Massachusetts Lung Health Inc

“The organization has interpreted the relevant laws as allowing the organization to appropriate for expenditure or accumulate earnings as the organization determines is prudent for the uses, benefits, purposes and duration for which the endowment fund is established, subject to the intent of the donor as expressed in the gift instrument. Unless stated otherwise in the gift instrument, the asset in an endowment fund shall be donor restricted assets until appropriated for expenditure by the organization. Prior years' form 990s included beneficial interests in trusts with endowment funds, during 2015 the organization determined that these funds should not be included with endowment funds, therefore the prior years' endowment roll-forward activity has not been included on this form.”

“The organization is a nonprofit organization as described in section 501(c)(3) of the internal revenue code and is exempt from federal and state income taxes. As a result, no provision for income taxes is presented in these combined financial statements. However, in certain circumstances, the organization may be subject to federal and state income taxes for profits generated from unrelated trade or business income. As of june 30, 2015, management has determined that the organization does not have any liabilities associated with unrelated trade or business income. The organization assesses the recording of uncertain tax positions by evaluating the minimum recognition threshold and measurement requirements a tax position must meet before being recognized as a benefit in the combined financial statements. The organization has not recognized any liabilities for uncertain tax positions or unrecognized benefits as of june 30, 2015. The organization does not expect any material change in uncertain tax benefits within the next twelve months. As of june 30, 2015, the organization is not currently under examination by any taxing authorities but is generally open to examination for three years from the date of filing.”

“Net change in value of investments held in trust -50,043. Revenues of american lung association of the northeast, inc. (alane) 16,253,746. Net unrealized gains of alane -654,552. Net change in value of investments held in trust of alane -208,837. Change in pension benefit obligation 29,176. Net change in value of gift annuities 11,456.”

“Expenses of alane 16,722,562.”

“Expenses eliminated on consolidated financial statements 12,000.”