Mmac Community Support Foundation Inc.

“It is sent to the board of directors when available.”

“Board members are required to disclose any conflicts of interest when they arise.”

“UPON REQUEST”

“The return is being amended due to the restatement of the audited financial statements for the fiscal year ending 6/30/2023. The agreement between foundation and the 170 freedom milwaukee 2024 host committee, inc. ("rnc host committee") expired when the rnc host committee received its irs determination letter on march 17, 2023. Foundation continued operating as though the agreement was in force, however it recorded the rnc host committee's contributions and distributions on its balance sheet as "pass through" items. In september 2024, the rnc host committee informed foundation that it was continuing to record contributions from foundation as they were prior to march 17, 2023. The foundation agreed to continue recording rnc host committee contributions as revenue and distributions as expenses on its income statement. Accordingly, the foundation restated its results for the affected year, resulting in an increase in net assets with donor restrictions of $18,249,496. The changes made to the 990 are noted below: part i: - line 8 contributions and grants increased by $8,375,032 - line 17 other expenses decreased by $9,874,464 - line 21 total liabilities decreased by $18,249,496 - line 22 net assets increased by $18,249,496 part iii line 4c: the total program expenses allocated to the rnc host committee program decreased by $9,874,464 due to the restated change. Part iv line 29: yes, schedule m does need to be filed because of the $2,018,512 worth of stock donations received as part of the restatement. Part viii lines 1f and 12: total contributions increased by $8,375,032 due to the restated change. Because total contributions increased, so did total revenue. Part ix lines 24a and 25: rnc host committee expenses decreased by $9,874,464 due to the changes made in the restated audited financial statements. Since this expense decreased, so did total program expenses and total expenses on line 25. Part x lines 3, 4, 21 and 28: the balance sheet was amended to reflect the changes made in the restated audited financial statements. The original balance in accounts receivable was determined to be promises to give which has been adjusted by decreasing line 4 by $25,000 and increasing line 3 by $25,000. The escrow or custodial account liability balance on line 21 decreased by $9,874,464 due to the restated change. The balance on line 21 reflects the balance held as a fiscal agent for one organization. Total net assets on line 28 increased by $9,874,464 due to the increase in net income due to the restated change in funds held for the rnc. Part xi lines 1, 2, 3, and 10: the reconciliation of net assets section changed due to the changes noted in the restated audited financial statements and those changes are reflected in parts viii, ix, and x. Schedule a part ii section a lines 1, 5 and 6: since total contributions increased by $8,375,032 from the restated financial statements, total contributions, donors in excess, and public support have been updated. Section b line 11 for total support has also been revised. Schedule b part i and ii: after the change in contributions increased, there were a couple of donors who met the adjusted threshold for being reported. One donor's donation increased by $5,000,000 and another met the filing threshold with a $2,018,512 non-cash donation due to the additional contributions from the restatement. Schedule d part iv line 2b: the supplemental statement for acting as a fiscal agent has been updated due to the restatement mentioned above. Schedule m part i line 9: after the restatement of contributions, stock donations totaling $2,018,512.”

“Rnc host committee - the foundation worked with mke 2024 host committee in receiving donations towards the republican national convention to be held in milwaukee in 2024. Milwaukee 7 initiative of metropolitan milwaukee area of commerce and milwaukee development corporation to create a regional cooperative economic development platform for the seven counties of southeastern wisconsin. Cosbe education initiative connects business members to k-12 students in the region. Feeding frontline workers”

“The process has not changed from prior years.”