Kingdom Community Development Corporatio

PART X, LINE 2:

“Kingdom worship center is a not-for-profit organization exempt from federal income taxes under section 501(c)(3) of the internal revenue code (the code) and is recognized as such by the internal revenue service. Kingdom qualifies for charitable contribution deductions under section 170(b)(1)(a)(i) and has been classified as an organization that is not a private foundation under section 509(a). Also, the following entities are section 501(c)(3) exempted from federal income taxes under the following sections. Dominion is an entity exempt under section 501(a), kcdc is an entity exempt under section 509(a)(2) and kfcm is an entity exempt under section 170(b)(1)(a)(vi). These entities qualify for charitable contribution deductions and have been classified as organizations that are not private foundation under section 509(a). Accounting principles generally accepted in the united states of america provide consistent guidance for the accounting for uncertainty in income taxes recognized in an entity's consolidated financial statements and prescribe a threshold of "more likely than not" for recognition of tax positions taken or expected to be taken in a tax return. Kingdom performed an evaluation of uncertain tax positions as of december 31, 2022 and 2021, and determined that there were no matters that would require recognition in the consolidated financial statements or which may have any effect on its tax-exempt status. As of december 31, 2022, the statute of limitations for fiscal years 2019 through 2022 remains open with the u.s. Federal jurisdiction or the various states and local jurisdictions in which the kingdom operates. It is the kingdom's policy to recognize interest and/or penalties related to uncertain tax positions, if any, in income tax expense.”