Kaleidoscope Foundation Inc

“The board of directors must review and approve the 990 prior to filing. The drafted 990 is emailed to all board members prior to filing and members are asked to review and vote to accept or reject the return.”

“Board members are required to disclose conflicts of interest and abstain from discussion and voting on matters involving a conflict. The Organization records in its minutes votes abstained due to conflicts.”

“Governing documents including organizational documents and tax returns are available for public inspection upon written request to Pine Lake Preparatory.”

“Kaleidoscope Foundation received four gifts of stock from donors. The shares were immediately liquidated and converted to cash equivalents per Kaleidoscope Foundation policy.”

“Pine Lake Preparatory provided three employees to assist with Kaleidoscope Foundation activities. Two of these employees also served as voting members of the Board of Directors fo the Kaleidoscope Foundation.”

“Form 990 is available on guidestar.org for public inspection.”

“Kaleidoscope Foundation paid two consulting firms to assist with and provide guidance to the board regarding feasibility for a new capital campaign and information and coaching for starting a campaign. The consultants performed no solicitations and worked for a flat engagement fee. All Capital contributions and campaign pledges were made directly to Pine Lake Preparatory.”

“By a majority vote of the board of directors on January 27, 2015, it was voted to dissolve the foundation and contribute all assets for the benefit of Pine Lake Preparatory. Operations of the Foundation would run through June 30, 2015, with spin down occurring by December 31, 2015. The final contribution to Pine Lake Preparatory occurred on December 31, 2015.”

“As part of the Foundations Circle of Pride Annual Fund, Pine Lake Preparatory students are asked to donate to the Foundation. Students/contributors may donate funds to the campaign. Students receive prizes in exchange for contributions. Prizes ranging from nominal amount values key chains and stickers to valuable prizes gift cards and electronics may be awarded. Donors are given the option to decline their prizes if awarded, donors are notified in an annual tax letter to acknowledge their contributions and the value of any quid pro quo awards they may have received.”