Mother Teresa House Inc.

“TENANT SECURITY DEPOSITS”

“The organization received notice from the internal revenue service (irs) effective april 14, 2009 approving exemption(see note 8) from income taxes under section 501(c)(3) of the internal revenue code (irc) and therefore has made no provision for federal income taxes in the accompanying financial statements. In addition, the organization has been determined by the internal revenue service (irs) not to be a "private foundation" within the meaning of section 509(a) of the irc. Income not related to the organization's tax-exempt purpose may be subject to taxation as unrelated business income. Accounting principles generally accepted in the united states of america impose a threshold for determining when an income tax benefit can be recognized in regard to uncertain tax positions. The organization has determined that no liability for uncertain tax positions is required to be accrued and included in the statement of financial position as of december 31, 2013 and 2012. The organization's federal forms 990 for the years ended december 31, 2010, 2011, and 2012 are subject to examination by the irs, generally for three years after they were filed. Note 8: commitments and contingencies on february 13, 2013, the organization received a notice from the irs that the organization's tax-exempt status was automatically revoked for failure to file three consecutive irs forms 990 for the years ended 2009, 2010, and 2011. The organization has indicated that the reason for the oversight was that the irs retroactively applied the organization's initial exempt status to periods prior to the organization conducting operations and establishing a system of accounting. While waiting for re-approval through the reapplication process the organization has received exempt status by virtue of being listed in the official catholic directory. The organization has provided the irs with all required tax filings.”