Technet Foundation Inc.

Client Note 1

“Client Note 1 - Form 990, Schedule A, Part IV-AStatement with Respect to Public Support Testing and dissolution of the organization:Pursuant to Regulation 1.170A-9(E) (3) the organization normally receives a substantial part of its support directly or indirectly from the general public and it is actively engaged in the attraction of public support. The organization is publicly supported under the Facts and Circumstances Test as follows:(I)Ten percent-of-support limitation: The percentage of support normally received by the organization from contributions made by government units, from contributions made directly or indirectly by the general public, or from a combination of these sources equals at least 10 percent. (II)Attraction of public support: The organization is organized and operated to continuously attract new and additional public support. The board of directors maintains a continuous and bona fide program for solicitation of funds from the general public and surrounding community. The board and volunteers actively pursue public funds and corporate sponsorships in Santa Clara County. (III)Percentage of financial support: For the year ended December 31, 2015, public support normally received equaled 22.633%, which satisfies the ten percent requirement. (IV)Sources of support: The organization receives support from a large representative number of persons. It does not receive almost all of its support from the members of a single family. The organization has been in existence since 2010. The organization provides research and education dedicated to a better understanding of the innovation economy and those practices and policies that best promote and advance the nation's fastest growing economic sector, at home and abroad.(V)Representative governing body: The organization's board of directors is comprised of a diverse mixture of dedicated people from different industries and backgrounds. Such persons represent a broad cross-section of the views and interests of the community. The governing body does not comprise the personal and private interests of a limited number of donors. (VI)Availability of public services: The services and programs provided by the organization are available to the public on a continuous basis.”