Honored Foundation

“The form 990 is prepared by the organization's independent tax accountant, ernst & young u.s. Llp. The form 990 is then reviewed for accuracy and signed off on by honored foundation management. After sign off, the form 990 is provided to each board member for review prior to filing with the irs.”

“The foundation's board of directors annually reviews its conflict of interest policy and regularly monitors compliance with the policy. On an annual basis, interested persons, including officers and directors, must disclose the existence of financial interests with the foundation or any individual or entity in which the foundation engages with. If there is a suspected violation, the foundation board of directors will hold a hearing to determine the appropriate disciplinary and corrective action. The interested person(s) will not participate in the hearing while the determination of a conflict of interest is discussed and voted upon.”

“The process for determining compensation of HonorED's Executive Director involved a review and approval by an external Human Resources consulting firm that was engaged to assist with the hiring process as well as full Board review and approval.The average nonprofitExecutive Director salary in Washington, DC, has been considered to establish the compensation amount.”

“The foundation provides copies of its form 990 upon request. The governing documents and conflict of interest policy are also available upon request.”

“Consulting fees - Total Expense: 43935, Program Service Expense: 43935, Management and General Expenses: 0, Fundraising Expenses: 0; Writer fees - Total Expense: 17222, Program Service Expense: 17222, Management and General Expenses: 0, Fundraising Expenses: 0; Photographer fees - Total Expense: 6385, Program Service Expense: 6385, Management and General Expenses: 0, Fundraising Expenses: 0; Payroll processing fees - Total Expense: 4480, Program Service Expense: 0, Management and General Expenses: 4480, Fundraising Expenses: 0;”

“Honored foundation is amending its 2023 return to update schedule a, part ii, line 5 to remove the portion of contributions from a public charity that were erroneously included on the original filing.. As the update resulted in a public support percentage for 2023 of 33.58%, schedule a, box 16a has been checked to confirm that the 33 1/3% support test was met. Line 17a is no longer checked and the associated narrative in part vi has been removed as honored foundation is no longer relying on the 10% facts and circumstances test for 2023.”