Cullman Regional Medical Center Foundation Inc

“Funds are released from restriction and distributed to cullman regional medical center, a related organization, as required to comply with the purpose specified by donors. Currently, intended use includes the cardiology, pediatric, cancer assistance, maternity expansion, emergency room capital campaign, refresh-a-room campaign, physical rehabilitation, and cullman emergency medical service funds.”

“The following footnote is from a draft of the audited financial statements. At the time the return was filed, the statements had not been released. The foundation has received a determination letter from the internal revenue service recognizing the foundation as a tax-exempt organization under section 501(c)(3) of the internal revenue code. The foundation 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 foundation 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 disallowance of the position. Should any such penalties and interest be incurred, they would be recognized as operating expenses. Based on the results of management's evaluation, no liability is recognized in the accompanying statements of financial position for unrecognized income tax positions. Further, no interest or penalties have been accrued or charged to expense as of june 30, 2024 and 2023 or for the years then ended. The foundation's 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.”

“Fundraising event expenses 52,989”

“Fundraising event expenses 52,989”