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DocuSign Envelope ID:220566FB-947D-468C-B639-17D506BDD642 <br /> a <br /> If your gross receipts each year are normally more than $5,000, <br /> you are required to file Form 990, Return of Organization Exempt <br /> From Income Tax, by the 15th day of the fifth month after the end <br /> of your annual accounting period. The law imposes a penalty of $10 <br /> a day, up to a maximum of $5,,000, for failure to file a return on time. <br /> You are not required to file Federal income tax returns unless <br /> you are subject to the tax on unrelated business inoome under section <br /> 511 of the Code. If you are subject to this tax, you must file an inoome <br /> tax return on Form 990-T. In this letter we are not determining whether <br /> any of your present or proposed activities are unrelated trade or <br /> business as defined in section 513 of the Code. <br /> You need an employer identification number even if you have no <br /> employees. If an employer identification number was not entered on <br /> your applioation, a number will be assigned to you and you will be <br /> advised of it. Please use that number on all returns you file and in <br /> all correspondence with the Internal Revenue Service. <br /> Please keep this determination letter in your permanent records. <br /> Sincerely, yours, <br /> *404-526-4516 pt Organization Specialist <br /> This determination Letter is issued with the understanding that the <br /> school. will, 9chedtile all classes determine and coUect fees for the <br /> olas.ses, and pay the instructors a sal a d not to exceed reasonable <br /> compensation for services performed. � <br /> 4 <br /> This ruling is based on evidence that you have a racially nondiscriminatory <br /> policy as to students. Revenue Procedure 75-50, IRB 1.975-49, page 46, <br /> sets forth guidelines and recordkeeping requirements f9r determining <br /> whether private schools have racially nondiscriminatory policies as to <br /> students. To insure your continued exemption, you should maintain <br /> records. to show that you are in compliance with all of the requirements <br /> of Revenue Procedure 75-50. <br /> This determination letter modifies our letter of September 77 1976 <br /> holding you exempt, under section 501N(3) to the.extent that it is <br /> inconsistent with this letter. <br /> Form L-179 (Rev. 8-731 <br />