Keep Evansville Beautiful Inc.

“These funds are restricted by the donors to be held permanently by the organization. The organization (resource provider) created an endowment fund with the community foundation alliance (recipient organization) in which the organization specified itself as the beneficiary. Variance power was granted to the recipient organization. Grants to be distributed are based on the recipient organization's spending policy using one of two calculations: 4.5% of the fund's average balance of the previous twenty quarters, if the original gift value is preserved after granting or if the funds are below original gift value, the annual distributions are based on one- half of the total net investment return (dividends, interest, realized gains (losses), unrealized gains (losses) minus fees) on the value of the funds of the prior twelve months, limited to no less than 1% but no more than 4.5%. The organization transfers permanently restricted contributions from the donors to the community foundation. Prior to 2014, the annual income distributions received from the fund were transfered back to the community foundation.”

“The organization is exempt from federal income tax under section 501(c)(3) of the internal revenue code. In addition, the organization qualifies for the charitable contribution deduction under section 107(b)(1)(a) and has been classified as an organization other than a private foundation under section 509(a)(2). The organization's form 990 and indiana form np-20 are generally no longer subject to examination by taxing authorities for years before september 30, 2012.”

“Receivables current year 67,183 fundraising expenses shown as expenses for fs 37,725 change in beneficial interest -5,368 receivables prior year -57,050 current year payable netted in revenue -2,513”

“Fundraising expenses netted with contributions for return 37,725 payables current year 3,071 payable prior year -15,209 current year payable netted to revenue -2,513”