| Form 990-EZ, Header, Line B |
LETTER OF EXPLANATION AND REASONABLE CAUSE Dear Sir/Madam, On Dec 31, 2022, we have received IRS letter regarding our tax return for year 2020. The letter was dated Feb 18, 2022 and delivered to our old address "71 Payson Road, #2, Belmont, MA, 02478" , with which we no longer are associated, which caused huge delay in us receiving it. In fact, we may have never received this letter. We immediately called IRS on Jan 3, 2023 and thus wrote this letter of reasonable cause and would request for forgiveness of any delay in time and any missing information that is required. 1.Your letter specified that our Schedule A on Form 990EZ, public charity status and public support, Part III, support schedule for organizations described in section 509(a)(2) is missing. We just found out that that was an error in printing which made the information on that required section filled into another section in the other page which is not required. We just e-filed the corrected version of 990EZ again through the FORM990ONLINE e-filing system and also mailed you the printed forms with corrected information with this letter. 2.We also respectfully request that you reconsider and/or remove any potential or existing penalties regarding this matter. As explained above, we already changed our address to "1168 Mass Ave, Cambridge, MA, 02138" in July 2021, and no longer associated with the old address. Your notice mailed to the old address have caused huge delay and almost no possibility of us receiving the letter to make timely actions. Since the forming of our organization in 2013, we have been strictly in compliance with any regulations and rules and deadlines in the past 10 years. We hope that you give us this opportunity to make corrections and we garantee that this will never happen again in the future. Truthfully, Lin Yang President, Innovation Ideas Institute Jan 3, 2023 |
| Form 990-EZ, Part I, Line 8 |
misc revenue from rentals |
| Form 990-EZ, Part I, Line 16 |
Fuel $508 ; Tolls $250 ; Business Travel $3390 ; Meals $869 ; Marketing $2650; Total: 7667 |
| Form 990-EZ, Part I, Line 20 |
The organization received PPP loans of $12206 and EIDL loan of $40700 in 2020 which will start to pay back in 2023; Information regarding personally benefits contracts: The organization did not, during the year, receive any funds, directly or indirectly to pay premiums on a personal benefit contract. The organization did not, during the year, pay any premiums, directly or indirectly, on a personal benefit contract |
| Form 990-EZ, Part II, Line 24 |
The organization did not, during the year, receive any funds, directly or indirectly to pay premiums on a personal benefit contract. The organization did not, during the year, pay any premiums, directly or indirectly, on a personal benefit contract |
| Form 990-EZ, Part II, Line 26 |
The organization received SBA Loan in total of $52906 |
Attach to Form 990 or 990-EZ.