Dave Thomas Foundation for Adoption

“The foundation's quasi-endowment was established in 2017 and consists of various investment funds established primarily for the support of the foundation's mission. Its quasi-endowment represents board-designated endowment funds. As required by u.s. Gaap, net assets associated with endowment funds, including funds designated by the board to function as endowments, are classified and reported based on the existence or absence of donor-imposed restrictions. Together, the endowment investment and quasi-endowment investment represent the endowment funds. The foundation manages its endowment funds in accordance with uniform prudent management of institutional funds act, which permits a nonprofit organization to appropriate investment income and appreciation on endowment funds for operations in absence of donor restrictions. Annual distributions are spent in accordance with the endowment funds spending policy. The foundation's spending policy permits withdrawals not to exceed 3% of the average market value of the fund's assets for the 12 consecutive calendar quarters ending december 31 of the year proceeding the current fiscal year. The distribution of income remains at the discretion of the executive board within the direction of the budget process. In addition, the foundation's investment policy outlines a philosophy and attitude that guides the investment management of the assets toward the desired results. It is intended to be sufficiently specific to be meaningful, yet flexible enough to be practical. To satisfy its long-term rate-of-return objectives, the foundation relies on a total return strategy in which investment returns are achieved through both capital appreciation (realized and unrealized) and current yield (interest and dividends). The foundation targets a diversified asset allocation that places a greater emphasis on equity-based investments to achieve its long-term return objectives within prudent risk constraints.”

“The foundation is a not-for-profit organization as described in section 501(c)(3) of the internal revenue code and is exempt from federal and state income taxes on trade or business profits generated by activities related to the foundation's exempt function. The foundation may be subject to federal and state income taxes for profits generated from trade or business activities unrelated to the foundation's exempt function. The foundation has processes presently in place to ensure the maintenance of its tax-exempt status, identify and report unrelated business income and determine its filing and tax obligations in jurisdictions for which it has nexus. As of june 30, 2025 and 2024, the foundation believes that it has not generated any unrelated business taxable income. The foundation recognizes the tax benefit from uncertain tax position only if it is more likely than not that the tax position would be sustained on examination by the taxing authorities, based on the technical merits of the position. The amount recognized is the largest amount of tax benefit that has a greater than 50% likelihood of being realized upon examination. Interest and penalties related to unrecognized tax benefits are classified as income tax expense. Generally, the foundation is no longer subject to u.s. Federal, state and local or non-u.s. Income tax examinations by tax authorities for years before 2022.”

“Special events direct expenses - deducted against income 189,235.”

“Special events direct expenses - deducted against income 189,235.”

“Grant recovery 2,634,215.”