Phoenix Community Alliance

“During 2017, pca entered an agreement with the phoenix parks and recreation board and hance park conservancy ("hpc") for the purpose of cooperative collaboration for the redevelopment, enhancement and funding in the implementation of the margaret t. Hance park ("park"). Hpc's and pca's role is to seek and obtain donations, grants, sponsorships, and other private sources for the funding of the implementation of the park master plan. Pca is considered the fiscal agent for the purposes of holding in trust the private funds raised by hpc and pca to implement the plan. Pca is required to hold the funds in a segregated account and any interest earned on the funds will be retained within the account. Funds may be disbursed from the account only upon the approval from both hpc and pca and must be disbursed as directed under the agreement.”

“The organization qualifies as a tax-exempt organization under section 501(c)(3) of the internal revenue code ("irc") and, accordingly, there is no provision for income taxes. In addition, the organization qualifies for a charitable contribution deduction under section 170(b)(1)(a) of the irc and has been classified as an organization other than a private foundation under section 509(a)(1). Income determined to be unrelated business taxable income would be taxable. The organization evaluates its uncertain tax positions, if any, on a continual basis through review of its policies and procedures, review of its regular tax filings, and discussions with outside experts. As of december 31, 2024 and 2023, management does not believe any uncertain tax positions exist. The organization's federal return of organizations exempt from income tax (form 990) for 2024 and 2023 are subject to examination by the internal revenue service ("irs"), generally for three years after they were filed.”