Muskingum University

“The conservation easements is a national historic district that extends onto campus and muskingum has one building (paul hall) listed on the national register of historic places. Maintenance and repairs for these buildings are reported in capital and maintenance expense. In 2021, the historic district was expanded to include most of the campus.”

“Collections of art, historical treasurers or other similar asset. Collections of art consist of student and other art works maintained for use and viewing by future generations. No sfas 116 disclosure of art is included in the university's financial statements.”

“The university uses a total return investment management policy to determine the endowment spending. The university has a policy which utilizes an amount of 4.5% of the prior five-year quarterly average market value of the endowment fund. The actual spending rate for fiscal 2021 was 4.08%. This total return concept allows a portion of accumulated unrealized and realized capital gains to be used for current operations.”

“The university has been determined to be exempt from federal income taxes under section 501(a) of the internal revenue code of 1986 (the "code"), as an organization described in sections 501(c)(3) and 170(b)(i)(a)(ii) of the code. Accounting principles generally accepted in the united states of america prescribe recognition thresholds and measurement attributes for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. Tax benefits will be recognized only if a tax position is more-likely-than-not sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized will be the largest amount of tax benefit that is greater than 50% likely being realized on examination. For tax positions not meeting the more-likely-than-not test, no tax benefit will be recorded. Management has concluded that they are unaware of any tax benefits or liabilities to be recognized at june 30, 2021 and 2020. The university would recognize interest and penalties related to unrecognized tax benefits in interest and income tax expense, respectively. The university has no amounts accrued for interest or penalties for the years ended june 30, 2021 and 2020. The university does not expect the total amount of unrecognized tax benefits to significantly change in the next 12 months. The university is no longer subject to examination of its tax returns for years prior to 2018.”

“Student discounts -23,426,799. Change in annuity obligation -277,780. Change in postretirement benefit obligation -16,477.”

“Fundraising expense -2,641. Inventory cost of goods sold -14,265. Judicial board fees 50.”

“Fundraising expense 2,641. Inventory cost of goods sold 14,265. Judicial board fees -50.”

“Student discounts 23,426,799. Change in annuity obligation 277,780. Change in postretirement benefit obligation 16,477.”