Versiti Indiana Inc

“Endowments the intended use of the organization's endowment funds is to perpetuate the mission of versiti indiana, inc. Additionally, the filing organization is a beneficiary of the versiti blood research institute foundation's ("vbrif") endowment as a supported organization. The vbrif board designated endowment funds are designated by the board as endowment funds to ensure the continuing availability of funds for research purposes. The amount of the vbrif total endowment as of 12/31/2024 was $113,515,359 and was all board restricted.”

“Income taxes versiti, wisconsin, illinois, michigan, indiana and the foundation have all received tax determination letters confirming that the organizations qualify as tax-exempt organizations under section 501(c)(3) of the internal revenue code (irc). The organization follows guidance that clarifies the accounting for uncertainty in tax positions taken or expected to be taken in a tax return, including issues relating to financial statement recognition and measurement. This guidance provides that the tax effects from an uncertain tax position can only be recognized in the financial statements if the position is more likely than not to be sustained if the position were to be challenged by a taxing authority. The assessment of the tax position is based solely on the technical merits of the position, without regard to the likelihood that the tax position may be challenged. Versiti, wisconsin, illinois, michigan, indiana and the foundation are exempt from federal income tax under irc section 501(c)(3), though they are subject to tax on income unrelated to their exempt purposes, unless that income is otherwise excluded by the irc. The organization has processes presently in place to ensure the maintenance of its tax-exempt status; to identify and report unrelated income; to determine its filing and tax obligations in jurisdictions for which it has nexus; and to identify and evaluate other matters that may be considered tax positions. The organization files federal and state income tax returns to report unrelated business income where applicable, and with few exceptions, those periods generally remain open three years for federal purposes and four years for state purposes. The statute of limitations will remain open for any years where returns were not filed. The organization has determined that there are no material uncertain tax positions that require recognition or disclosure in the consolidated financial statements. The organization recognizes, if necessary, interest and penalties related to unrecognized tax benefits in the provision for income taxes. There were no material interest or penalties related to income taxes that have been accrued or recognized as of and for the years ended december 31, 2024 and 2023.”

“Gain on disposition of fixed assets 18,875. Loss on finance leases 15,514. Gain on operating leases 16,447.”

“Gain on disposition of fixed assets -18,875. Loss on finance leases -15,514. Gain on operating leases -16,447. Bad debt reserve adjustment 1,611.”