2020-04-05T18:59:27-05:00 2019-08-31 861065772 DELOITTE TAX LLP TWO JERICHO PLAZA JERICHO NY 117531683 990 2018-09-01 363422138 MAKE-A-WISH FOUNDATION OF ILLINOIS INC MAKE 3126029474 640 NORTH LASALLE DRIVE NO 280 CHICAGO IL 606543754 STEPHANIE SPRINGS CHIEF EXECUTIVE OFFICER 3126029474 2020-04-03 1 CHRISTINE KAWECKI P00743140 5169187000 2020-04-03 67.82.132.31 2020-04-05 14:19:00 ED P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 A33271A5AED9642345A6F389B10911DFFED8AE1B 2018 2021-01-29 14:40:06Z STEPHANIE SPRINGS 640 NORTH LASALLE DRIVE NO 280 CHICAGO IL 606543754 14067545 0 X WWW.ILLINOIS.WISH.ORG X 1985 IL SEE SCHEDULE O. 30 30 63 1619 0 0 12513045 11909230 7800 5400 445273 278678 80895 86116 13047013 12279424 6988016 7265960 0 0 3697356 4359685 0 0 1948131 1618227 1614631 12303599 13240276 743414 -960852 13309745 12588652 1054617 1389973 12255128 11198679 X TOGETHER WITH OUR COMMUNITY THE MAKE-A-WISH FOUNDATION OF ILLINOIS CREATES LIFE-CHANGING WISHES FOR CHILDREN WITH CRITICAL ILLNESSES. 0 0 9883972 7265960 56970 SEE SCHEDULE O. 9883972 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 1 1 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 X 33 1 1 63 1 0 0 0 0 0 1 1 1 1 0 0 0 0 0 X 30 30 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 IL X X DARYL THOMANN 3126029474 640 NORTH LASALLE DRIVE STE 280 CHICAGO IL 606543754 BRIAN PAUL DIRECTOR-CHAIR 2.00 X X 0 0 0 CHRISTOPHER GRIFFIN DIRECTOR-VICE CHAIR 2.00 X X 0 0 0 DINU PAREL DIRECTOR-VICE CHAIR 2.00 X X 0 0 0 CHRIS CRAWFORD DIR-CORP DOCS OFFICER 2.00 X X 0 0 0 CARLIN ADRIANOPOLI DIRECTOR-TREASURER 2.00 X X 0 0 0 CARLOS ALONSO DIRECTOR 2.00 X 0 0 0 CARI BUCCI DIRECTOR 2.00 X 0 0 0 CHARLES BROOKS DIRECTOR 2.00 X 0 0 0 JASON BROWN DIRECTOR THROUGH 12/31/18 2.00 X 0 0 0 PAULO BOLGAR DIRECTOR 2.00 X 0 0 0 MARK CHONG DIRECTOR 2.00 X 0 0 0 MARIANNE DOAN DIRECTOR 2.00 X 0 0 0 SCOTT DUNCAN DIRECTOR 2.00 X 0 0 0 THOMAS ELLMAN DIRECTOR 2.00 X 0 0 0 KATHERINE GRAHAM SHANNON DIRECTOR 2.00 X 0 0 0 STEVE GADOMSKI DIRECTOR 2.00 X 0 0 0 DAN HANRAHAN DIRECTOR 2.00 X 0 0 0 PAMELA HENSON DIRECTOR 2.00 X 0 0 0 DARYL LUKE DIRECTOR 2.00 X 0 0 0 JASON MASLAN DIRECTOR 2.00 X 0 0 0 MARK MISHLER DIRECTOR 2.00 X 0 0 0 BARBARA PERINO DIRECTOR 2.00 X 0 0 0 DIPAK PATEL DIRECTOR 2.00 X 0 0 0 KRISTINA PASCHALL DIRECTOR 2.00 X 0 0 0 VALLI PERERA DIRECTOR 2.00 X 0 0 0 NANETTE REYNOLDS DIRECTOR 2.00 X 0 0 0 TODD RICHARDS DIRECTOR 2.00 X 0 0 0 COLLEEN VAN HAM DIRECTOR 2.00 X 0 0 0 AMANDA WORTHINGTON DIRECTOR 2.00 X 0 0 0 SHERI WARSH DIRECTOR 2.00 X 0 0 0 JONATHAN ZEILER DIRECTOR 2.00 X 0 0 0 STEPHANIE SPRINGS CHIEF EXECUTIVE OFFICER 45.00 X 280292 0 18173 