Cambridge Assessment Inc

“The organization has one member. The member is the chancellor, masters and scholars of the university of cambridge, a corporation established by prescription under english common law and confirmed by act of parliament.”

“As in bylaws section 2.8, nominations of persons for election to the board of directors of the corporation may be made at a meeting of members by or at the direction of the board of directors,by any nominating committee or person appointed by the board of directors or by any member of the corporation entitled to vote for the election of directors at the meeting.”

“The member of the corporation has the right to vote on any amendment to the certificate of incorporation; the adoption, amenedment, or repeal of the bylaws; and the dissolution of the corporation.”

“The form 990 is prepared by an independent public accounting firm with the assistance of the organization's staff. The tax return is reviewed by the finance director, one of the members of the governing body, and its team before filing.”

“The organization regularly and consistently monitors the conflict of interest policy. Directors are required to disclose any outside interests through the annual reporting requirement.”

“Governing documents, conflict of interest policy, and financial statements are available upon request.”

“The taxpayer hereby makes the de minimis safe harbor elections under treas. Reg. 1.263(a)-1(f) for all eligible amounts paid or incurred during the taxable year.”

“Treas. Reg. 1.263(a)-3(n). The costs were incurred during the taxable year in the electing taxpayer's trade or business and the electing taxpayer treats such costs as capital expenditures on its books and records.”