Boston Psychoanalytic Society and Institute Inc.

“The organization's endowment funds are intended for the donor advised activities relating to scholarships, memorials, building funds, etc.”

“Bpsi and bpsi s.c. Are qualified under section 501(c)(3) of the internal revenue code and are exempt from federal and state income taxes. The organizations have been classified as organizations that are not private foundations under section 509(a)(2) of the internal revenue code and qualify for the 50% charitable contributions deduction for individual donors. Since the continuance of this status is based upon continuing qualification, the organization has identified this as a tax position. However, it has determined that this tax position meets more likely than not (mltn) sustainability and does not result in an uncertainty requiring recognition. The organization does not expect any material changes in its position regarding this matter in the next twelve months. Us generally accepted accounting principles codification 740-10 (formerly fasb interpretation 48 ("fin" 48) require an entity to assess the probability that a tax position has a mltn sustainability after review by tax authorities. If a tax position is deemed not to meet this threshold, any unrecognized tax benefits and costs are estimated and recognized. Interest and penalties, if any, related to assessments by tax authorities will be classified as a component of interest expense and other expense, respectively, in the statement of activities. A tax position may be considered as taken any time a taxpayer chooses amongst alternatives that affect the amount of their tax obligations and include for example: tax exempt status; status as a pass-through entity (s corporations); decisions made in the process of conforming with tax laws; decisions not to file in certain jurisdictions; allocation of income between jurisdictions and the characterization of income or expenses. Tax returns are routinely open for review by the tax authorities for three years from their due date. In certain circumstances the statue of limitations may remain open indefinitely.”