Dairies in Developing Communities Inc Nfp

“Sch. D, Part X,Other Liabilities: During 2012, the Organization contributed $50,000 of initial capital to help fund the day-to-day operations of the Cattle Hub Nicaragua project, of which they are a 50% owner. During 2013, the Organization made additional capital contributions of $49,620 and had a 61% ownership interest as of Decemember 31, 2013. During 2014, the Organization contributed an additional $25,000 and had a 50% ownership interest at Dec. 31, 2014. During 2015, no capital contributions were made and the Organization had a 50% ownership interest at Dec. 31, 2015. During 2016, the Organization contributed an additional $20,000 and had a 53% ownership interest at Dec. 31, 2016. At December 31, 2017, the Organization continued with a 53% ownership interest. The investment is accounted for on the equity method. The Organization recognized a gain of $4,419 for Dec. 31, 2017 and a loss of $20,338 Dec. 31, 2016. Under Nicaraguan coporate law, the Organization does not have a controlling interest and accordingly does not meet the criteria for consolidation. The carrying value of the underlying equity in the net assets of the affiliate exceeded the Organization's investment by $63,500 and $67,920 as of Dec. 31, 2017 and 2016, respectively.”

“The Organization has been determined to be exempt from income tax under Section 501(c)(3) of the Internal Revenue Code as a publicly supported not-for-profit organization, and accordingly, no provision has been made for either federal or state income taxes. The Organization has adopted accounting principles related to uncertain tax positions and has evaluated the tax positions taken for all open tax years. Currently, the 2014, 2015, and 2016 tax years are open and subject to examination by the IRS; however, the Organization is not currently under audit nor has the Organization been contacted by this jurisdiction. Based on the evaluation of the Organization's tax positions, management believes all positions taken would be upheld under and examination; therefore, no provision for the effects of uncertain tax positions has been recorded for the years ended December 31, 2017 and 2016.”