Indiana AIDS Fund Inc

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“The foundation is a not-for-profit organization exempt from federal income taxes under section 501(c)(3) of the internal revenue code (irc). However, the foundation is required to file federal form 990-pf return of private foundation. Excise taxes are assessed on the foundation's net investment income, as defined by the irc, due to the foundation's tax status as a private foundation. Thf, llc is consolidated in the foundation's 990-pf return as a disregarded entity. Iafi was granted its tax exempt status from the irs in april 2019. As such, iafi is a not-for-profit organization exempt from federal income taxes under section 501(c)(3) of the irc. Iafi is generally exempt from federal and state income taxes. However, iafi is required to file federal form 990 return of organization exempt from income tax, which is an informational return only. Accounting principles generally accepted in the united states of america require management to evaluate tax positions taken by the foundation and recognize a tax liability if the foundation has taken an uncertain position that more likely than not would not be sustained upon examination by various federal and state taxing authorities. Management has analyzed the tax positions taken by the foundation, and has concluded that as of december 31, 2024 and 2023, there are no uncertain positions taken or expected to be taken that would require recognition of a liability or disclosure in the accompanying consolidated financial statements. The foundation is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress. The foundation and iafi filed their federal and state income tax returns for periods through december 31, 2023. These income tax returns are generally open to examination by the relevant taxing authorities for a period of three years from the later of the date the return was filed or its due date (including approved extensions).”