National Panhellenic Conference

“The foundation has a policy of appropriating for distribution each year a percentage of each endowment fund's three-year average balance according to specific written donor agreements plus a management fee of 1% to 5% annually. The formula for calculating allowable distributions shall be applied to the three-year average ending march 31, and distributions with respect to each march 31 calculation shall be made in the current fiscal year. This is consistent with the foundation's objective to maintain the purchasing power of the endowment assets held in perpetuity as well as to provide additional real growth through new gifts and investment return.”

“The foundation is organized as a not-for-profit corporation under section 501(c)(3) of the united states internal revenue code and similar state law. Additionally, the foundation has been determined not to be a private foundation under section 509(a) of the internal revenue code. Accounting principles generally accepted in the united states of america require management to evaluate tax positions taken by the foundation and recognize a tax liability if the foundation has taken an uncertain position that more likely than not would not be sustained upon examination by various federal and state taxing authorities. Management has analyzed the tax positions taken by the foundation, and has concluded that as of june 30, 2025 and 2024, there are no uncertain positions taken or expected to be taken that would require recognition of a liability or disclosure in the accompanying financial statements. The foundation has filed its federal and state income tax returns for periods through june 30, 2024, and is subject to routine audits by taxing jurisdictions. However, as of the date the financial statements were available to be issued, there were no audits for any tax periods in progress. These income tax returns are generally open to examination by the relevant taxing authorities for a period of three years from the later of the date the return was filed or its due date (including approved extensions).”