Richard J Caron Foundation

“The organization's endowment funds will be used to provide support to charity care and program services.”

“As a not-for-profit organization, the organization is generally exempt from federal and state income taxes. The organization is subject to federal and state income taxes on unrelated business income. The organization recognizes penalties and interest accrued related to income tax liabilities in the provision (benefit) for income taxes in its statements of penalties and interest. For the years ended june 30, 2013 and 2012, 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 consolidated balance sheets along with any associated interest and penalties that would be payable to the taxing authorities upon examination. The organization files tax returns in the u. S. Federal jurisdiction. The organization's income tax returns are not subject to examination through the year ended june 30, 2009.”

“Caron foundation of florida revenue per audited financial statement 19,054,468. Caron foundation of texas revenue per audited financial statement 6,030,362. Rental expenses, reported on part viii, line 6b 171,946. Caron foundation of bermuda revenue (foreign-source) per audited financials 444,139. Store expenses, reported on part viii, line 10b 170,001. Hanley center, inc. Revenue per audited financials 15,230,415.”

“Contractual allowance 5,956,564. Charity care 9,877,249. Collection agency fees 23,854. Payments to affiliate, reported on part ix, line 21 506,544. Intercompany eliminations 5,205,529. Fair value adjustment on interest rate swaps 95,264.”

“Caron foundation of florida expenses per audited financial statement 21,212,403. Caron foundation of texas expenses per audited financial statement 7,469,403. Rental expenses, reported on part viii, line 6b 171,946. Caron foundation of bermuda expenses (foreign-source) per audited financials 615,742. Store expenses, reported on part viii, line 10b 170,001. Hanley center, inc. Expenses per audited financials 18,826,265.”

“Contractual allowances 5,956,564. Charity care 9,877,249. Intercompany eliminations 5,205,529. Collection agency fees 23,854. Payments to affiliate, reported on part ix, line 21 506,544. Fair value adjustment on interest rate swaps 95,264.”