Ambassador Christian Academy Inc

“Joy Oliver,Joyce Oliver and Michael Oliver were/are related.”

“Each board member receives an electronic copy by email”

“for review along with a request for a vote on the”

“motion to approve the 990 return.”

“Conflict of interest matters are disclosed and discussed”

“annually by the board of diretors.”

“The financial statements have not yet been audited. However, they will be audited and included in consolidated audited financial statements.”

“Request for Penalty Abatement: Facts: We filed a timely 6-month extension. In November, the preparer reviewed the financials before preparing the return. We were informed by the preparer that our books had significant expense transactions that may require capitalization. Additional time was required to review expenditures, identify those that require capitalization and adjust the depreciation expense for the year. Given the size of our organization and the volume of transactions, this could not be completed by the November 15th deadline. We required additional time to file an accurate tax return. We are putting procedures in place to monitor such transactions more timely. We are committed to file a complete and accurate return, and this could not be done in a timely manner for tax year 2024. This was not willful neglect on any parties part, but rather performing the necessary due diligence, business care and prudence to file an accurate tax return. Analysis of the Law:IRC Section 6652(c) states that a penalty shall be imposed due to the late filing of such returns as required to be filed by exempt organizations unless the failure is shown to be due to reasonable cause and not due to willful neglect. The penalty is based on a daily rate as prescribed by statute. IRM 20.1.1.3.2 states that reasonable cause relief is generally granted when the taxpayer exercises ordinary business care and prudence in determining their tax obligations but is unable to comply with those obligations. Ordinary business care and prudence is established by considering the taxpayers ability to make provision for reasonably foreseeable events, the explanation of events leading to the noncompliance, the taxpayers history of compliance, and the length of time between the events cited as a reason for noncompliance and the subsequent compliance. (IRM 20.1.1.3.2)Application of the Law. We believe we exercised ordinary business care and prudence in completing the 2024 form 990 as timely and as accurately as possible. The Organization had every intention of complying with the filing requirements and deadline. We could not file a complete and accurate return timely. This was not an intentional act of noncompliance on our part. Finally, as a not-for-profit organization in these very hard economic times and any funds that we have to allocate away from our programs create a hardship in our meeting our mission. We respectfully request an abatement of any and all penalties under IRM 20.1.1.3.2 in that we exercised ordinary business care and prudence in complying with our tax obligations and filings.”