Wagner College

“Endowment funds wagner college maintains an endowment fund for all contributions to the college that are permanently restricted by the donor. Permanently restricted contributions are all gifts given to the college for which the donor instructs the college never to spend the original gift. Often, when contributors give permanently restricted gifts to the college, they will allow the income earned on the funds to be used for various purposes. Such income is classified as temporarily restricted endowment net assets; these assets are principally used for plant projects, land improvements, and various program support. Some of these assets may also be used for scholarships if so directed by the donor. Other temporarily restricted net assets may also be time restricted. The college's endowment consists of approximately 250 individual donor-restricted funds established for a variety of purposes. The college has an endowment spending policy for endowment funds that do not have a spending policy prescribed in the gift document. The college's endowment totals $105,120,848 as of august 31, 2023, of which $68,519,134 is classified as permanently restricted net assets, $12,786,197 is classified as temporarily restricted net assets, and $23,815,517 is classified as unrestricted net assets. The unrestricted endowment net assets represent board-designated endowment funds.”

“Accounting for uncertainty in income taxes the college has been classified as a section 501(c)(3) organization and is exempt from federal income taxes under section 501(a) of the internal revenue code and similar provisions under new york state tax laws. Accordingly, no provision for income taxes has been reflected in the accompanying financial statements. The college follows guidance that clarifies the accounting for uncertainty in tax positions taken or expected to be taken in a tax return, including issues relating to financial statement recognition and measurement. This standard requires that a tax position be recognized or derecognized based on a "more likely than not" threshold and applies to positions taken or expected to be taken in a tax return. During the years ended august 31, 2023 and 2022, the college evaluated its tax positions and concluded that it does not have any uncertain tax positions that meet the criteria under the standard. The tax years ending august 2021, 2022, and 2023 are still open to audit for both federal and state purposes. The college has processes presently in place to ensure the maintenance of its tax-exempt status; to identify and report unrelated income; to determine its filing and tax obligations in jurisdictions for which it has nexus; and, to identify and evaluate other matters that may be considered tax positions.”

“$45,611,800 represents total scholarships and fellowships for the fiscal year less total expenses related to the golf classic fundraising event for the fiscal year. Part xi, line 9 the balance of $25,309 represents total expenses related to the golf classic fundraising event for the fiscal year. Part xii, line 4b $45,611,800 represents total scholarships and fellowships for the fiscal year.”