The Good Shepherd Fund

“The good shepherd fund serves as a custodian for various assets owned by others. The purpose for this relationship is to manage and invest funds for others as well as providing certain services to individuals ranging from basic bill paying to making sure the conservatee or beneficiary is properly housed, cared for, and that food, medical care and special personal needs are met. Included in this category are the assets of several bethesda lutheran communities endowment funds, which are maintained in the money market funds by the fund.”

“The good shepherd fund endowments consist of donor restricted individual funds established for earnings theron to support general operations, trust and conservatorship services, and the pal program.”

“The organization was granted a tax-exempt status for federal income taxes under section 501(c)(3) of the internal revenue code and state income taxes under section 23701(d) of the california revenue taxation code. Accordingly, no provision for income taxes has been made in the accompanying statements. In addition, the organization qualifies for the charitable contribution deduction under section 170(b)(1)(a) of the internal revenue code and has been classified as an organization that is not a private foundation under section 509(a)(1) of the internal revenue code. The organization accounts for the requirements associated with uncertainty in income taxes using the provisions of fasb asc 740-10-25 recognition of income taxes. Accordingly, an entity shall initially recognize the financial statement effects of a tax position when it is more-likely-than not, based on the technical merits, that the position will be sustained upon examination. It also provides guidance for derecognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. As of december 31, 2022, the organization has no uncertain tax positions that qualify for either recognition or disclosure in the financial statements.”