2015-08-06T08:59:56-05:00 2014-12-31 161092347 MENGEL METZGER BARR & CO LLP 100 CHESTNUT STREET SUITE 1200 ROCHESTER NY 14604 990 2014-01-01 166122899 BOY SCOUTS OF AMERICA COUNCIL 397 ENDOWMENT FUND BOYS 5852444210 2320 BRIGHTON HENRIETTA TOWNLINE ROAD ROCHESTER NY 14623 FRANK STRONG CHAIR 5852444210 2015-08-04 1 RAYMOND J JACOBI P00160856 5854231860 2015-08-04 2014 2016-04-25 22:37:26Z FRANK STRONG 2320 BRIGHTON HENRIETTA TOWNLINE ROAD ROCHESTER NY 14623 810044 0 X WWW.SENECAWATERWAYS.ORG X 1952 NY ENDOWMENT FUND TO SUPPORT THE ACTIVITIES AND PROGRAMS OF SENECA WATERWAYS COUNCIL, INC., BOY 11 11 0 11 0 0 463179 103677 0 0 833237 706367 0 0 1296416 810044 0 0 0 0 0 0 0 0 5754 103729 56966 103729 56966 1192687 753078 16269013 15985402 61523 20406 16207490 15964996 ENDOWMENT FUND TO SUPPORT THE ACTIVITIES AND PROGRAMS OF SENECA WATERWAYS COUNCIL, INC., BOY SCOUTS OF AMERICA. 0 0 49952 THE TRUST FUND IS FOR THE BENEFIT OF THE SENECA WATERWAYS COUNCIL, INC. WITH 5.5% OF THE AVERAGE ASSET VALUE OF THE PREVIOUS 20 QUARTERS USED TO SUPPORT THE SENECA WATERWAYS COUNCIL ALONG WITH ANY OTHER SPECIFIC BEQUESTS. 49952 1 1 0 0 0 0 0 0 0 1 0 1 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 X 11 11 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 NY X X LORI WILKES 5852444210 2320 BRIGHTON HENRIETTA TOWNLINE RD ROCHESTER NY 14623 FRANK STRONG CHAIR 1.00 X X 0 0 0 FRANK CREGO BOARD MEMBER 1.00 X 0 0 0 ROBERT SCHICK BOARD MEMBER 1.00 X 0 0 0 DAVID KLEIN BOARD MEMBER 1.00 X 0 0 0 BURTON AUGUST SR BOARD MEMBER 1.00 X 0 0 0 RICHARD FOX BOARD MEMBER 1.00 X 0 0 0 PETER PAPE BOARD MEMBER 1.00 X 0 0 0 DAVID LIPPITT BOARD MEMBER 1.00 X 0 0 0 THOMAS RUSLING BOARD MEMBER 1.00 X 0 0 0 THOMAS RICHARDS BOARD MEMBER 1.00 X 0 0 0 LOUIS LANGIE JR BOARD MEMBER 1.00 X 0 0 0 STEPHEN HOITT SECRETARY/TREASURER 2.00 38.00 X 0 146171 20020 0 146171 20020 0 0 1 0 0 103677 103677 174789 174789 531578 0 531578 531578 531578 810044 0 0 706367 X 17076 17076 35000 27986 1260 5754 4120 4120 INCOME TAX PAID 770 770 56966 49952 1260 5754 60821 102201 200 200 12941876 12579684 2982043 3022605 284073 280712 16269013 15985402 61523 20406 61523 20406 X 4081124 3702859 5099478 5199314 7026888 7062823 16207490 15964996 16269013 15985402 X 753078 -286853 -708719 X X 0 1 X 1 0 X X 1 SENECA WATERWAYS COUNCIL INC BOY SCOUTS OF AMERICA 160743108 1 1 708719 0 1 708719 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 15923919 387089 708719 15602289 14265028 151767 2203177 696053 15923919 12877909 404153 1690116 707150 14265028 13973298 269927 -565375 799311 12878539 13039988 305501 1055476 427667 13973298 0.21410 0.45270 0.33320 0 0 0 CASH 169917 C ALTERNATIVE INVESTMENTS 2852688 F 3022605 X PART V, LINE 4: THE ENDOWMENT HAS ADOPTED INVESTMENT AND SPENDING PROCEDURES FOR ENDOWMENT ASSETS THAT ATTEMPT TO PROVIDE A PREDICTABLE STREAM OF FUNDING TO PROGRAMS ADMINISTERED BY THE SENECA WATERWAYS COUNCIL WHILE SEEKING TO MAINTAIN THE PURCHASING POWER OF THE ENDOWMENT ASSETS. THE GOAL IS TO PROVIDE AN INVESTMENT RETURN THAT EXCEEDS THE UNMANAGED MARKET RETURN WHILE REDUCING MARKET RISK THROUGH DIVERSIFICATION. PART X, LINE 2: THE ENDOWMENT FUND IS A TAX-EXEMPT ORGANIZATION UNDER INTERNAL REVENUE CODE (THE "CODE") SECTION 501(C)(3) AND NEW YORK STATE LAW AS A CHARITABLE ORGANIZATION, WHEREBY ONLY UNRELATED BUSINESS INCOME, AS DEFINED BY SECTION 509(A)(1) OF THE CODE IS SUBJECT TO FEDERAL INCOME TAX. THE ENDOWMENT FUND CURRENTLY HAS NO UNRELATED BUSINESS INCOME. ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN RECORDED. THE ENDOWMENT FUND HAS BEEN CLASSIFIED AS AN ENTITY THAT IS NOT A PRIVATE FOUNDATION. THE ORGANIZATION FILES TAX RETURNS IN THE U.S. FEDERAL JURISDICTION AND IN NEW YORK STATE. WITH FEW EXCEPTIONS, AS OF DECEMBER 31, 2014, THE ORGANIZATION IS NO LONGER SUBJECT TO U.S. FEDERAL OR STATE INCOME TAX EXAMINATIONS BY TAX AUTHORITIES FOR YEARS ENDED PRIOR TO DECEMBER 31, 2011. THE TAX RETURNS FOR THE YEARS ENDED DECEMBER 31, 2011 THROUGH DECEMBER 31, 2014 ARE STILL SUBJECT TO POTENTIAL AUDIT BY THE IRS AND THE TAXING AUTHORITIES IN NEW YORK STATE. MANAGEMENT OF THE ORGANIZATION BELIEVES THEY HAVE NO MATERIAL UNCERTAIN TAX POSITIONS AND, ACCORDINGLY THEY HAVE NOT RECOGNIZED ANY LIABILITY FOR UNRECOGNIZED TAX BENEFITS. 0 0 0 0 0 0 0 0 0 STEPHEN HOITT SECRETARY/TREASURER 0 146171 0 0 0 0 0 13834 0 6186 0 166191 0 0 PART I, LINE 3 THE SECRETARY OF THE ENDOWMENT FUND ALSO SERVES AS EXECUTIVE DIRECTOR OF THE SENECA WATERWAYS COUNCIL AND IS COMPENSATED BY THAT RELATED ORGANIZATION. THE COMPENSATION OF THE EXECUTIVE DIRECTOR IS BENCHMARKED BY THE BOY SCOUTS OF AMERICA. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 IS REVIEWED BY SENECA WATERWAYS COUNCIL'S AUDIT COMMITTEE AND MADE AVAILABLE TO ALL MEMBERS OF THE BOARD OF DIRECTORS BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 12C THE TRUSTEES OF THE ENDOWMENT FUND FOLLOW THE POLICIES SET FORTH BY THE EXECUTIVE BOARD OF THE SENECA WATERWAYS COUNCIL. THE SENECA WATERWAYS COUNCIL'S AUDIT COMMITTEE WILL REVIEW CONFLICT OF INTEREST STATEMENTS AND, WITH THE CHAIR, WILL RESOLVE ANY CONFLICTS, IF NECESSARY. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION COMPLIES WITH ALL APPLICABLE FEDERAL AND STATE REGULATIONS. THE INFORMATION IS ON FILE AND CAN BE MADE AVAILABLE FOLLOWING A WRITTEN REQUEST FOR THE INFORMATION. THEY ARE ALSO AVAILABLE ON GUIDESTAR.ORG. FORM 990, PART IX, LINE 11G OTHER PROFESSIONAL SERVICES: PROGRAM SERVICE EXPENSES 27,986. MANAGEMENT AND GENERAL EXPENSES 1,260. FUNDRAISING EXPENSES 5,754. TOTAL EXPENSES 35,000. FORM 990, PART XI, LINE 9: TRANSFER OF INVESTMENT INCOME TO SENECA WATERWAYS COUNCIL, INC. -708,719. FORM 990, PART XII, LINE 2C: THE PROCESS IS CONSISTENT WITH PRIOR YEAR. SENECA WATERWAYS COUNCIL INC BOY SCOUTS OF AMERICA 2320 BRIGHTON HENRIETTA TOWNLINE RD ROCHESTER NY 14623 160743108 TO PROVIDE VALUE ORIENTED PROGRAMS FOR YOUTH THROUGH VARIOUS ACTIVITIES NY 501(C)(3) LINE 7 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 0 SENECA WATERWAYS COUNCIL INC BOY SCOUTS OF AMERICA R 708719 5.5% OF AVG VALUE OF PREV 20 QTRS