Form Pt 05-34 - Property Tax Claim - Charitable Ownership/use Page 7
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1623.
SPI kept no financial records of its operations during the period at issue.
Department Ex. 2, p. 3 (¶¶ 12, 15). Instead, for the period at issue, IDVPA kept
all financial records detailing items of expense or income associated with Vasa
Park, as part of a planned transition period regarding activities held at Vasa Park.
Department Ex. 3, p. 2; see also Tr. pp. 50-52 (colloquy between counsel
regarding SPI’s identification and proffer of financial records prepared by IDVPA
regarding 2003).
24.
SPI has described the planned transition period as follows:
[SPI] will act as operator of these three festivals[, referring
to the Scandinavian Day, Children’s/Midsummer’s Day,
and Fish Boil]. However, a transition period was necessary
in order to ensure successful operation of these events. The
2003 Scandinavian Day Festival and 2003 Fish Boil were
conducted
by
IDVPA
and
the
2004
Children’s
Day/Midsummer Festival was substantially conducted by
the Children’s Day Committee. [SPI] will conduct the
2004 Scandinavian Day Festival and Fish Boil. [SPI] will
be responsible for all three festivals and any other festivals
conducted in 2005 and beyond.
Although [SPI] owned the property from October 23, 2003
forward, it did not have financial operations for 2003. A
membership drive was not conducted until the beginning of
2004. ***
Department Ex. 3, p. 2.
25.
Although SPI kept no financial records for 2003, it intended to maintain a price
structure for admissions to the seasonal Scandinavian fairs, and for other uses of
Vasa Park, that is similar to that previously used by IDVPA. Department Ex. 3,
pp. 2-3; Applicant Ex. 8, pp. 2-3.
26.
In a letter to the Department regarding its property tax exemption application, SPI
described its intended festival admission policy as follows:
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