Alpha Omicron Pi Foundation

“The foundation has adopted investment and spending policies for assets held for endowment 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. Assets held for endowment include those assets of donor-restricted funds the foundation must hold in perpetuity. Under this policy, as approved by the board of directors, the endowed investments are invested in a manner that is intended to produce a total return which protects the purchasing power of the endowed investments and which allows spending under the terms of each endowment fund. The foundation evaluates its investments by comparing actual investment performance to various applicable benchmarks. The foundation expects its endowment investments to meet or exceed these benchmarks over time. Actual returns in any given year may vary from these benchmarks.”

“The foundation is organized as a not-for-profit corporation other than a private foundation, and is exempt from income tax under section 501(c)(3) of the united states internal revenue code and similar state law. Accounting principles generally accepted in the united states of america require management to evaluate tax positions taken by the foundation and recognize a tax liability if the foundation has taken an uncertain position that more likely than not would not be sustained upon examination by various federal and state taxing authorities. Management has analyzed the tax positions taken by the foundation, and has concluded that as of june 30, 2021, there are no uncertain positions taken or expected to be taken that would require recognition of a liability or disclosure in the accompanying financial statements. As such, the foundation is generally exempt from income taxes. However, the foundation is required to file federal form 990 return of organization exempt from income tax, and a similar state return, which are informational returns only. The foundation is subject to routine audits by taxing jurisdictions. However, as of the date the financial statements were available to be issued, there were no audits for any tax periods in progress.”