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        <FormAndLineReferenceDesc>PART X, LINE 2:</FormAndLineReferenceDesc>
        <ExplanationTxt>THE ORGANIZATION EVALUATES THEIR UNCERTAIN TAX POSITIONS, IF ANY, ON A CONTINUAL BASIS THROUGH REVIEW OF THEIR POLICIES AND PROCEDURES, REVIEW OF THEIR REGULAR TAX FILINGS, AND DISCUSSIONS WITH OUTSIDE EXPERTS. AS OF DECEMBER 31, 2014 MANAGEMENT DOES NOT BELIEVE ANY UNCERTAIN TAX POSITIONS EXISTS.</ExplanationTxt>
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        <ExplanationTxt>THE FORM 990 IS PREPARED BY AN OUTSIDE ACCOUNTING FIRM AND IS REVIEWED BY PRESIDENT/CEO PRIOR TO BEING FILED. THE BOARD WILL REVIEW AT THE NEXT BOARD MEETING AFTER FILING.</ExplanationTxt>
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        <ExplanationTxt>DOWNTOWN PHOENIX, INC. HAS FORMALLY ADOPTED THE CONFLICT OF INTEREST POLICY OF DOWNTOWN PHOENIX PARTNERSHIP, INC., A RELATED ORGANIZATION. EACH DIRECTOR IS ASKED TO CAREFULLY REVIEW THE POLICY AND SIGN A STATEMENT ACKNOWLEDGING ITS EXISTENCE AND AGREEING TO BE BOUND BY ITS TERMS. ANY DIRECTOR, OFFICER OR EMPLOYEE OF THE DOWNTOWN PHOENIX PARTNERSHIP WHO HAS, OR WHOSE RELATIVE HAS, A SUBSTANTIAL INTEREST IN OR REPRESENTS A COMPANY OR ORGANIZATION THAT DIRECTLY BENEFITS FROM ANY CONTRACT, SALE, PURCHASE OR SERVICE TO THE DOWNTOWN PHOENIX PARTNERSHIP SHALL MAKE KNOWN THAT INTEREST IN ADVANCE IN THE OFFICIAL RECORDS OF THE DOWNTOWN PHOENIX PARTNERSHIP AND SHALL REFRAIN FROM VOTING UPON OR OTHERWISE PARTICIPATING IN SUCH TRANSACTION.</ExplanationTxt>
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        <ExplanationTxt>THE ORGANIZATION'S ARTICLES OF INCORPORATION, BY-LAWS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.</ExplanationTxt>
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