Dash for Lagrange Inc

PART IV, LINE 2B:

“The organization has an agreement with neighborhood housing services of america (nhsa) to collect the monthly mortgage payments from loans they have sold to nhsa. The monthly payments include principal, interest and mortgage insurance escrow. The organization submits monthly reimbursements to nhsa, therefore, included in the balance at june 30, 2016 are the receipts received by the organization due to nhsa. Additionally the rental program provided by the organization, receives security deposits from tenants at the beginning of rental contract. This money is refundable, to the tenant, at the end of rental contract. Therefore included in the balance at june 30, 2014 are the renter deposit escrow amounts. Part v, line 4: (a) capital funds held in perpetuity, used for purposes of acquiring land, rehabilitating homes and/or building affordable housing for the low to middle income families in the lagrange, troup county, georgia area. Part x: dash has adopted the provisions of the fasb accounting standards codifications (asc) income tax topic 740-10, accounting for uncertainty in income taxes. The guidance prescribes a comprehensive model for how a company should measure, recognize, present, and disclose in its financial statements uncertain tax positions that the company has taken or expects to take on a tax return. The organization adopted asc 740-10 as of july 1, 2009 and, therefore, recognizes the tax benefits from uncertain tax positions only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities. There was no impact to the organization's financial statements as a result of the implementation of asc 740-10. Dash is a not-for-profit organization that is exempt from income taxes under section 501(c)(3) of the internal revenue code and classified by the internal revenue service as other than a private foundation. Dash development corporation, the wholly-owned subsidiary, is taxed as a c corporation, but did not generate any taxable income during the years ending december 31, 2010 and 2009, respectively. Accordingly, no provision or benefit for income taxes has been recorded in the accompanying consolidated financial statements.”