Ed23 Foundation Inc.

“The organization is a not for profit corporation with a class of voting member referred to as a stockholder under its articles of incorporaiton. This person does not have ownership or equity interest and does not receive profit distributions. Their role is limited to governance participation as outlined in the organizations bylaws.”

“A complete copy of the form 990 is provided to all directors of the organizations governing body prior to its filing with the irs. The form is distributed electronically and the board of directors are given an opportunity to review and comment on the contents. The final version is approved by the board before filing.”

“When a potential conflict is identified the individual must disclose the nature of the conflict and abstain from both discussion and voting on the matter. The board reviews the conflict and documents its determination in the meeting minutes.”

“The organization makes its form 990 and application for tax exemption available for public inspection upon request. Additionally these documents are available to the public through the new york state charities bureau website at https://www.charitiesnys.com, where the organizations filings are regularly posted in accordance with state law.”

“The organization is used as a pass through for nil income and pay outs to an organization that pays student athletes. The athletes provide a service by either attending a charitable event or by attending a basketball camp.”

“Payments made to empire state nil llc for appearance fees for student athletes - 152,000payments made to coaches for basketball camps and tournaments - 3,300”

“Taxes paid to nys charities bureau for annual filing - 50”