Ohio State Bar Foundation

“Intended use of the organization's board designated funds and restricted net assets: (1) chief justice moyer legacy fund-during 2010, the foundation's board of trustees established the chief justice moyer legacy fund. This fund was created to recognize the impact the late chief justice moyer had on ohio's justice system. The goal of the fund is to support efforts that were important to chief justice moyer, including the administration of justice and public understanding of the law in the state of ohio. Contributions will support: -endowing a chief justice moyer professorship for the administration of justice and rule of law at the ohio state university moritz college of law to honor and continue chief justice moyer's legacy of integrity and professionalism, and thereby deepen the impact of these qualities on the lives of countless students and on the law itself. -making fellowship grants to law students at ohio law schools to support rotating fellowship awards furthering statewide legal education initiatives and programs allowing exceptional law students to pursue the concepts of ethics, civility and the rule of law which guided chief justice moyer throughout his career. (2) designated for rent-under a three-party agreement among the foundation, the association (the term "association," when used in this section, refers to the ohio state bar association, a 501(c)(6) non-profit organization), and the ohio state university, the foundation owned a portion of the fee in the ohio legal center building. The foundation raised a portion of the funds for the construction of that building. Negotiations among the parties concerning vacating the ohio legal center and relocation to the association building resulted in the following, which was supported by an internal revenue service private letter ruling issued december 24, 1990. The private letter ruling stipulated the following: the deposit of funds will be in an interest-bearing account, the interest of which is to be paid to the association in consideration of the foundation's right to occupy space. The foundation will receive certain ancillary services from the association, at no cost. As compensation for its right of possession in the ohio legal center, the foundation received $153,000 from the ohio state university and the right to occupy a portion of the new association building for as long as association occupies such building. This arrangement was documented by a written occupancy agreement between the association and the foundation. (3) education in real property law (bradley j. Schaeffer memorial fund)-in november 1992, the foundation's board of trustees accepted and adopted the bradley j. Schaeffer memorial fund. This fund was established to perpetuate the memory of bradley j. Schaeffer, a laureate of the foundation, because of the significant contributions he made to real property law practice in the state of ohio. In november 2001, the board resolved to continue to maintain the fund, making an appropriate portion of the fund available to the real property section of the association for the purpose of assisting that section in sponsoring and presenting an annual program, to be known as "the bradley j. Schaeffer real property institute." amounts to be expended shall be requested annually, subject to such annual limits, as to enable the funding of the bradley j. Schaeffer real property institute indefinitely. (4) the friends and neighbors endowment (fane) fund was established in 2005 in recognition of 10 years of service by a former executive director of the foundation. While contributions by fellows and life fellows are welcome, this fund also encourages involvement by non-lawyers, law firms, businesses and others who are not eligible to become foundation fellows. Investment income earned on this fund will be used to fund foundation programs. (5) the denny l. Ramey educational fund was established during 2012. This fund was created to acknowledge the service and heritage of mr.”

“Accounting standards require the evaluation of tax positions taken, or expected to be taken, in the course of preparing the foundation'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 foundation has taken any material uncertain tax positions, including any position that would place the foundation's exempt status in jeopardy, as of december 31, 2024 and 2023.”

“Like-kind revenue 12,091.”

“Like-kind expenses 12,091.”

“Unused grant funds 37,897.”