Carol Holdren wrote, in part,
Re the AOS financial report. This is the IRS form you are reporting on. The AOS financial year goes from July 1 to June 30. Neither gala lost money - the first made over $60,000, the second made money also, although much less.
If so I would be delighted. I know what hard work goes into running events like these and the satisfaction that must follow when they are successful.
Both the 2003 1nd 2004 returns ( for the tears ending June 30, 2002 and June 30, 2003) have direct expenses exceeding gross revenue. It is not unusual for expenses incurred in one calendar year to lead to revenues in a subsequent year. Of course, the revenues would then have to show up in a following year's report. If the Gala actually returned a profit of $60,000+ that's a number big enough to be hard to miss.
Can you tell me where these revenues show up in the tax form? Are they considered to be contributions as part of direct public support? What kind of commitments are made at the Gala that are given over a number of years?
You also stated:
You can receive the yearly 2003/2004 financial information from the AOS - see their web site for information.
I am having trouble finding this; probably my age. Could you please provide the appropriate URL?
martin Epstein
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