2025-05-28T07:14:48-05:00 2024-09-30 390859910 BAKER TILLY ADVISORY GROUP LP 1570 FRUITVILLE PIKE SUITE 400 LANCASTER PA 17601 990 2023-10-01 261370696 GOLF ASSOCIATION OF THE LEHIGH VALLEY FOUNDATION GOLF 6104374982 2743 SAXON STREET ALLENTOWN PA 18103 KARL D GILBERT EXECUTIVE DIRECTOR 6104374982 2025-05-27 1 1 KERRI N BOGDA CPA P00760402 7177404863 2025-05-25 2023 2025-03-06 01:10:19Z KARL D GILBERT 2743 SAXON STREET ALLENTOWN PA 18103 120477 0 X HTTP://GALVGOLF.COM X 2007 PA TO DEVELOP AMATEUR GOLFERS THROUGH COMPETITIVE GOLF TOURNAMENTS. 4 3 7 4 0 0 24624 29420 79394 91057 0 0 0 0 104018 120477 0 0 0 0 13771 18062 0 0 0 117455 142736 131226 160798 -27208 -40321 11966 6645 555000 590000 -543034 -583355 THE GOLF ASSOCIATION OF THE LEHIGH VALLEY FOUNDATION IS DEDICATED TO THE OVERALL GROWTH AND DEVELOPMENT OF AMATEUR GOLFERS OF ALL AGES AND GENDERS, WHO ASPIRE TO PLAY THE GAME AT A HIGH LEVEL OF ABILITY AND ACCOMPLISHMENT THROUGH THE CHALLENGE OF COMPETITIVE GOLF TOURNAMENTS. 0 0 123247 0 91057 THE ORGANIZATION CONDUCTED APPROXIMATELY FORTY TO FORTY FIVE AMATEUR GOLF TOURNAMENTS OPEN TO GOLFERS OF ALL AGES AND GENDERS THAT ENCOURAGED, PROMOTED, AND TAUGHT PROPER GOLF ETIQUETTE, SCORING PROCEDURES, SPORTSMANSHIP, AND AN APPRECIATION OF THE GAME. 123247 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 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 1 0 7 1 0 0 0 0 0 0 0 0 0 0 0 0 X 4 3 1 0 0 0 0 0 0 1 1 0 0 1 1 1 0 0 1 0 0 0 PA X KARL D GILBERT 6104374982 2743 SAXON STREET ALLENTOWN PA 18103 X KARL D GILBERT EXECUTIVE DIRECTOR/BOARD MEMBER 60.00 X X 0 0 0 RICH KOVACS BOARD MEMBER 1.00 X 0 0 0 BOB BOLIG BOARD MEMBER 1.00 X 0 0 0 ALEX KNOLL BOARD MEMBER 1.00 X 0 0 0 CATHERINE M GILBERT SECRETARY/TREASURER 10.00 X 0 0 0 0 0 0 0 0 0 0 0 29420 29420 TOURNAMENT FEES 713910 81877 81877 MEMBERSHIP FEES 713910 9180 9180 91057 120477 91057 0 0 X 16265 16265 1797 1797 5187 5187 1071 1071 342 342 2403 688 1715 299 299 26506 26506 3844 3844 TOURNAMENT GOLF FEES 42356 42356 TOURNAMENT PRIZES 19330 19330 TOURNAMENT SPONSORSHIPS 13239 13239 TOURNAMENT MANAGEMENT 11187 11187 16972 16972 160798 123247 37551 0 X 11966 6645 11966 6645 555000 590000 555000 590000 X 0 0 0 0 -543034 -583355 -543034 -583355 11966 6645 -40321 0 X 1 X 0 0 0 X 4449 584 5186 24624 29420 64263 80562 97253 74310 79394 91057 422576 85011 97837 79496 104018 120477 486839 4449 584 5186 24624 26506 61349 0 4449 584 5186 24624 26506 61349 425490 2258 368 2626 87269 98205 79496 104018 120477 489465 0.86930 0.88350 0.00000 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: LUNCH REVENUE - 2019 AMOUNT: $ 2,258. 2020 AMOUNT: $ 368. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED KARL D GILBERT EXECUTIVE DIRECTOR OPERATIONAL EXPENSES X 325000 590000 0 1 0 590000 SCHEDULE L, PART II, LOANS TO AND FROM INTERESTED PERSONS: KARL D. GILBERT HAS LOANED THE ORGANIZATION A TOTAL OF $590,000 AS OF SEPTEMBER 30, 2024. THE LOAN IS ACCRUING MONTHLY INTEREST BASED ON THE MONTHLY AFR FOR AN ON DEMAND NOTE ADJUSTED ACCORDINGLY BASED ON ADDITIONAL LOAN ADVANCES. FORM 990, PART VI, SECTION A, LINE 2 KARL D. GILBERT AND CATHERINE M. GILBERT HAVE A FAMILY RELATIONSHIP. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 WILL BE COMPLETED ANNUALLY AND THE RETURN WILL BE PROVIDED TO THE BOARD OF DIRECTORS OF THE ORGANIZATION FOR REVIEW AND DISCUSSION. THE FILED RETURN IS PRESENTED TO THE BOARD OF DIRECTORS IN ITS NEXT MEETING FOR RATIFICATION. THE RETURN WILL NOT BE FILED UNTIL THE BOARD OF DIRECTORS HAS HAD ACCESS TO THE FINAL RETURN. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S BYLAWS, FINANCIAL STATEMENTS, CONFLICT OF INTEREST POLICY, AND TAX RETURN ARE PROVIDED TO THE PUBLIC AS REQUESTED. FORM 990, PART IX, LINE 24E TOURNAMENT FOOD AND BEVERAGE: PROGRAM SERVICE EXPENSES 10,660. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 10,660. TROPHIES & AWARDS: PROGRAM SERVICE EXPENSES 5,472. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 5,472. TOURNAMENT MISC FEES: PROGRAM SERVICE EXPENSES 840. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 840. FORM 990, PART X, LINE 22(B): BORROWER'S STATEMENT REGARDING BELOW-MARKET INTEREST RATE LOAN PURSUANT TO PROPOSED REG. 1.7872-11(G)(2) GOLF ASSOCIATION OF THE LEHIGH VALLEY FOUNDATION 2743 SAXON STREET ALLENTOWN, PA 18103 IDENTIFICATION NUMBER: 26-1370696 TAX YEAR END: SEPTEMBER 30, 2024 GOLF ASSOCIATION OF THE LEHIGH VALLEY FOUNDATION HEREBY SUBMITS THIS STATEMENT, PURSUANT TO PROPOSED REG. 1.7872-11(G)(2), RELATING TO INCOME FROM AN IMPUTED TRANSFER OR A DEDUCTION CLAIMED FOR IMPUTED INTEREST EXPENSE UNDER CODE SEC. 7872. LENDER INFORMATION: KARL D. GILBERT 2743 SAXON STREET ALLENTOWN, PA 18103 IDENTIFICATION NUMBER: XXX-XX-XXXX AMOUNT OF IMPUTED INTEREST EXPENSE: $24,598.90 AMOUNT/CHARACTER OF IMPUTED INCOME (IF ANY): $24,598.90 METHOD USED TO COMPUTE INTEREST: MONTHLY AFR FOR AN ON-DEMAND NOTE ADJUSTED ACCORDINGLY BASED ON ADDITIONAL LOAN ADVANCES. INFORMATION REQUIRED BY THE RETURN OR THE INSTRUCTIONS THERETO: GOLF ASSOCIATION OF THE LEHIGH VALLEY FOUNDATION DATE: APRIL 8, 2025