The Confidence Project Inc.

“The Executive Director has a family relationship with the Board Chair and the Board Secretary - Treasurer.”

“Copy of Form 990 was emailed to Board members”

“An informal survey was conducted in June 2022 to determine the salary range for an Executive Director of a start-up and / or small nonprofit. The consensus was that an annual starting salary of $60,000 with paid medical and dental benefits would be reasonable.”

“Donation of hygiene products to children and families in need. Also includes kit bags, stickers and cards. These expenses represent the total of both the the $217,600 of InKind Donations (courtesy of Earth Breeze laundry sheets) and $9436 of hygiene products purchased and provided as donations without the benefit of Grant donations. - Activity Code: Grants Amount: 0 Expense Amount: 227036 Revenue Amount: 0”

“In our previous filing of our 2023 Form 990-EZ we did not include InKind Donations in the category of Revenues.”

“Our Reconciliation of Net Assets reflects a difference of $393. This difference remained after methodically reviewing all Asset, Liability and Equity accounts, both by the preparer and with the assistance of Intuit Quickbooks accounting support staff and our financial advisor (retired CPA). The consensus is the difference was caused by changing from a Cash Basis in 2022 to an Accrual Basis in 2023. This consensus is clarified by the following statement: Switching from cash basis to accrual basis accounting can significantly affect the reconciliation of net assets, as it will require adjustments to reflect revenue and expenses that were not recorded under the cash basis but are now recognized when earned or incurred, potentially changing the balance of assets and liabilities on the balance sheet.”

“This Form 990 tax return represents our second year operating as a 501(c) (3) . Initially, in our start-up year, we elected to use the Cash Basis for our accounting records. However, after conferring with several sources on this decision we are now electing to use the Accrual Basis for our current and future accounting records.”