Academy of Friends

“Form 990 is prepared by an outside tax professional. The form is then reviewed bya member of the board of directors. After a full review (with modifications wherenecessary), the final version of the tax return is provided to all members of the organization's voting body. A representative of the organization authorizes the final form 990 which is then e-filed with the internal revenue service.”

“Members OF THE BOARD OF DIRECTORS REVIEWS ALL POTENTIAL CONFLICTS OF INTEREST ATLEAST ANNUALLY. THE EXECUTIVE DIRECTOR AND ALL BOARD MEMBERS ARE REQUIRED TO DISCLOSE (IN WRITING) POTENTIAL CONFLICTS AND ANY RELATED PARTY AFFILIATIONS. LOANS BETWEEN THE ORGANIZATION AND MEMBERS OF MANAGEMENT AND THE BOARD ARE STRICTLY PROHIBITED. THE ORGANIZATION SEEKS FULL TRANSPARENCY ON ALL RELATIONSHIPS. ANY POTENTIAL CONFLICTS (IN FACT OR APPEARANCE) ARE DISCUSSED OPENLY AND RESOLVED IN ACCORDANCE WITH THE ORGANIZATION'S POLICIES AND PROCEDURES.”

“The organization did not have any employees during the fiscal year ended may 31, 2018.”

“The organization did not have any employees during the fiscal year ended may 31, 2018.”

“All of the organization's governing documents, financial statements and other legalfilings are maintained in a secure environment and held available for inspection bytax authorities and the general public. Tax returns are posted annually towww.guidestar.org (where they are available for viewing as electronic copies) and are also available for a physical inspection at the organization's office in san francisco, california.”

“Client Note 1 - INVESTMENTS-----------Investments are maintained at Charles Schwab and consist of the following at May 31, 2010: Market Value Cost Basis ------------ ----------Cash and money market funds $ 29,915 29,915Corporate securities 2,183 2,318 ------------ ----------Total Investments $ 32,098 32,233 ============ ==========Unless otherwise instructed by AOF, all interest and dividends earned from investments are reinvested and maintained in the organization's investment account. Unrealized losses amounted to ($134) for the year ended May 31, 2010.Property and Equipment----------------------Property and equipment consist of the following at May 31, 2010:Office furniture $ 23,249Computer equipment 6,964Software 21,632Less: accumulated depreciation (50,037) ------------Property and equipment, net $ 1,808 ============Depreciation expense amounted to $2,226 for the year ended May 31, 2010.”