Hiram College

“Enforcement of easements - the college periodically monitors the requirements of the easements. This monitoring is performed by professional biologists.”

“Reporting of conservation easements - the college does not book revenue, expenses, or assets in its financial statements for its conservation easements.”

“Description of the college's collections - hiram college received works of art which enhance the college's art programs as well as bringing visitors to campus. The collection provides additional opportunities for students and staff to interact and network with the larger community.”

“Intended use of endowment funds - the college's endowments support scholarships, academic programs, faculty salaries, and the operating expenses of the college.”

“Fin 48 (asc 740 footnote): income taxes - the internal revenue service has determined the college to be exempt from federal income taxes under section 501(c)(3) of the internal revenue code. Property management (a related entity) is exempt from tax under section 501(c)(2) of the internal revenue code and applicable state/law, except for taxes pertaining to unrelated business taxable income, if any. 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 to be sustained in a tax 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 may 31, 2025.”

“Change in value of beneficial interest 374,717. Revaluation of unitrusts & annuities -12,574. Revenue of subsidiary 65,911.”

“Student financial aid which was shown on financial statements as a reduction of revenue but as an expense on part ix of form 990 11,160,059.”

“Expenses of subsidiary 45,904.”

“Student financial aid which was shown on financial statements as a reduction of revenue but as an expense on part ix of form 990 11,160,059.”

“The amount on line 1c in the "current year" column consists of the following: restatement of beginning balance as part of the current year's audit process: ($24,000,000); investment return for the current year: $2,412,826; loans: ($11,000,000); total for line 1c: ($32,587,174).”