Chris White Community Development Corporation

“Line 21 of Part X, Form 990 represents security deposits held in rental operations.”

“CWCDC is a nonprofit organization that is exempt from income taxes under Section 501(c)(3) of the Internal Revenue Code ("IRC") and, therefore, has made no provision for federal income taxes in the accompanying consolidated financial statements. In addition, CWCDC qualifies for the charitable contribution deduction under Section 170(b)(1)(A) and has been determined by the Internal Revenue Service ("IRS") not to be a "private foundation" within the meaning of Section 509(a)(2) of the IRC. Income not related to CWCDC's tax-exempt purpose may be subject to taxation as unrelated business income. The Partnership has elected to be treated as a pass-through entity for income tax purposes and, as such, is not subject to income taxes. Rather, all items of taxable income, deductions and tax credits are passed through to and are reported by its owners on their respective income tax returns. The Partnership's federal tax status as a pass-through entity is based on its legal status as a partnership. Accordingly, the Partnership is not required to take any tax positions in order to qualify as a pass-through entity. The Partnership is required to file and does file tax returns with the IRS and other taxing authorities. The Partnership's policy for penalties and interest assessed by income taxing authorities is to include them in administrative expenses. For the years ended December 31, 2024 and 2023, the Partnership did not incur any penalties and interest from taxing authorities. CWCDC's Return of Organization Exempt from Income Tax (Form 990) and income tax returns filed by the Partnership are subject to examination by the IRS for a period of three years. While no income tax returns are currently being examined by the IRS, tax years since 2021 remain open.SLI has no financial activities other than its 0.01% share, totaling $369 of accumulated net losses of the Partnership and, therefore, has incurred no income taxes. Accordingly, these consolidated financial statements do not reflect a provision for income taxes, and none of the entities have any other tax positions requiring disclosure.”