DARYL THOMANN CHIEF OPERATING OFFICER 45.00 X 172721 0 27572 HEATHER SIMPSON CHIEF DEVELOPMENT OFFICER 45.00 X 184038 0 702 BRIDGET O'CONNELL VP MISSION DELIVERY 45.00 X 119743 0 6348 RYAN BLACKBURN VP MARKETING 45.00 X 120857 0 16210 877651 0 69005 5 0 1 0 WINDY CITY LIMOUSINE 2801 S 25TH AVE BROADVIEW IL 60155 LIMOS FOR WISH FAMILIES 235303 CHICAGO SIGNATURE SERVICES 600 E GRAND AVE CHICAGO IL 60611 CATERING FOR WISH BALL 172779 CREATIVE ARTISTS AGENCY LLC 2000 AVENUE OF STARS LOS ANGELES CA 90067 ENTERTAINMENT FOR WISH BALL 150000 3 24463 2636637 9248130 3112874 11909230 WISH ASSIST FEES 900099 5400 5400 5400 293901 293901 462000 473377 3846 -11377 -3846 -15223 -15223 1302538 2636637 1302538 0 42906 8360 34546 34546 REBATES 900099 51570 51570 51570 12279424 56970 0 313224 7265960 7265960 699110 82212 375801 241097 3133537 1351760 739380 1042397 19830 13593 268 5969 282716 125781 54298 102637 224492 107080 41690 75722 3800 1871 839 1090 48168 23718 10630 13820 108245 56160 8690 43395 23827 14919 8908 179023 87656 14781 76586 30844 15188 6807 8849 322291 165431 68201 88659 50123 24804 1516 23803 129914 81605 3522 44787 8984 4424 1983 2577 66165 32580 14602 18983 NATIONAL DUES 513566 405717 51357 56492 BANK/MERCHANT CARD FEES 86403 991 85412 PROMOTIONAL GIFT ITEMS 17608 17608 TAXES 12817 12817 12853 5905 6948 13240276 9883972 1408173 1948131 X 7048 3524 0 3524 X 1260749 672756 2235289 1686132 12395 9583 93789 0 152352 518166 447437 328760 66754 118677 8973599 9205757 514818 377581 13309745 12588652 983262 1021101 53860 23313 17495 345559 1054617 1389973 X 6233559 5397050 2249131 2026522 3772438 3775107 12255128 11198679 13309745 12588652 -960852 -95597 0 X 0 1 X 1 0 X 11301326 11699152 12217527 12513045 11909230 59640280 11301326 11699152 12217527 12513045 11909230 59640280 254657 59385623 243096 256777 240415 251467 271147 1262902 1135396 1310900 1287673 1379746 1397014 6510729 67413911 43925 0.88090 0.88370 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: GROSS FUNDRAISING EVENT REVENUE - 2014 AMOUNT: $ 1,074,354. 2015 AMOUNT: $ 1,214,706. 2016 AMOUNT: $ 1,202,806. 2017 AMOUNT: $ 1,287,641. 2018 AMOUNT: $ 1,302,538. GROSS GAMING REVENUE - 2014 AMOUNT: $ 41,794. 2015 AMOUNT: $ 39,706. 2016 AMOUNT: $ 36,139. 2017 AMOUNT: $ 43,491. 2018 AMOUNT: $ 42,906. OTHER INCOME - 2014 AMOUNT: $ 19,248. 2015 AMOUNT: $ 56,488. 2016 AMOUNT: $ 48,728. 2017 AMOUNT: $ 48,614. 2018 AMOUNT: $ 51,570. