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FORM 990 | COMPLIANCE WITH ARIZONA REVISED STATUTES THE ORGANIZATION CONDUCTS ITS STO ACTIVITIES PURSUANT TO ENACTED ARIZONA REVISED STATUTES AND IN MANAGEMENT'S OPINION, THE ORGANIZATION COMPLIED WITH THE REQUIREMENTS FOR OPERATIONS AS ESTABLISHED BY ARIZONA REVISED STATUTES AS OF JUNE 30, 2021. DESIGNATED NET ASSETS DESIGNATED NET ASSETS AS OF JUNE 30, 2021, INCLUDE BALANCES REQUIRED TO BE PAID OUT UNDER ARIZONA STATE LAW AND TOTALED 592,325. SCHOLARSHIPS SCHOLARSHIPS ARE EXPENSED WHEN DISBURSED. ALL SCHOLARSHIPS ARE APPROVED BY THE BOARD OF DIRECTORS PRIOR TO PAYMENT BY AUTHORIZING SELECTION COMMITTEES TO DETERMINE THE STUDENTS TO BE AWARDED AND THE AMOUNT OF EACH SCHOLARSHIP TO BE AWARDED. REFUNDED SCHOLARSHIPS ARE REPORTED NET OF SCHOLARSHIPS PAID IN THE YEAR THE REFUND WAS RECEIVED. |
FORM 990, PAGE 6, PART VI, LINE 2 | JEFF OITZMAN DIRECTOR MARRIED TO EMPLOYEE/BD MBR ALAN BROWN DIRECTOR MARRIED TO EMPLOYEE/BD MBR |
FORM 990, PAGE 6, PART VI, LINE 11B | THE FORM 990 IS COMPLETED UNDER THE DIRECTION OF SENIOR MANGEMENT. ALL MEMBERS OF THE BOARD ARE INVITED TO REVIEW THE COMPLETED FORM 990 IN ADVANCE OF THE FILING DEADLINE WITH ALL QUESTIONS AND CONCERNS ADDRESSED AND INCORPORATED INTO THE FORM 990 AS APPROPRIATE. AFTER ALL INPUT FROM THE BOARD HAS BEEN ADDRESSED, SENIOR MANAGEMENT FILES THE FINAL FORM 990 AS REQUIRED. |
FORM 990, PAGE 6, PART VI, LINE 12C | IN REGARDS TO THE CONFLICT OF INTEREST POLICY THE ORGANIZATION HAS ADOPTED, EACH INTEREST PERSON IS REQUIRED TO SIGN A STATEMENT AFFIRMING THAT SUCH PERSON HAS RECEIVED A COPY OF THE POLICY, HAS READ AND UNDERSTANDS THE POLICY, HAS AGREED TO COMPLY WITH THE POLICY, AND UNDERSTANDS THAT THE ORGANIZATION MUST ENGAGE PRIMARILY IN ACTIVITIES THAT ACCOMPLISH ONE OR MORE OF ITS TAX-EXEMPT PURPOSES. |
FORM 990, PAGE 6, PART VI, LINE 15A | COMPENSATION IS APPROVED AND PAID TO THE OFFICERS BASED ON THE ORGANIAZATION'S ABILITY TO PAY. INCREASES MAY BE CONSIDERED AS THE ORGANIZATION CONTINUES TO GROW. |
FORM 990, PAGE 6, PART VI, LINE 19 | IT IS KING FOUNDATION'S POLICY TO FULLY COMPLY WITH FEDERAL AND ARIZONA PUBLIC DISCLOSURE REQUIREMENTS WITH RESPECT TO IRS FORMS 990 AND 1023. OUR ORGANIZATION WILL FULFILL ALL REQUESTS FOR FORMS MADE IN WRITING OR IN PERSON. IN ADDITION, THE IRS FORM 990 IS AVAILABLE ON THE GUIDESTAR WEBSITE. |
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