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        <ExplanationTxt>SFNYI IS EXEMPT FROM FEDERAL INCOME TAXES UNDER INTERNAL REVENUE CODE SECTION 501(C)(3). SFNYI HAS EVALUATED ITS CURRENT TAX POSITIONS AND HAS CONCLUDED THAT AS OF JULY 31, 2017, IT DOES NOT HAVE ANY SIGNIFICANT UNCERTAIN TAX POSITIONS FOR WHICH A RESERVE WOULD BE NECESSARY.</ExplanationTxt>
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        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION B, LINE 11B</FormAndLineReferenceDesc>
        <ExplanationTxt>THE STUDENTSFIRST NEW YORK INSTITUTE, INC. RETURN WAS PREPARED BY A PUBLIC ACCOUNTING FIRM AND THEN FORWARDED TO THE EXECUTIVE DIRECTOR FOR REVIEW. ANY REVISIONS ARE PROVIDED TO THE LICENSED CPA AND, ONCE REVISED, THE FINAL DRAFT IRS FORM 990 IS REVIEWED BY THE ORGANIZATION'S BOARD OF DIRECTORS PRIOR TO SUBMISSION AND FILING WITH THE INTERNAL REVENUE SERVICE.</ExplanationTxt>
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        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION B, LINE 12C</FormAndLineReferenceDesc>
        <ExplanationTxt>DIRECTORS AND OFFICERS ARE REQUIRED TO DISCLOSE ANNUALLY TO THE BOARD ANY FINANCIAL INTEREST WHICH THE DIRECTOR OR OFFICER DIRECTLY OR INDIRECTLY HAS IN ANY PERSON OR ENTITY WHICH IS A PARTY TO A TRANSACTION UNDER CONSIDERATION BY THE BOARD. THE INTERESTED DIRECTOR OR OFFICER SHALL ABSTAIN FROM VOTING ON THE TRANSACTION.</ExplanationTxt>
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        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION B, LINE 15</FormAndLineReferenceDesc>
        <ExplanationTxt>THE ORGANIZATION DID NOT COMPENSATE ANY OFFICERS OR EMPLOYEES. OFFICERS AND EMPLOYEES ARE DIRECTLY COMPENSATED BY A RELATED ORGANIZATION.</ExplanationTxt>
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        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION C, LINE 19</FormAndLineReferenceDesc>
        <ExplanationTxt>THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AVAILABLE AS REQUIRED BY LAW.</ExplanationTxt>
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        <FormAndLineReferenceDesc>FORM 990, PART XII, LINE 2C:</FormAndLineReferenceDesc>
        <ExplanationTxt>THE 2017 TAX RETURN IS THE INITIAL RETURN FOR SFNYI.</ExplanationTxt>
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</Return>