Oak Cliff Empowered Inc.

“See Schedule L, Part IV, Line 2.”

“Bylaws specify that members of the executive committee of the Oak Cliff Chamber of Commerce and the President of the Chamber shall be given the option to be directors of the organization.”

“The Board and officers shall review the return and authorize the tax accountant to file.”

“At each board meeting, board members and officers are required to disclose any conflicts of interest on the meeting's agenda and disclosure is documented in minutes.”

“The entity does not have employees and officers are not compensated. The Oak Cliff Chamber of Commerce provides personnel and is reimbursed for direct services personnel.”

“Bylaws specify that the Treasurer report the financial condition of the organization to the Board.”

“PT III, Line 1 - The original name of the organization was Golden Oaks Foundation, Inc. In 2009, the name was changed to The Oak Cliff Chamber Charitable Foundation, Inc. In April 2017, the name was changed to Oak Cliff Empowered, Inc.”

“Financial statements and tax returns are made available upon request to appropriate officers.”

“The organization receives various assistance for teaching personnel, use of facilities and training equipment and other support in the form of in-kind donations from its partners. For the year ended December 31, 2020, approximately $112,000 was received.”

“Per the 2020 audited financial statements - "The COVID-19 pandemic, whose effects first became known in January 2020, is having a broad and negative impact on commerce and financial markets around the world. The United States and global markets experienced significant declines in value resulting from uncertainty caused by the pandemic. The Organization is closely monitoring its liquidity and is actively working to minimize the impact of these declines. The extent of the impact of COVID-19 on the Organizations operational and financial performance will depend on certain developments, including the duration and spread of the outbreak and its impacts on the Organizations donors, employees, and vendors, all of which at present, cannot be determined. Accordingly, the extent to which COVID-19 may impact the Organizations financial position and changes in cash flows is uncertain and the accompanying financial statements include no adjustments relating to the effects of this pandemic. "”

“For the year ended December 31, 2020, the financial statements were prepared on the accrual basis of accounting, which is a change from the prior modified cash basis of accounting. The net change to Net Assets for December 2019 was $4,299. Additionally, $2280 additional depreciation was recognized per the accrual basis financial statement vs the total reflected on this current tax return.”

“Instruction 48396. 48396. 0. 0.”

“Grant writing 15000. 3000. 0. 12000.”

“Other program assistance 4125. 4125. 0. 0.”