The Cedars of Marin

“In a previous year, a permanently restricted endowment fund was established. All of the endowment funds, classified as permanently restricted net assets, represent donor contributions that are subject to restrictions of gift instruments requiring that the principal be invested in perpetuity. By law and in accordance with accounting rules, The Cedars of Marin is permitted to transfer all interest and realized/unrealized gains to unrestricted net assets through an appropriation process under the Uniform Prudent Management of Institutional Funds Act (UPMIFA) guidelines.Endowment: The Corporation follows the reporting guidelines promulgated by ASC 958.205.50 and in accordance with the Uniform Prudent Management of Institutional Funds Act which requires the preservation of the fair value of the original gift as of the date of the donor-restricted endowment funds, unless there are explicit donor stipulations to the contrary. As a result of this guidance, the Corporation maintains in perpetuity the original value of initial and subsequent gift amounts. Accumulations of net investment income (losses) related to the endowment assets are classified within net assets with donor restrictions time and purpose and are subject to appropriation for expenditure in a manner consistent with the standard of prudence prescribed by UPMIFA.”

“Income Taxes:Financial statement presentation follows the recommendations of ASC 740, Income Taxes. Under ASC 740, the Corporation is required to report information regarding its exposure to various tax positions taken by the Corporation and requires a two-step process that separates recognition from measurement. The first step is determining whether a tax position has met the recognition threshold; the second step is measuring a tax position that meets the recognition threshold. Management believes that the Corporation has adequately evaluated its current tax positions and has concluded that as of September 30, 2024, the Corporation does not have any uncertain tax positions for which a reserve or an accrual for a tax liability would be necessary.The Corporation has received notification from the Internal Revenue Service and the State of California that it qualifies for tax-exempt status under Section 501(c)(3) of the Internal Revenue Code and Section 23701d of the California Revenue and Taxation Code. The exemptions are subject to periodic review by the federal and state taxing authorities and management is confident that the Corporation continues to satisfy all federal and state statutes in order to qualify for continued tax exemption status. The Corporation may periodically receive unrelated business income requiring the Corporation to file separate tax returns under federal and state statutes. Under such conditions, the Corporation calculates and accrues the applicable taxes.”

“Cost of goods sold $49337 MHH5 Revenue $286818 Lamont Revenue $57063 Dante Revenue $61860 Interest income from subs $0 Eliminating Entry $-143530”

“Cost of sales reflected on Form 990 10B $49337 Expenses on MHH5 990 $286367 Expenses on Lamont House 990 $78696 Expenses on Dante House 990 $81908 Eliminating entries $-192596”