Twenty Inc

“A copy of the Form 990 was provided to the board of directors for review and comment prior to filing.”

“Upon election, engagement, or hiring, and on an annual basis thereafter, directors, officers, and employees are required to sign the organization's written conflict of interest policy certifying understanding of his/her duties to fully dislcose any conflicts of interest and compliance with the policy.”

“It is the organization's policy that compensation of any director, officer, or key employee exceeding a certain amount requires a compensation survey detailing relevant comparability data prior to review and written resolution by a disinterested board approving the decision.”

“It is the organization's policy that compensation of any director, officer, or key employee exceeding a certain amount requires a compensation survey detailing relevant comparability data prior to review and written resolution by a disinterested board approving the decision.”

“Other organizational documents are made available to the public upon request.”

“The organization inadvertently reported cash method of accounting rather than accrual on its initial 2019 Form 990 in which the organization was in existence for less than one month. The change to accrual on this current return neither impacts the calculation of taxable income nor the timing of when revenue or expenses are reported in either years. As such, it is not considered a change in method of accounting as no method of accounting was previously adopted per Rev. Proc. 2015-13, 2015-5 I.R.B. 419.”

“Contributions of $500,000 and $3,000,000 in 2019 and 2020, respectively, are excludible as unusual grants pursuant to Treasury Regulation Section 1.509(a)-3(c)(3) as grants drived from the same granting instrument, the terms of which required the grant funds to be paid to the recipient organization over a period of years. The organization inadvertently included the $500,000 amount on its 2019 Form 990, Schedule A, Part II, Line 1, which has been corrected on the present Schedule A to reflect $0 after the exclusion of unusual grants. The organization is reporting $1 for the current year to resolve an e-filing limitation. The correct amount should be $0 after the exclusion of unusual grants.”