Correct, the application is pending. However, the application was made years later than originally promised. Over the past six-and-a-half years, the endowment has accumulated over $100 million, with not a single audited financial statement ever published.

Is that necessary (or even legally possible) as long as Tides itself passes its financial audits and files appropriate documentation?

(Note, I don't have any stakes in that debate, besides occasionally uploading drone photography to Commons)