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 3619024 548000 145025 182000 14550 4115499 3570720 48000 180634 162000 18330 3619024 3377011 48000 320214 157000 17505 3570720 3250882 68000 225412 151000 16283 3377011 3564256 140000 -296124 135000 22250 3250882 0.91000 0.09000 0 0 8539 5337 3202 242614 156104 86510 196284 167319 28965 118677 DEFERRED RENT 199546 CAPTIAL LEASE OBLIGATIONS 23313 DUE TO NATIONAL 102713 DUE TO OTHER CHAPTERS 19987 345559 X 13458260 -95597 1318755 3846 1227004 12231256 48168 48168 12279424 14510863 1318755 1318755 13192108 48168 48168 13240276 PART V, LINE 4: PERMANENTLY RESTRICTED ENDOWMENT FUND INCOME IS EXPENDABLE TO SUPPORT WISH GRANTING AND REFERRAL OUTREACH. THE TEMPORARILY RESTRICTED PORTION IS THE EXPENDABLE INCOME. PART X, LINE 2: MANAGEMENT BELIEVES THAT NO UNCERTAIN TAX POSITIONS EXIST FOR THE FOUNDATION AT AUGUST 31, 2019. THE FOUNDATION FILES INCOME TAX RETURNS IN THE U.S. FEDERAL JURISDICTION, AND THE STATE OF ILLINOIS. PART XI, LINE 2D - OTHER ADJUSTMENTS: LOSS ON DISPOSAL OF ASSETS 3,846. WISH BALL 2989119 2023422 965697 74399 183433 169786 538079 GOLF OUTING 232916 54080 178836 74649 104187 6 717140 559135 158005 31498 26475 2285 97747 3939175 2636637 1302538 180546 209908 172071 740013 1302538 0 42906 6360 2000 1 0.50000 42906 6360 2000 8360 34546 IL 1 0 0 0 1.00000 ANDREA SUDERSKI 640 N LASALLE DR STE 280 CHICAGO IL 60654 0 ANDREA SUDERSKI 1000 PROVIDES OVERSIGHT FOR RECORDKEEPING, COMPLIANCE, AND ASSISTANCE TO EMPLOYEES AND VOLUNTEERS X 0 PART III, LINE 16 GAMING MANAGER INFORMATION GAMING IS CO-MANAGED BY TWO EMPLOYEES, ANDREA SUDERSKI, ACCOUNTING DIRECTOR, AND DEBBIE PURCELL, SIGNATURE EVENTS DIRECTOR. THEY PROVIDE OVERSIGHT FOR RECORDKEEPING, DEPOSITS, COMPLIANCE WITH FEDERAL, STATE, AND LOCAL REGULATIONS, AND ALL EMPLOYEES AND VOLUNTEERS ASSISTING WITH GAMING. COMPENSATION ALLOCABLE TO GAMING IS APPROXIMATELY $2,000 TOTAL, OR $1,000 EACH. 1 0 0 WISHES GRANTED 721 1080882 6185078 FMV TRAVEL, M&E, SUPPLIES PART I, LINE 2: THE ORGANIZATION DOES NOT PROVIDE CASH GRANTS TO INDIVIDUALS, BUT RATHER GRANTS WISHES TO SELECTED BENEFICIARIES THAT MEET THE SPECIFIC CRITERIA FOR THE WISH GRANTING PROGRAM. THE ORGANIZATION GENERALLY ALLOCATES FUNDS DIRECTLY TO THE VENDORS FOR THE WISH EXPENSES. HOWEVER, CASH ASSISTANCE IN THE FORM OF PREPAID CARDS IS PROVIDED TO WISH CHILDREN AND THEIR FAMILIES TO COVER CERTAIN EXPENSES FOR SOME WISH TYPES, PRIMARILY TRAVEL STIPENDS FOR TRAVEL WISHES (E.G. MEALS, TIPS, GAS ,ETC.). THE PURPOSE AND AMOUNT OF ASSISTANCE IS COMMUNICATED TO THE WISH FAMILY PRIOR TO THE ISSUANCE OF THE PREPAID CARD SO THAT THE FAMILY IS AWARE OF THE INTENDED USE FOR THE FUNDS. X X X X 0 0 0 0 0 0 0 1 0 STEPHANIE SPRINGS CHIEF EXECUTIVE OFFICER 255638 0 23392 0 1262 0 3925 0 14248 0 298465 0 0 0 DARYL THOMANN CHIEF OPERATING OFFICER 165531 0 7010 0 