Christian Service Program Institute

“Christian service program established an endowment fund, the income distribution of which is used by the program to support its charitable activities. Control of this endowment fund is vested in the community foundation of north louisiana. Under the terms of the agreement, variance power and legal ownership of the funds rest with the foundation, and net investment income and capital distribute 4% of the average market value of the fund to christian service program annual, provided appreciation/depreciation accumulate in the endowment fund. The foundation is obligatedto distribute 4% of the average market value of the fund to christian service program annually, provided the average market value is greater than the amount contributed to the fund.”

“Christian service program qualifies as a tax-exempt organization as described in the internal revenue service code section 501(c)(3). Accordingly, no provision for income taxes has been made in the accompanying financial statement. Contributions to the organization are deductible as charitable contributions under internal revenue code section 170. Christian service program is required to review various tax positions it has taken with respect to its exempt status and determine whether in fact it continues to qualify as a tax exempt entity. It must also consider whether it has nexus in jurisdictions in which it has income and whether a tax return is required in those jurisdictions. In addition, as a tax exempt entity, the christian service program must assess whether it has any tax positions associated with unrelated business income subject to income tax. Christian service program does not expect any of its tax positions to change significantly over the next twelve months. Any penalties related to late filing or other requirements would be recognized as penalties expense in the christian service program's accounting records. Christian service program is required to file u.s. Federal form 990 for informational purposes. Its federal income tax returns are subject to examination by the internal revenue service, generally for three years after they were filed.”