Methodist Theological School in Ohio

“Collections of works of art, historical treasures and similar assets are capitalized as long as the items are preserved and cared for continuously. Purchases of collection items are reported in the year of acquisition as decreases in unrestricted net assets, or in temporarily or permanently restricted net assets, if the assets used to purchase the items were restricted to that use by donor stipulation. Contributions of collection items are not reported in the consolidated financial statements. Proceeds from disposal of and insurance recoveries related to collection items are reported as increases in the appropriate net asset classes. The school's collections consist of various works of art, such as paintings and other framed artwork, various library holdings and miscellaneous objects.”

“The collection consists of works of art, such as paintings and other framed artwork, various library holdings and miscellaneous objects. The collection is available for scholarly research and public exhibition.”

“The intended use of the endowment assets is to preserve the real purchasing power of the assets and provide a growing stream of income to be made available for spending and keeping pace with inflation, in order to sustain the educational and general operations of the school.”

“Accounting standards require the evaluation of tax positions taken, or expected to be taken, in the course of preparing the school's tax returns, to determine whether the tax positions are "more-likely-than-not" of being sustained by the applicable tax authority. This statement provides that a tax benefit from an uncertain tax position may be recognized in the financial statements only when it is "more-likely-than-not" the position will be sustained upon examination, including resolution of any related appeals or litigation processes, based upon the technical merits and consideration of all available information. Once the recognition threshold is met, the portion of the tax benefit that is recorded represents the largest amount of tax benefit that is greater than 50 percent likely to be realized upon settlement with a taxing authority. Based on its review, management does not believe the school has taken any material uncertain tax positions, including any position that would place the school's exempt state in jeopardy as of june 30, 2022.”

“Change in value of split interests 102,030.”

“SCHOLARSHIPS 1,839,904.”

“SCHOLARSHIPS 1,839,904.”