James a & Mary P Bush Charitable Tr

“Process of management review of Form 990 previously 990-EZ. Copies of the 990-EZ have been provided to each Trustee at the annual meeting. Meetings as necessary are conducted informally. At the special meeting that approved to discontinue operations by sale and complete distribution of funds, the Trustees left the task to wind up operations in the hands of James A Bush. Copies of this final filing will be provided to all Trustees for review to document the final dissolution of this Charitable Trust. Copies are retained for public inspection and furnished upon request.”

“This organization keeps it Charter, financial statements, and tax return copies in its office. Copies are retained for public inspection. This is a small operation with volunteer management and no employees and nominal expense outlays - with distributions made to just two supported organizations.”

“This organization ceased conducting all program services. All assets were liquidated and distributed to the supported organizations.”

“Reconciliation of net fund assets - Revenues/profit is recorded from the owned Sub-S Corporation Form 1120-S Schedule K-1 issued to this organization as partner - recorded on a taxable income basis. The assets are recorded on a booked basis as capital is credited to the partner. Reconciling items Statutory depletion in excess of cost basis 157 Intangible Drilling Costs Section 59e amortization in lieu of write-off - prior years 5,011 Intangible Drilling Costs remaining to be amortized at year-end, added to basis of Sub-S stock sold 9,151 and non-deductible expenses omitted from income 6,103. Although irrelevant to a tax-exempt entity, its stockholder elections are identical to those of the individual partner so that questions of differing elections might never be raised or require additional documentation.”