The Fitzpatrick Collaborative Inc

Schedule D, Page 3, Part X

“The organization is exempt from federal and state income taxation under section 501(a) as an organization described in section 501(c)(3) of the internal revenue code and section 830 cmr 63.38t.1 of massachusetts general laws. Since the organization is exempt from federal and state income tax liability, no provision is made for current or deferred income tax expenses. The organization is not a private organization. Only unrelated business income, as defined by section 512(a)(1) of the code, is subject to federal income tax. Management is not aware of any transactions that would negatively impact the organization's tax-exempt status. The organization accounts for income taxes in accordance with income tax accounting guidance in fasb asc topic 740, income taxes. The organization follows this guidance for recognizing and measuring uncertain tax positions. The organization follows the statutory requirements for their income tax accounting and generally avoid risks associated with potentially problematic tax positions that may be challenged upon examination. Management believes any liability resulting from taxing authorities imposing additional income taxes from activities deemed to be unrelated to the organization's tax-exempt status would not have a material effect on the accompanying financial statements. The organization's federal and state of massachusetts income tax returns are subject to possible examination by the taxing authorities until the expiration of the related statute of limitations on those tax returns. In general, the federal and state income tax returns have a three-year statute of limitations.”