Skipping Stones

“This sum includes annual salary, employer contribution to social security and medicare taxes, as well as the required employer portion of the state and/or local taxes paid. In addition, it includes our 2022 employer contribution to the sep ira account of our employee.”

“These are refunds made for cancelled subscriptions, advertising fees paid to subscription agencies, State form filing fees paid to the state of Oregon, and fees charged by the financial institutions like PayPal and our bank.”

“OFFICE EQUIPMENT SUCH AS COMPUTERS, COPYING MACHINE, and FURNITURE, AND THE INVENTORY OF BACK ISSUES AND BOOKS”

“These liabilities represent the partially fulfilled portions of the subscriptions. This amount represents the expenses we would likely incur to fulfill our obligations to these subscribers. It is an estimated value.”

“These are estimates of expenses that can be attributed to the various program services listed here Since we have only one paid staff, we do not keep a record of the expenses by various program services; rather we keep track of the expenses by the various expense categories-rent, printing, postage, salaries, taxes, etc. But the numbers shown are reasonable estimates.”

“As per our bylaws, the executive editor is also a board member. He works full time--40 hours a week to manage the day-to-day operations of the organizations, including editing, publishing and distributing the magazine, maintaining website, and other tasks as needed. He receives an annual salary and retirement benefits as shown in the list of Officers and and directors. The 2022 SEP IRA contribution of $19,995 was made in early May, before this 990-EZ Report for 2022 was filed.”

“In 2022, we did not receive any non-cash contributions to report on Schedule B. Hence Part II is left blank.”