Battle Creek Unlimited Inc

“The city of battle creek direct investment funds are administered by the organization and consist of the economic development fund, an enterprise fund of the city of battle creek, michigan, and the downtown development authority revolving loan fund, an enterprise fund of the battle creek downtown development authority (the "dda"), a component unit of the city of battle creek, michigan. The funds provide financing to businesses to create and retain jobs in the city of battle creek and dda district, respectively. Through the adminstration of these funds, the organization maintains control over the assets of the funds. These assets are not available for general operations of the organization.”

“The organization is a not-for-profit organization exempt from income tax under section 501(c)(3) of the internal revenue code and is exempt from similar state and local taxes. Although the organization was granted an income tax exemption by the internal revenue service, such exemption does not apply to "unrelated business taxable income". The organization has been classified as not a private foundation. The organization analyzes its income tax filing positions in the federal and state jurisdictions where it is required to file income tax returns, as well as all open tax years in these jurisdictions, to identify potential uncertain tax positions. The organization has evaluated its income tax filing positions for fiscal years 2022 through 2025, the years which remain subject to examination as of june 30, 2025. The organization concluded that there are no significant uncertain tax positions requiring recognition in the organization's consolidated financial statements. The organization does not expect the total amount of unrecognized tax benefits ("utb") (e.g. Tax deductions, exclusions, or credits claimed or expected to be claimed) to significantly change in the next twelve months. The organization does not have any amounts accrued for interest and penalties related to utbs at june 30, 2025 and 2024, and is not aware of any claims for such amounts by federal or state income tax authorities. The organization's single shareholder corporations (50 capital avenue development, inc. And mccamly plaza condominium association) are their own taxable entity that may be subject to income taxes when taxable income is generated. The organization's seven single-member, llc's (riverfront condominium development of battle creek, llc, west michigan land holding company, llc, battle creek river 1, llc, battle creek river 2, llc, battle creek river 3, llc, mich-air-btl, llc and 50 capital ave holding, llc) are disregarded entities for tax purposes and are included in the tax reporting of battle creek unlimited, inc. There was no income tax expense in 2025 or 2024.”