Aguila Inc.

“Aguila, inc. Has its form 990 prepared by an outside accounting firm and has established the following review process to ensure that the information reported is complete and accurate. After the form 990 has been prepared, it is reviewed by the plan administrator and financial consultant. When it is approved, the 990 is electronically filed with the internal revenue service.”

“Before the organization filed for bankruptcy, each director, officer, committee member, and employee was required to annually sign a disclosure statement that affirmed he or she received a copy of the conflict of interest policy and complied with the policy. The disclosure statement additionally required the identification of potential covered transactions. If the board or committee determined that a covered transaction would create a conflict of interest, the covered transaction would have been approved in advance by the board or committee, acting without the influence or participation of the covered person, in accordance with the following procedures: the covered person may not be present during any discussion of the covered transaction other than to answer questions. He or she furthermore may not vote on the covered transaction or be present when the vote is taken. The board or committee reviewed available information regarding the cost or benefit of comparable transactions or arrangements, if any, and may investigate whether the corporation should and is able to obtain with reasonable efforts a more advantageous transaction or arrangement that would not give rise to a conflict of interest. If a more advantageous transaction or arrangement is not reasonably possible under circumstances not producing a conflict of interest, the board or committee determined by a majority vote of the disinterested members whether the covered transaction is in the corporation's best interests, for its own benefit, and whether it is fair and reasonable. In conformity with that determination, the board or committee made its decision as to whether to enter into the covered transaction.”

“Compensation of officers and key employees of the organization was reviewed and was subject to approval by the board of directors.”

“Aguila, inc. Makes its form 990 available for public inspection as required under section 6104 of the internal revenue code. The return is also posted on guidestar.org and other similar types of websites. In addition, the conflict of interest policy, articles of incorporation and by-laws were also available upon written request or by calling the organization directly.”

“On october 15, 2021, aguila, inc. ("aguila") filed a chapter 11 petition in the united states bankruptcy court for the southern district of new york *case no. 21-11776 - mg). By order dated june 24, 2022 ("confirmation order"), the bankruptcy court confirmed the official committee of unsecured creditors' second amended plan of liquidation ("chapter 11 plan"). The chapter 11 plan went effective july 12, 2022. Pursuant to the confirmation order and chapter 11 plan, lori lapin jones, esq. Was appointed plan administrator. As of june 30, 2022, aguila ceased operations and as of august 31, 2022, aguila has no employees. The plan administrator is overseeing the winddown of the chapter 11 case which includes, but is not limited to, selling assets, collecting accounts receivable, reviewing claims, and making distributions to creditors. The plan administrator has been informed that in or about 2020 (prior to the filing of the chapter 11 case), the new york state attorney general ("nyag") executed a subpoena on aguila's offices and seized records as part of an investigation of aguila's then chief executive officer. The plan administrator is further informed that the nyag kept all of aguila's original records and returned records to aguila in electronic form. The information provided by the plan administrator is based on aguila's records available to the plan administrator. The plan administrator cannot attest to the accuracy or completeness of these records but has no reason to believe the records are not accurate.”

“Security services: program service expenses 1,356,359. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,356,359. Consulting services: program service expenses 5,541. Management and general expenses 138,811. Fundraising expenses 0. Total expenses 144,352. Payroll processing services: program service expenses 19,683. Management and general expenses 7,487. Fundraising expenses 0. Total expenses 27,170.”

“The plan administrator's appointment was effective in july 2022. All of the information reflected on the return preceded the plan administrator's appointment. Accordingly, she does not have first-hand knowledge of certain information in the return, but has no reason to believe that prior representations on the form 990's are incorrect.”