Financials And Other Fiscal Information
From more than 10 years, the San Antonio Humane Society has been audited by and received unqualified opinions from the CPA firm of Akin, Doherty, Klein & Feuge, P.C. An Unqualified Opinion denotes that the Financial Statements are accurate in accordance with the requirements for the Generally Accepted Accounting Principles (GAAP), as opposed to a qualified opinion which denotes that the Financial Statements do not conform with the GAAP. An Unqualified Opinion is issued when financial statements are free of misstatements and an auditor has no reservations about the company’s financial condition, position, and operations. An Unqualified Opinion is the ideal report.
2009 IRS Tax Form 990
In 2009, at the height of the economic downturn, we chose to refinance our mortgage in order to significantly decrease our monthly outflows. To pay down our mortgage, we sold several investments at a realized loss of 1.5 million. Therefore, our 2009 tax return appears as if we had a heavy operating loss, but in fact, it was actually a loss of approximately $387,000 taking the investment activity into consideration. Thanks to our dedicated supporters, our remaining endowment and investment portfolio strategically covers ongoing operational expenses.