The Muse Machine Inc

“Intended use of the organization's endowment funds: nancy m. Breene fund, dick and mary karr fund, lester eidermiller fund and unrestricted board restricted fund were established for the purpose of providing annual unrestricted operating revenue for the muse machine. Sharon and douglas scholz fund is for the exclusive purpose of providing annual, unrestricted operating revenue for the organization as determined by the board of trustees. Sara exley memorial fund was established for the exclusive purpose of supporting cultural enrichment and professional development programs to emphasize the value and encourage the practice of arts in education for the organization's teachers of pre-kindergarten through twelfth grade students. Lorna dawes student education fund was established for the exclusive purpose of providing annual, unrestricted operating revenue for the student programs. Muse machine musical endowment fund (honoring nat horne and david dusing) was established for the exclusive purpose of providing annual, unrestricted operating revenue for the musical. Cherie mescher scholarship fund was established to provide an annual scholarship for students in the centerville city schools in the amount of $500 per year. Suzy and pino bassani endowment fund was established to provide annual, unrestricted operating revenue to enhance the activities, programs and operations of the organization. The following funds are restricted for scholarships: the lorenzo bassani scholarship fund, carrie vanderbeek scholarship fund, al reyes and nat horne scholarship fund, teacher training fund, and the moses hogan and mary-kate tews scholarship fund.”

“Accounting for uncertainty in income taxes - the organization has adopted accounting rules that prescribe when to recognize, and how to measure, the financial statement effects of income tax positions taken, or expected to be taken, on its income tax returns. These rules require management to evaluate the likelihood that, upon examination by relevant taxing jurisdictions, those income tax positions would be sustained. Based on the evaluation, the organization only recognizes the maximum benefit of each income tax position that is more than 50% likely of being sustained. To the extent that all, or a portion of, the benefits of an income tax position are not recognized, a liability would be recognized for the unrecognized benefits, along with any interest and penalties that would result from the disallowance of the position. Should any such penalties and interest be incurred, they would be recognized as operating expenses. Based on the results of management's evaluation, no liability has been recognized in the accompanying balance sheets for unrecognized income tax positions. Further, no interest or penalties have been accrued or charged to expense as of june 30, 2014 and 2013, and for the years then ended. The federal informational returns for the organization for 2011, 2012, and 2013 are subject to examination by taxing authorities, generally for three years after the due date.”

“Change in value in beneficial interest in assets held by others 55,618. Fundraising expenses 18,795. Rounding -2.”

“Special events expenses 18,795.”