Three Oaks Homeless Shelter Inc

“The necessary documentation is completed and filed with the social security administaration to be appointed as representative payee for clients not having the mental capacity to manage their own finances. All representative payee funds are maintained in individual checking accounts maintained by the finance director and administrative assistant with all checks requireing the ceo's signature.”

“The organization's endowment consists of funds established to provide homeless persons in the lexington park, maryland area with transitional and emergency housing, assessment and referral to appropriate public and private resources so that such persons ultimately can become productive and self-sufficient. As required by generally accepted accounting principles, net assets associated with endowment funds are classified and reported based on the existence or absence of donor-imposed restrictions. The board of directors of the organization has interpreted the maryland uniform prudent management of institutional funds act (md upmifa) as requiring the preservation of the fair value of the original gift as of the gift date of the donor-restricted endowment funds absent explicit donor stipulations to the contrary. As a result of this interpretation, the organization classifies as net assets with donor restrictions (a) the original value of gifts donated to the permanent endowment, (b) the original value of subsequent gifts to the permanent endowment, and (c) accumulations to the permanent endowment made in accordance with the direction of the applicable donor gift instrument at the time the accumulation is added to the fund. In accordance with md upmifa, the organization considers the following factors in making a determination to appropriate or accumulate donor-restricted endowment funds: (1) the duration and preservation of the fund, (2) the purpose of the donor-restricted endowment fund, (3) general economic conditions, (4) the possible effect of inflation and deflation, (5) the expected total return from income and the appreciation of investments, (6) other resources of the organization, and (7) the organization's investment policies. Investment return objective, risk parameters and strategies. The organization has adopted investment and spending policies, approved by the board of directors, for endowment assets that attempt to provide a predictable stream of funding to programs supported by its endowment fund while also maintaining the purchasing power of those endowment assets over the long-term. Accordingly, the investment process seeks to provide current income and capital appreciation consistent with the preservation of the purchasing power of the underlying assets and specifically, to meet or exceed the average annual rate of inflation plus spending. Additionally, the investment process seeks to achieve a rate of return greater than a blended benchmark based on the target allocations to individual asset classes, and to achieve a rate of return in the top quartile of the organization's peers. Endowment assets are invested in a well-diversified mix, which may include cash equivalents, fixed income investments, including intermediate to long-term investment grade bonds, and equities to provide current income and growth and appreciation of the endowment assets. Investment risk is measured in terms of the total endowment fund; invesment assets and allocation between asset classes and strategies are managed not to expose the fund to unacceptable levels of risk. Spending policy. The organization has a policy of appropriating for distribution each year, 5% of its endowment fund's average fair value of the prior twelve months through the fiscal year-end preceding the fiscal year in which the distribution is planned. Distributions are distributed solely for the definded purpose of the endowment. In establishing this policy, the organization considered the long-term expected return on its investment assets, the nature and duration of the endowment fund, and the possible effects of inflation.”

“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. 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 effect 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, 2024. The organization is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress. The organization's forms 990, return of organization exempt from income tax are subject to examination by the irs generally for three years after they are filed.”

“FUNDRAISING EXPENSES”

“FUNDRAISING EXPENSES”