Carpenters Local Union 218

“The Local qualifies as a tax-exempt organization under Section 501 (c) 5 of the Internal Revenue code and is exempt from Federal income taxes, except on any net income derived from unrelated business activities. For the years ended June 30, 2017 and 2016, the Local has determined that no income taxes are due for any of its activities. Accordingly, no provision for federal or state income taxes is required.The Local is required to file information tax returns with the Internal Revenue Service. It does not believe it has done anything during the past two years that would jeopardize its tax exempt status. The Local is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress. The Local believes it is no longer subject to income tax examinations for years prior to 2014.When the Local files its tax returns, it is probable that, upon examination by tax authorities, some positions taken in the returns would be sustained while others are subject to uncertainty about the merits of the position taken or the amount that would be ultimately sustained. Under accounting principles generally accepted in the United States of America, income tax benefits from such positions or amounts are recognized only when it is determined that the position or amount will more-likely-than-not be sustained upon examination by taxing authorities. The Local has analyzed the tax positions taken in its tax filings and believes that its income tax filing positions more-likely-than-not would be sustained upon examination and does not anticipate any adjustments that would result in a material adverse affect on the Locals financial condition or results of operations from any such examination. Accordingly, the Local has not recorded any reserves, or related accruals for interest and penalties for uncertain income tax positions at June 30, 2017 or 2016.”

“Contributions made from pac fund $2925”