Educational Developers Inc.

“The organization has members who may elect one or more members of the governing body. Any decisions of the governing body are subject to approval by members. Form 990 is reviewed by board members. The organization's governing documents, policies and financial statements are not made available to the public.”

“The organization has no employees and is served by volunteer board of directors and officers”

“Part VI, Section A. Question 5. On or around February 2009, Educational Developers Inc, (the "Organization") became aware of a significant diversion of cash from its bank account. The Organization found out of this diversion when authorized officers of the Organization attempted to make routine payments and they could not do that, because the bank account had no funds. It is estimated that this unauthorized cash diversion was of about 2 million dollars. When contacted about the bank account's shortage, the Organization's bank (the "Bank") conducted a thorough investigation. The results of the investigation indicated that the Organization's bank account had been electronically hacked and the money diverted without the knowledge or acquiescence of the Bank or the Organization. The Bank was able to track and recover approximately 1.5 million dollars, but the remaining US $432,253 remained unrecovered. The diversion of the Organization's cash originated a dispute with the Bank through which the Organization attempted to recover from the Bank the remaining unrecovered cash. The dispute lasted a few years, during which years the amount in dispute remained in the Organization's books as a receivable from the Bank. After exhausting all resources, the Organization's Board finally determined that the remaining diverted amount was uncollectable. Consistent with this determination, the Board instructed the Organization's accountants that the books of the organization should reflect the loss in 2014.”

“The organization owns the following three corporations: 1) proyekta, llc 2) eduexperts, llc 3) d'brains, inc these three corporations filed forms 5471 on behalf of educational developers, inc as follows: 1)proyekta, llc - creaciones web, s de r.l. - aula 24 horas mexico, s.a. De c.v. - asesorias y servicios aula 24 horas chile, ltda - aula 24 horas chile, s.a. De c.v. 2) eduexperts, llc - eduexperts, s de r.l. 3) d'brains, inc -sistema de aprendizaje integral anahuac, s.c. -interfame, s.a. De c.v. -centro de educacion profesional y empresarial, s.c. -franquicias educativas, s.a. De c.v. -universidad del tercer milenio, s.c. -desarrollos inmobiliarios unidos, s.a. De c.v.”