2015-2016 Financial Review
Camp Olson YMCA is pleased to report that the fiscal year ended on September 30, 2016 with a small surplus. This was due in part to continued increased financial support, restricted support, and significant in-kind donations by alumni and friends which help to offset costs related to our operations and capital improvements. Figures provided by the independent auditing firm CliftonLarsonAllen. To view a complete copy of our 2015-2016 audit or our IRS 990 charitable report, click on the links below:
Audited financial statements and back returns are available to the public upon request.
The Form 990, entitled “Return of Organization Exempt From Income Tax,” is a report that must be filed each year with the Internal Revenue Service by organizations exempt from Federal income taxes under section 501 of the Internal Revenue Code, and whose annual receipts are “normally” more than $25,000 a year. It is an information return and not an income tax return since the organizations that file it do not pay income taxes.
The Form 990 serves two essential purposes. First, it provides information that helps government agencies enforce the laws that govern nonprofits. For example, it helps government regulators learn whether groups have been spending their funds in a way that might cause them to lose their charitable and tax-exempt status. Second, the Form 990 provides a great deal of financial information about the filing organization’s financial condition, about its financial strength or weakness and about such things as the sources of its income.