Goodwill Endowment Inc.

“It is the intention of the board of directors to use the endowment funds to support goodwill industries of north florida, inc., its supported organization.”

“The organization is a private not-for-profit organization as described in section 501(c)(3), of the internal revenue code and is exempt from federal and state income taxes on related income pursuant to section 501(a) of the internal revenue code and chapter 200.13 of the florida statutes, respectively. The organization evaluates its tax positions for any uncertainties based on the technical merits of the position taken. The organization recognizes the tax benefit from an uncertain position only if it is more likely than not that the tax position will be upheld on examination by taxing authorities. The organization has analyzed the tax positions taken and has concluded that as of december 31, 2016, there were no uncertain tax positions taken, or expected to be taken, that would require recognition of a liability or disclosure in the consolidated financial statements. Management is required to analyze all open tax years, as defined by the statute of limitations, for all major jurisdictions, including federal and certain state taxing authorities. With few exceptions, at december 31, 2016, the organization is no longer subject to u.s. Federal, state and local, or non-us income tax examinations by taxing authorities for years before 2013. As of and for the year ended december 31, 2016, the organization did not have a liability for any unrecognized taxes. The organization has no examinations in progress and is not aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax liabilities will significantly change in the next twelve months.”