Kool April Nights Inc

“In april 2020 the board decided to cancel the annual kool april nites car cruise and car show due to covid-19 concerns. When the decision was made, the organization received advance payments of program revenue in which some payments were returned and the remaining funds were kept as a contribution. Gross receipts significantly declined and fixed expenses remained, resulting in an operating loss for the organization. In prior years the organization's tax filings consist of two special events with direct expenses. For this tax year revenue is recognized as contributions as donors did not receive any benefit from their donations. Unfortunately due to the pandemic, kool april nites, inc. Was not able to issue any funds for community projects in the fye july 31, 2020.”

“Expenses advertising 4,335 office 3,917 board of directors travel 2,442 insurance 757 tax and license 1,200 special event expenses 45,568 non-investment depreciation 2,545 total 60,764”

“23,423 23,423 less accumulated depreciation 14,516 17,061 total 8,907 6,362”

“An organization that provides funds for community projects through special events such as a car show, breakfast, and other events.”