Southwest Transplant Alliance Foundation

“Fin 48 (asc 740) footnote following is the text from the footnotes of the organization's consolidated audited financial statements: the organization is exempt from federal income tax under section 501(a) of the code of 1986, as amended, as an organization described in section 501(c)(3) of the code. However, income generated from activities unrelated to the organization's exempt purpose is subject to tax under code section 511. For the years ended december 31, 2019 and 2018 the organization had no significant unrelated business income. Accordingly, no provision for income tax has been provided in the accompanying consolidated financial statements. Gaap requires the evaluation of tax positions taken or expected to be taken in the course of preparing the organization's tax returns 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 recognizes interest and penalties, if any, related to uncertain tax positions as income tax expense. The organization's informational returns are generally subject to examination for three years after the later of the due date or date of filing.”

“Financial statememt presentation of fundraising expense”

“Financial statememt presentation of fundraising expense”