180 0 2191 0 25381 0 200293 0 0 0 HEATHER SIMPSON CHIEF DEVELOPMENT OFFICER 178463 0 5297 0 278 0 0 0 702 0 184740 0 0 0 PART I, LINE 7 INCENTIVE PAYOUTS FOR EXECUTIVES ARE DISCRETIONARY AND ARE AWARDED UPON APPROVAL BY THE EXECUTIVE COMMITTEE OF THE BOARD FOR BOTH THE CEO AND LEADERSHIP TEAM BASED ON ORGANIZATIONAL AND INDIVIDUAL PERFORMANCE, INCLUDING ACHIEVEMENT OF KEY FINANCIAL AND OPERATIONAL METRICS. X 13 140336 COST/SELLING PRICE X MEALS/ACTIVITIES 313 1910228 COST/SELLING PRICE X EVENT AUCTION 685 468125 COST/SELLING PRICE X AIRFARE 107 304393 COST/SELLING PRICE X ITEMS/ACTIVITIES 689 289792 COST/SELLING PRICE 1 0 1 1 PART I, COLUMN (B): THE NUMBER IN COLUMN B FOR "AIRFARE AND "MEALS/ACTIVITIES" IS THE NUMBER OF WISHES FOR WHICH CONTRIBUTIONS WERE APPLIED. THERE WERE MANY DONORS WHO MADE CONTRIBUTIONS OF VARIOUS AMOUNTS. THEIR CONTRIBUTIONS ARE POOLED AND USED TO SUPPORT TRAVEL RELATED WISHES. THE NUMBER IN COLUMN B FOR OTHER CATEGORIES IS THE NUMBER OF CONTRIBUTIONS AS LISTED BY DATE OF CONTRIBUTION. PART I, LINE 32B: THE FOUNDATION USES A BROKERAGE FIRM TO SELL DONATED SECURITIES. FORM 990, PART I, LINE 1: TOGETHER WITH OUR COMMUNITY THE MAKE-A-WISH FOUNDATION OF ILLINOIS CREATES LIFE-CHANGING WISHES FOR CHILDREN WITH CRITICAL ILLNESSES. FORM 990, PART III, LINE 4A: PROGRAM SERVICE ACCOMPLISHMENTS IN THE PAST YEAR, THE ORGANIZATION FULFILLED THE WISHES OF 721 CHILDREN IN ILLINOIS. SINCE INCEPTION, THE ORGANIZATION HAS GRANTED NEARLY 16,000 WISHES. A STRONG MEDICAL OUTREACH AND COMMUNITY PRESENCE PROGRAM, AS WELL AS STAFF THAT WORK DIRECTLY IN THE COMMUNITY HELPS THE FOUNDATION MAINTAIN STRONG TIES WITH INDIVIDUALS, COMMUNITY GROUPS, HOSPITALS, AND CORPORATIONS THROUGHOUT OUR TERRITORY. TOTAL EXPENSE OF $14,510,863 WAS INCURRED THIS YEAR TO FULFILL OUR MISSION PER THE ORGANIZATIONS AUDITED FINANCIAL STATEMENTS. OF THIS AMOUNT, $1,318,755 (9%) FOR DONATED SERVICES AND USE OF FACILITIES IS NOT REPORTABLE IN FORM 990 AND IS EXCLUDED FROM REVENUE AND EXPENSE (SEE SCHEDULE D PARTS XI AND XII). THE AMOUNT NOT REPORTED IS CRITICAL TO WISH GRANTING AND INCLUDES DONATED LODGING AND OTHER TRAVEL SERVICES FOR WISHES. FORM 990, PART I, SUMMARY, LINE 5 AND FORM 990, PART V, LINE 2A: EMPLOYEES THE NUMBER OF EMPLOYEES REPORTED ON THE 2018 FORM W-3, TRANSMITTAL OF WAGE AND TAX STATEMENTS WAS 63. THIS REPRESENTS ANY INDIVIDUAL COMPENSATED THROUGH PAYROLL AT SOME POINT DURING THE FISCAL YEAR. THERE WERE 52 EMPLOYEES AS OF AUGUST 31, 2019, OUR FISCAL YEAR END. