Rainbow Valley Resource Network Inc

“Rainbow valley resource network, inc. Is an organization exempt from income tax under section 501(c)(3) of the internal revenue code of 1986. The organization has also been classified as an entity that is not a private foundation within the meaning of section 509(a) and qualifies for deductible contributions as provided in section 170(b)(1)(a)(vi). Under accounting standards codification (asc) section 740, the tax status of tax-exempt entities is an uncertain tax position since events could potentially occur that jeopardize tax-exempt status. Management is not aware of any events that could jeopardize the organization's tax-exempt status. The organization believes that it has appropriate support for any tax positions taken, and as such, does not have any uncertain tax positions that are material to the financial statements. The organization is subject to routine audits by taxing authorities until the expiration of the related statute of limitations.”

“Rainbow valley resource network, inc is an organization exempt from income tax under section 501 (c) of the internal revenue code of 1986. The organization has also been classified as an entity that is not a private foundation within the meaning of section 509(a) and qualifies for deductible contributions as provided in section 170(b)(1)(a)(vi) under accounting standards codification (asc) section 740, the tax status of tax-exempt entities is an uncertain tax position since events could potentially occur that jepordize tax-exempt status. Accounting principles generally accepted in the united states of america require management to evaluate tax positions taken by the organization and recognize a tax liability if the organization has taken an uncertain tax position that more than likely would not be sustained upon the examination by the irs. Management has analyzed the tax positions tpt status and therefore, no liability or provision for income tax has been reflected in the financial statements”