Nami of Southwest Ohio

XII

“The Financial Accounting Standards Board FASB has issued guidance which clarifies generally accepted accounting principles for recognition, measurement, presentation and disclosure relating to uncertain tax positions. This guidance clarifies the accounting and recognition for income tax positions taken or expected to be taken in the Organizations income tax returns. The Organizations income tax filings are subject to audit by various taxing authorities. The years of filings open to these authorities and available for audit are 2010, 2011, and 2012. The Organizations policy with regards to interest and penalties is to recognize interest through interest expense and penalties through other expense. In evaluating the Organizations tax provision and tax exempt status, interpretations and tax planning strategies were considered. The Organization believes their estimates are appropriate based on the current facts and circumstances. The Organization is exempt from federal income taxes under Section 501c3 of the Internal Revenue code. The Organization is not a private foundation as defined by Section 509a of the Internal Revenue code. For the year ended December 31, 2013, the Organization has determined that no income taxes are due for its activities. Accordingly, no provision for income taxes has been recorded in the accompanying financial statements. Management annually reviews its tax positions and has determined that there are no material uncertain tax positions that require recognition in the financial statements.”