Springwell School Inc.

“Entity president daniel oliver and entity treasurer head of school gloria chan are married to each other.”

“A copy of form 990 was provided to the organizations governing body before it was filed. The governing body members were given 15-days to provide notice to the president should any item included in the draft form 990 be inaccurate. Should there be any revisions needed to the draft form 990 the governing body members were given 15-days to provide notice to the president should any item included in the revised draft form 990 be inaccurate. Once all concerns of the governing body members be satisfied the form 990 is approved for filing.”

“In accordance with the conflict of interest policy: - each voting member of the board shall annually sign a statement which declares whether such person is an independent director and whether such voting member has a financial interest - if ay any time during the year the information in the annual statement changes materially the director shall disclose such changes and revise the annual disclosure form - the board or the executive committee of the board shall regularly and consistently monitor and enforce compliance with this policy by reviewing annual statements and taking such actions as are necessary for effective oversight to ensure the corporation operates in a manner consistent with charitable purposes and does not engage in activities that could jeopardize its tax-exempt status periodic reviews shall be conducted. The periodic reviews shall at a minimum include the followin subjects: - whether compensation arrangements and benefits are reasonable based on competent survey information and the result of arms length bargaining and - whether partnerships joint ventures and arrangements with management organizations conform to the corporations written policies are properly recorded reflect reasonable investment or payments for goods and services further charitable purposes and do not result in inurement impermissible private benefit or an excess benefit transaction.”

“The springwell school inc has made all documents which should be available to the public available at the office of the school.”

“Faculty Consultants - $25,798; School Nurse and Counseling - $22,551; Janitorial & Cleaning - $13,270; FACTS Tuition Payment Platform - $1,000”

“| Description:, Explanation:, Amount:| Reconciling differences between cash and accrual accounting., Adjustment, $4891|”

“| Explanation:| A previous tax preparer filed Form 990 year ending Dec. 2023 incorrectly as they provided data for the Fiscal Year from September 1 2022 to August 31 2023. This data should have been reported on a 2022 Form 990. This 2022 Form 990 properly reports the financial data for that same fiscal period ensuring alignment with IRS reporting requirements and also corrects material errors in the previous filing. A separate 2023 Form 990 will be submitted to accurately report the following fiscal year September 1 2023 to August 31 2024. Material Changes & Corrections: This filing ensures accurate reporting classifications and functional expense allocations resulting in minor adjustments to total expenses and net assets while improving financial transparency. Here are the material changes and corrections when comparing the previously submitted 990 2023 to this 2022 Filing: Expense Reclassifications: Classroom Expenses $16,023 moved from Office Expenses to Other Expenses Part IX Line 24. Faculty Consultants $25,798 Janitorial Services $13,270 and School Nurse & Counselor Services $22,551 reclassified from Management Fees to Other Fees for Services Part IX Line 11g. Office Expenses corrected from $19,325 to $7,713 after proper categorization. Meetings Conventions and Conferences $4,411 removed due to misclassification. Virtual Assistant Expenses increased from $9,840 to $14,678 to account for a barter exchange now correctly categorized under Management Fees Part IX Line 11a. Board Member Compensation corrected -$2,620 and employer-funded benefits were updated including a retirement match $352 and health benefits $759. Revenue Adjustments: Program revenue itemized into tuition after-school programs and summer camp for consistency between revenue reporting and program descriptions. Balance Sheet Adjustments: Deferred revenue increased to $87,564 to reflect actual prepayments for the following fiscal year. Prepaid expenses zeroed out for proper cash basis reporting. Accounts payable adjusted to $19,880 to align with payroll clearing credit card balances and payables. Other Liabilities Loan from Officer & Payroll Clearing Account moved to proper classifications Line 22 & Line 17 respectively. Tuition receivables zeroed out after properly accounting for payments received and bad debt write-off $2,688. This filing ensures compliance with IRS reporting guidelines and aligns financial records with the correct fiscal year structure. These corrections provide a more accurate financial picture and ensure transparency in our nonprofit reporting.”