Silverleaf School

“Regarding line 11b, the return was prepared by an external tax professional shortly before the filing deadline. Due to time constraints, the board did not conduct a formal review prior to filing, though key leadership was kept informed. The organization intends to resume its regular review process in future years. Regarding line 19, documents are available upon request. The organization did not receive and requests for governing documents, conflict of interest, or financial statements during the year.”

“No review was or will be conducted.”

“No documents available to the public”

“Teacher contractor pay 39,852 0 0 intern stipend 1,500 0 0 total 41,352 0 0”

“Explanation for line 9: in july 2024, the current program director discovered a previously unknown paypal account associated with the organization, containing a balance of approximately 41,145.04 at the time. These funds had not been recorded in the organizations books or included in prior tax filings. Based on available information, the paypal account was intended to be linked to the organizations main bank account when the website was created in 2017; however, the connection was never completed. Upon discovery of the account, the program director convened a board meeting. In the weeks that followed, multiple board members, including those who served during the tax year in question, formally resigned. Organizational records were not promptly turned over by the former board chair, and legal counsel was engaged. Once access to historical records was obtained, the current board determined that the paypal activity represented unrecorded donations and other income accumulated over multiple years. By the time the account was deactivated in september 2024, the total balance had reached 45,336.34. The organization elected not to amend prior-year returns and instead recorded the entire amount as a one-time prior period adjustment to beginning net assets in the current fiscal year. Since then, the board has retained a bookkeeper and implemented stronger oversight and financial procedures to ensure continued compliance and accountability. The organization acknowledges that this return is being filed approximately two weeks after the extended due date and respectfully requests that the irs take into account the extraordinary circumstances and leadership transition when evaluating any potential late filing penalties.”

“Prior year expenses -5,748 adjustment to reconcile ending balance -19,806 total -25,554 during the year, the organization identified 5,748 in prior-year expenses and 45,336 in unreported paypal funds originating in prior periods. An additional 19,806 adjustment was made to reconcile the ending net asset balance to the organizations financial records. These changes reflect the best available information following a transition to formal bookkeeping.”