The Theatre Ensemble

“The organization can withdraw up to 10% of the value of the endowment for general operating use each year.”

“The organization has been classified as a not-for-profit organization and is tax-exempt under section 501(c)(3) of the internal revenue code. The organization is subject to a tax on income from any unrelated business. On july 1, 2009, the organization adopted the recognition requirements for uncertain income tax positions as required by generally accepted accounting principles, with no cumulative effect adjustment required. Income tax benefits are recognized for income tax positions taken or expected to be taken in a tax return, only when it is determined that the income tax position will more-likely-than-not be sustained upon examination by taxing authorities. The organization has analyzed tax positions taken for filing with the internal revenue service and all state jurisdictions where it operates. The organization believes that income tax filing positions will be sustained upon examination and does not anticipate any adjustments that would result in a material adverse affect on the organization's financial condition, results of operations or cash flows. Accordingly, the organization has not recorded any reserves, or related accruals for interest and penalties for uncertain income tax positions at june 30, 2018 and 2017. The organization may be subject to random audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress. The organization believes it is no longer subject to income tax examinations for years ending before june 30, 2015. The organization's policy is to classify income tax related interest and penalties, if any, in interest expense and penalties expense, respectively. The organization had no income tax related interest expense or penalites for the years ended june 30, 2018 and 2017.”

“Fundraising expenses netted against revenue 42,342. Gaming expenses netted against revenue 14,050. Merchandise costs netted against revenue 3,430.”

“Fundraising expenses netted against revenue 42,342. Gaming expenses netted against revenue 14,050. Merchandise costs netted against revenue 3,430.”

“Part xii, line 2d- fundraising expenses netted with fundraising revenues on form 990, page 9, part viii, line 8b, gaming expenses netted with gross income from gaming activities on form 990, page 9, part viii, line 9b, and cost of goods sold netted with gross sales of inventory on form 990, page 9, part viii, line 10b. Part xiii, line 2d- fundraising expenses netted with fundraising revenues on form 990, page 9, part viii, line 8b, gaming expenses netted with gross income from gaming activities on form 990, page 9, part viii, line 9b, and cost of goods sold netted with gross sales of inventory on form 990, page 9, part viii, line 10b.”