Houston Focus Academy Inc

“Board of Directors are issued a copy of the filing for review and comment. Addtional copies are available on demand in the office or via electronic transfer.”

“Board of Directors are required to disclose any potential conflicts of interest at or before quarterly board meetings. The conflicts are reviewed by the Board and considered for need to abstain from voting on related matters or additional reporting as needed.”

“Salaries and wage increases of 5% or more are voted on by the Board of Directors.”

“A copy of the 990 is available publicly via Candid. Form 990 along with all other financial disclosure are available upon request in our business office.”

“Policies and documents are posted on our website and/or available in our office.”

“During the fiscal year ending June 30, 2025, the Organization finalized an Offer in Compromise (OIC) with the Internal Revenue Service related to outstanding payroll tax liabilities originally assessed against the Organization. The IRS agreed to forgive a substantial portion of the liability, totaling over $1.2 million, including accrued penalties and interest. The Organization had not recorded penalties and interest on its books, as the OIC negotiation had been ongoing since 2020 and a partial settlement was anticipated. The remaining tax liability recorded on the books was reversed, and the resulting gain was recognized as "Gain on Debt Forgiveness" in the Statement of Activities for FY2025, in accordance with Generally Accepted Accounting Principles (GAAP). This gain is reported on Part VIII, Line 11e of Form 990. It represents a nonrecurring, one-time transaction and does not reflect revenue from exempt program services or any unrelated business activity. The forgiven amount is not subject to unrelated business income tax under IRC §501(c)(3).”

“Rounding”