Giles County Soccer Association

Schedule O:

“This is to provide clarification regarding a one-time grant transaction and related financial information for our organization in 2022. The City of Pulaski awarded a grant to the Giles County Soccer Association, which in turn gifted the funds to the Giles County Soccer League. These funds were used to install lighting on the middle field area. Please note that this was a special circumstance and not representative of our associations usual activities. Our organization typically files IRS Form 990 and has gross receipts of less than $10,000 annually. As part of our financial disclosures, the following figures are reported: In Part 1.16 (Other Expenses), we recorded Depreciation/Amortization of $2,709.11, Supplies totaling $1,159.45, and Other Expenses (not classified) amounting to $974.30. In Part 2.24 (Equipment & Fixtures), we reported an amount of $34,749.00. For Part 2.26 (Total Liabilities), the values reported include Buildings at $71,652.02, Equipment & Fixtures at $34,749.15, and Land Development at $157,188.21. The grant activity described above is also included in Part 5.33. As emphasized, this transaction involving the gifting of the grant from the City of Pulaski through the Giles County Soccer Association to the Giles County Soccer League is not part of our regular operations. It was a specific and isolated event intended solely to enhance field infrastructure for our players.”