The Wilbur Marvin Foundation

“The board of directors of baton rouge area foundation appoints 100% of the board members of the wilbur marvin foundation.”

“After preparation by kpmg llp, management reviews the form 990. Prior to filing the form 990, each board member and officer is given the form 990 including required schedules for review and comments.”

“Annually, each director and officer completes a conflict of interest questionnaire which is reviewed by the general counsel and any conflicts are disclosed to the full board. If a potential conflict arises during the year, the situation is reviewed by the ceo, board chair and general counsel. With any conflict, the conflicted director is excused from the related board vote.”

“The organization makes the form 990 available upon request. The organization does not make its governing documents, conflict of interest policy or financial statements available to the public.”

“A related organization pays the officers of the foundation. In determining the officers' compensation, the related organization does have a process that includes a review and approval by independent persons, the use of comparability data, and the contemporaneous substantiation of the deliberation and decision.”

“Book/tax difference in income from equity investees -6,547,352.”

“Section 1.263(a)-3(n) election - book conformity election the wilbur marvin foundation is making the election under treas. Reg. 1.263(a)-3(n) to capitalize those repair and maintenance costs that it treats as capital improvements on its books and records for the tax year ended december 31, 2024. Section 1.263(a)-1(f) - de minimis safe harbor election the wilbur marvin foundation hereby makes the de minimis safe harbor election under section 1.263(a)-1(f) of the treasury regulations, effective only for the tax year ending december 31, 2024. Taxpayer has an applicable financial statement for the year of the election. This election permits the taxpayer to deduct for tax purposes any item deducted under its book policy that does not exceed $5,000 per invoice (or per item, as substantiated by the invoice) or items having an economic useful life of twelve months or less as described in section 1.263(a)-1(f)(1)(i).”