Aaa Scholarship Foundation Inc.

“A draft of the form 990 is emailed to each director, who is asked to reply with his/her approval within a specified time period.”

“A conflict of interest statement is signed annually by officers, directors and key employees.”

“The ceos salary is approved by the board of directors. Aaa purchases the guidestar compensation survey each year to use for comparability when determining top management official's salary.”

“Other officers and key employees salaries are determined by the ceo. Aaa purchases the guidestar compensation survey each year to use for comparability when determining top management official's salaries.”

“Minnesota, north carolina, new jersey, new york, ohio, oklahoma, oregon, pennsylvania, south carolina, tennessee, utah, virginia, washington, wisconsin”

“Governing documents are available on the georgia department of corporations website and upon request.”

“The aaa scholarship foundation, inc. ("aaa") is a georgia not-for-profit organization incorporated march 26, 2010 with the mission of ensuring economically-disadvantaged families have equal access to the customized learning options they need to effectively educate their children. In may 2014, our mission was expanded to include families of children with disabilities. During the 2018-19 fiscal year, aaa was an approved scholarship organization (so) in georgia, arizona, florida, and nevada. As an so, aaa may receive re-directed state taxes from individual and corporate taxpayers. These re-directed funds are then distributed to eligible students in the form of scholarships (up to grade 12) so they may access the educational environments that best fit their learning needs. Aaa understands that families fighting generational poverty see education as the surest means to upward mobility. Aaa scholarships help support the individual efforts of these families by removing many of the financial barriers these parents face as they seek the best educational settings for their children.”

“During the fiscal year ended june 30, 2019, aaa had various changes in its accounting method in order to comply with asc 958. Pursuant to notice 96- 30, 1996-1 c.b. 378, a section 501(c) organization is allowed an exception to filing form 3115 when it changes its accounting method to comply with the financial accounting standards board (fasb) accounting standards codification 958, not-for-profit entities (asc 958). In particular, asc 958-605 requires a recipient organization that accepts cash or other financial assets from a donor and agrees to use those assets on behalf of or transfer those assets, the return on investment of those assets, or both to a specified unaffiliated beneficiary to recognize the fair value of those assets as a liability to the specified beneficiary concurrent with recognition of the assets received from the donor. Implementation of asc 958-605 had the following impact on aaa's reported revenues, expenses, and net assets related to the gardiner scholarship program due to its agency-type structure: 1) government grant revenue is no longer reported for the gardiner program scholarship funds, 2) interest earned on those same program funds is no longer recorded as investment income, 3) scholarships awarded under the program are no longer reported in grants and other assistance to domestic individuals, and 4) a section 481(a) adjustment of 16,121 to net assets with donor restrictions to offset duplication of interest received on program funds. Subsequent to implementation, when a grant is received for, or interest is earned on, the gardiner scholarship program, only aaa's corresponding liability and asset accounts will be affected.”

“Book / tax depreciation difference 6,948”