The Bridge

“The bridge's endowment fund is made up of donor restricted funds with the stipulation that only the net income may be used to defer costs and expenses and to fund the programs and purposes of the bridge.”

“The organization is exempt from federal income tax under section 501(a) as an organization described in 501(c)(3) of the internal revenue code (the code) and has been determined not to be a private organization under section 509(a) of the code. As a result, income taxes are not included in the accompanying financial statements. The organization complies with fasb asc topic 740, accounting for uncertainty in income taxes, which addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under this guidance, the organization may recognize the tax benefit from an uncertain tax position only if it is more-likely-than-not that the tax position will be sustained on examination by taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such position are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. The guidance on accounting for uncertainty in income taxes also addresses de- recognition, classification, interest and penalties on income taxes, and accounting in interim periods. Management evaluated the organization's tax positions and concluded that the organization had taken no uncertain tax positions that require adjustment to the financial statements to comply with the provisions of this guidance. With few exceptions, the organization is no longer subject to income tax examinations by the u.s. Federal tax authorities for years ending before august 31, 2015.”

“Special fundraising expenses netted against revenue on 990 89,579”

“Special fundraising expenses netted against revenue on 990 89,579”