Alexander Dawson Foundation

“Land on balance sheet - no footnote”

“The foundation received a restricted donation in the name of the donald b. Ozmun scholarship for personal excellence in a prior year. The donor contributed $250,000 for the purpose of endowing a scholarship to one student at the alexander dawson school in las vegas. The scholarship allows one student to attend the school each academic year. The child shall be a child of an employee of the police, paramedic or fire department of las vegas or its surrounding communities. The fund will satisfy the cost of tuition plus up to $500 for uniforms, books, etc. It is expected that the fund create sufficient income to satisfy the annual commitment and the principal of the fund will be preserved to allow the scholarship to be funded in perpetuity. The dawson endowment will allow dawson to rely on the annual income from permanently invested funds, relieving pressure on tuition and the dawson annual fund. To be competitive with the leading college preparatory schools, dawson must: -continue to create innovative programs -attract exceptional, motivated and naturally curious students, regardless of financial need, and -recruit, reward, and retain the most talented and experienced teachers. Funds contributed to the endowment campaign will give dawson the resources to ensure faculty, staff and academic excellence.”

“The foundation adopted the provisions of fasb asc topic 740-10, accounting for income taxes. The foundation files a form 990 (return of organization exempt from income tax), and adi and its subsidiaries file a consolidated form 1120, annually. When these returns are filed, it is highly certain that some positions taken would be sustained upon examination by the taxing authorities, while others are subject to uncertainty about the merits of the tax position taken or the amount of the position that would be ultimately sustained. Examples of tax positions common to the foundation include such matters as the tax status of each entity and various positions relative to potential sources of unrelated business taxable income (ubti). Ubti is reported on forms 990-t and 1120, as appropriate. The benefit of a tax position in the consolidated financial statements is in the period during which, based on all available evidence, management believes it is more likely than not that the position will be sustained upon examination, including the resolution of appeal or litigation processes, if any. Tax positions are not offset or aggregated with other positions. Tax positions that meet the "more likely than not" recognition threshold are measured as the largest amount of tax benefit that is more than 50 percent likely to be realized on settlement with the applicable taxing authority. The portion of the benefits associated with tax positions taken that exceeds the amount measured as described above is reflected as a liability for unrecognized tax benefits in the accompanying consolidated statements of financial position, along with any associated interest and penalties that would be payable to the taxing authorities upon examination. As of june 30, 2015 and 2014, the foundation has addressed uncertainty in its income tax positions under asc topic 740-10, and there are no unrecognized tax benefits requiring an accrual.”