Idaho Learning Center

“The executive director reviews the tax return before it is filed and provides access to copies to the board of trustees. The executive director also leads a discussion at the next board meeting covering in detail information reported on the tax return.”

“To ensure that conflicts of interest do not exist, members of the board disclose new activities verbally to other board members at regular board meetings. Any concerns arising would also be discussed at board meetings. These discussions are documented in board minutes. The executive director is responsible for oversight to ensure no conflicts of interest arise, and to document any such conflicts and how they were resolved.”

“The board of directors determines any salary and benefits paid to the executive director, using comparison data to similar local organization's salary and benefit schedule.”

“Form 1023, forms 990, governing documents, conflict of interest policy, and financial reports are maintained at the organization's place of business. These documents are made available to members of the public upon request.”

“Educational therapy: program service expenses 137,650. Management and general expenses 0. Fundraising expenses 0. Total expenses 137,650. Test administration: program service expenses 15,257. Management and general expenses 0. Fundraising expenses 0. Total expenses 15,257. It: program service expenses 0. Management and general expenses 220. Fundraising expenses 0. Total expenses 220.”

“Return amended to accrue receivable for employee retention credit. List of changes as follows: form 990, part i, line 15: wage expense decrease of $68,455 for employee retention credit. Form 990, part i, line 20: asset increase of $89,870 for employee retention credit receivable for current and prior year. Form 990, part iii, line 4b: program service expense decrease of $42,595 for employee retention credit allocable to program wages. Form 990, part ix, line 5: officer wage decrease of $14,000 for employee retention credit allocable to officer wages. Form 990, part ix, line 7: other wage decrease of $54,455 for employee retention credit allocable to other wages. Form 990, part x, line 4: accounts receivable increase of $89,870 for employee retention credit receivable for current and prior year. Form 990, part x, line 16: total assets increase of $89,870 for employee retention credit receivable for current and prior year. Form 990, part x, line 32 & 33: net assets and total liabilities and net assets increase of $89,870 for employee retention credit receivable. Form 990, part xi, line 2: expense decrease of $68,455 for employee retention credit. Form 990, part xi, line 4: net assets increase of $21,415 for effect of amendment to 2019 return. Form 990, part xi, line 10: net assets increase of $89,870 for employee retention credit receivable.”