Great Plains Improvement Foundation Inc

“Prior to filing the Form 990 was made available to the organizations directors for review. The return was reviewed and approved in connection with the organizations dissolution procedures.”

“During the dissolution year, the organization continued to operate under its conflict-of-interest policy through the date of dissolution. No conflicts were identified relating to the distribution of assets or the winding-down of operations.”

“The amount reported in Schedule D Part VI as the beginning-of-year cost balance represents the historical book value of the organizations real property recorded at $820000. During the tax year as part of the organizations dissolution this property was transferred to a qualifying 501c3 organization. Accordingly the full cost balance was removed resulting in an ending balance of zero for land buildings and equipment.”

“During the tax year the organization ceased operations and completed its dissolution. As part of the dissolution process all remaining assets were liquidated or distributed to qualifying 501c3 organizations in accordance with the organizations governing documents and applicable state requirements. The organization no longer conducts any exempt activities.”

“Amounts reported on Part IX, lines 24a and 24b represent repayment of prior-period federal and state payroll tax liabilities, including penalties and interest. These liabilities related to periods before the dissolution year and were classified as Management and General expenses because they do not relate to current program activities.”

“The organization held real property with a beginning-of-year book value of $820,000. During the year, as part of its dissolution, this property was transferred to a qualifying 501(c)(3) organization. Accordingly, the property was removed from the balance sheet, resulting in an ending balance of zero on Part X, line 10a.”

“The amount reported on Part XI line 9 reflects the reduction of net assets resulting from the liquidation and distribution of the organizations remaining assets upon dissolution. During the year the organization distributed $300000 in cash and transferred property with a book value of $820000 to qualifying 501c3 organizations. These liquidation distributions reduced net assets to zero at year end.”