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 REVIEW PROCESS THE BOARD OF DIRECTORS HAS DELEGATED THE REVIEW OF THE FORM 990 TO THE FINANCE COMMITTEE. THE ORGANIZATION'S CHIEF OPERATING OFFICER AND ACCOUNTING DIRECTOR WORKED CLOSELY WITH THE OUTSIDE ACCOUNTING FIRM IT ENGAGED, DELOITTE TAX LLP, TO PREPARE THE RETURN. THE FINAL FORM 990 WAS REVIEWED BY THE CEO AND FINANCE COMMITTEE AND DISCUSSED WITH FINANCE STAFF AND DELOITTE. THE FINANCE COMMITTEE VOTED TO APPROVE THE FORM FOR FILING. SUBSEQUENT TO ITS REVIEW, THE FINANCE COMMITTEE REPORTED BACK TO THE BOARD REGARDING ITS OVERSIGHT OF THE FORM 990 AND A COMPLETE COPY OF THE FINAL FORM 990 WAS PROVIDED TO THE ENTIRE VOTING BOARD BEFORE THE RETURN WAS FILED. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST POLICY: MONITORING AND ENFORCEMENT THE FOUNDATION HAS A CODE OF ETHICS AND CONFLICT OF INTEREST POLICY, APPROVED BY THE BOARD OF DIRECTORS. THIS POLICY DEFINES WHAT IS CONSIDERED TO BE A CONFLICT OF INTEREST, THE PROCESS THAT BOARD OFFICERS, BOARD MEMBERS, EMPLOYEES, AND VOLUNTEERS SHOULD UNDERTAKE IF THEY BELIEVE THEY MAY HAVE A CONFLICT OF INTEREST, AND THE RESOLUTION PROCESS. THIS POLICY INCORPORATES STANDARDS DEVELOPED BY MAKE-A-WISH AMERICA TO HAVE AN ANNUAL CONFLICT OF INTEREST ASSURANCE STATEMENT SIGNED BY EACH OF THESE INDIVIDUALS. IT ADDITIONALLY REQUIRES BOARD OFFICERS, BOARD MEMBERS, AND EMPLOYEES TO SIGN AN ANNUAL CONFLICT OF INTEREST DISCLOSURE STATEMENT, TO MORE PROACTIVELY PROMPT FOR IDENTIFICATION OF POTENTIAL CONFLICTS. ASSURANCE AND DISCLOSURE STATEMENTS MUST BE SIGNED UPON DATE OF HIRE, ELECTION, OR COMMENCEMENT OF VOLUNTEER SERVICE, AND AT LEAST ANNUALLY THEREAFTER. THE SIGNED STATEMENTS ARE SUBMITTED TO AND REVIEWED BY THE TALENT TEAM STAFF. REVIEW OF THE STATEMENTS IS MONITORED BY THE CHIEF OPERATING OFFICER AND CHIEF EXECUTIVE OFFICER. THE PROCEDURES FOR ADDRESSING ANY CONFLICT OF INTEREST BEGIN WITH FORWARDING THE ISSUE FOR HANDLING TO THE DESIGNATED AUTHORITY (E.G. CEO FOR EMPLOYEE AND VOLUNTEER ISSUES, BOARD CHAIR OR COMMITTEE CHAIR FOR BOARD MEMBERS). THE DESIGNATED AUTHORITY WILL DETERMINE THE NATURE OF THE CONFLICT VIA THE WRITTEN DISCLOSURE STATEMENT AS WELL AS ANY ADDITIONAL VERBAL OR WRITTEN COMMUNICATIONS WITH THE INTERESTED PERSON. THE DESIGNATED AUTHORITY HAS RESPONSIBILITY TO DETERMINE APPROPRIATE RESOLUTION. AS NOTED IN THE POLICY, ALL INTERESTED PERSONS HAVE A RESPONSIBILITY TO ACT BY COMPLETING AND SUBMITTING THE DISCLOSURE STATEMENT, AS WELL AS REFRAIN FROM TAKING ANY FURTHER ACTION ON BEHALF OF THE FOUNDATION PENDING CONCLUSION OF THE MATTER. FORM 990, PART VI, SECTION B, LINE 15A TOP MANAGEMENT OFFICIALS' COMPENSATION THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS IS ACCOUNTABLE FOR APPROVING THE CEO'S COMPENSATION