Idaho State University Foundation Inc.

“The organization received a conservation easement property during tax year 2013. The property is held as a land asset on the organization's balance sheet; the asset was reported in revenues as a contribution received.”

“Pullen-grey foundation and the bengal foundation transferred certain assets to the foundation for investment and management, these amounts are included in the amount of funds held in custody for others. Interest and fees on investments are allocated accordingly to the respective investments.”

“The foundation's endowment consists of approximately 500 individual funds established for a variety of purposes. As required by generally accepted accounting principles, net assets associated with endowment funds are classified and reported based upon the existence or absence of donor-imposed restrictions. The board of directors of the foundation has interpreted the idaho prudent management of institutional funds act (ipmifa) as requiring the preservation of the fair value of the original gift as of the gift date of the donor-restricted endowment funds absent explicit donor stipulations to the contrary. As a result of this interpretation, the foundation classifies as permanently restricted net assets (a) the original value of the gifts donated to the permanent endowment, and (b) the original value of subsequent gifts to the endowment. The remaining portion of the donor-restricted endowment fund that is not classified in permanently restricted net assets is classified as temporarily restricted net assets until those amounts are appropriated for expenditures by the foundation in a manner that is consistent with the standard of prudence prescribed by ipmifa. In accordance with ipmifa, the foundation considers the following factors in making a determination to appropriate or accumulate donor-restricted endowment funds: the duration and preservation of the fund or endowment the purposes of the foundation and the donor-restricted endowment fund general economic conditions the possible effect of inflation and deflation the expected total return from income and the appreciation of investments other resources of the foundation the investment policies of the foundation”

“Idaho state university foundation, inc. Is organized as an idaho nonprofit corporation and has been recognized by the internal revenue service (irs) as exempt from federal income taxes under section 501(a) of the internal revenue code as an organization described in section 501(c)(3), qualifying for the charitable contribution deduction under section 170(b)(1)(a)(vi), and has been determined not to be a private foundation under sections 509(a)(1). Bengal pharmacy llc is treated as a disregarded entity for income tax purposes, and accordingly, all income and expenses are reported through the foundation. The foundation is annually required to file a return of organization exempt from income tax (form 990) with the irs. In addition, the foundation is subject to income tax on net income that is derived from business activities that are unrelated to their exempt purposes. The foundation has determined it is not subject to unrelated business income tax and has not filed an exempt organization business income tax return (form 990-t) with the irs. The foundation will recognize future accrued interest and penalties related to unrecognized tax benefits in income tax expense if incurred. The foundation is no longer subject to federal and state tax examinations by tax authorities for years filed before 2010.”

“Intercompany endowment fund management fees 828,787. Net change in value of annuity 88,113.”

“Cogs associated with bengal pharmacy -160,313.”

“Intercompany endowment fund management fees 828,787. Cogs associated with bengal pharmacy 160,313.”