Society of St Vincent De Paul

“Gate of heaven conference: $3,775,197 pursuant to an agreement between the society and the gate of heaven conference (the "conference"),the society has agreed to hold, manage, invest and administer the bequest of joseph g. O'mara in accordance with applicable fiduciary standards. A separate account has been established in the name of joseph j. And ethel m. O'mara. On an annual basis, the society shall augment the account with one-half of the net income of the account. The society shall disburse the other one-half of the net income to the conference for disbursement to alleviate poverty among members of the parish as specified in the will. The unpaid balance as of september 30, 2024 was $395,423. At any time in the future, the conference may, by a two-thirds vote of all its members, rescind the agreement and take possession of the account. Society of st. Vincent de paul of st. Peter's roman catholic church: $342,944 in fiscal 2023, the society received funds in the amount of $320,101 from the robert j. O'leary trust. The beneficiary of the robert j. O'leary trust was the society of st. Vincent de paul of st. Peter's roman catholic church, concord avenue, cambridge massachusetts. St. Peter's roman catholic church was not in good standing as of the date of the distribution and the funds were sent to the society. The society invested the funds into two certificate of deposit accounts. The society will distribute the funds to st. Peter's roman catholic church upon their request. Other funds held by the society for the benefit of others: $1,000”

“The society's endowment consists of 23 individual funds established for a variety of purposes. Its endowment assets comprise donor-restricted endowment funds, and funds designated by the board of directors to function as endowments. As required by gaap, net assets associated with endowment funds, including funds designated by the board of directors to function as endowments, are classified and reported based on the existence or absence of donor-imposed restrictions. The society's investment policy, as approved by the board of directors, is based on the goal of obtaining a rate of total return in excess of the rate of inflation over an economic cycle. Assets are to be managed with the primary objective being growth and preservation of capital. The portfolio will be managed with broad asset allocation guidelines sufficient to best meet the investment goal. The endowment assets have been invested approximately 50% in equities and 50% in fixed income instruments consistent with the guidelines of the u.s. Conference of catholic bishops. Equity securities are intended to produce results that exceed the price and yield results of the s&p 500 index while assuming a moderate level of investment risk and fixed income instruments are compared to the barclay's intermediate government credit index. The society expects its endowment funds to provide an average rate of return of approximately 4 to 8 percent annually over time. Actual returns in any given year may vary from this amount.”

“The income taxes topic of the fasb accounting standards codification prescribes a recognition threshold and measurement attribute for financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. Management of the society has evaluated its uncertain tax positions and related income tax contingencies and does not believe that any material uncertain tax positions exist.”