USTCAF Finance Report（2012 Annual and Q1’13 Finance summary）:
USTCAF 2012 Annual Finance summary
Total assets: $999,698.
Total income $158,562 (donation $128519 , investment income $30043)
Total spending: $178,712 (USTC awards $178413 , operation cost $299 from bank service charge)
USTCAF Q1’13 Finance summary:
Total assets: $1,071,534 (General Fund $153,640, rest are in sub-funds). No liabilities.
Q1’13 income $57,032 (Investment income $22,534, General Fund donation $7482, rest are donation to sub-funds). $17190 is from stock donation.
Operation spending $119 ($98- AF domain fee paid for previous years, $21- Bank service charge).
Other major events: On Jan 14, 2013, USTCAF has officially passed the IRS audit for previous years and were re-affirmed by IRS the tax exemption under 501 (c) (3). Thanks for rigorous work done by AF board members and volunteers in the past years, and for AF volunteers in working with AF CPA firm to complete this task in the last few months (no cost incurred by USTCAF in this case).
Question of the quarter: Stock donation
If you have large gain in stock, stock donation may be a good option for tax benefits.