The Endowment Project Education

“The foundation contracts with its selected certified public accounting firm to prepare the annual form 990 with the assistance of the contract accountant. The firm will provide the form 990 to management for review and comment. Finally, management provides the form 990 to the board president and treasurer for review and comment.”

“Each director, principal officer and member of a committee with board-delegated powers shall annually sign a statement which affirms that such person: a. Has received a copy of the conflicts of interest policy, b. Has read and understands the policy, c. Has agreed to comply with the policy, and d. Understands that the foundation is a charitable organization and that in order to maintain its federal tax exemption it must engage primarily in activities which accomplish one or more of its tax-exempt purposes.”

“The organization makes its financial statements available to the public upon request.”

“During 2024, the foundation experienced its first full operational year. A significant portion of the administrative expenses incurred during this period was directly covered by targeted donations from a limited number of key supporters. These contributions were specifically earmarked to offset foundational startup and operational costs, enabling the foundation to maintain a lean administrative budget while ensuring efficient organizational management and effective deployment of resources. The foundation prioritizes transparency and efficiency in all operations. It carefully monitors administrative expenditures, leveraging dedicated support to maximize the proportion of donations directly impacting its charitable programs. The relatively higher administrative expenses recorded during this inaugural full operational year reflect essential, non-recurring startup activities, including establishing necessary organizational infrastructure, internal systems, compliance mechanisms, and donor management platforms. Moving forward, as these foundational elements stabilize, the foundation expects to achieve a more favorable and sustainable ratio of administrative to programmatic expenses. This trajectory underscores the organization's commitment to operational efficiency and its primary mission of impactful philanthropy in education. The foundation remains committed to rigorous fiscal oversight, aiming to ensure that donor contributions are leveraged to deliver maximum benefit to the supported communities and educational initiatives.”