Building and equipping our center has been funded by our Capital Campaign. Surplus fund will be accumulated in a prudent reserve, the income from which (and if necessary, the principal or which) may be used to argument cash flow. The on-going operation of RCS is financed by fees from guests and continuing charitable contributions from friends. Significant charitable gifts are needed annually to subsidize our operation so fees from guests can be kept to low. Any revenues in excess of expenses with be added to the prudent reserve, which is invested in liquid income-producing securities. As an important part of our long-term financial plan, RCS will also seek to build a permanent endowment to help support the long term growth and financial stability of RCS.
Contributions to RCS are federally tax-deductible as provided in section 170 of the U.S. Internal Revenue Code, within any limitations prescribed by the law, which may apply, to the donor.
All contributions are considered available for unrestricted use, unless specifically restricted by the donor. Under an amendment to the RCS Articles of Incorporation required by the IRS for tax-exemption, in the event of the dissolution of the corporation, any assets remaining must be distributed for a 501(c)(3) tax-exempt purpose, or to a governmental body, and could not be refunded to contributors.