Using the following facts, calculate what total revenue on Part VIII, Statement of Revenue of IRS...

 

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Using the following facts, calculate what total revenue on Part VIII, Statement of Revenue of IRS Form 990 would be for this example social service organization. You just need to calculate the total revenue balance; however, show your calculation for potential partial credit: 1) Contribution revenue of $500,000 which consist of the following: $100,000 donated stock, $50,000 of donated use of facilities, $75,000 of fundraising event contributions, $100,000 government grant, $50,000 award from the United Way and $125,000 of other cash contributions. 2) Fundraising event revenue of $200,000 which consist of $75,000 of contributions (included in #1 above), $105,000 of event ticket revenue/auction revenue/sponsorships and $20,000 of donated auction items (not included in #1 above) as well as $65,0000 of fundraising event expenses which consist of $45,000 of rental/food/entertainment costs and $20,000 of donated auction items 3) The organization received a conditional grant from a foundation to support their after-school tutoring program, whereby the foundation would award the organization $10,000 for every 20 children participating in the program during the year up to $100,000. During the year, 120 children participated in the program. 4) Net investment income of $300,000, which consists $60,000 of interest income, $55,000 of realized gains, $205,000 of unrealized gains, and $20,000 of netted investment fees 5) Rental income of the organization's gymnasium each weekend to a local basketball league for $1,000 a weekend for 20 weekends during the year, for which the organization incurred expenses related to of $10,000 6) Revenue from the organization's onsite daycare of $300,000 7) Sale of t-shirts during the organization's end-of-summer celebration to 300 children for $10 each, which costs the organization $5 per t-shirt 1) 2) 3) 4) 5) 6) 7) TOTAL REVENUE PER 990 $ Using the following facts, calculate what total revenue on Part VIII, Statement of Revenue of IRS Form 990 would be for this example social service organization. You just need to calculate the total revenue balance; however, show your calculation for potential partial credit: 1) Contribution revenue of $500,000 which consist of the following: $100,000 donated stock, $50,000 of donated use of facilities, $75,000 of fundraising event contributions, $100,000 government grant, $50,000 award from the United Way and $125,000 of other cash contributions. 2) Fundraising event revenue of $200,000 which consist of $75,000 of contributions (included in #1 above), $105,000 of event ticket revenue/auction revenue/sponsorships and $20,000 of donated auction items (not included in #1 above) as well as $65,0000 of fundraising event expenses which consist of $45,000 of rental/food/entertainment costs and $20,000 of donated auction items 3) The organization received a conditional grant from a foundation to support their after-school tutoring program, whereby the foundation would award the organization $10,000 for every 20 children participating in the program during the year up to $100,000. During the year, 120 children participated in the program. 4) Net investment income of $300,000, which consists $60,000 of interest income, $55,000 of realized gains, $205,000 of unrealized gains, and $20,000 of netted investment fees 5) Rental income of the organization's gymnasium each weekend to a local basketball league for $1,000 a weekend for 20 weekends during the year, for which the organization incurred expenses related to of $10,000 6) Revenue from the organization's onsite daycare of $300,000 7) Sale of t-shirts during the organization's end-of-summer celebration to 300 children for $10 each, which costs the organization $5 per t-shirt 1) 2) 3) 4) 5) 6) 7) TOTAL REVENUE PER 990 $