The Amyotrophic Lateral Sclerosis

“Permanently restricted net assets are comprised of endowment funds of donations from the bronstein memorial endowment fund which will be held in a separate investment account in perpetuity, as well as the greg l. Claunch als patient and family care endowment fund. The bronstein endowment: income from the investment is restricted to fund als-related research awards to st. Louis universities with the understanding that, if there are no such current awards/projects authorized, the endowment's income will be carried forward for up to 3 years pending such awards/projects to the extent, at the end of 3 years there are no such current awards/projects authorized, the endowment's income can then be used, temporarily, for als-related research anywhere in the united states (until such time that st. Louis awards are subsequently determined, at which point, the endowment income will again be applied in st. Louis). The claunch endowment: funds from the endowment maybe invested at the discretion of the organization and the organization may use the endowment's income up to 4% annually in accordance within the chapter's policies. Earnings in excess of 4% annually shall be deemed permanently restricted. All assets will be moved to the national organization. Though this organization still holds two endowments, the restrictions have moved to the national organization. The endowment funds will be transfered as well.”

“The organization is exempt from income taxes pursuant to section 501(c)(3)of the internal revenue service code. Therefore, no provision is made for taxes on income. On july 1,2010, the organization adopted the provisions of fasb asc 740 (formerly fin 48) accounting for uncertainty in income taxes. Fasb asc 740 requires that a tax position be recognized or derecognized based on a "more likely than not" threshold. This applies to positions taken or expected to be taken in a tax return. The implementation of fasb asc 740 had no impact on the organization's statement of financial position or statement of activities. The organization does not believe its financial statements include (or reflect) any uncertain tax positions. The organization's forms 990,return of organization exempt from income tax, for the years ending in 2018, 2019 and 2020 could be subject to examination by the irs, generally for three years after they are filed.”