Nevada Public Radio

“Nvpr is exempt from federal income tax under section 501(c)(3) of the internal revenue code. In addition, nvpr qualifies for the charitable contribution deduction under section 170(b)(1)(a). In the preparation of tax returns, tax positions are taken based on interpretation of federal, state, and local income tax laws. In accordance with the accounting standards, management periodically reviews and evaluates the status of uncertain tax positions and makes estimates of amounts, including interest and penalties, ultimately due or owed. No amounts have been identified, or recorded as uncertain tax positions. Nvpr would recognize future accrued interest and penalties in income related to unrecognized tax benefits and liabilities in income tax expense if such interest and penalties are incurred. Federal, state, and local tax returns generally remain open for examination by the various taxing authorities for a period of three to six years.”

“Fundraising expenses reported net of revenue change in value of beneficial interest in trusts”

“Expired certificates reported net of contribution”

“Fundraising expenses reported net of revenue”

“Expired certificates reported net of contribution”

“During the year ended september 30, 2020, nvpr requested that the district court of nevada remove all donor restrictions on the remaining corpus and accumulated earnings of endowments, which was approved and released to net assets without donor restrictions. At september 30, 2019, nvpr had two term endowments and one perpetual endowment. Both term endowments were established per agreements with the donald w. Reynolds foundation. The first of these (endowment #1) had an original corpus of $906,452. The corpus and earnings on the investment are restricted for providing maintenance and upkeep of the building donated by the donald w. Reynolds foundation. During the year ended september 30, 2013, the donald w. Reynolds foundation reclassified endowment #1 from a permanent endowment to a term endowment which allows nvpr to spend up to 5% of the corpus per year. During the year ended september 30, 2019, the donor approved the redesignation of $31,810 of that original corpus for operations, which was released to net assets without donor restrictions. The second term endowment (restricted fund for programs) was received during the year ended september 30, 2019, with an original corpus of $906,452. The earnings on the investment and 5% of the corpus may be spent on programs and operations each year. During the year ended september 30, 2019, the donor approved the redesignation of $425,557 of that original corpus for operations, which was released to net assets without donor restrictions. The permanent endowment (endowment #2) had an original corpus of $850,310 with the earnings on the investment to be used for general operations. During the year ended september 30, 2019, certain donors approved the redesignation of $380,000 of that original corpus for operations, which was released to net assets without donor restrictions.”