One Stone Inc.

“The temporarily restricted fund balance of $175,441 at December 31, 2015 is for contributions and grants whose conditions had not been fully realized in 2015 and will be satisfied in 2016. The grant and contribution amounts received in 2015 for 2016 programs included the Perkins grant for 2016 development salaries, the Whittenberger grant for the 2016 spring and fall, Open Book Adventure, reading project, a private grant for recruiting underserved teens, a State Farm Youth Advisory grant for the LifeX project, and a JKAF grant for an exploratory school study.”

“The note regarding uncertain tax positions in the fiscal year 2015 audited financial statements for One Stone inc. reads: The accounting standard on accounting for uncertainty in income taxes addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under that guidance, the Organization may recognize tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by taxing authorities based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement. There were no unrecognized tax benefits identified or recorded as liabilities for fiscal year 2015. The Organization files Form 990 in the U.S. federal jurisdiction. The Organization is generally no longer subject to examination by the Internal Revenue Service for years before 2012.”

“Direct fundraising expenses are subtracted from gross fundraising revenue to arrive at total revenue on schedule VIII form 990. Direct fundraising expenses are NOT subtracted from fundraising income to arrive at total revenue on the audited financial statements. To reconcile audited financial statements with the form 990 direct fundraising expenses need to be removed form the total revenue amount.”

“Direct fundraising expenses are subtracted from gross fundraising revenue to arrive at total revenue on schedule VIII form 990 and therefore do not appear in the total functional expense amount. Direct fundraising expenses are included with total expenses on the audited financial statements. To reconcile audited financial statements with the form 990, direct fundraising expenses need to be added to total expenses. Fundraising expenses included on the audited financial statement as functional expenses but recognized on the form 990 as a reduction to fundraising revenue total $30,657. The $30,657 includes, food and beverage expenses of $12,335 (form 990, line 8a) and other direct expenses of $18,322 (form 990, line 8b) consisting of staff wages of $6,304, payroll taxes of $359, and other direct expenses of $11,659.”