The Cooper Institute

“Use of the organization's endowment fund the endowment fund is used to help further the organization's mission by providing funds for pilot programs, biomedical research, and development of physical training and educational programs.”

“Fin 48 (asc 740) following is the footnote from the text of the organization's audited financial statements: the institute is exempt from federal income tax under 501(c)(3) of the united states internal revenue code (the "code"), except to the extent it has unrelated business income. In addition, the institute has been determined by the internal revenue service not to be a private foundation within the meaning of section 509(a) of the code. For the years ended june 30, 2016 and 2015, the institute had no net unrelated business income. Accordingly, no provision for income tax has been provided in the accompanying financial statements. Gaap requires the evaluation of tax positions taken or expected to be taken in the course of preparing the institute's tax returns to determine whether the tax positions are more likely than not of being sustained by the applicable tax authority. Tax positions not deemed to meet the more-likely-than-not threshold would be recorded as a tax benefit or expense in the current year. A reconciliation is not provided herein, as the beginning and ending amounts of unrecognized benefits are zero, with no interim additions, reductions, or settlements. However, the conclusions regarding accounting for uncertainty in income taxes will be subject to review and may be adjusted at a later date based on factors including, but not limited to, ongoing analysis of tax laws, regulations, and interpretations thereof. The institute's informational returns filed in the u.s. Federal jurisdiction are generally subject to examination for three years after the later of the due date or date of filing. As a result, the institute is no longer subject to income tax examinations by tax authorities for years prior to fiscal year 2013.”

“Reconciliation of revenue loss on disposal of asset netted with revenue -88,742. Rental expenses netted with rental income -306,372. Fundraising dinner expenses netted with fundraising revenue -75,319.”

“Reconciliation of expenses rental expenses netted with rental income 306,372. Fundraising dinner expenses netted with fundraising revenue 75,319.”