According to the AdoptAPlatoon Soldier Support Effort audit of December 31, 2020 (Note G, Related Party Transactions, Troop Support): "During the year, the Organization purchased troop food and supplies from a local retail supermarket which is owned by one of the Organization's board members. Total purchases for the year were $729,981."
According to the AdoptAPlatoon Soldier Support Effort audit of December 31, 2020 (Note G, Related Party Transactions, Rent Expense): "The Organization leases office space from property owned by the executive director, under a month-to-month operating lease. The total rent paid for the year ended, December 31, 2020, was $21,600." |
According to the AdoptAPlatoon Soldier Support Effort audit of December 31, 2020 (Note F, Concentrations): "Approximately 95% of the Organization's revenue is derived from the fundraising efforts of a professional fundraising company. In the event the professional fundraiser no longer performed services for the Organization, the current level of the Organization's operations and services would be negatively impacted. At December 31, 2020, there is no provision in the financial statements for such an event as a reasonable estimate cannot be made and no losses are anticipated."
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According to the AdoptAPlatoon Soldier Support Effort audit of December 31, 2020 (Note E, Allocation of Joint Activities): "The Organization is in a dispute with their direct mail service provider concerning mailing costs, the outcome of which is expected to be favorable and resolved in the subsequent year."
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According to the AdoptAPlatoon Soldier Support Effort audited Statement of Cash Flows for the year ended December 31, 2020, AdoptAPlatoon reported $88,125 in Paycheck Protection Program (PPP) Loan proceeds. |
According to the AdoptAPlatoon Soldier Support Effort audit of December 31, 2020 (Note H, Subsequent Events): "The Organization has evaluated subsequent events through August 15, 2021, the date which the financial statements were available to be issued. "On January 30, 2020, the World Health Organization ('WHO') announced a global health emergency because of a new strain of coronavirus originating in Wuhan, China (the 'COVID-19 outbreak') and the risks to the international community as the virus spreads globally beyond its point of origin. In March 2020, the WHO classified the COVID-19 outbreak as a pandemic, based on the rapid increase in exposure globally. "The full impact of the COVID-19 outbreak continues to evolve as of the date of this report. As such, it is uncertain as to the full magnitude that the pandemic will have on the Organization's financial condition, liquidity, and future results of operations. Management is actively monitoring the global situation on its financial condition, liquidity, operations, suppliers, industry, and workforce. Given the daily evolution of the COVID-19 outbreak and the global response to curb its spread, the Organization is not able to estimate the effects of the COVID-19 outbreak on its results of operations, financial condition, or liquidity for fiscal year 2021." |