Modaly Incorporated

Schedule O:

“Part I, Line 16 ? Other Expenses The total of $61,175 reported under Other Expenses consists of the following categorized items from the organizations Statement of Activity: Digital Literacy Mbom Project Expense: $49,000 Office Expenses: $299.50 Bank Fees and Service Charges: $645.00 Memberships and Subscriptions: $747.82 Software and Applications: $332.64 Printing and Photocopying: $864.90 Shipping and Postage: $149.23 Supplies and Materials: $149.23 Tax Filing Fees and Miscellaneous: $84.99 These expenses supported the building, launch and operations of the Modaly Digital Literacy Center in Ndagbo Mbom Village, Abia State, Nigeria, outreach programs, administrative overhead, and the organizations digital infrastructure. Part II, Line 24 ? Other Assets The amount of $3,691 reported as ?Other Assets consists of: Donated Computer Equipment: $3,500 (in-kind) Net asset balancing adjustment: $191 This adjustment ensures the balance sheets end-of-year net assets (Line 27) match those calculated in Part I (Line 21), due to small rounding or in-kind timing differences in asset recognition. General Disclosure ? Use of Schedule O Modaly Incorporated operates on a cash basis and received significant in-kind donations in 2024. These include: $50,000 in donated construction services $49,000 in building materials purchased with donated funds $5,000 in donated land for the Digital Center construction $3,500 in donated computer equipment All of these were capitalized under Land, Buildings, or Other Assets, and do not appear under expenses due to accounting basis. These contributed to the construction and outfitting of the Modaly Digital Literacy Center, completed in 2024. The organization maintains no liabilities at year-end.”