The Restoration Foundation

“Enko Girma and Delilah Antolini, who are both board members, are husband and wife.”

“The form 990 details are sent to each board member for review and confirmation prior to submitting the form.”

“Compliance with the conflict of interest policy is enforced by conducting an annual review of any interests disclosed by officers that could give rise to conflicts of interest. To date, monitoring and review of these disclosures have not identified any conflicts of interest.”

“None of the officers or executive director are paid any compensation. All officers, including the executive director, serve in a voluntary capacity.”

“Documentation such as the organization's governing documents, conflict of interest policy, and financial statements are available to the public for review during the tax year upon request.”

“Other services totaling $15,632 include the following expenses:Gardening services for $1,200, Trash expenses of $3,468 and Maintenance expenses of $10,963.94.”

“Net Assets were calculated as the difference between total assets and total liabilities. At the beginning of 2024, the Restoration Foundation held a property with a loan of $450,000 on it. In March of 2024, the organization underwent a refinancing with a new bank for this loan. As part of the refinancing process, the bank issuing the new loan paid for an appraisal of the property's value, which determined that the property had a value of $1,575,000. Based on this appraisal, the bank issued a new loan of $950,000 on the property. $450,000 of this loan was used to pay off the loan that existed on the property. Thus, the total assets now equaled $75,632 in cash on hand plus the building's appraised valuation of $1,575,000 for a total of $1,650,632.10. The total liabilities now equaled $941,881.10 (as of Dec 2024, after principal and interest payments made on the new loan). Thus the net assets were calculated as the difference between total assets (1,605,632.10) and total liabilities(941,881.10) = $708,751.”

“Other net changes in net asset balances in the amount of 629,152 reflect the net asset balance of $708,751 reported for the end of 2024. This net asset balance was calculated as the difference between total assets and total liabilities in 2024. Total assets in 2024 = $1,575,000 (appraised value of real estate determined during loan refinancing in March 2024) + 75,632.10 (cash on hand at end of 2024) = $1,650,632.10. Total liabilities for 2024 = $941,881. This is the amount of the new loan that was taken out on the property upon refinancing with a new bank in March 2024. Thus, net assets were calculated as the difference of Total assets ($1,650,632.10) - total liabilities (941,881) = $708,751.”