Imagine Theatre

Schedule O:

“Other Expenses Line 16: Cost of Goods Sold ($805.03), Total Artistic Expenses ($18201.80), Total Community Expenses (537), Total Education Program Expenses ($4426.35), Fundraising/Development Expenses ($1759.5), Other General Supplies ($327.74), Total Legal Professional and insurance service expenses ($6230.39), Software ($6262.27) Regarding Admendment An internal audit was performed after our previous Board Treasured failed to tile our 990s on time for two years and there was concerns about accuracy of the documents if they were rushed late. This audit found errors in the tagging of expense and income, but there was no evidence of malicious intent or theft. It was found that our financial system (Quickbooks) was double counting our payroll expenses, making them hyper inflated. This same system was also double tagging some other income and expenses. This largely impacted lines 12, 13 as related to payroll. Lines 1, 2, 11, 15 and thus 16 were also updated. These lines were largely due to better following the instructions on what to account for in that line.”