Center for Orangutan & Chimpanzee

“Income is distributed to the filing organization from time to time to be used as detailed by the Organization's Board of Directors or reinvested into the Endowment Fund.”

“The Organization follows the guidance in ASC 740, Income Taxes. The Organization and its subsidiary believe that it has no uncertain tax positions for which the Organization may be liable. However, amounts asserted by tax authorities could be different than the Organization's position. Accordingly, the Organization's provisions on federal, state or local tax-related matters could change as revised estimates are made or the underlying matters are settled or otherwise resolved. As of September 30, 2024, the Organization does not believe that its estimates on such tax positions will significantly increase or decrease within the next twelve months. The Organization has no other ongoing federal, state or local tax audits; however, the Organization's tax returns for the three previous years remain open to examination. The Organization is a tax-exempt organization described in section 501(c)(3) of the Internal Revenue Code and, accordingly, there is no provision for income taxes. The Organization is not classified as a private foundation within the meaning of section 509(a) of the Internal Revenue Code. The Organization's wholly owned subsidiary (COCC, Inc.) is a for profit corporation which owns land and equipment used by the Organization. As the subsidiary did not have taxable income, no provision for income taxes has been made. The subsidiary has net operating loss carry-forwards of approximately $1,208,000, which expire between 2028 and 2043, as well as $14,000, which are carried forward indefinitely. Due to the uncertainty regarding the level of future earnings, a valuation allowance has been recorded to estimate that the full amount of deferred tax assets will not be realized within the expiration period.”