Ahp Foundation

“The foundation is the trustee and agent for amounts contributed to its pooled income fund investments (pif). The pif is comprised of irrevocable split-interest agreements in which a donor contributes an amount to the trust and, in exchange, receives a life annuity. Each annuity is based on the total rate of return of the fund each quarter and is allocated based on a pro rata share of units held at the end of each quarter. Upon the donor's death, the trust distributes the funds to the participating healthcare association that the donor has designated.”

“The primary use of the endowment funds is for scholarships provided to the members of the association for healthcare philanthropy for attendance at the ahp madison institute or the ahp international conference.”

“Ahp is exempt from federal income taxes under section 501(c)(6) of the internal revenue code. The foundation is exempt from federal income taxes under section 501(c)(3) of the internal revenue code. The association, however, is required to report unrelated business income to the internal revenue service (irs) and the state of virginia. The association incurred unrelated business income tax expense of $0 for the years ended june 30, 2023 and 2022. The income tax positions taken by the association for any years open under the various statutes of limitations are that the association continues to be exempt from income taxes and that the association has properly reported unrelated business income that is subject to income taxes. The association believes that there are no tax positions taken or expected to be taken that would significantly increase unrecognized tax liabilities within 12 months of the reporting date. None of the association's federal or state income tax returns are currently under examination.”