La Rabida Children'S Hospital

“The Hospital's endowments consist of individual funds which were established to support the special services provided by the Hospital which are not covered by Medicaid and other third-party payors. The principal of the endowments must be maintained in perpetuity. Income earned on the endowments may be spent on the special services designated by the donors.”

“The Hospital is a tax-exempt organization under Internal Revenue Code Section 501(c)(3) and, accordingly, no income taxes are provided for in the accompanying financial statements. The Hospital follows the Financial Accounting Standards Board (FASB) - issued guidance for accounting for uncertainty in income taxes. The Hospital files a Form 990 (Return of Organization Exempt from Income Tax) annually. When this return is filed, it is highly certain that some positions taken would be sustained upon examination by the taxing authorities, while others may be subject to uncertainty about the merits of the position taken or the amount of the position that would ultimately be sustained. Examples of tax positions common to not-for-profit hospitals include such matters as the following: the tax-exempt status of the entity, the nature, characterization and taxability of joint venture income and various positions relative to potential sources of unrelated business income (UBI). The Hospital had no UBI for the years ended June 30, 2024 and 2023. The benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes that it is more likely than not that the position will be sustained upon examination, including the resolution of appeals or litigation processes, if any. Tax positions are not offset or aggregated with other positions. Tax positions that meet the "more likely than not" recognition threshold are measured as the largest amount of tax benefit that is more than 50 percent likely to be realized on settlement with the applicable taxing authority. The portion of the benefits associated with tax positions taken that exceeds the amount measured as described above is reflected as a liability for unrecognized tax benefits in the accompanying balance sheets along with any associated interest and penalties that would be payable to the taxing authorities upon examination. Forms 990 filed by the Hospital are subject to examination by the Internal Revenue Service up to three years from the extended due date of each return.”

“Change in Pension Obligation 696,350.”

“Bad Debt Expense 698,224. Fundraising Event Expenses -248,358.”

“Fundraising Event Expenses 248,358.”

“Bad Debt Expense 698,224.”