2025-08-25T05:55:06-05:00 2024-12-31 161092347 MENGEL METZGER BARR & CO LLP 100 CHESTNUT STREET SUITE 1200 ROCHESTER NY 14604 990 2024-01-01 166122899 BOY SCOUTS OF AMERICA COUNCIL 397 ENDOWMENT FUND BOYS 5852444210 2320 BRIGHTON HENRIETTA TL ROAD ROCHESTER NY 14623 JONATHAN WIDMARK SECRETARY/TREASURER 5852444210 2025-08-21 1 1 RAYMOND J JACOBI P00160856 5854231860 2025-08-21 2024 2025-03-06 01:10:19Z THOMAS RICHARDS 2320 BRIGHTON HENRIETTA TL ROAD ROCHESTER NY 14623 3975711 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 304942 39900 8268 0 358635 364393 0 0 671845 404293 0 0 0 0 0 0 0 0 10069 75911 146360 75911 146360 595934 257933 16036407 16948918 0 0 16036407 16948918 ENDOWMENT FUND TO SUPPORT THE ACTIVITIES AND PROGRAMS OF SENECA WATERWAYS COUNCIL, INC., BOY SCOUTS OF AMERICA. 0 0 133481 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, NOT TO EXCEED $775,000, USED TO SUPPORT THE SENECA WATERWAYS COUNCIL ALONG WITH ANY OTHER SPECIFIC BEQUESTS. 133481 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 PETER PAPE BOARD TRUSTEE 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 ROBERT W AUGUST BOARD TRUSTEE 1.00 X 0 0 0 DAVID BULLWINKLE BOARD TRUSTEE 1.00 2.00 X 0 0 0 ADELE LANGIE BOARD TRUSTEE - JOINED DUR 1.00 X 0 0 0 STEPHEN HOITT SECRETARY/TREASURER 1.00 39.00 X 0 187021 40153 0 187021 40153 0 0 1 0 0 39900 39900 387528 387528 3548283 3571418 -23135 -23135 -23135 404293 0 0 364393 X 61539 61539 73586 61482 2810 9294 907 907 9060 9060 MISCELLANEOUS EXPENSES 1268 493 775 146360 133481 2810 10069 53679 34764 131841 89897 10552397 7472836 5162317 9242104 136173 109317 16036407 16948918 0 0 X 1029625 888270 15006782 16060648 16036407 16948918 16036407 16948918 X 257933 1562394 -907816 X X 0 1 X 1 0 X X 1 SENECA WATERWAYS COUNCIL INC BOY SCOUTS OF AMERICA 160743108 1 1 953356 1209 1 953356 1209 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 15846555 1694956 736673 16804838 14247581 2185460 586486 15846555 23796902 -2984455 6564866 14247581 21673427 2615383 491908 23796902 20342404 1956647 625624 21673427 0.04430 0.57220 0.38350 0 0 0 VANGUARD TOTAL BD MKT IDX ADM 2146240 F ISHARES CORE S&P 500 3802873 F ISHARES CORE S&P MID-CAP ETF 1027492 F ISHARES CORE S&P MSCI INTL DEV MKTS 1320668 F ISHARES CORE S&P 500 944831 F 9242104 X 997332 1562394 1562394 -565062 61539 907816 969355 404293 84821 0 84821 61539 61539 146360 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)(L) 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 AND IS SUBJECT TO POTENTIAL EXAMINATION BY TAXING AUTHORITIES. THE COUNCIL AND ENDOWMENT FUND'S CURRENT AND PRIOR THREE YEARS TAX RETURNS REMAIN SUBJECT TO REVIEW BY TAXING AUTHORITIES. 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 907,816. X X X X X 0 0 0 0 0 0 0 0 0 STEPHEN HOITT SECRETARY/TREASURER 0 186524 0 0 0 497 0 5366 0 34787 0 227174 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 AND TRUSTEES 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 OF THE BOARD OF DIRECTORS REVIEWS CONFLICT OF INTEREST STATEMENTS AND, WITH THE CHAIR, RESOLVES 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 61,482. MANAGEMENT AND GENERAL EXPENSES 2,810. FUNDRAISING EXPENSES 9,294. TOTAL EXPENSES 73,586. FORM 990, PART XI, LINE 9: TRANSFER OF INVESTMENT INCOME TO SENECA WATERWAYS COUNCIL, INC. -907,816. PART XII, LINE 2C EXPLANATION THE BOARD HAS NOT CHANGED ITS PROCESS FOR SELECTING THE INDEPENDENT AUDITOR NOR HAVE THEY CHANGED THE OVERSIGHT OF THE AUDIT FROM 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 1 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 SENECA WATERWAYS COUNCIL O 187021 ACTUAL W2S SENECA WATERWAYS COUNCIL B 953356 ACTUAL TRANSFER SENECA WATERWAYS COUNCIL K 1209 ACTUAL TRANSFER