Tampa Jccfederation Inc

“All investments are held by the top jewish foundation, inc. (top), which is a financially interrelated organization established by the jewish federations of tampa, orlando, and pinellas to enhance community building programs and services along with fundraising for the three organizations. Top receives gifts, bequests, and contributions for the purpose of using, distributing, and investing the principal and/or income for charitable, educational, and religious purposes within the jewish community. Each of the three federations appoints trustees to the board of top. The funds raised for which top is granted variance power are distributed based upon the direction of each community's appointed trustees. The organization's beneficial interest includes those assets held by top for which the organization is specified as a beneficiary. These assets include endowment funds from which the organization receives annual distributions as specified by the donor. In addition to the above, the organization is also specified as the beneficiary for the residual interest in certain philanthropic funds held by top. The organization will receive the balance remaining in these funds, if any, upon the death of the donor. However, during the donor's life, top has the ability to distribute these funds to beneficiaries other than the organization. A value for the organization's interest in these funds cannot be determined because of the contingent nature and because future cash flows cannot be reasonably measured. Therefore, the organization's beneficial interest in these funds is not recorded.”

“Tampa jcc is recognized as tax-exempt organizations under section 501(c)(3) of the internal revenue code (irc). Weinberg village is a single member llc wholly-owned by tampa jcc and is subject to tax as unrelated exempt function income as defined by the irc. Historically, weinberg village has not sustained a tax liability as a consequence of the unrelated exempt function income. The organization has adopted the accounting standards relating to accounting for uncertainty in income taxes. Management assessed whether there were any uncertain tax positions which may give rise to income tax liabilities and determined that there were no such matters requiring recognition in the accompanying consolidated financial statements. Generally, the organization is no longer subject to the u.s. Federal or state income tax examinations by tax authorities for three years from the filing date of the respective returns.”

“Jcc charitable project revenue reported on consolidated financials 8,330,052. Eliminating entries reported on consolidated financials -1,255,930. Scholarship reduction included in revenue on fs -58,377. Change in beneficial interest 436,944.”

“Jcc charitable project expenses reported on consolidated financials 9,615,011. Fiba services expenses reported on consolidated financials 39,571. Eliminating entries reported on consolidated financials -1,255,930. Impact israel expenses reported on consolidated financials 149.”

“Scholarship reduction included in revenue on fs 58,377.”