Pine Castle Inc.

“The albert and viola kissling endowment fund, the pine castle endowment fund, and the ralph and elizabeth mundell endowment fund were created at the community foundation for northeast florida (foundation) to ensure the perpetuation of residential services to developmentally disabled clients of the organization and to support general operations. The foundation maintains variance power and legal ownership of these endowment funds, and accounts for the funds as agency endowments, recording a corresponding liability for the fair value of the funds. The organization includes the endowment fund as restricted assets. Net income from the endowment funds is paid and distributed to the organization as determined by the foundation and the organization. Net income may be accumulated, reinvested, and subsequently paid to the organization for the endowment fund purposes upon request of the board of directors of pine castle, inc. During the fiscal year ending september 30, 2009, the organization received funds as a remainder beneficiary to establish a second ralph paul mundell and elizabeth marie mundell endowment fund, the corpus of which is to remain intact and the income of which shall be used to support the charitable activities of pine castle, inc.”

“Under section 501(c)(3) of the internal revenue code, the organization is exempt from federal and state taxes on income other than unrelated business income. The organization utilizes the accounting requirements associated with uncertainty in income taxes using the provisions of financial accounting standards board (fasb) asc 740, income taxes. Using that guidance, tax positions initially need to be recognized in the financial statements when it is morelikely-thannot the positions will be sustained upon examination by the tax authorities. It also provides guidance for derecognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. As of september 30, 2024 the organization has no uncertain tax positions that qualify for recognition or disclosure in the financial statements.”

“Direct fundraising expenses 23,134. Cost of goods sold 866,366.”

“Direct fundraising expenses reported in part viii 23,134. Cost of goods sold reported in part viii 866,366.”