Audits Available, IRS Visits The Foundation
The annual audited statements of financial position of Urantia Foundation and the combined statements of financial position of Urantia Foundation and Affiliates including the related statements of activities and cash flows as of December 31, 2000 are now available. If you are interested in obtaining a copy, please send a request along with $10.00 USD to cover copying and postage.
Additionally, Urantia Foundation's Federal Form 990-Return of Organization Exempt from Income Tax, for the 2000 calendar year is available, either for a nominal $5.00 USD charge to cover copying and postage expenses, or free of charge online at http://www2.guidestar.org/organizations/36-2435086/urantia-foundation.aspx . All state and federal filings have been made, and Urantia Foundation remains in good standing with both the Internal Revenue Service and the Illinois Attorney General.
Independent auditors from the firm of Altschuler Melvoin and Glasser, LLP recently performed year 2001 audit testing and fieldwork. This summer work schedule allows Urantia Foundation to obtain lower off-season rates for these services while meeting state and Federal extended filing dates. Audits of calendar year 2001 should be available approximately November 2002.
In March 2002, Urantia Foundation received a notice of selection for a compliance audit for the year ending December 31, 1999 from the Internal Revenue Service. During April and May 2002, an IRS field agent examined the correctness of income or gross receipts, deductions, and credits to determine that the organization is operating in the manner stated and for the purpose set forth in its application for recognition of exemption. Records examined during this audit included: governing instruments, minutes of meetings, all records of assets, liabilities, receipts, and disbursements (including check register, canceled checks and bank statements), auditor's report, prior and subsequent year tax returns, correspondence files, pamphlets, brochures, and other literature printed.
We are happy to report that on August 27, 2002 Urantia Foundation received a letter from the Internal Revenue Service reporting that the examination disclosed the organization continues to qualify for exemption. The return filed for the period ending December 31, 1999 was accepted as filed.
If you would like to receive copies of the audited financial statements or tax returns, or if you have any questions, please contact F. Gard Jameson, CPA, Treasurer, or Marcia Lansu, CPA, Finance Manager, at the Chicago office.
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