Mario Lemieux Foundation

“The foundation's net assets without donor restrictions include a board-designated investment fund established primarily for support of the foundation's mission. As permitted by gaap, amounts designated by governing bodies for specific purposes may be included in current funds without donor restrictions, or those amounts may be accounted for in other funds, such as endowment funds. These designated funds are known as quasi endowments when accounted for as part of endowment funds and are classified and reported based on the existence or absence of donor-imposed restrictions. The use of board-designated funds toward the payment of grant awards is permissible in the event of a financial need. No donor-imposed restriction exists for the portion of the net assets designated by the board. The board follows its investment policy, which governs its endowment fund. The foundation follows a total return policy; however, the long-term preservation of the real value of the assets is taken into consideration when the board elects a spending amount. On an annual basis, the foundation elects a spending rate as approved by the board. The foundation has adopted a written investment policy, of which a section specifically relates to its endowment fund. The foundation considers the following factors in making a determination to set a spending rate: 1. Protecting the corpus of the endowment fund 2. Preserving the spending power of the assets 3. Obtaining maximum investment return with reasonable risk and operational consideration 4. Complying with applicable laws”

“The foundation is organized under section 501(c)(3) of the internal revenue code (irc) and, as such, is exempt from income taxes. In addition, the foundation has been determined not to be a private foundation under section 509 of the irc. The foundation follows the guidance for uncertainty in income taxes, which provides criteria for the recognition and measurement of uncertain tax positions. This guidance requires that an uncertain tax position should be recognized only if it is "more likely than not" that the position is sustainable based upon its technical merits. Recognizable tax positions are then measured to determine the amount of benefit recognized in the financial statements. The foundation files u.s. Federal, state and local information returns and no returns are currently under examination. The statute of limitations on the foundation's u.s. Federal tax returns remains open for the year ended september 30, 2021, through the present. The foundation continues to evaluate its tax positions pursuant to the principles of such guidance and has determined that there are no uncertain tax positions.”

“COST OF GOODS SOLD: 289.”

“COST OF GOODS SOLD: 289.”