PACKAGE. IT ALSO APPROVES THE INCENTIVE TERMS FOR THE LEADERSHIP TEAM, WHICH CONSISTS OF THE CHIEF OPERATING OFFICER, CHIEF DEVELOPMENT OFFICER, VP OF MISSION DELIVERY, AND VP OF MARKETING. THE EXECUTIVE COMMITTEE IS COMPRISED SOLELY OF INDEPENDENT DIRECTORS, NONE OF WHOM HAVE A CONFLICT OF INTEREST WITH RESPECT TO THE CEOS COMPENSATION PACKAGE AND LEADERSHIP TEAM INCENTIVE TERMS. CONSISTENT WITH THE ORGANIZATION'S PHILOSOPHY AND PRINCIPLES, THE EXECUTIVE COMMITTEE APPROVES THE ANNUAL PERFORMANCE GOALS AND CRITERIA TO BE USED IN DETERMINING MERIT INCREASES AND VARIABLE COMPENSATION CRITERIA FOR THE CEO. THE COMPENSATION COMMITTEE IS APPOINTED BY THE EXECUTIVE COMMITTEE AND IS TASKED WITH MAKING RECOMMENDATIONS TO THE EXECUTIVE COMMITTEE ON THE TOTAL COMPENSATION PACKAGE FOR THE CEO AND INCENTIVE PAYOUTS FOR THE LEADERSHIP TEAM. THE COMPENSATION COMMITTEE CONSISTS OF AT LEAST 3 BOARD MEMBERS AND A QUALIFIED INDEPENDENT COMPENSATION AND BENEFITS PROFESSIONAL (INDEPENDENT PROFESSIONAL), CURRENTLY KORN FERRY. AS SUPPORT FOR THE CEOS COMPENSATION PACKAGE, COMPARABILITY DATA IS OBTAINED PROM KORN FERRY (I.E. TOTAL COMPENSATION PAID BY SIMILARLY SITUATED ORGANIZATIONS, BOTH TAXABLE AND TAX-EXEMPT, FOR SIMILAR JOB RESPONSIBILITIES). THIS DATA IS UPDATED ANNUALLY. THE EXECUTIVE COMMITTEE'S WRITTEN RECORDS RELATED TO COMPENSATION INCLUDE: 1) THE TERMS OF THE COMPENSATION ARRANGEMENTS; 2) A DESCRIPTION OF THE COMPARABLE DATA RELIED UPON BY THE EXECUTIVE COMMITTEE; AND 3) DOCUMENTATION OF THE COMPENSATION DECISIONS MADE BY THE EXECUTIVE COMMITTEE. FORM 990, PART VI, SECTION C, LINE 19 ALTHOUGH FEDERAL TAX LAWS DO NOT MANDATE THAT THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS BE MADE AVAILABLE FOR PUBLIC INSPECTION, THE FOUNDATION POSTS ITS ANNUAL REPORT AND FORM 990 ON ITS WEB SITE AND ALSO MAKES ITS FINANCIAL STATEMENTS AVAILABLE TO MEMBERS OF THE PUBLIC UPON REQUEST. FORM 990, PART X, LINE 27: THROUGH THE FISCAL YEAR ENDED AUGUST 31, 2018, THE FOUNDATION ACCRUED FOR ESTIMATED COSTS OF REPORTABLE PENDING WISHES WHEN FIVE CERTAIN, MEASURABLE WISH CRITERIA WERE MET. THIS ACCRUAL DID NOT REPRESENT A LEGALLY BINDING LIABILITY BUT WAS CONSIDERED A MORAL OBLIGATION TO THE CHILD BY THE FOUNDATION ARISING WHEN THE FIVE CRITERIA WERE MET. GIVEN THE CHANGES TO THE WISH GRANTING ENVIRONMENT THAT HAVE OCCURRED IN RECENT YEARS, THE FOUNDATION DETERMINED THAT THE CALCULATION WAS NO LONGER REPRESENTATIVE OF THE FUTURE OBLIGATIONS. THE FOUNDATION REMAINS COMMITTED TO ITS MISSION. AS A RESULT OF THIS CHANGE IN ACCOUNTING PRINCIPLE, NET ASSETS WITHOUT RESTRICTIONS AS OF SEPTEMBER 1, 2018 HAVE INCREASED BY $5,014,613.