Marble Freedom Trust

“The Trustee has primary authority to manage and make decisions on behalf of the Trust. The Administrative Trustee has responsibility over certain administrative matters, such as maintaining records, preparing tax returns and financial statements, and administering certain assets in the trust's local jurisdiction. The Successor Trustee exercises the power of the Trustee in certain situations where the Trustee would have a conflict of interest or in the absence or inability of the Trustee to act.”

“Leonard Leo and Jonathan Bunch have a business relationship.”

“The trust agreement was amended to change who has power to remove or replace the Trustee. See explanation for lines 7a and 7b.”

“A donor had the right to remove an existing trustee and appoint a new one, but the Trust Agreement was amended to eliminate that right. Under the trust agreement, a designated individual has power to sue to enforce the Trust and to approve a request by the Successor Trustee to remove the Trustee.”

“A donor had the right to remove an existing trustee and appoint a new one, but the Trust Agreement was amended to eliminate that right. Under the trust agreement, a designated individual has power to sue to enforce the Trust and to approve a request by the Successor Trustee to remove the Trustee.”

“Form 990, Part VI, Section B, Line 11b: The Form 990 is prepared by an Independent Contractor and it is reviewed by legal counsel and the Trustee prior to filing with Internal Revenue Service (IRS).”

“Part VI Section B. 12c: Officers and Trustees are subject to conflict of interest provisions in the trust agreement and work with counsel to comply.”

“Form 990, Part VI, Section C, Line 19: Governing and financial documents are not available to the public.”

“Part I box G, Part VIII line 7, and Schedules N and R: The organization received by gift and then sold 100% of the stock in a privately held company. It has withheld identifying information about that "Donated Company" where disclosing it would effectively disclose the identity of its donors, pursuant to instructions on Schedule B that allow withholding of similar details when necessary to preserve donor confidentiality. The gift was liquidated before the end of the filing year. Because the company was donated at an estimated value of $1,603,696,262, and then sold for the same price, the organization's gross receipts are artificially inflated, because the value of the gift and the proceeds from its sale are both counted.”

“The organization had 0 employees in 2020; they added employees in April 2021, so 0 employees were reported on form W-3 for 2020 (the calendar year ending with or within the year covered by this return).”

“In accordance with the guidance in Notice 88-120, the organization was not required to provide express statements, and did not provide such statements, before it reached the threshold of having gross receipts normally greater than $100,000.”