Atherton Baptist Homes

“Residents can deposit personal-use funds into trust accounts maintained by atherton. These funds are maintained strictly for use by the residents for their personal expenses, including monthly charges for personal and nursing care at agreed-upon rates. If a resident leaves atherton, the balance remaining in the fund is returned. Assets held in trust for residents, included in prepaid expenses and other current assets, amounted to approximately $128,599 and $139,085 as of december 31, 2024 and 2023, respectively. As these funds do not represent assets of atherton, a corresponding trust account liability is reported in escrow or custodial account liability.”

“Atherton is organized as a non-profit corporation under the general non-profit corporation laws of the state of california, and is exempt from federal income taxation under internal revenue code section 501(c)(3). Non-profit organizations are generally not liable for taxes on income; therefore, no provision is made for such taxes in the financial statements. Atherton considers many factors when evaluating and estimating its tax positions and tax benefits, which may require periodic adjustments and which may not accurately anticipate actual outcomes. Atherton evaluates its uncertain tax positions using the provisions with u.s. Gaap. These standards require management to perform an evaluation of all tax positions taken, or expected to be taken in the course of preparing the atherton's tax returns. Management believes the tax positions taken more likely than not will be sustained under examination by the applicable tax authorities. Examples of tax positions include tax-exempt status of atherton, and various positions related to the potential sources of unrelated business taxable income. Since tax matters are subject to some degree of uncertainty, there can be no assurance that atherton's tax returns will not be challenged by the taxing authorities, and that atherton will not be subject to tax, penalties, and interest as a result of such challenge. Generally, atherton's tax returns remain open for three years for federal income tax examination and four years for state income tax examination.”

“Change in minimum pension liability 469,655. Change in associated obligations -4,197. Annuity expense reclassified to other expense -184,969.”

“Reclass loss on sale of assets to revenue section -217,552.”

“Annuity expense reclassified to other expense -184,969.”

“Reclass loss on sale of assets to revenue section -217,552.”