Kipp DC - Shaw Qalicb Inc

“Kipp dc public charter schools is a tax-exempt organization under section 501(c)(3) of the irc and is not considered to be a private foundation. Kipp dc public charter schools is exempt from federal taxes on income other than unrelated business income. Kipp dc public charter schools did not have any net unrelated business income for the years ended june 30, 2018 and 2017. Shaw qalicb is a district of columbia non-stock, nonprofit organization. Kipp dc follows the accounting standard on accounting for uncertainty in income taxes, which addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the consolidated financial statements. Under this guidance, kipp dc may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by taxing authorities based on the technical merits of the position. The tax benefits recognized in the consolidated financial statements from such a position are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. The guidance on accounting for uncertainty in income taxes also addresses de-recognition, classification, interest and penalties on income taxes, and accounting in interim periods. Interest and penalties associated with unrecognized tax benefits are classified as additional income taxes in the consolidated statements of activities. Kipp dc files income tax returns in the u.s. Federal jurisdiction. As of june 30, 2018, there were no material unrecognized/derecognized tax benefits or tax penalties or interest. Generally, kipp dc is no longer subject to u.s. Federal income tax examinations by tax authorities for years before 2015.”

“Related entity activities reported on the consolidated fs 136,034,651.”

“Related entity activities reported on the consolidated fs 127,657,204.”