District 279 Foundation

“The form 990 is reviewed by the executive committee and then by the full board before it is filed.”

“The board of directors monitors the conflict of interest policy and discusses the importance of compliance with the policy at least annually at a board meeting.”

“The organization governing documents, conflict of interest policy and financial statements are made available to the public upon request.”

“The governing body provides oversight over the audit, financial reports and selection of the independent auditor. Form 990 is reviewed by the executive committee and then by the full board. This process has not changed from the prior year.”

“Related organization compensationthe foundation made an effort to obtain information regarding any compensation paid from a related organization. No such transactions noted per responses received. Part x line 2:district 279 foundation (the foundation) is exempt from taxation as a nonprofit corporation in accordance with code section 501(c)(3) of the internal revenue code (irc) and comparable state law while contributions to it are tax deductible within the limitations prescribed by the irc. Part x line 2:the foundation follows the recognition requirements for uncertain income tax positions as required by the financial accounting standards board accounting standards codification 740-10, income taxes. Income tax benefits are recognized for income tax positions taken or expected to be taken in a tax return, only when it is determined that the income tax position will more likely-than-not be sustained upon examination by taxing authorities. The foundation has analyzed tax positions taken for filing with the irs and state jurisdiction where it operates. The foundation believes that income tax filing positions will be sustained upon examination and does not anticipate any adjustments that would result in a material adverse effect on the foundations financial condition, results of operations or cash flows. Accordingly, the foundatilon has not recorded any reserves or related accruals for interest and penalties for uncertain income tax positions at june 30, 2023.the foundation is subject to routine audits by taxing jurisdictions; however, there are currently no audits in progress for any open tax periods. Form 990, part i, line 1 description of organization mission: district no. 279 (isd 279). In partnership with isd 279, the foundations vision is to provide learning opportunities for students in osseo area schools by funding programs, projects and other opportunities that are not presently available through the districts budget. The foundation is made up of compassionate community members who believe that there is a moral, social and economic imperative to support student success and equitable student achievement.”