Monique Burr Foundation for Children Inc.

“The foundation has adopted fasb asc 740-10, accounting for income taxes, which clarifies the accounting for uncertainty in income taxes recognized in an entity's financial statements. The interpretation 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. Based on analyses of various federal and state filing positions of the foundation, management believes that its income tax filing positions and deductions are well documented and supported. As of june 30, 2019, the foundation had no temporary differences relating to the recognition of income and expenses for financial and tax reporting purposes. Accordingly, no deferred tax assets or liabilities are recorded. Additionally, as of june 30, 2019, the foundation had no uncertain tax positions that would qualify for either recognition or disclosure in the financial statements. Therefore, no reserves for uncertain income tax positions have been recorded pursuant to fasb asc 740-10. In addition, no cumulative effect adjustment related to the adoption of fasb asc 740-10 was recorded. There have been no increases or decreases in unrecognized tax benefits for current or prior years since the date of adoption. Furthermore, no interest or penalties have been included since no reserves were recorded and no significant increases or decreases are expected to occur within the next 12 months. When applicable, such interest and penalties will be reported as income tax expense. Since the tax matters are subject to some degree of uncertainty, there can be no assurance that the foundation's tax returns will not be challenged by the taxing authorities and that the foundation will not be subject to additional tax, penalties, and interest as a result of such challenge. At june 30, 2019, the periods that remain open to examination under federal statute include the years ended december 31, 2016 through december 31, 2018.”

“Fundraising expenses recorded as a reduction in income 47,089. Unrealized loss recorded on prior return reported on 18 month financials -9,944. Donated services recorded on prior return reported on 18 month financials 35,181. Donated services recorded on prior return reported on 18 month financials 81,617. Revenue recorded on prior return reported on 18 month financials 958,309.”

“Fundraising expenses recorded as a reduction in income 47,089. Donated services recorded on prior return reported on 18 month financials 35,181. Fund. Expenses recorded on prior return reported on 18 month financials 81,617. Functional expense recorded on prior return reported on 18 month financials 980,479.”