Tsrhc Scholarship Fund-Tax

“Schedule d, part v, line 4: the organization's endowment funds are used to generate income for educational scholarships.”

“SCHEDULE D, PART V, LINES 1A-G: Reporting of Endowment Funds has been expanded to include temporarily restricted and permanently restricted funds.”

“SCHEDULE D, PART V, COLUMNS B AND C: PER THE ORGANIZATION'S AUDITED FINANCIAL STATEMENTS, A PRIOR PERIOD ERROR WAS DISCOVERED DURING 2014 RESULTING in a reclassification between certain temporary restricted net assets and unrestricted net assets. Prior to January 1, 2014, contributions to this program were recorded as temporarily restricted contributions. Beginning January 1, 2014, contributions to the program were recorded as unrestricted contributions. Accordingly, a Reclassification adjustment of $82,948 was made between the December 31, 2012 net asset balances. The December 31, 2013 financial statements have been restated to reflect a $43,858 increase in unrestricted contributions and an equivalent decrease in temporarily restricted contributions. Total net assets and total change in net assets for the year ended December 31, 2013 were unchanged as a result of this restatement.”

“SCHEDULE D, PART X, LINE 2: FOLLOWING IS THE TEXT FROM THE FOOTNOTES OF THE ORGANIZATION'S AUDITED FINANCIAL STATEMENTS: The Organization is exempt from federal income tax under Section 501(c)(3) of the Internal Revenue Code. In addition, the Organization qualifies for the charitable contribution deduction under Section 170(b)(1)(A) and has been classified as an organization that is not a private foundation under Section 509(a)(2). The Organization received a favorable determination letter from the Internal Revenue Service dated March 29, 1995 stating that the Organization continued to retain its tax-exempt status. For the years ended December 31, 2014 and 2013, the Organization had no material unrelated business income. Accordingly, no provision has been made for federal income tax in the accompanying financial statements. GAAP requires the evaluation of tax positions taken or expected to be taken in the course of preparing the Organization's tax return to determine whether the tax positions are more likely than not of being sustained by the applicable tax authority. Tax positions not deemed to meet the more likely than not threshold would be recorded as a tax benefit or expense in the current year. A reconciliation is not provided herein, as the beginning and ending amounts of unrecognized benefits are zero, with no interim additions, reductions, or settlements. The Organization is relying on its tax-exempt status and its adherence to all applicable laws and regulations to preserve that status. However, the conclusions regarding accounting for uncertainty in income taxes will be subject to review and may be adjusted at a later date based on factors including, but not limited to, ongoing analysis of tax laws, regulations, and interpretations thereof. The Organization's information returns filed in the U.S. federal jurisdiction are generally subject to examination for three years after the later of the due date or filing date. As a result, the Organization is no longer subject to income tax examinations by tax authorities for years prior to 2011.”

“Schedule d, part xi, line 2d: $34,546 fundraising and gaming expenses netted with revenue”

“Schedule d, part xii, line 2d: $34,546 fundraising and gaming expenses netted with revenue ($1,500) recovery of prior year scholarships”