2021-10-15T12:43:31-05:00 2020-12-31 161092347 MENGEL METZGER BARR & CO LLP 100 CHESTNUT STREET SUITE 1200 ROCHESTER NY 14604 990 2020-01-01 166122899 BOY SCOUTS OF AMERICA COUNCIL 397 ENDOWMENT FUND BOYS 5852444210 2320 BRIGHTON HENRIETTA TL ROAD ROCHESTER NY 14623 STEPHEN HOITT SECRETARY/TREASURER 5852444210 2021-10-13 1 STEPHEN HOITT 999009999 RAYMOND J JACOBI P00160856 5854231860 2021-10-13 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z THOMAS RICHARDS 2320 BRIGHTON HENRIETTA TL ROAD ROCHESTER NY 14623 4484563 0 X WWW.SENECAWATERWAYS.ORG X 1952 NY ENDOWMENT FUND TO SUPPORT THE ACTIVITIES AND PROGRAMS OF SENECA WATERWAYS COUNCIL, INC., BOY SCOUTS OF AMERICA. 8 8 0 8 0 0 277939 44082 0 0 2178671 275098 0 0 2456610 319180 0 0 0 0 0 0 0 0 13757 103984 92146 103984 92146 2352626 227034 20584987 21909165 0 0 20584987 21909165 ENDOWMENT FUND TO SUPPORT THE ACTIVITIES AND PROGRAMS OF SENECA WATERWAYS COUNCIL, INC., BOY SCOUTS OF AMERICA. 0 0 77099 THE TRUST FUND IS FOR THE BENEFIT OF THE SENECA WATERWAYS COUNCIL, INC. WITH 5.0% OF THE AVERAGE ASSET VALUE OF THE PREVIOUS 20 QUARTERS USED TO SUPPORT THE SENECA WATERWAYS COUNCIL ALONG WITH ANY OTHER SPECIFIC BEQUESTS. 77099 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 0 0 0 0 0 0 0 0 0 0 0 0 0 X 8 8 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 NY X LORI WILKES 5852418559 2320 BRIGHTON HENRIETTA TOWNLINE RD ROCHESTER NY 14623 THOMAS RICHARDS CHAIR 2.00 2.00 X X 0 0 0 FRANK CREGO BOARD TRUSTEE 1.00 1.00 X 0 0 0 DAVID KLEIN BOARD TRUSTEE (THRU JAN 2020) 1.00 1.00 X 0 0 0 PETER PAPE BOARD TRUSTEE 1.00 1.00 X 0 0 0 LOUIS LANGIE JR BOARD TRUSTEE 1.00 X 0 0 0 PETER GREAVES-TUNNELL BOARD TRUSTEE (THRU AUG 2020) 1.00 1.00 X 0 0 0 ROBERT KERNAN JR BOARD TRUSTEE 1.00 1.00 X 0 0 0 EMERSON FULLWOOD BOARD TRUSTEE 1.00 1.00 X 0 0 0 JEFFREY HALIK BOARD TRUSTEE 1.00 2.00 X 0 0 0 ROBERT W AUGUST BOARD TRUSTEE 1.00 1.00 X 0 0 0 STEPHEN HOITT SECRETARY/TREASURER 2.00 38.00 X 0 178744 37669 0 178744 37669 0 0 1 0 0 44082 44082 271632 271632 4168849 4165383 3466 3466 3466 319180 0 0 275098 X 56186 56186 15960 913 1290 13757 16939 16939 MISCELLANEOUS EXPENSES 3061 3061 92146 77099 1290 13757 46210 56800 248749 62598 4797119 5861502 15296536 15749327 196373 178938 20584987 21909165 0 0 X 5667122 6921660 14917865 14987505 20584987 21909165 20584987 21909165 X 227034 1909340 -812196 X X 0 1 X 1 0 X X 1 SENECA WATERWAYS COUNCIL INC BOY SCOUTS OF AMERICA 160743108 1 1 837334 25139 1 837334 25139 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 20342404 1956647 625624 21673427 17364752 3263983 286331 20342404 18838306 -1218229 255325 17364752 17164896 2561640 