Mendota Lutheran Home Bk 20-02769

“The unrestricted board designated fund has an account balance of $140,974 at December 31, 2015. These funds were set aside by the Board of Directors to be utilized by Mendota Lutheran Home to provide educational scholarships to its employees.A more detailed explanation of the unrestricted board designated fund can be found in Note (12) of the audited financial statements of Mendota Lutheran Home. Temporarily restricted contributions represent various donations made to Mendota Lutheran Home during 2015 that were directed by the donors to be utilized for specific purposes or carry time restrictions for usage. The temporarily restricted balance at December 31, 2015 was $303,958. The restrictions on this balance is designated for the following uses: nursing and activity progrmas, food pantry, scholarship funds, and time restrictions for receipt.A more detailed explanation of temporarily restricted contributions can be found in Note (13) of the audited financial statements of Mendota Lutheran Home. The permanently restricted endowment fund has an account balance of $1,297,354 at December 31, 2015. The permanently restricted endowment fund is derived from three bequests that have specific intended uses. The primary uses of the interest and investment income income derived from these funds is specified to be utilized for on-going operations of the facility with a portion directed to provide service funds to the employees of the organization.A more detailed explanation of the unrestricted board designated fund can be found in Note (14) of the audited financial statements of Mendota Lutheran Home.”

“Generally Accepted Accounting Principles prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in tax returns. The amount recognized is measured as the largest amount of benefit that is more likely that not of being realized upon settlement. Mendota Lutheran Home has determined that it does not have any significant risks related to income tax expense and therefore no amounts were reserved for uncertain tax positions as of December 31, 2015.”