Mission Degree Inc

“Per diem rates paid for official travel to meetings in Opelika with the Board, President and VP January 3 to 4 2021 including mileage rates presented in Joint Travel Regulations for those who drove POVs, hotel costs as appropriate; Per Diem rates paid for official travel to meetings in Knoxville with the Chairman, President, VP, and IT staff member to meet with an executive and his assistant from Palm Springs, CA, to discuss a potential contract to support clientelle from their non-profit organization May 01 to 04 2021. This included a site visit to a Christian University in Kentucky by the group. This contract never materialized. In the absence of being able to generate revenue, the Board elected to close this nonprofit in Mid August, with the Chairman of the Board being the only creditor with loans to the organization affirming in writing in the Agreement to Dissolve that he will clear all remaining balances of the loans to effect closure. The only physical asset owned by this nonprofit, a Skyline Booth Display, was donated to another nonprofit.”

“The only creditor that this nonprofit had (aside from the PPP loan that was forgiven) was from the Chairman of the Board. In order to facilitate closure of this nonprofit, as part of the Articles of Dissolution, the Chairman agreed to forgive all indebtedness this nonprofit had with loans he had made in late 2020 and 2021. As such, the balance at the end of 2021 was $0 as all debt had been forgiven.”

“Loans were provided personally by the Chairman of the Board to cover salaries of employees and expenses while potential contracts were being negotiated. These contracts did not materialize, making it impossible to repay the loans. The Chairman graciously agreed to forgive the loans to facilitate closure of this nonprofit.”