Alaska Junior Theater Inc.

“The Stacie Price Fund was established to help under-privileged youth attend theater performances, and to provide scholarships. All contributions specified for this purpose are held in temporary restricted net assets until the donor-imposed stipulations are fulfilled.”

“Alaska Junior Theater, Inc. is exempt from income taxes under Section 501(c)(3) of the Internal Revenue Code. Although the Organization is exempt from federal income taxes, any income derived from unrelated business activities is subject to the requirement of filing U.S. Federal Income Tax Form 990-T and a tax liability may be determined on these activities. Management believes no unrelated business activity subject to the requirements of filing Federal Income Tax Form 990T exists for the years ended June 30, 2017 and 2016.The Organization has adopted the recognition requirements for uncertain income tax positions as required by generally accepted accounting principles. Income tax benefits are recognized for income tax positions taken or expected to be taken in a tax return, only when it is determined that the income tax position will more-likely-than-not be sustained upon examination by taxing authorities. The Organization has not taken any uncertain tax positions for the years ended June 30, 2017 and 2016, respectively. Accordingly, the Organization has not recorded any reserves, or related accruals for interest and penalties for uncertain income tax positions at June 30, 2017 or 2016.The Organization is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress. The Organization believes it is no longer subject to income tax examinations for years prior to 2014.The Organizations policy is to classify income tax related interest and penalties in interest expense and other expenses, respectively.”

“Net Assets released from restrictions $499”

“Fundraising Expenses on pt VIII line 8b $16478 Net Assets Released from Restrictions $499”