Jacksonville Symphony Association

“The endowment fund represents funds that are either designated for a particular use by the board of directors or are subject to restrictions by the donor or grantor. Income from endowment investments may be used for support of association operations.”

“The association is a not-for-profit corporation as described in section 501(c)(3) of the internal revenue code and is exempt from federal and state income taxes on related income pursuant to section 501(a) of the internal revenue code and chapter 220-13 of the florida statutes, respectively. The symphony evaluates its tax positions for any uncertainties based on the technical merits of the position taken in accordance with authoritative guidance. The symphony recognizes the tax benefit from an uncertain position only if it is more likely than not that the position will be upheld on examination by taxing authorities. The symphony has analyzed the tax positions taken and has concluded that as of june 30, 2017 and 2016, there were no uncertain tax positions taken, or expected to be taken, that would require recognition of a liability or disclosure in the financial statements. Management is required to analyze all open tax years, as defined by the statute of limitations, for all major jurisdictions, including federal and certain state taxing authorities. At june 30, 2017, the symphony is no longer subject to u.s. Federal, state and local, or non-u.s. Income tax examinations by taxing authorities for years before 2014. As of and for the years ended june 30, 2017 and 2016, the symphony did not have a liablity for unrecognized taxes. The symphony has no examinations in progress and is not aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax liabilities will significantly change in the next twelve months.”

“Expenses related to fundraising events included on page 9, part viii, line 8b $174,160 expenses related to merchandise sales included on page 9, part viii, line 7b $7,711 ---------------- total to schedule d, part xii, line 2d $181,871”

“Expenses related to fundraising events included on page 9, part viii, line 8b $174,160 expenses related to merchandise sales included on page 9, part viii, line 7b $7,711 ---------------- total to schedule d, part xii, line 2d $181,871”

“Endowment funds not in the possession of the organization are held by the jacksonville community foundation. The organization will receive an annual transfer of income from the fund.”

“Revenue transferred from related party on page 9, part viii, line 1d $1,122,730”

“Transfer of net assets by the board $2,023,167”