Catawba Science Center Inc

“The catawba science center has adopted an investment policy for endowment assets that attempts 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, approved by the board, the endowment assets shall be invested in a manner to produce a total return comprised of interest, dividends, and realized and unrealized capital gains and losses. The center expects its endowment funds, over time, to provide an average rate of return of approximately 5% annually. Actual returns in any given year may vary from this amount. The center has a spending guideline of appropriating for distribution each year 5% of the average endowment's fair value over the three years preceding the fiscal years in which the distribution is planned as of valuation on december 31. However, there have been years and there may be future years in which the spending guideline does not provide adequate funds to meet expected needs, and with board approval, the spending guideline percentages may be exceeded. In establishing this guideline, the center considered the long-term expected return on its endowments. This is consistent with the center's objective to maintain the purchasing power of the endowment assets held in perpetuity for a specific term as well as to provide additional real growth through new gifts and investment return.”

“The catawba science center, inc. Is a non-profit corporation organized with chapter 55-a of the north carolina statutes and is exempt from income taxes under section 501 (c) (3) of the internal code and state law. However, income from certain activities not directly related to the center's tax-exempt purpose is subject to taxation as unrelated business income. In addition, the center qualifies for the charitable contribution deduction under section 170(b)(1)(a) and has been classified as a corporation other than a private foundation under section 509(a)(2). Under north carolina statute, the center applies for refunds of all sales taxes paid. The center has implemented the new accounting requirements associated with uncertainty in income taxes using the provisions of the fasb asc 740, income taxes. Using that guidance, tax positions initially need to be recognized in the financial statements when it is more-likely-than-not that the positions will be sustained upon examination by the tax authorities. It also provides guidance for derecognition, classification, interest and penalties, accounting in interim periods, disclosure, and transition. As of june 30, 2025 and 2024, the center had no uncertain tax positions that qualify for either recognition or disclosure in the financial statements and recognized no such interest or penalties during the years ended june 30, 2025 and 2024.”

“Fundraising italian dinner emporium cogs”

“Fundraising italian dinner emporium cogs”