Louisiana School for Math Science

“The student enrichment fund enhances the lsmsa living/learning environment by expanding educational opportunities for all students. This fund rests on the board of trustees' pledge that no qualified student should be denied an opportunity at lsmsa because of financial need. Funding generally falls into four main categories of need: competitions, workshops and conferences; mental health and well-being; living/learning support; and college planning. The excelsior fund recognizes excellence in student and community leadership by providing an annual award to a senior student enrolled at lsmsa who demonstrates these qualities. The praecellemus fund brings visiting scholars, artists, and researchers from around the country to the lsmsa campus in natchitoches. Nationally renowned experts discuss their work with students and faculty, bringing new dimensions to the learning experience. The idea fund supports the lsmsa idea advisory council's goal to address and advise the implementation of policy change that will make lsmsa a more diverse and inclusive community.”

“The foundation is a not-for-profit organization as described in section 501(c)(3) of the internal revenue code and is exempt from federal and state income taxes on related income pursuant to section 501(a) of the internal revenue code. The foundation accounts for income taxes in accordance with the income tax accounting guidance included in the accounting standards codification (asc). The foundation recognizes the effect of income tax positions only if the positions are more likely than not of being sustained. Recognized income tax positions are recorded at the largest amount that is greater than fifty percent likely of being realized. Changes in the recognition or measurement are reflected in the period in which the change in judgment occurs. The foundation has evaluated its positions regarding the accounting for uncertain tax positions and does not believe it has any material uncertain tax positions as of june 30, 2023 and 2022.”

“Bad debt recovery included in income”

“Bad debts included in income”

“Items to reconcile tax return to audited financial statements include donated services, and book to tax differences.”