David & Dovetta Wilson Scholarship Fund

“The completed Form 990 was reviewed by the Board of Directors prior to filing. The board examined the financial information for accuracy and completeness, and approved the return before submission to the IRS”

“Governance and Internal Controls - The board of directors reviews financial statements regularly and oversees compliance with public support requirements. The organization maintains internal controls over contributions, including donor tracking, deposit verification, and reconciliation procedures. Corrections to historical reconciliation discrepancies were administrative in nature and did not affect current year revenue, expenses, or net assets. All contributions reported on Schedule A are supported by bank records, donor acknowledgments, and accounting system entries.”

“The organization will make its governing documents, conflict of interest policy, and financial statements available to the public upon written request.”

“Nature of Contributions - All contributions received during the tax year were monetary. The organization did not receive noncash property, securities, or in kind donations requiring valuation or special reporting. No quid pro quo contributions were received, and no goods or services were provided to donors in exchange for contributions. The organization does not maintain donor restricted endowments or quasi endowments. All contributions were unrestricted and available to support the organization's exempt purpose. Schedule A - Fundraising and Community Support - The organization conducts broad based fundraising through small dollar individual contributions, community events, and online giving platforms. No professional fundraisers or fundraising counsel were engaged during the year. Fundraising activities were carried out by volunteers, board members, and community supporters. All fundraising revenue is reported in accordance with IRS requirements. The organization did not conduct gaming activities, raffles, or events requiring Schedule G, Part III reporting.”

“Schedule A, Part III - Public Support Explanation The organization qualifies as a publicly supported organization under section 509(a)(2). Over the applicable computation period, substantially all support has consisted of contributions from the general public and related program revenues. Investment income and other nonpublic support remained well below the 33 and one third percent limitation. The organization did not receive support from donor advised funds, supporting organizations, or related parties during the tax year. All contributions reported on Schedule A are supported by bank records, donor acknowledgments, and accounting system entries.”

“The David & Dovetta Wilson Scholarship Fund provides renewable scholarship awards to graduating high school seniors who demonstrate academic promise, community involvement, and financial need. Scholarships are awarded annually and may be renewed for up to four years, subject to continued enrollment and satisfactory academic progress. During the tax year, the Fund awarded scholarships to nine students pursuing post-secondary education. In addition to annual scholarship awards, the Fund provided supplemental and incentive-based distributions to eligible recipients, including extended awards to prior-year scholars. The scholarship program is administered pursuant to written eligibility and selection criteria and overseen by the Board of Directors to ensure alignment with the Fund's charitable mission.”

“Program Service Alignment All contributions support the organization's exempt purpose of providing renewable undergraduate scholarships and related educational support. No funds were used for lobbying, political activity, or non charitable purposes.”

“Expenses are allocated among program services, management and general, and fundraising based on a reasonable estimate of the time and resources devoted to each function. Program expenses include direct scholarship awards and costs associated with administering and monitoring the scholarship program. Management and general expenses include governance, insurance, financial oversight, and general administrative costs. Fundraising expenses include costs directly related to donor outreach, fundraising events, and promotional activities.”

“During the fiscal year, the organization identified and corrected historical reconciliation discrepancies from prior periods (specifically FY2021). These corrections involved the removal of a deleted transaction from the reconciliation history and the restoration of accurate register balances. These adjustments did not affect the current year's revenue, expenses, net assets, or the financial statements included in this Form 990. All corrections were administrative in nature and did not involve donor funds or program expenditures.”