Thrive-Ing Cedars Foundation

“| Explanation:| During the tax year the organization was in its startup phase and focused on foundational development activities. These activities included completing the organizational formation process with the State of Alabama submitting the application for federal tax-exempt status under Section 501c3 of the Internal Revenue Code and developing strategic plans for future charitable and educational programming. No formal program services were conducted during the tax year. The organization anticipates launching initiatives in financial literacy education workforce development and community empowerment in the upcoming year.”

“| Explanation:| The organization did not receive any contributions grants or other revenue during the tax year. As a result total revenue reported is $0. Initial organizational and filing expenses including state registration and IRS application fees were paid personally by a founder on behalf of the organization. These costs were not reimbursed during the tax year and are therefore not reflected as organizational expenses in Part I.”

“| Explanation:| The organization is newly formed and is currently building the infrastructure necessary to carry out its exempt purposes. Activities during the year were limited to administrative setup compliance and planning. Full program implementation is expected in the following tax year.”