Inglewood Park Cemetery

“The endowment fund was organized to receive deposits from the proceeds of sales of cemetery property and to maintain such funds for the care, improvement, and preservation of the cemetery property.”

“Per the california revenue and taxation code section 23701c, ipc is not subject to federal or state income taxes. Ccg, as well as plc prior to december 1, 2021, are california corporations that are subject to federal and state taxes. Effective december 1, 2021, plc converted from a corporation to a limited liability company. Since plc is wholly owned by ipc, as a single member limited liability company it is no longer subject to federal taxes. However, as a single member llc, it is subject to filing a california income tax return each year. The california tax return is subject to a california gross receipts fee (if applicable) and the california minimum tax of $800. 827 redondo and rmpc (as of august 2024) are also single member llcs subject to a california minimum tax of $800 and the california gross receipts fee (if applicable). The income tax liability has been determined under the provisions of asc 740, income taxes, ("asc 740), requiring an asset and liability approach for financial accounting and reporting for income taxes. The liability is based on the current and deferred tax consequences of all events recognized in the consolidated financial statements as of the date of the consolidated statements of financial position. Deferred taxes are provided for temporary differences that will result in taxable or deductible amounts in future years, primarily attributable to a different basis in certain assets for financial and tax reporting purposes, including recognition of deferred tax assets net of a related valuation allowance. Plc and ccg account for uncertain tax positions in accordance with asc 740. Interpretations and guidance surrounding income tax laws and regulations change over time. As such, changes in plc's and ccg's subjective assumptions and judgments can materially affect amounts recognized in the consolidated statements of financial position and the consolidated statements of activities. Plc's and ccg's policy is to recognize interest and/or penalties related to all tax positions in income tax expense. No interest or penalties were accrued as of december 31, 2024 and 2023. Plc and ccg file u.s. Federal and state of california income tax returns. Years prior to 2022 are no longer subject to us federal income tax examination, and plc and ccg are no longer subject to major state income tax examinations for years before 2021.”