Education Is Freedom Foundation

“There are no such committees.”

“Upon completion, a copy of the 990 is provided to both the Organizations Controller as well as the President and CEO. The 990 is then forwarded to the Chairman of the Board of Directors for review and approval prior to filing the return with the Internal Revenue Service.”

“Annual disclosure statements are not required. However what follows is an excerpt from the Organizations Conflict of Interest Policy:Persons Concerned: This statement is directed not only to Directors and Officers, but to all employees who can influence the actions of EIF. For example, this would include all who make purchasing decisions, all persons who might be described as Management Personnel, and anyone who has proprietary information concerning EIF.Disclossure Policy and Procedure: Transactions with parties with whom a conflicting interest exists may be undertaken only if all of the following are observed:1. The conflicting interest is fully disclosed.2. The person with the conflict of interest is excluded from the discussion and approval of such transaction”

“Compensation comparisons are usually completed on an annual basis with salary information provided by the Local Center for Non-Profit Management. Salary reviews are completed for the entire staff and are intended to be aligned with comparable positions in other Local Non-Profit and Government Agencies. The CEOs salary is also reviewed and approved by the Board Chairman.”

“EIF makes available its annual report, Form 990 and Audited Financial Statements on the Organizations Website. The governing documents and conflict of interest policy are available upon request. EIF makes available its annual report, Form 990 and Audited Financials on thee Organization Website. The governing doccuments aand conflict of interest policy are available upon request.”

“Upon completion, a copy of the 990 is provided to both the Organizations Controller as well as the President and CEO. The 990 is then forwarded to the Chairman of the Board of Directors for review and approval prior to filing the Return with the Internal Revenue Service.”

“The Organization qualifies for the Employee Retention Credit. Section 2301(a)of the CARES Act provides that a credit amount of qualified wages equals fifty percent per employee of the year. The qualified wages defined in section 2301(c)(5)(A) of the CARES Act were used to calculate a credit known as the employee retention credit. Wages paid from March 2020 thru July 31, 2020 as defined in Section 2301(e)reported in Part IX, Line 7 will be reduced by $212,752, the amount of the employee retention credit.”

“The Organization qualifies for the Employee Retention Credit. Section 2301(a)of the CARES Act provides that a credit amount of qualified wages equals fifty percent per employee of the year. The qualified wages defined in section 2301(c)(5)(A) of the CARES Act were used to calculate a credit known as the employee retention credit. Wages paid from August 1, 2020 thru June 30, 2021 as defined in Section 2301(e)reported in Part IX, Line 7 will be reduced by $189,017, the amount of the employee retention credit. As a result of the reduction in expenses in the amount of $189,017, Net Assets will also be impacted by the change.”