Masonic Education and Charity Trust

“The grand lodge had previously transferred its building at 186 tremont street, boston, massachusetts to the trust. The transfer of real estate from the grand lodge to the trust was at all times subject to the reserved perpetual power of the grand lodge to all rents and profits and to the exclusive right to use and occupy the same. The value of the transferred real estate was the fair market value of a remainder interest only in the premises at 186 tremont street, which remainder interest was subject to the perpetual right of the grand lodge to all rents and profits and the exclusive use and occupation thereof in perpetuity. The grand lodge has reflected its rights to the use and profits of the building in the trust at $1,237,800 which was the value of the premises on the grand lodge's books immediately prior to the transfer to the trust.”

“Overlooking the boston common is the majestic, grand lodge of masons in massachusetts. One of the oldest institutions in downtown boston, the current building at 186 tremont street is the thrid grand lodge structure erected on the site. Built in 1898, it houses many treasures of great historical significance. It has six meeting halls, a research library dedicated to freemasonry, and the administrative offices for the grand lodge and other masonic bodies and programs. The building and library are open to the public, and tours are available on monday, wednesday, and friday at 10:30 am and 2:00 pm. Once you walk inside the building, you will be in the grand lodge lounge which is adorned with tessellated squares of black and white terrazzo and glass cases that display classic masonic memorabilia. Also on the first floor is the paul revere banquet hall, decorated with a portrait of revere and many eminent freemasons. The samuel crocker lawrence library at the grand lodge of massachusetts is reputed to contain the finest and most extensive collection of masonic information in the western hemisphere. In addition to 70,000 volumes, it contains bound copies of grand lodge proceedings dating back to 1733.”

“The masonic education and charitable trust holds and invests funds for the masonic home, inc., the grand lodge of masons in massachusetts and other masonic organizations. Net income and funds are distributed to these organizations for their charitable programs.”

“The trust accounts for the effect of any uncertain tax positions based on a "more likely than not" threshold to the recognition of the tax positions being sustained based on the technical merits of the position under scrutiny by the applicable taxing authroity. If a tax position or positions are deemed to result in uncertainties of those positions, the unrecognized tax benefit is estimated based on a "cumulative probability assessment" that aggregates the estimated tax liability for all uncertain tax positions. The trust has identified its tax status as a tax-exempt entity as a tax position; however, the trust has determined that such tax position does not result in an uncertainty requiring recognition. The trust is not currently under examination by any taxing jurisdictions. The trust's federal and state tax returns are open for examination for three years following the date filed.”