Student Publications Incorporated

“The organization has adopted investment and spending policies for endowment assets that attempt to provide a predictable stream of funding to programs supported by its endowment while seeking to maintain the purchasing power of the endowment assets. Under this policy, as approved by the board of trustees, the investment objective of the endowment is to seek maximum total return consistent with the preservation of principal, diversification and avoidance of excessive risk. The organization will exercise reasonable care, skill and caution with regard to the investment of funds in the context of the entire portfolio which incorporates risk and return objectives reasonably suitable to the purposes of the organization. The assets are to be managed in a manner that seeks to meet these investment objectives, while at the same time attempting to reduce volatility in year-to-year spending. Actual returns in any given year may vary.”

“The organization is exempt from income taxes under provisions of section 501(c)(3) of the internal revenue code. As such, the organization is taxed only on its unrelated business income. Management has determined that the organization did not receive any unrelated business income for the years ended june 30, 2018 and 2017. When tax returns are filed, it is highly certain that some positions taken would be sustained upon examination by the taxing authorities, while others are subject to uncertainty about the merits of the position taken or the amount of the position that would be ultimately sustained. The benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes it is more likely than not that the position will be sustained upon examination, including the resolution of appeals or litigation processes, if any. The organization had no uncertain tax positions that are required to be recorded as of june 30, 2018 and 2017. The organization is no longer subject to examination by federal or state authorities for years ending before june 30, 2015.”