The Each Initiative Inc

“| Other Revenues:, Amount:| 1. Revenue consisting of reimbursements by others for funds advanced on their behalf e.g. church reimbursed for cost of internet for a family they supported: $1840 2. Money wholly owned by participating families was transferred into EACH's Master Checking account in December of 2021 as a part of the winding up of the corporation and all of it was paid to the families in December 2021and in January of 2022. Please see explanation of timing under Schedules O and N: $6047, $7887|”

“| Grants And Similar Amounts Paid:, Amount:| 1. Supp Cash Benefits To Families formerly homeless -- $28695. 2. Distribution to other 501c3 charities as a part of the dissolution of The EACH Initiative Inc. -- See Schedules O and N -- $39600. 3. Transfer of real property residence to another 501c3 organization Mountain Projects Inc --$143745, $212040|”

“| Other Expenses:, Amount:| 1. Website maintenance software and office supplies: $2170. 2. Insurance -- General Liability D&O Liability Property Insurance for house used by homeless families: $6721 3. "EACH Escrow Funds -- $11479. PLEASE NOTE: This $11479 is a necessary entry because there was no other way to file this 990 Z and acknowledge the dissolution. The NC Sec'y Of State recognized EACH's dissolution as being effective 31 Dec 2021. However EACH had outstanding obligations e.g. legal fees for preparing & filing the dissolution and Board Resolution. AFTER dissolving EACH was THEN entitled to file for unearned insurance premiums on policies it couldn't cancel until after dissolution. By correctly answering Part V Line 36 indicating the charity dissolved the return requires $0 to be entered on Lines 21 25 an 27. The electronic filing allow us to show $11479 as a liability. The following are the deposits and expenses and distribution of the final balance to a 501c3 charity between Jan 1 and May 10 2022. No donations were received. The following entries account for all of the $11479 which was the ending balance in the bank account on 31 Dec 2021: A. DEPOSITS totaling $5968.83 consisting of return of unearned insurance premium totaling $4786 and the transfer of $182.83 being held for a family who forfeited the right to any supplemental assistance. EXPENSES totaling $5345 consisting of $365 in Professional Fees; Payroll fee of $45; Directors & Officers Insurance "tail coverage" of $947; Rent Maintenance of internet service to house formerly owned by EACH and transferred to another 501c3 charity $255; Payment to a family of THEIR funds which had been held in escrow for them -- $3733. On May 10 2022 the balance of all funds was distributed Faces In Need Inc. for their work with the homeless -- $11102.96, $20370|”

“| Explanation:, Amount:| The EACH Initiative Inc's Board voted to dissolve and distribute all remaining assets to designated qualified 501c3 organizations. The house owned by The EACH Initiative Inc was conveyed by deed to Mountain Projects Inc on 1 Dec 2021 $17000 in cash to Mountain Projects Inc on 13 Dec 2021 $5600 to The Orchard Church Inc on 13 Dec 2021 and $17000 to Faces In Need Inc. on 14 December 2021. See Schedule N The Secretary Of State's Office in North Carolina confirmed the filing of Articlesof Dissolution to be effective 31 December 2021. In accordance with the actions of the Board Of Directors Of The EACH Initiative Inc any balance remaining in the checking account was to be distributed to as required by law. Therefore the tax return shows the balance in the bank account as of 31 December as a committed liability. On May 10 22 after all corporate obligations were met and after EACH received the unearned premium of insurance policies that were cancelled during the first months of 2022 the remaining balance of cash was distributed to Faces In Need Inc., $0|”

“| Explanation:, BOYAmount:, EOYAmount:| The EACH Initiative Inc's Board voted to dissolve and distribute all remaining assets to designated qualified 501c3 organizations. The house owned by The EACH Initiative Inc was conveyed by deed to Mountain Projects Inc on 1 Dec 2021 $17000 in cash to Mountain Projects Inc on 13 Dec 2021 $5600 to The Orchard Church Inc on 13 Dec 2021 and $17000 to Faces In Need Inc. on 14 December 2021. See Schedule N. The Secretary Of State's Office in North Carolina confirmed the filing of Articlesof Dissolution to be effective 31 December 2021. In accordance with the actions of the Board Of Directors Of The EACH Initiative Inc any balance remaining in the checking account was to be distributed to as required by law. Therefore the tax return shows the balance in the bank account as of 31 December as a committed liability. On May 10 22 after all corporate obligations were met and after EACH received the unearned premium of insurance policies that were cancelled during the first months of 2022 the remaining balance of cash was distributed to Faces In Need Inc., $, $0|”