Orlando Union Rescue Mission Foundation Inc

“The orlando rescue mission foundation, inc. (the foundation) was incorporated on may 20, 2005 as a nonprofit corporation for the purpose of receiving and investing significant bequests as directed by the mission's board of directors. It is the board of directors' intent that these funds will be used for the ongoing support of the mission including long-term capital projects such as permanent housing, transitional housing, a chapel, and other facilities. Accordingly, these funds have been classified as board designated net assets.”

“The mission is exempt from federal income tax under provisions of section 501(c)(3) of the internal revenue code. The mission is not aware of any activities that would jeopardize its tax-exempt status or that are subject to tax on unrelated business income, excise or other taxes. In addition, the mission has been determined by the internal revenue service not to be a private foundation within the meaning of section 509(a) of the code. Consequently, no provision for income taxes has been included in the accompanying financial statements. In accordance with "income taxes" fasb accounting standards codification topic 740 (topic 740), all entities are required to evaluate and disclose income tax risks. Topic 740 clarifies the accounting for uncertainty in tax positions and prescribes guidance related to the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. The tax benefit from an uncertain tax position is only recognized in the statement of financial position if the tax position is more likely than not to be sustained upon an examination, based on the technical merits of the position. Interest and penalties, if any, are included in expenses in the statement of activities. As of december 31, 2024, the mission had no uncertain tax positions that qualify for recognition or disclosure in the financial statements. The mission's income tax returns are subject to review and examination by federal authorities. Since the mission's income tax filings are subject to audit by federal taxing authorities, generally three years after they are filed, the mission is no longer subject to examinations by federal taxing authorities for the years ended before december 31, 2021. In addition, there are currently no pending income tax examinations by federal taxing authorities.”