Great Futures Fund

“Client Note 1 - TAXPAYER FILED FORM 8868 EXTENSION OF TIME TO FILE ITS 2019 RETURN ON 7/13/20EXTENDED THE DUE DATE TO 11/15/20.EFFECTIVE 11/15/20 THE TAXPAYER IS UP TO DATE WITH ITS 990-EZ FILINGS - ITS 2ND YEAR 2019 AND ITS INITIAL YEAR 2018.FOR INFORMATION ONLY, TAXPAYER ATTACHED THIS NOTE TO ITS PRIOR YEAR RETURN - INITIAL YEAR 2018:TAXPAYER RESPECTFULLY REQUESTS AN ABATEMENT OF ANY LATE FILING PENALTIES - FORM 990-EZ. THIS IS THE TAXPAYER'S INITIAL YEAR - 20181. 9/24/18 RECEIVED A DETERMINATION LETTER FROM THE IRS THAT WE WEREEXEMPT FROM FEDERAL INCOME TAX UNDER IRC 501(C)(3).2. 4/27/19 E-FILED FORM 8868 FOR AN EXTENSION OF TIME TO FILE FORM 990-EZ3. AROUND JUNE 2019 TRYING TO COMPLETE THE RETURN WE NOTICED THAT THE DETERMINATIONLETTER SAID WE WERE A PRIVATE FOUNDATION - OUR INTENTION WAS TO BE A PUBLIC CHARITY.4. DISCUSSIONS ON THE PHONE WITH THE IRS DURING JUNE AND JULY 2019 WHO COULD NOT EVEN FIND A RECORD OF OUR ORIGINAL DETERMINATION LETTER. THE IRS TOLD US THAT THIS SITUATION MAY TAKE 180 DAYS TO RESOLVE.5. 7/22/19 - FILED FORM 8940 (REQUEST FOR CLASSIFICATION CHANGE) WITH THE IRS.6. 3/24/20 - RECEIVED A LETTER FROM THE IRS DATED 3/19/20 THAT WE MEET THE REQUIREMENTS FOR A PUBLIC CHARITY.7. BECAUSE OF COVID-19 AND OTHER PROBLEMS THIS RETURN WAS OVERLOOKED.8. THIS CHARITY HAD A SUCESSFUL EVENT IN 2019 WHICH MADE IT POSSIBLE TO MAKE A CONTRIBUTION OF $65,000 TO THE BOYS AND GIRLS CLUB OF DELAWARE INC.ALL THE DONATIONS RECEIVED WENT TOWARDS THE $65,000 WITH THE EXCEPTION OF $11,000 NEEDED FOR COSTS FOR NEXT YEARS EVENT.9. WE ARE FILING THIS RETURN BY 11/15/20 AND ARE ALSO FILING OUR 2019 RETURN (UNDER EXTENSION) BY 11/15/20.10. AS OUR TAX COMPLIANCE WILL BE UP TO DATE BY 11/15/20 AND SINCE 2018 IS OUR INITIAL YEAR WE RESPECTIVELY REQUEST AN ABATEMENT OF ANY LATE FILING PENALTIES - FORM 990-EZ.”

“| Donee's Name: BOYS AND GIRLS CLUBS OF DELAWARE INC | Donee's Address: 669 UNION STREET WILMINGTON DE 19805 | Relationship of Donee: NONE | Cash Amount Given: $65000”

“TAXES & LICENSES $476”

“OFFICE EXPENSES $180”