Kool April Nights Inc

“In april 2021 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 most payments were returned and the small remaining funds were kept as a contribution. Gross receipts significantly declined and some 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 only able to issue a small amount of funds to community projects in the fye july 31, 2021.”

“Expenses advertising 1,112 office 1,158 insurance 1,000 tax and license 365 special event expenses 444 refund for early reg 4,226 non-investment depreciation 1,818 total 10,123”

“23,423 23,423 less accumulated depreciation 17,061 18,879 total 6,362 4,544”

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