Research Support Fund

“Research support fund has established a permanently restricted endowment fund initially of four million dollars ($4,000,000) called the "peri endowment". The investment income of the peri endowment will accumulate for twenty-five (25) years. The peri endowment, together with the income and gains therefrom, shall be irrevocably committed to political economy research institute (peri). In 2022, research support fund reached an agreement with peri, umass amherst foundation, and umas amherst to contribute the funds to umass amherst in exchange for funding to peri operations in perpetuity.”

“Research support fund 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 authority. If a tax position or positions are deemed to result in uncertainties of those positions, the unrecognized tax effect is estimated based on a "cumulative probability assessment" that aggregates the estimated tax liability for uncertain tax positions. Interest and penalties, if any, are accrued as a component of general and administrative expenses when assessed. Research support fund is a not-for-profit organization that is exempt from income taxes under section 501(c)(3) of the internal revenue code and classified by the internal revenue service as other than a private foundation. Similar to other tax-exempt organizations, research support fund is subject to tax on unrelated business income. Tax years prior to 2020 are no longer subject to examination by taxing authorities. During the years ended december 31, 2023 and 2022, research support fund did not have net taxable income from unrelated business activities; therefore, there is no provision for income taxes or interest and penalties related to unrecognized tax benefits.”