Seneca Navy Foundation

Schedule O:

“Part I, Line 8 ? Other Revenue: The organization received $500 from Chase Bank for opening a new checking account as part of a bank incentive program Part I, Line 16 ? Other Expenses: Advertising and Promotion: $6,868 Administrative: Financial Services: $300 Insurance: $940 Administrative: Office Expenses: $7,106 Boat and Equipment Expenses: $65,571 Miscellaneous Expenses: $1,030 Training and Water-Training Expenses: $28,182 Travel Expenses: $6,664 Direct Fundraising Event Expenses: $814 Total Other Expenses (Line 16): $117,475 Part I, Line 20 ? Other Changes in Net Assets: During the year, the organization received assets previously held by its fiscal sponsor. This included $24,176 in cash, which had been held on the organizations behalf, and a rowing vessel valued at $70,000. These assets are reported on Line 20. Part II, Line 24 ? Other Assets: The organizations rowing vessel, transferred from the fiscal sponsor during the year, is valued at $70,000 as of year-end. Part II, Line 26 ? Total Liabilities: Outstanding credit card debt incurred for ordinary operating expenses and program-related costs, balance as of year-end: $5,727. Beginning-of-Year Explanation: This is the organizations first year filing Form 990-EZ as an independent 501(c)(3). All beginning-of-year balances were $0. Assets transferred during the year are reported on Line 20.”