STEM for Life Foundation

“The form 990 is reviewed by the board and officers of the organization before it is filed with the irs.”

“In connection with any actual or possible conflict of interest, an interested person must disclose the existence of the financial interest and be given the opportunity to disclose all material facts to the trustess and members of committees with board delegated powers considering the proposed transaction or arrangement.”

“The governing documents, conflict of interest policy, and financial statements are available to the public upon request.”

“The organization is amending its form 990 to prepare form 5471 that was inadvertently left off original return. The following part of the tax return were affected by the adjustment: 5471 - return of us person with respect to certain foreign corporations”

“Consulting fees: program service expenses 2,465,595. Management and general expenses 88,408. Fundraising expenses 11,800. Total expenses 2,565,803. Contract services: program service expenses 20,883. Management and general expenses 2,056. Fundraising expenses 0. Total expenses 22,939. Recruiting services: program service expenses 0. Management and general expenses 1,364. Fundraising expenses 0. Total expenses 1,364.”

“Foreign currency translation loss -14,554.”

“Cura foundation is not under a civil examination or a criminal investigation by the irs. Cura founation has not already been contacted by the irs about delinquent information returns. Cura foundation certifies that it was not engaged in tax evasion. Cura foundation has reasonable cause for its inadvertent failure to file irs form 5471. Due to a miscommunication between the paid tax preparer and cura foundation, the foreign corporation was inadvertently not identified as a foreign corporation and thus form 5471 was inadvertently missed. As soon as the paid tax preparer became aware that the entity was classified as a foreign corporation for purposes of us informational reporting, steps were taken to prepare and file the delinquent international return pursuant to the irs delinquent international information return submission procedures.”