Economic Council Helping Others Inc

“The internal revenue service has determined that the agency meets the requirements of the internal revenue code and is exempt from federal income tax under section 501(c)(3) of the code. In addition, the agency has been determined by the internal revenue service not to be a "private foundation" within the meaning of section 509(a) of the internal revenue code. The agency adopted accounting requirements that prescribe when to recognize and how to measure the financial statement effects of income tax positions taken or expected to be taken on its income tax returns, including the position that the agency continues to qualify to be treated as a tax-exempt agency for both federal and state income tax purposes. These rules require management to evaluate the likelihood that, upon examination by relevant taxing jurisdictions, those income tax positions would be sustained. Management of the agency believes its activities allow it to continue to be classified as an agency exempt from income tax under section 501(c)(3) of the internal revenue code and believes there are no activities subject to unrelated business income tax. Based on that evaluation, if it were more than 50% probable that a material amount of income tax would be imposed at the entity level upon examination by the relevant taxing authorities, a liability would be recognized in the accompanying statement of financial position along with any interest and penalties that would result from that assessment. If the agency has unrelated business income, the federal exempt organization business income tax returns (form 990t) would be required and subject to examination by the internal revenue service for three years after they were filed. Should any penalties and interest be incurred, they would be recognized as management and general expenses. Based on the results of management's evaluation, these requirements did not have a material effect on the agency's financial statements. Consequently, no liability is recognized in the accompanying statements of financial position for uncertain income tax positions. The agency files federal form 990 with the internal revenue service and copies of form 990 with states in which the agency is registered, as required. The statute of limitations for examination of the agency's returns expires three years from the due date of the return or the date files, whichever is later. The agency's returns for the years ended september 30, 2021 through 2023, are still open for examination and management anticipates the statute of limitations for the return for the year ended september 30, 2024, will expire in february 2028.”

“Fundraising expenses offset against revenue on form 990 6.”

“Fundraising expenses offset against revenue on form 990 6.”