Help of Ojai Inc

“During May 1995, the Organization transferred funds to the Ventura County Community Foundation (Foundation) to establish an endowment fund. These funds are held by the Foundation as the Foundation's component fund and the Foundation has the variance power to these funds. That power gives the Foundation the right to distribute the investment income to another not-for-profit organization of its choice if the Organization ceases to exist or if the governing board of the Foundation votes that support of the Organization (a) is no longer necessary or (b) is inconsistent with the needs of the Ventura County Community. While the Foundation is the legal owner of all assets held in the component fund and the Organization cannot withdraw any portion of the amount transferred and any appreciation on those transferred assets, however for reporting purposes, this fund has been reported as an asset of the Organization in conformity with accounting principles generally accepted in the United States of America. In the statement of financial position, the portion of the assets transferred to the Foundation is presented under the permanently restricted category. At June 30, 2018 and 2017, the Organization's beneficial interest in the endowment fund was $103,726 and $102,950, respectively.”

“On July 1, 2009, the Organization adopted the recognition requirements for uncertain income tax positions as required by generally accepted accounting principles, with no cumulative effect adjustment required. Income tax benefits or expenses are recognized for income tax positions taken or expected to be taken in a tax return, only when it is determined that the income tax position will more-likely-than-not be sustained upon examination by taxing authorities. The Organization has analyzed tax positions taken for filing with the Internal Revenue Service and State of California. The Organization believes that income tax filing positions will be sustained upon examination and does not anticipate any adjustments that would result in a material adverse effect on the Organization's financial condition, results of operations or cash flows. Accordingly, the Organization did not record any reserves, or related accruals for interest and penalties for uncertain income tax positions at June 30, 2018 and 2017. The Organization's policy is to classify income tax related interest and penalties as interest expense on the financial statements. The Organization did not pay any income tax related interest and penalties for the years ended June 30, 2018 and 2017.The Organization's 2017, 2016 and 2015 tax years remain subject to examination by the Internal Revenue Service and the California Franchise Tax Board.”