Tacoma General Hospital Endowment

“Intended uses of endowment funds the intended use of tacoma general endowment is to provide program support to various programs at multicare health system per donor intent. The donor intent is outlined in the letter of understanding that is entered into at the time of the establishment of each endowment.”

“Tacoma general endowment is included in the consolidated audited financial statements of multicare health system. The footnote on the consolidated financial statements reads: "fasb asc topic 740-10, income taxes clarifies the accounting for uncertainty in income taxes recognized in mhs's consolidated financial statements. Asc topic 740-10 also prescribes a recognition threshold and measurement standard for the financial statement recognition and measurement of an income tax position taken or expected to be taken in a tax return. Only tax positions that the "more likely than not" recognition threshold at the effective date may be recognized or continue to be recognized upon adoption. In addition, asc topic 740-10 provides guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosure, and transition. Asc topic 740-10, relating to accounting for uncertain tax positions, did not have a significant impact on the consolidated financial statements of mhs. Other than medis, inc. A taxable corporation, all of the other entities have obtained determination letters from the internal revenue service that they are exempt from federal income taxes under section 501 (c )(3) of the internal revenue code, except for tax on unrelated business income."”