Uspiritus Inc (Bellewood & Brooklawn)

“Uspiritus' endowment funds consist of investments maintained by financial institutions and a beneficial interest in assets held by various community foundations for use in operations as designated by the board. The investments held by financial institutions are board designated funds and the beneficial interest in assets held by various community foundations are donor-restricted funds. Uspiritus' board of trustees does not have input or authority over the nature and type of investments held by the community foundations. The trustees of the community foundations have sole discretion on the investments and the amount and timing of distributions. As required by accounting principles generally accepted in the united states of america, net assets associated with endowment funds, including funds designated by the board of trustees to function as endowments, are classified and reported based on the existence or absence of donor-imposed restrictions. Approximately, $5.4 million of part v, line 1g total balance of $9,852,619 represents outside trust interests. Uspiritus has no control over these outside trusts and insofar as uspiritus is only one of several remaindermen, it receives variable income of about 3% per year.”

“The organization is exempt from federal, state, and local income taxes as a notforprofit organization as described under section 501(c)(3) of the internal revenue code. Uspiritus files informational tax returns as required by federal and state regulations. However, income from certain activities not directly related to the organization's taxexempt purpose may be subject to taxation as unrelated business income. Accounting principles generally accepted in the united states of america ("gaap") requires management to evaluate tax positions taken and recognize a tax liability if it is more than likely than not that an uncertain tax position would not be sustained upon examination by various federal and state taxing authorities. Management has analyzed the tax positions taken and has concluded that as of june 30, 2024 and 2023, respectively, there are no uncertain positions taken that would require recognition of liability or disclosure in the accompanying financial statements. The organization is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress.”

“Change in value of split interest 457,864. Fundraising event expenses 40,179.”

“Fundraising event expenses 40,179.”