Shriners International

“The board designated or quasi-endowment is used at management's discretion to run the daily operations of the temple. The temporarily restricted endowment is utilized to provide free hospital transportation to and from the shriner's hopitals for patients and their families designated the shrine hospital transportation fund. The temporarily restricted endowment is utilized for building improvements and expenses designated as the building fund. The temporarily restricted endowment is utilized to pay dues for the benefit of its life members designated as the life membership fund. The temporarily restricted endowment is utilized for the building purchase and mortgage payments designated as the building of the future fund.”

“The shriner's international has obtained exemption from income tax under section 501(c)(10) of the internal revenue code. The exemption includes all subordinate shrine organizations. However, certain other revenues such as advertising may be subject to tax. The temple accounts for uncertain tax positions in accordance with fasc no 740 and subsections, which prescribes a recognition threshold and measurement process for financial recognition of uncertain tax positions taken or expected to be taken in a tax return. The temple's income tax filings are subject to audit by various taxing authorities. The temple's open audit periods are 2014-2017. Any interest or penalties assessed to the temple are recorded in operating expenses. For the year ended december 31, 2017 there were no interest or penalites recorded in the financial statements. In assessing its tax positions, the temple believes its estimates are appropriate based on current facts and circumstances.”