True Ground Housing Partners

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“Apah and its subsidiaries, cameron commons development corporation, carlyn springs/foxcroft terrace development corporation, fisher house development corporation, queen's court development corporation, and rosslyn ridge development corporation have applied for and received a determination letter from the internal revenue service ("irs") to be treated as a tax-exempt entity pursuant to section 501(c)(3) of the internal revenue code. Due to their tax-exempt status, apah and its subsidiaries are not subject to income taxes, except for taxes on unrelated business income. Apah did not have unrelated business income for the year ended december 31, 2019. Apah and its subsidiaries are required to file and do file tax returns with the irs and other taxing authorities. Accordingly, these consolidated financial statements do not reflect a provision for income taxes for apah and its exempt subsidiaries and they have no other tax positions which must be considered for disclosure. Each of the organizations except apah commercial llc, apah oakwood llc, apah sterling 4 llc, apah sterling 9 llc, apah snowden, llc, apah westover llc, avv apartments, llc, the barkalow llc, ballston east four gp llc, ballston west nine gp llc, buchanan gardens ii, llc, gilliam place, llc, gilliam retail llc, marbella development llc, oakwood north four development llc, and oakwood south nine development llc, file separate tax returns. Apah commercial llc, apah oakwood llc, apah sterling 4 llc, apah sterling 9 llc, apah snowden, llc, apah westover llc, avv apartments, llc, the barkalow llc, ballston east four gp llc, ballston west nine gp llc, buchanan gardens ii, llc, gilliam place, llc, gilliam retail llc, marbella development llc, oakwood north four development llc, and oakwood south nine development llc are single member limited liability companies which are not recognized for federal income tax purposes. Apah commercial llc, apah oakwood llc, apah sterling 4 llc, apah sterling 9 llc, apah snowden, llc, apah westover llc, the barkalow llc, ballston east four gp llc, ballston west nine gp llc, buchanan gardens ii, llc, gilliam place llc, gilliam retail llc, oakwood north four development llc, and oakwood south nine development llc's activities are reported on apah's income tax return. Avv apartments llc, marbella development llc, and post east four development corporation's activities are reported on rosslyn ridge development corporation's tax return. Columbia grove, inc. Is a corporation and accounts for income taxes using the asset and liability approach, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of temporary differences between the carrying and tax basis of assets and liabilities. A valuation allowance is recorded if, based upon the evidence available, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Columbia grove, inc. Evaluates its uncertain tax positions in accordance with the applicable guidance. Accordingly, a loss contingency is recognized when it is probable that a liability has been incurred as of the date of the consolidated financial statements and the amount of the loss can be reasonably estimated. The amount recognized is subject to estimate and management judgment with respect to the likely outcome of each uncertain tax position. The amount that is ultimately sustained for an individual uncertain tax position or for all uncertain tax positions in the aggregate could differ from the amount recognized. Income tax returns filed by columbia grove, inc. Are subject to examination by the internal revenue service for a period of three years. While no income tax returns are currently being examined by the internal revenue service, tax years since 2016 remain open. Arlington mill limited partnership, apah snowden limited partnership, apah westover apartments limited partnership, ballston east four limited partnership, ballston west ni”