Summit for STEM Cell Foundation

Client Note 1

“Client Note 1 - STATEMENT REGARDING FILING OF INITIAL RETURN===============================================================================THIS FILING IS THE INITIAL FILING FOR THE SUMMIT FOR STEM CELL FOUNDATION ("THE FOUNDATION"). THE FOUNDATION APPLIED FOR TAX EXEMPT STATUS WITH THE IRS IN NOVEMBER 2016. ON FEBRUARY 1, 2017, THE FOUNDATION RECEIVED ITS CONFIRMATION OF TAX EXEMPT STATUS AS A PUBLIC CHARITY UNDER IRC SECTION 170(B)(1)(A)(VI) WITH ITS EFFECTIVE DATE OF EXEMPTION EFFECTIVE AS OF JANUARY 21, 2016. THIS 2016 FILING IS MADE IN RESPECT TO THIS EFFECTIVE EXEMPTION DATE RECEIVED AFTER THE CLOSE OF THE FOUNDATION'S TAX YEAR ENDED DECEMBER 31, 2016. DURING 2016, THE FOUNDATION DID NOT RECEIVE ANY FUNDS NOR EXPEND ANY FUNDS, AS DOCUMENTED IN THIS RETURN. THE FOUNDATION WILL CONTINUE TO FILE FORM 990 (OR OTHER APPLICABLE FORM), AS REQUIRED, FOR EACH FUTURE TAX YEAR AS OPERATIONS BEGIN AND ARE MAINTAINED.”