Etcf Support Foundation

“A draft copy of the Form 990 is reviewed by an officer. Questions or issues are discussed via conference call.”

“The directors must disclose any conflict of interest on an annual basis.”

“The Board conducts an annual review of compensation paid and comparable salaries.”

“Financial statements are made available on the Foundation's website. The Foundation's governing documents, conflict of interest policy, and financial statements are made available at the Foundation's office by request.”

“Etcf support foundation is governed by the policies of east texas communities foundation.”

“RECONCILIATION TO AUDITED CONSOLIDATED FINANCIAL STATEMENTSOn December 30, 2021, the Organization received a contribution of 24.5% partnership interest in Tyler Fusion Technologies LLC. While awaiting the appraisal to be completed, an estimated value of $1,250,000 was determined and recorded to the Organizations books. The appraisal value of $1,197,000 was provided to the Organization after completion and issuance of the audited consolidated financial statements, of which the Organization is included as a subsidiary. Due to materiality, the audited consolidated financial statements have not been adjusted. The Organization intends to report the decrease in value during 2022, which will adjust the asset to the appraisal value. However, since the appraisal value was available prior to filing the Form 990 for the 2021 tax year, the Organization felt it was more appropriate to report the contribution at the appraisal value. As a result, the Organization recognizes that there is a difference of $53,000 between the Form 990 return and audited financial statements with respect to the reported 2021 contributions and asset value relating to this partnership interest. This difference will be reconciled and cleared during the 2022 tax year.”