K E M P S V I L L E     V O L U N T E E R     R E S C U E     S Q U A D

Annual Report -- Administrative Details and Finances

Our comprehensive Annual Report is available in two formats: Conventional and World Wide Web. The following sections are also a part of the comprehensive report:

• Title page
• Our Programs
• Our Past
• Our Present
• Our Future
• Recent Accomplishments
• Current Directors and Officers
• Mailing Address and Phone Numbers
• Street Address and Map

Topics covered in this section

• Administrative Standards and Practices
• Tax-Exempt Status
• Definition of Fiscal Year
• Financial Activities
• Financial Position
• Annual Budget for the Current Fiscal Year

Administrative Standards and Practices

The Kempsville Volunteer Rescue Squad:

• Meets the Better Business Bureau's Standards for Charitable Solicitations. A copy of the BBB report is available upon request.
• Requires that two corporate officers sign each of its checks, and that no expenditure be made without an official written purchase order.
• Receives financial planning assistance from Raymond James Financial, Inc., and abides by its published Investment Allocation Plan.
• Is audited annually by Corbin & Company of Chesapeake, Virginia.
• Is a solicitor of charitable contributions, and holds a Category G (Civic Organization) Exemption from Annual Registration from the Virginia Department of Agriculture and Consumer Services (VDACS), Office of Consumer Affairs, Regulatory Programs Unit, in accordance with the Virginia Solicitation of Contributions Act.

Tax-Exempt Status

The Kempsville Volunteer Rescue Squad is tax exempt under section 501(C)(3) of the Internal Revenue Code. It is eligible to receive contributions deductible as charitable donations for federal income tax purposes. A copy of the IRS Letter of Determination of 501(C)(3) Status is available upon request.

Definition of Fiscal Year

The KVRS fiscal year runs from July 1st to June 30th.

Financial Activities

• TOTAL OPERATING BUDGETS, past five years
• FYE 2005: $1,243,043
• FYE 2004: $1,188,828
• FYE 2003: $1,191,661
• FYE 2002: $1,188,826
• FYE 2001: $1,236,234

• LATEST YEAR'S OPERATING STATEMENT
• Where it came from
• 88% from Contributed services and facilities
• 11% from Contributions
• <1% from Investment interest and dividends
• 00% from Sale of apparatus & equipment
• <1% from Cash support from City of Virginia Beach
• Where it went
• 97% to Program Services (see Our Programs)
• 00% to Program Assets (see Our Apparatus!)
• 01% to Fund Raising
• <2% to Administrative support services

Financial Position

KVRS has recorded the following net worth values. Only the figures for the past five years, if available, will be listed here.

• June 30, 2005: $526,184
• June 30, 2004: $546,870
• June 30, 2003: $644,293
• June 30, 2002: $556,234
• June 30, 2001: $578,163

Annual Budget for the Current Fiscal Year

• TOTAL OPERATING BUDGET: $1,280,334 (up 3% from last year)
• Where it will come from
• 87% from Contributed services and facilities
• 10% from Contributions
• 02% from Investment interest and dividends
• <1% from Cash support from City of Virginia Beach
• <1% from Sale of apparatus & equipment
• Where it will go
• 92% to Program Services (see Our Programs)
• 06% to Program Assets (see Our Apparatus!)
• 01% to Fund Raising
• 01% to Administrative support services

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