Tesomas Alumni Camping Trust

“The earnings from the endowment funds are used to fulfill the mission of the organization which is to provide grants to boy scouts and scout leaders to attend camps and to provide funding for camp capital improvements and camp operational costs.”

“Part x, line 2 - the council is a nonprofit organization exempt from federal income tax under section 501(c)(3) of the internal revenue code whereby only unrelated business income, as defined by section 509 (a)(1) of the code, is subject to federal income tax. The council currently has no unrelated business income. The council is also exempt from wisconsin income taxes pursuant to similar tax laws of the state of wisconsin. U.s. Gaap requires management to evaluate tax positions taken by the council and recognize a tax liability (or asset) if the council has taken an uncertain position that more likely than not would not be sustained upon examination by a taxing authority. Management has analyzed the tax positions taken by the council, and has concluded that as of december 31, 2013, there are no uncertain positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements. The council is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress. The council will recognize future accrued interest and penalties related to unrecognized tax benefits in income tax expense if incurred. The council's federal returns are subject to examination generally for three years after they are filed and state returns are subject to examination generally for four years after they are filed.”