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        <Explanation>IN JULY 2006, THE FASB ISSUED FASB INTERPRETATION NO. 48, "ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES - AN INTERPRETATION OF FASB STATEMENT NO. 109" (FIN 48). FIN 48 ESTABLISHES FINANCIAL ACCOUNTING AND DISCLOSURE REQUIREMENTS FOR THE RECOGNITION AND MEASUREMENT OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN. IN DECEMBER 2008, THE FASB RELEASED STAFF POSITION NO. 48-3, "EFFECTIVE DATE OF FASB INTERPRETATION NO. 48 FOR CERTAIN NONPUBLIC ENTERPRISES" ("FSB FIN 48-3"), WHICH DEFERS THE EFFECTIVE DATE OF FIN 48 TO FISCAL YEARS BEGINNING AFTER DECEMBER 15, 2008. MANAGEMENT HAS ELECTED TO DEFER THE APPLICATION OF FIN 48, IN ACCORDANCE WITH FSP FIN 48-3. THE ORGANIZATION WILL CONTINUE TO FOLLOW FASB STATEMENT NO. 5, "ACCOUNTING FOR CONTINGENCIES"' UNTIL IT ADOPTS FIN 48.</Explanation>
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        <Explanation>THE BOARD OF DIRECTORS APPROVED A SUPPLEMENTAL EMPLOYEE RETIREMENT PLAN WHICH PROVIDED DEFERRED COMPENSATION OF APPROXIMATELY FORTY PERCENT TO ONE EMPLOYEE'S COMPENSATION AT RETIREMENT DATE. THE ORGANIZATION'S PENSION CONSULTANT HAS DETERMINED THAT 471,870 WAS REQUIRED TO BE PAID.</Explanation>
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