Lutheran Family Services of Ne Inc

“The assets of the endowment are held by lutheran family services foundation inc., a related entity. The foundation's endowment funds consist of donor restricted endowment funds and funds designated by the governing board to function as an endowment. As required by gaap, net assets associated with endowment funds, including funds designated by the board of directors to function as endowments, are classified and reported based on the existence or absence of donor imposed restrictions. The board of directors of the organization has interpreted the nebraska uniform prudent management of institutional funds act (nupmifa) as requiring the preservation of the fair value of the original gift as of the gift date of the donor restricted endowment funds absent explicit donor stipulations to the contrary. As a result of this interpretation, the organization retains in perpetuity (a) the original vaue of the gifts donated to the endowment, (b) the original value of subsequent gifts to the perpetual endowment, and (c) accumulations to the perpetual endowment made in accordance with the direction of the applicable donor gift instrument at the time the accumulation is added to the fund. Donor restricted amounts not retained in perpetuity are subject to appropriation for expenditure by the organization in a manner consistent with the standard of prudence prescribed by nupmifa. In accordance with nupmifa, the organization considers the following factors in making a determination to appropriate or accumulate donor restricted endowment funds: 1. The duration and preservation of the fund 2. The purposes of the organization and the donor-restricted endowment fund 3. General economic conditions 4. The possible effect of inflation and deflation 5. The expected total return from income and the appreciation of investments 6. Other resources of the organization 7. The investment policies of the organization.”

“Lutheran family services is a not-for-profit corporation as described in section 501(c)(3) of the internal revenue code. The entity has received a determination letter that it is exempt from federal income taxes on related income pursuant to section 501(a) of the internal revenue code. The internal revenue service has established standards to be met to maintain the organization's tax-exempt status. The organization accounts for uncertainties in accounting for income tax assets and liabilities using guidance included in financial accounting standards board, accounting standards codification (fasb asc) topic 740, income taxes. The organization recognizes the effect of income tax positions only if those positions are more likely than not of being sustained. At december 31, 2024, the organization had no uncertain tax positions accrued.”