The Balam Foundation Inc

“All board members receive and review a copy of the draft 990”

“Part VI, Line 15b: President is the only paid office and the other board members are aware of this an approve it”

“All governing documents and 990s are available to the public upon request.”

“The Foundation accepted a large grant designated for the construction and operation of a new rescue center, which is directly aligned with the Foundations mission and current program services. Although this program is closely related to the Foundations other services, it will be classified as its own program service. At this time, the Foundation has purchased the property for the rescue center, but the building requires substantial renovation and the acquisition of necessary supplies and equipment before it can be fully functional. As of the end of the fiscal year, the facility has not yet been placed into service, but it is anticipated that the rescue center will be operational in 2025.”

“The amount reported on line 11g is higher than typical due to the organizations reliance on independent contractors in Mexico for essential program services. These contractors are responsible for a substantial portion of the animal care, feeding, and facility cleaning at the organizations operating site. Due to the nature of the work, local labor regulations, and logistical considerations, the organization engages these individuals as contractors rather than employees.”

“A detailed breakdown of all Other Expenses is provided in the overflow statement. In summary, program-related Other Expenses include a range of direct animal welfare services such as transportation, food, medication, sterilization, boarding, and veterinary care, as well as facility maintenance and related operational costs. Managerial expenses in this category primarily consist of communication services, minor equipment purchases, and property taxes related to administrative functions.”

“Veterinary care: Care is provided to impoverished families needing help for their animals and also for feral animals which are trapped.”

“Explanation of Bank Fees: The organization operates largely in Mexico, and there are bank fees associated both with using foreign ATMs, and with Chase bank for using ATMs outside of their networks. Additionally, The Balam Foundation accepts individual donations through Paypal, which charges a processing fee per donation, which is included in these bank fee amounts. There are also foreign exchange fees when the US bank is used to make purchases within Mexico. A breakdown of the bank fees are as follows:”

“During 2024 the Organization discovered that a prior correction to an error in the 2021 payroll tax filings caused federal unemployment (Form940) and quarterly payroll (Forms941) liabilities to be misstated. Amended returns (Forms940-X and941-X) were filed in 2023, but not recorded properly in the 2023 books, and the cumulative correction decreased net assets without donor restrictions by $2,021.This adjustment affects only beginning net assets. It had no impact on 2024 revenue or expenses.”