Hotel Association of Washington DC Inc

“The business promotion funds are used to promote the washington dc hotel industry with an advertising campaign and other promotional activities. The labor counsel fees funds are used to pay for various labor counsel disputes on behalf of member hotels. The community service funds are used to fund community service projects and functions. The public charter hospitality high school fund is funded by an annual donation which is contributed annually to the public charter hospitality high school.”

“The association is exempt from the payment of federal and state income taxes under internal revenue code 501(c)(6) except for taxes on unrelated business income. Financial accounting standards board (fasb) accounting standards codification (asc) 740, accounting for uncertainty in income taxes, prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. The association's management has evaluated the impact of the guidance to its financial statements. The association is not aware of any material uncertain tax positions, and has not accrued the effect of any uncertain tax positions as of december 31, 2013. The association's income tax returns are subject to examination by taxing authorities, generally for a period of three years from the date they were filed. With few exceptions, the association is no longer subject to income tax examinations by federal, state or local tax authorities for years before 2010. The association's policy is to classify income tax related interest and penalties, if any, in other interest expense and penalties expense, respectively.”