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        <ExplanationTxt>ASSOCIATION OF ADMINISTRATORS IN ACADEMIC PEDIATRICS IS EXEMPT FROM FEDERAL, STATE AND LOCAL INCOME TAXES AS A NONPROFIT CORPORATION DESCRIBED UNDER INTERNAL REVENUE CODE SECTION 501(C)(6). THE ORGANIZATION FILES AN INFORMATIONAL RETURN IN THE U.S. FEDERAL JURISDICTION. INCOME FROM CERTAIN ACTIVITIES NOT DIRECTLY RELATED TO THE ORGANIZATION'S TAX-EXEMPT PURPOSE MAY BE SUBJECT TO TAXATION AS UNRELATED BUSINESS INCOME. MANAGEMENT HAS DETERMINED THAT THE ORGANIZATION HAS NO UNRELATED BUSINESS ACTIVITY FOR THE YEARS ENDED DECEMBER 31, 2025 AND 2024.</ExplanationTxt>
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