Beta Theta Pi Fraternity

“The endowment includes both donor-restricted endowment fund and funds designated by the governing body to function as endowments (board-designated endowment funds). The foundation has adopted investment and spending policies for endowment assets that attempt to provide a predictable stream of funding to programs and other items supported by its endowment while seeking to maintain the purchasing power of the endowment. Endowment assets include those assets of donor-restricted endowment funds the foundation must hold in perpetuity or for donor-specified periods, as well as those of board-designated endowment funds. Under the foundation's policies, endowment assets are invested in a manner that is intended to produce results that exceed the need for income to fund grants that support scholarships and leadership programming while assuming levels of investment risk based on each endowment's risk tolerance and time horizon.”

“This organization is included in the consolidated audited financial statements as a subsidiary of beta theta pi general fraternity housing corporation. The following is the income tax discloure from those financial statements. The fraternity, gfhc, and baird are not-for-profit organizations that are exempt from income taxes under section 501(c) (7) of the internal revenue code. The organization is exempt from income taxes. However, the organization is required to file federal form 990 return of organization exempt from income tax which is an informational return only. The organization is subject to routine audits by taxing jurisdictions. However, as of the date the consolidated financial statements were available to be issued, there were no audits for any tax periods in progress. As a section 501(c)(7) organization, the income tax exemption is on all income except unrelated business income. An unrelated trade or business of an exempt organization is any trade or business which is not substantially related to the exercise or performance for its exempt purpose. Income earned from non-members is recognized as unrelated business income to the extent such income is not set aside for charitable and educational purposes. Income that is properly set aside must be used for the qualifying purposed outlined in the set aside resolution. The outstanding balance of funds set aside as of may 31, 2024 and 2023 was $492,482 and $400,159 , respectively. Accounting principles generally accepted in the united states of america require management to evaluate tax positions taken by the organization and recognize a tax liability if the organization has taken an uncertain position that more likely than not would not be sustained upon examination by various federal and state taxing authorities. Management has analyzed the tax positions taken by the organization, and has concluded that as of may 31, 2024 and 2023, there are no uncertain positions taken or expected to be taken that would require recognition of a liability or disclosure in the accompanying consolidated financial statements.”