Endowment Project Education Foundation

“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.”

“Organizational startup: in 2023, tepf incurred a total of $46,296 in start-up expenses. These first-year expenses represent more than half of the $91,216 in management & general expenses for the year. These one-time expenses were funded by donors who wished to support the launch of the nonprofit organization and included legal and website development activities. Legal fees incurred include those related to establishing the foundation as a 501 (c)(3) organization under the internal revenue service. Services included drafting articles of incorporation and bylaws and registering the organization as well as advising on organization structure and relationships. In addition, the tepf board engaged counsel to advise and represent it in the negotiation of the master services agreement and licensing agreement with the endowment project, the foundation's fundraising and technology vendor. Website services included building the foundation's website.”