Nextgen Interarts Foundation Inc

“| Grants And Similar Amounts Paid:, Amount:| Student Awards XC Creative Art Contest 2025, $1750|”

“| Other Expenses:, Amount:| The organization uses the accrual basis of accounting. Line 10 Grants and similar amounts paid reflects a total liability of $1,750 incurred for 2025 contest awards. While $450 was paid by check in December 2025 the remaining $1,300 is recorded as a liability in Part II Line 26. Line 16 Other expenses totaling $648 includes accrued operational costs such as Amazon office supplies $121 and merchant processing fees from Stripe and PayPal $527.All professional service fees and independent contractor travel reimbursements totaling $56,789 are reported under Line 13 to avoid double counting and ensure alignment with the organizations total 2025 expenses of $59,491., $648|”

“| Explanation:, BOYAmount:, EOYAmount:| The organization reporting under the accrual basis of accounting includes total liabilities of 64,597onLine26,ColumnB.Thistotalconsistsof:154,300 in accounts payable to XC Art Center for professional services branding marketing and exhibition setup incurred during the 2025 fiscal year per service contract; 2 8,997indeferredrevenuerepresentingprepaymentsreceivedfromsponsorsanddonorsspecificallydesignatedforthe2026programyear;and31,300 in accrued contest prizes issued by check in December 2025 but remaining uncashed as of December 31 2025., $0, $64597|”