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PERMANENTLY RESTRICTED FUNDS ARE SOLELY TO PROVIDE ENDOWMENT FOR THE LIBRARY. THE EARNINGS OF THE PERMANENTLY RESTRICTED FUNDS MAY BE USED FOR OPERATIONS. SCHEDULE D, PAGE 3, PART X THE LIBRARY IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AS SUCH, THE LIBRARY IS EXEMPT FROM STATE AND FEDERAL INCOME TAXES ON INCOME RELATED TO ITS TAX-EXEMPT PURPOSE. ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE MANAGEMENT TO EVALUTE TAX POSITIONS TAKEN AND RECOGNIZE A TAX LIABILITY (OR ASSET) IF THE ORGANIZATION HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY TAXING AUTHORITIES. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN AND HAS CONCLUDED THAT AS OF JUNE 30, 2023, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY (OR ASSET) OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE LIBRARY IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS, HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX POSITIONS IN PROGRESS. MANAGEMENT BELIEVES THE LIBRARY IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR THE YEARS PRIOR TO 2020. SCHEDULE D, PAGE 4, PART XI, LINE 4B GAAP REQ TO NET INVMT EXPENSE WITH INVMT INCOME 18,043 SCHEDULE D, PAGE 4, PART XII, LINE 4B GAAP REQ TO NET INVMT EXPENSE WITH INVMT INCOME 18,043 FORM 990, PAGE 6, PART VI, LINE 11B A REVIEW OF THE FORM 990 WAS PERFORMED BY THE FINANCE COMMITTEE PRIOR TO THEIR ACCEPTANCE OF THE RETURN. FORM 990, PAGE 6, PART VI, LINE 12C THE CONFLICTS OF INTEREST POLICY INCLUDES DIRECTORS, OFFICERS, BOARD MEMBERS, EMPLOYEES, AND VOLUNTEERS. DETERMINATIONS ON WHETHER A CONFLICT OF INTEREST EXISTS ARE MADE AND REVIEWED AT THE BOARD LEVEL. A PERSON WHO IS DETERMINED TO HAVE A CONFLICT OF INTEREST SHALL NOT PARTICIPATE IN OR BE PERMITTED TO HEAR THE BOARDS DISCUSSION OF THE MATTER EXCEPT TO DISCLOSE MATERIAL FACTS AND TO RESPOND TO QUESTIONS. FORM 990, PAGE 6, PART VI, LINE 15A THE COMPENSATION PROCESS FOR THE DIRECTOR IS REVIEWED AND APPROVED BY THE EXECUTIVE AND PERSONNEL COMMITTEES. FORM 990, PAGE 6, PART VI, LINE 15B COMPENSATION FOR KEY EMPLOYEES ARE DETERMINED BY THE DIRECTOR BASED UPON AN ANNUAL RAISE GUIDELINE PROVIDED BY THE EXECUTIVE AND PERSONNEL COMMITTEES. FORM 990, PAGE 6, PART VI, LINE 19 DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9 GAAP REQ TO NET INVMT EXPENSE WITH INVMT INCOME -18,043 GAAP REQ TO NET INVMT EXPENSE WITH INVMT INCOME 18,043