Phoebe Foundation Inc.

“The organization's collections consist of 2 menaboni oil paintings, 1 steinway piano, and 3 additional oil paintings. The menaboni paintings are on display at the albany museum of art while the remaining pieces are located at the foundation's office.”

“Endowment funds provide a renewing source of income that allows the organization to maintain the quality of its programs. Temporarily restricted net assets and the earnings from permanently restricted net assets are available for the purposes of healthcare operations and capital needs for the supported organizations.”

“Phoebe putney health system, inc., phoebe putney memorial hospital, inc., phoebe worth medical center, inc., phoebe sumter medical center, inc., phoebe physician group, inc., and phoebe foundation, inc. Are not-for- profit corporations that have been recognized as tax-exempt pursuant to section 501(c)(3) of the internal revenue code. Phoebe putney indemnity, llc is not subject to federal income taxes due to its organization as a single member llc. Phoebe putney indemnity, ltd. Is exempted from all local income, profit, or capital gains taxes until november 19, 2038 under the cayman islands tax concessions law. Phoebe putney health ventures, inc. Is a for-profit entity. The corporation applies accounting policies that prescribe when to recognize and how to measure the financial statement effects of income tax positions taken or expected to be taken on its income tax returns. These rules require management to evaluate the likelihood that, upon examination by the relevant taxing jurisdictions, those income tax positions would be sustained. Based on that evaluation, the corporation only recognizes the maximum benefit of each income tax position that is more than 50% likely of being sustained. To the extent that all or a portion of the benefits of an income tax position are not recognized, a liability would be recognized for the unrecognized benefits, along with any interest and penalties that would result from the disallowance of the position. Should any such penalties and interest be incurred, they would be recognized as operating expenses. Based on the results of managements evaluation, no liability is recognized in the accompanying consolidated balance sheets for unrecognized income tax positions. Further, no interest or penalties have been accrued or charged to expense as of july 31, 2020 and 2019 or for the years then ended. The corporations tax returns are subject to possible examination by the taxing authorities. For federal income tax purposes, the tax returns essentially remain open for possible examination for a period of three years after the respective filing deadlines of those returns.”