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        <ExplanationTxt>MANAGEMENT HAS EVALUATED THEIR INCOME TAX POSITIONS UNDER THE GUIDANCE INCLUDED IN ASC 740. BASED ON THEIR REVIEW, MANAGEMENT HAS NOT IDENTIFIED ANY MATERIAL UNCERTAIN TAX POSITIONS TO BE RECORDED OR DISCLOSED IN THE FINANCIAL STATEMENTS.</ExplanationTxt>
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      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Form 990, Part VI, Line 6 Classes of members or stockholders</FormAndLineReferenceDesc>
        <ExplanationTxt>DONNELLY COLLEGE, THE SUPPORTED ORGANIZATION, IS THE SOLE MEMBER.</ExplanationTxt>
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      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Form 990, Part VI, Line 7a Members or stockholders electing members of governing body</FormAndLineReferenceDesc>
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        <FormAndLineReferenceDesc>Form 990, Part VI, Line 7b Decisions requiring approval by members or stockholders</FormAndLineReferenceDesc>
        <ExplanationTxt>THE MEMBER MUST APPROVE THE FOLLOWING: 1. AMENDMENT OF THE ARTICLES OF INCORPORATION OF THE ORGANIZATION; 2. AMENDMENT OF THE BYLAWS OF THE ORGANIZATION; 3. ADOPTION AND AMENDMENT OF AN OFFICIAL MISSION STATEMENT, VISION STATEMENT AND OTHER STATEMENTS OF BASIC PRINCIPLES FOR THE ORGANIZATION; 4. THE SALE, TRANSFER, LEASE, EXCHANGE, OR OTHER DISPOSITION OF ANY REAL ESTATE AND ITS APPURTENANCES OWNED BY THE ORGANIZATION; 5. THE MERGER OR CONSOLIDATION OF THE ORGANIZATION WITH ANY OTHER CORPORATION OR ENTITY; 6. THE DISSOLUTION OF THE ORGANIZATION OR THE DISCONTINUANCE OF A SUBSTANTIAL PART OF ITS ACTIVITIES; AND 7. ESTABLISHING BORROWING PROCEDURES WHICH WILL GOVERN THE ORGANIZATION.</ExplanationTxt>
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      <SupplementalInformationDetail>
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        <ExplanationTxt>THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.</ExplanationTxt>
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