Boulder Philharmonic Orchestra

“Beneficial interest in assets held by others: the organization has established an endowment fund (fund) with community first foundation (cff). The fund was established for the general operating needs of the organization. All donor restricted contributions to the fund and related matching grants received from cff are held in perpetuity by cff. The organization may request distributions of the fund's earnings. At april 30, 2015, the invested balance held by cff, recorded at fair value, totals 182,204. Perpetual income-producing gifts: the organization has established a type of donor fund called perpetual income-producing gifts (gifts) to create opportunities for donors to establish legacies that benefit the organization in perpetuity. All investment accounts will be managed under the authority of the organizations board of directors. In february 2014, the organization approved allowing up to 15% of the value of any perpetual income-producing gift to be transferred to the organization's operations in any given year. If the income from the fund does not generate the target amount during a given year, a portion of the principal may be liquidated accordingly. At april 30, 2015, the invested balance held in gifts, recorded at fair value totals 152,040.”

“The organization follows accounting for uncertainty in income taxes, which requires the organization to determine whether a tax position (and related tax benefit) is more likely than not to be sustained upon examination by the applicable taxing authorit, based soley on the technical merits of the position. The tax benefit to be recognized is measured as the largest amount of benefit that is greater than fifty percent likely of being realized upon settlement, presuming that the tax position is examined by the appropriate taxing authority that has full knowledge of all relevant information. During the year ended april 30, 2015 the organization's management evaluated its tax positions to determine the existence of uncertainties, and did not note any matters that would require recognition or which may habe an effect on its tax-exempt status.”

“Direct fundraising expenses 16,391”

“Direct fundraising expenses 16,391”