Johnnetta Betsch Cole Legacy Institute Inc

“Prior to filing, a complete copy of the Form 990 was provided to all members of the Board of Directors of the Johnnetta Betsch Cole Legacy Institute for their review. The return was circulated electronically, and board members were given the opportunity to ask questions and provide comments before submission to the IRS.”

“The Johnnetta Betsch Cole Legacy Institute makes its Form 990 and related financial information available to the public upon request. Copies of the organizations governing documents are also available upon written request to the organizations office or by email.”

“Dr. Johnnetta Betsch Cole, Board Member and Founder, and David Cole, Executive Director, are mother and son. Both individuals serve in leadership roles consistent with the organizations mission. The Board is aware of this familial relationship and has implemented appropriate oversight to ensure all employment and governance decisions are made in the best interests of the organization. Board Member Dan Egol served concurrently as Secretary, Treasurer, and part-time Chief Operating Officer under a limited-term contract to support administrative and operational functions. He received $15,000 in consulting compensation, approved by the Board of Directors with Dan recused from the discussion and vote. Mr. Egol was also the named recipient of a pass-through grant administered by the organization to support external programmatic work aligned with JBCLIs charitable mission. This disbursement was approved in accordance with JBCLIs conflict-of-interest policy. The Board determined that both transactions were consistent with fair market value and did not constitute excess benefit or private inurement.”

“In August 2024, the Board of Directors of the Johnnetta Betsch Cole Legacy Institute voted to cease active operations and begin an orderly wind-down of the organizations activities. While program operations ended during FY2024, the organization continued limited administrative and financial activity into FY2025 in connection with its closure. Accordingly, the FY2024 Form 990 is not a final return, and a final Form 990 will be filed following completion of the dissolution process in FY2025.”