Versiti Blood Research Institute Foundation Inc

“Endowments the board designated endowment funds are designated by the board as endowment funds to ensure the continuing availability of funds for research purposes. The permanent endowment funds are designated by the donor and are subject to purpose restrictions.”

“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. Salus has been organized as a limited liability company and, accordingly, is not subject to federal or state income taxes. All income tax attributes of the entity are passed through to its sole member, wisconsin. The entity is, however, subject to texas franchise tax. The entity is included in the consolidated information return filed by versiti. Cenetron has been organized as a wholly owned llc that has elected to be treated as a c-corporation for tax purposes and so is subject to federal and state income taxes. Income taxes are provided for the tax effects of transactions reported by cenetron and consist of taxes currently due and deferred taxes. Deferred taxes are recognized for differences between the basis of assets and liabilities for financial statement and income tax purposes. The differences relate primarily to intangible assets. The deferred tax assets and liabilities represent the future tax return consequences of those differences, which will either be taxable or deductible when the assets and liabilities are recovered or settled. Cenetron is subject to taxation in the united states and the state of texas. 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, 2022 and 2021.”

“Present value adjustmnet: beneficial interest -4,275.”

“Fundraising expenses reported with revenue -67,397.”

“Bad debt reserve adjustment -45,747. Fundraising expenses reported with revenue 67,397. Pledge receivable adjustment 39,883.”