Overview of Friends International, Inc. and their financial position as per IRS requirements.
Friends International was incorporated as a Maine corporation in November 1988. It received Federal 501(c)(3) status in May 1993. Since that time only one IRS Form 990 has been filed (1993) when it was ruled that we did not have to file a Form 990 due to the fact we had LESS than $25,000 in annual income. This has remained true until 1997 when we received a boat donation from Holland Bennett of L.I. NY and appraised for $79,300.
In 1998 we also received donations of some 449 shares in Janus 20 Mutual fund; 1391 shares in Janus Special Situations fund and 300 shares of Idexx Corp. Of Westbrook, Me. Value at time of donation was some $33,000.
During 1999 we were donated three Rhodes 19 sailboats. Donors included R.L. Bergeron, Portland, Me.; Dr. David Iszard, Freeport, ME; Mr. & Mrs. Phillip Roshak of Portland and an Archellies inflatable tender donated by Lyn Clarke of Yarmouth. . Total value of the three boats is some $6,500. Each donor was given a signed IRS Form 8283 for filing.
Additional cash donations included $1290 by participants in the Sailing for Peace program, and various Board members and the public.
Thus, we will not be filing any IRS Form 990 for 1999 as we were under the $25,000 limit that the IRS says that any organization that normally has income of $25,000, You can see from this report we do not normally have such income.
Much effort in the past few years has been on program development by all of our volunteers. It is hoped that an effort will be made this next year to develop funding for the program.
The current Board of Directors are: R.L. Bergeron of Portland, President/Tres.; Lyn Clarke, Yarmouth, V-P; Charles Sheerer, Starks, Maine and John Williams, Christchurch, Barbados.
For additional information please contact Friends International by writing to Box 8506, Portland, ME. , Calling 207-775-0547 or by e-mail: Friends International, Inc