Jones Academy Foundation

“At regularly held board meeting, board reviews a draft of the federal form 990. Once approved, the 990 is then processed for filing.”

“Governing documents, policies, and audited financial statements are available to the public upon request.”

“Client Note 1 - Purpose for EndowmentJones Academy FoundationThe Choctaw Nation, where Jones Academy Foundation is housed and supported, is working on a 100 year vision. Jones Academy is a legacy school of the Choctaw Nation and is therefore part of that vision.At the present time, things are going well for the Choctaw Nation. Leadership includes a Chief, Assistant Chief, and Tribal Council who care a great deal about the people they serve and place a high priority on education. Gaming brings in a steady cash flow. This means the Tribe itself is currently able to meet most of the needs of Jones Academy.The Chief of the Choctaw Nation is an elected official. We can't know the desires or priorities of a Chief who may serve 20, 30, or 100 years from now. Also, future gaming dollars could be lost due to competition or legislation, hampering funding for Jones.An endowment has been set up by Jones Academy Foundation (JAF) to ensure that the school will go on far into the future, regardless of economic or political downturn. The plan is to grow the endowment to sufficient size ($40 million) that the principal might never be touched and only the interest will be used to support the school. Currently, the Choctaw Nation matches donations from the public to the endowment dollar for dollar.The endowment is only one fund within JAF. Other funds, such as the scholarship fund, and librarian fund are distributed according to their guidelines each year, usually using 100% of those funds.There are also individuals who give directly to Jones Academy without going through the foundation. One of the board members gave every child at Jones a $50 gift certificate from Walmart this past Christmas. Another board member sent money directly to the school to be used for Christmas. Yet another board member drives to the school several times a year with a carload of books for the library and will read to the children and have them read to her. Other individuals donate their time, expertise, and resources to better the lives of the children at Jones Academy.To summarize, the endowment is being built in today's good times to be certain Jones Academy can go on even in future bad times.The Choctaw Nation Mission Statement: "To enhance the lives of all members through opportunities designed to develop healthy, successful and productive lifestyles." This is what we want for the children of the 29 tribes represented at Jones Academy.”

“Client Note 2 - JONES ACADEMY FOUNDATIONEIN: 26-0084734Attachment to 2010 Form 990 for Tax Year Ending September 30, 2011The following supplemental information is provided for the above-referenced Form 990:Jones Academy Foundation (the Foundation) for its tax year ending September 30,2011 (Form 990 for 2010), satisfied the requirements for public charity status under both IRC 170(b)(1)(A)(vi) and 509(a)(2) and on this Form 990, Schedule A, has marked line 7 as its public charity status. However, the Foundation is not amending prior Form 990s on which itmarked line 9 (or its counterpart) as to its public charity status even though it appears to have also qualified for 170(b)(1)(A) status for such prior tax years.The Foundations tax-exempt operations did not change in the tax year of this Form 990 from prior years, but its financial resources to accomplish such tax-exempt operations increased significantly due to its receipt of substantial contributory support during the tax year of this Form 990, a substantial part of which was received from the Choctaw Nation of Oklahoma (the Nation). The Foundations contributory support is detailed on Schedule B, Part 1 of the Form 990.In addition to the contributory support received by the Foundation as reflected on Schedule A, Part II, of the Form 990, the Foundation receives important accounting and administrative services provided without charge by the Nation. The amount of such no-charge service is not broken out by the Nation and for this reason such no-charge services are not included on line 3 of Part II of Schedule A. In future years if the amount of such no-charge services provided by the Nation are broken out, then these will be reported on line 3 (or its counterpart) of future Form 990s.The Nation is a governmental unit within the meaning of IRC 7871 and 170(c)(1) and for purposes of Schedule A, Part II, of the Form 990.”