Kutztown University Foundation Inc

“The pennsylvania german cultural heritage center collection consists of structures and artifacts depicting the lifestyle of the pennsylvania german people who inhabited the greater kutztown area during the 18th and 19th centuries. The collection supports kutztown university's pennsylvania german studies programs and is open to the community for educational visits. A second collection at the center for mallet percussion research consists of rare musical instruments. This collection is also open to the community for educational visits and supports the percussion program at kutztown university.”

“Scholarships for students attending kutztown university and to support kutztown university's academic programs and departments.”

“The foundation is exempt from federal income tax under section 501(c)(3) of the internal revenue code. As a not-for-profit organization, the foundation is generally exempt from federal and state income taxes. The foundation is subject to federal and state income taxes on unrelated business income. The foundation recognizes penalties and interest accrued related to income tax liabilities in the provision (benefit) for income taxes in its statements of activities. For the years ended june 30, 2024 and 2023, there were no accruals for the payment of penalties and interest. When tax 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 position taken or the amount of the position that would be ultimately sustained. The benefit of a tax position is recognized in the financial statements 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 appeals or litigation processes, if any. Tax positions taken 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% likely of being realized upon 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 statements of financial position, along with any associated interest and penalties that would be payable to the taxing authorities upon examination. The foundation files tax returns in the u. S. Federal jurisdiction. The foundation's income tax returns are not subject to examination through the year ended june 30, 2021.”

“Events expense 124,101. Kutztown resource management income 486,960. Rental expenses 82,260. Kutztown pennsylvania german festival 563,017. Change in value of interest rate swap -371,250. Change in value of charitable gift annunities -59,223. Hotel operations 3,215,809. Gaming expenses 9,663.”

“Interest from kutztown pennsylvania german festival (eliminated in consol.) 34,910. Rounding 2. Other eliminations 10,309.”

“Gaming expense 9,663. Events expense 124,101. Golden bear ventures inc 18,034. Kutztown pennsylvania german festival 594,379. Kutztown resource management expenses 264,241. Rental expenses 69,593. Ursus aureus inc 3,632,424. Ursus solaris inc 35,318.”

“Debt forgiveness elimination 1,664,778. Rounding 2. Kuf/festival elimination 41,043. Kuf/ua elimination 62,500. Other eliminations 4,176. Consolidating income tax elimination 902,795.”