888230 18838306 16745838 999531 580473 17164896 0.30840 0.45300 0.23860 0 0 0 ALTERNATIVE INVESTMENTS 1250872 F DIAMOND HILL SMALL/MID CAP-Y 1579580 F EDGEWOOD GROWTH FUND-INS 2227106 F VANGUARD 500 INDEX CL ADML 3141639 F ARTISAN INTL INSTL SH #662 1799141 F HARBOR DIV INT ALL CAP-INST 1598334 F VANGUARD TOTAL INT ST IDX-AD 1575624 F VANGUARD TOTAL BD MKT IDX ADM 2577031 F 15749327 X 1360138 1909340 1909340 -549202 56186 812196 868382 319180 35960 0 35960 56186 56186 92146 PART V, LINE 4: THE ENDOWMENT FUND 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 COUNCIL AND THE ENDOWMENT FUND ARE TAX-EXEMPT ORGANIZATIONS UNDER INTERNAL REVENUE CODE (THE "CODE") SECTION 501(C)(3) AND NEW YORK STATE LAW AS CHARITABLE ORGANIZATIONS, WHEREBY ONLY UNRELATED BUSINESS INCOME, AS DEFINED BY SECTION 509(A)(1) OF THE CODE IS SUBJECT TO FEDERAL INCOME TAX. THE COUNCIL AND THE ENDOWMENT FUND CURRENTLY HAVE NO UNRELATED BUSINESS INCOME. ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN RECORDED. THE COUNCIL AND THE ENDOWMENT FUND HAVE BEEN CLASSIFIED AS ENTITIES THAT ARE NOT PRIVATE FOUNDATIONS. THE COUNCIL AND ENDOWMENT FUND FILE FORM 990 TAX RETURNS IN THE U.S. FEDERAL JURISDICTION AND IN NEW YORK STATE. WITH FEW EXCEPTIONS, AS OF DECEMBER 31, 2020, THE COUNCIL AND ENDOWMENT FUND ARE NO LONGER SUBJECT TO U.S. FEDERAL OR STATE INCOME TAX EXAMINATIONS BY TAX AUTHORITIES FOR THE YEARS ENDED PRIOR TO DECEMBER 31, 2017. THE TAX RETURNS FOR YEARS ENDED DECEMBER 31, 2017 THROUGH DECEMBER 31, 2020 ARE STILL SUBJECT TO POTENTIAL AUDIT BY THE IRS AND TAXING AUTHORITIES IN NEW YORK STATE. MANAGEMENT OF THE COUNCIL BELIEVES THEY HAVE NO MATERIAL UNCERTAIN TAX POSITIONS AND, ACCORDINGLY, THEY HAVE NOT RECOGNIZED ANY LIABILITY FOR UNRECOGNIZED TAX BENEFITS. PART XI, LINE 4B - OTHER ADJUSTMENTS: TRANSFER OF INVESTMENT INCOME TO SENECA WATERWAYS COUNCIL 812,196. X X X X X 0 0 0 0 0 0 0 0 0 STEPHEN HOITT SECRETARY/TREASURER 0 178744 0 0 0 0 0 24750 0 12919 0 216413 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 11B 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. FORM 990, PART IX, LINE 11G OTHER PROFESSIONAL SERVICES: PROGRAM SERVICE EXPENSES 913. MANAGEMENT AND GENERAL EXPENSES 1,290. FUNDRAISING EXPENSES 13,757. TOTAL EXPENSES 15,960. FORM 990, PART XI, LINE 9: TRANSFER OF INVESTMENT INCOME TO SENECA WATERWAYS COUNCIL, INC. -812,196. PART XII, LINE 2C EXPLANATION THIS PROCESS IS CONSISTENT WITH PRIOR YEARS. 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 1 0 0 0 1 0 0 1 0 SENECA WATERWAYS COUNCIL O 190744 ACTUAL W2S SENECA WATERWAYS COUNCIL R 837334 ACTUAL TRANSFER SENECA WATERWAYS COUNCIL K 2285 ACTUAL TRANSFER