Beyond Emancipation

“The organization is holding several custodial funds: housing - overpayment: in some cases, the organization is paid on a per-youth basis, based on youth entry and exit dates. This account is used to reconcile these payments, which are at times overpaid. Fiscal sponsoree - youth leaders: the youth leadership institute gave b:e a grant for a project for one of the youth. The balance is the remaining amount to be spent by this youth. Host housing savings - youth in the host housing program give b:e a monthly allotment of funds to save for them as "savings" until they exit. The amount is returned in full upon program exit. Community housing savings - youth in the community housing program give b:e a monthly allotment of funds to save for them as "savings" until they exit. The amount is returned in full upon program exit.”

“B:e is exempt from income tax under section 501(c)(3) of the u.s. Internal revenue code. Accordingly, no provision for income taxes has been provided in these financial statements. In addition, b:e qualifies for the charitable contribution deduction under section 170(b)(1)(a) and has been classified as an organization that is not a private foundation under section 509(a)(1). Unrelated business income, if any, may be subject to income tax. Management believes that all activities during the year ended june 30, 2024 were related to b:e's exempt purpose and therefore did not incur any unrelated business income or related taxes. U.s. Gaap requires the recognition, measurement, classification, and disclosure in the financial statements of uncertain tax positions taken or expected to be taken in the organization's tax returns. Management has determined that b:e does not have any uncertain tax positions and associated unrecognized benefits that materially impact the financial statements or related disclosures. Since tax matters are subject to some degree of uncertainty, there can be no assurance that b:e's tax returns will not be challenged by the taxing authorities and that b:e will not be subject to additional tax, penalties, and interest as a result of such challenge. Generally, b:e's tax returns remain open for federal income tax examinations for three years from the date of filing.”