Nativity School of Worcester Inc

“The school's endowment consists of ten individual funds (collectively the "educational endowment fund") and the flaherty fund established for a variety of purposes through donor restricted endowment funds, as well as the board designated funds which has been designated by the board of trustees to function as endowment. The educational endowment fund provides a consistent level of budgetary support to the school's educational mission. The flaherty fund provides grad support. Given the goals of the funds, earning sufficient long-term returns to offset the impact of withdrawals and inflation are of primary importance, while reducing volatility and liquidity risks are of secondary consideration. The board designated fund is an unrestricted fund which the school's board of trustees will have broad discretion over expenditures. Primary uses of this fund will include, but are not limited to, asset repair or replacement shortfalls in donations relative to the operating budget, and temporary financial support of the school's graduates who are in high school or college. The board of trustees must approve the expenditures. Given the likely unpredictable amounts of funds withdrawn from this fund, considerations of return, volatility risk and liquidity related to the fund are balanced carefully. As required by generally accepted accounting principles, the school classifies as donor restricted net assets (a) the original value of gifts donated to the permanent endowment, (b) the original value of subsequent gifts to the permanent endowment, and (c) accumulations to the permanent endowment made in accordance with the direction of the applicable donor gift instrument at the time the accumulation is added to the fund. The remaining portion of the donor-restricted endowment fund that is not classified as non-expendable net assets is classified as expendable net assets until those amounts are appropriated for expenditure by the school in a manner consistent with the standard of prudence prescribed by state law. In accordance with the uniform prudent management of institutional funds act, the school may consider the following factors in making a determination to appropriate or accumulate donor-restricted endowment funds: the duration and preservation of the fund; the purposes of the school and the donor-restricted endowment fund; general economic conditions; the possible effect of inflation and deflation; the expected total return from income and the appreciation of investments; other resources of the school; and the investment policies of the school. The investment objective of the school is to invest its assets in a prudent manner to achieve a long-term rate of return sufficient to reduce the risk of potential adverse consequences resulting from unanticipated donation shortfalls or major capital expenses. In seeking adequate returns to achieve these goals, the investment committee of the board of trustees will take into account and moderate the various measures of risk including but not limited to liquidity and volatility. Risk will be measured on the total portfolio and not on individual components and should be in line with the objectives of the endowment and its expected rate of return. The school has a policy of appropriating for distribution, as needed, amounts for the purpose of scholarships and financial aid, special programs, capital improvements, and academic and athletic support programs. In establishing this policy, the school considered the long-term expected return on its endowment. This is consistent with the school's objective to maintain the purchasing power of its endowment. From time to time, the fair value of assets associated with individual donor-restricted endowment funds may fall below the level that the donor imposed restrictions require the school to retain as a fund of perpetual duration. Such deficiencies amount to $23,701 as of june 30, 2024, with an original gift value of $95,470”

“Change in beneficial interest in perpetual trust 11,550. Loss on uncollectible contributions receivable -35,617. Special event expenses 59,564.”

“Special event expenses 59,564.”