Way Off Broadway Players Inc

“There was a prepaid expense on the books from a prior administration that was expensed this year after officially terminating the organization. There were also a few other general business expenses related to the closing of the organization.”

“We have terminated our organization with the Texas Secretary of State as of March 27, 2025. We have some outstanding penalties with the IRS that we are currently working on getting abated. We have this very small amount, $1181.11, left in our checking account which we have not distributed in case it is needed to settle our penalties. The Schedule N has the information for Shine on Performing Arts, the non-profit we will distribute any remaining funds to. Once our IRS account is closed/settled, any remaining funds in the bank account will be distributed to Shine on Performing Arts. Please see the Schedule N for more details. We are entering this amount as an additional change in net assets in order to file this return (the program will not allow any remaining balance for a terminating organization). We did not think it would be prudent to distribute our final bank account balance to another non-profit organization while we have outstanding penalties with the IRS.”