Highscope Educational Research Foundation

“To provide long-term support for the organization”

“The organization's activities are generally tax-exempt pursuant to internal revenue code section 501(c)(3) and, accordingly, no income taxes are reported in these financial statements. Although the organization was granted an income tax exemption by the internal revenue service, such exemption does not apply to "unrelated business income." the organization has not been classified as a private foundation. The organization considers whether it has engaged in activities that jeopardize its current tax exempt status with the internal revenue service. Furthermore, the organization determines whether it has any unrelated business income, which may be subject to federal or state income taxes. The organization treats interest and penalties attributable to income taxes, and reflects any charges for such, to the extent they arise, as a component of its management and general expenses. The organization has evaluated its tax positions for the years 2016 through 2019, the years which remain subject to examination by major tax jurisdictions as of december 31, 2019. The organization concluded that there are no significant uncertain tax positions requiring recognition in the organization's financial statements. The organization does not expect the total amount of unrecognized tax benefits ("utb") (e.g. Tax deductions, exclusions, or credits claimed or expected to be claimed) to significantly change in the next twelve months. The organization does not have any amounts accrued for interest and penalties related to utb at december 31, 2019 or 2018, and it is not aware of any claims for such amounts by federal or state income tax authorities.”

“Rental expenses netted 88,748. Cogs netted 550,492. Miscellanous revenue reallocated -3,110. Change in beneficial interest 12,667.”

“Cost of goods sold 550,492. Rental expenses 88,748. Miscellanous revenue reallocated to expenses -3,110.”

“At the time of the 2018 tax filing, the audited financial statements were not completed. The amount of funds approved for other expenditures in the 2018 issued financial statements reported funds approved was $1630,530 less than what was reported on the 2018 form 990, schedule d. This adjustment has been included in the current year amount reported in schedule d, part v, line 1e .”