2025-11-17T13:41:33-06:00 2024-12-31 710817652 FROST PLLC 4375 N VANTAGE DRIVE SUITE 403 FAYETTEVILLE AR 72703 990 2024-01-01 710637199 INDEPENDENCE COUNTY ECONOMIC DEVELOPMENT FOUNDATIONS INC INDE 8707932378 409 VINE ST BATESVILLE AR 72501 CRYSTAL JOHNSON SECRETARY 8707932378 2025-11-12 1 1 JANET M PTACEK P00226415 4796954300 2025-11-10 2024 2025-03-06 01:10:19Z CRYSTAL JOHNSON 409 VINE ST BATESVILLE AR 72501 265067 0 X N/A X 1986 AR THE FOUNDATION'S PURPOSE IS TO FOCUS ON EDUCATION, PLACEMAKING, HEALTHY LIVING, WELL-BEING, AND ECONOMIC PROSPERITY FOR THE CITIZENS OF INDEPENDENCE COUNTY. 11 11 0 6 0 0 0 265067 0 0 0 0 0 0 0 265067 0 0 0 0 0 0 0 0 0 0 225606 0 225606 0 39461 61433 101542 0 0 61433 101542 THE FOUNDATION'S PURPOSE IS TO FOCUS ON EDUCATION, PLACEMAKING, HEALTHY LIVING, WELL-BEING, AND ECONOMIC PROSPERITY FOR THE CITIZENS OF INDEPENDENCE COUNTY. 0 0 225021 THE FOUNDATION'S PURPOSE IS TO FOCUS ON EDUCATION, PLACEMAKING, HEALTHY LIVING, WELL-BEING, AND ECONOMIC PROSPERITY FOR THE CITIZENS OF INDEPENDENCE COUNTY. 225021 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 11 11 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 AR X THE FOUNDATION 8707932378 409 VINE ST BATESVILLE AR 72501 X CRYSTAL JOHNSON SECRETARY 1.00 X X 0 0 0 JENNIFER EMERY DIRECTOR 1.00 X 0 0 0 LANDON DOWNING CHAIR 1.00 X X 0 0 0 RICK ELUMBAUGH DIRECTOR 1.00 X 0 0 0 MITZIHARGAN DIRECTOR 1.00 X 0 0 0 BRIAN SHONK DIRECTOR 1.00 X 0 0 0 LIZ SPAHN DIRECTOR 1.00 X 0 0 0 MAGGI TIPTON-SMART TREASURER 1.00 X X 0 0 0 AMY FINSTER DIRECTOR 1.00 X 0 0 0 ROBB ROBERTS VICE CHAIR 1.00 X X 0 0 0 AMANDA BLEDSOE DIRECTOR 1.00 X 0 0 0 0 0 0 0 0 0 0 0 225000 40067 265067 265067 0 0 0 200 200 206930 206930 385 385 18091 18091 225606 225021 585 0 61433 101542 61433 101542 0 0 X 61433 101542 61433 101542 61433 101542 X 39461 648 X 0 1 X 1 0 X 1000 49500 128306 19000 265067 462873 1000 49500 128306 19000 265067 462873 462873 30 46 52 41 169 463042 0.99960 0.99900 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 X 275067 10000 10000 265067 0 265067 235606 10000 10000 225606 0 225606 PART X, LINE 2: THE FOUNDATIONS' POLICY WITH RESPECT TO EVALUATING UNCERTAIN TAX POSITIONS IS BASED UPON WHETHER MANAGEMENT BELIEVES IT IS MORE LIKELY THAN NOT THE UNCERTAIN TAX POSITIONS WILL BE SUSTAINED UPON REVIEW BY THE TAXING AUTHORITIES, THEN THE FOUNDATIONS SHALL INTIALLY AND SUBSEQUENTLY MEASURE THE LARGEST AMOUNT OF TAX BENEFIT THAT IS GREATER THAN 50% LIKELY OF BEING REALIZED UPON SETTLEMENT WITH A TAXING AUTHORITY THAT HAS FULL KNOWLEDGE OF ALL RELEVANT INFORMATION. THE TAX POSITIONS MUST MEET THE MORE-LIKELY-THAN-NOT RECOGNITION THRESHOLD WITH CONSIDERATION GIVEN TO THE AMOUNTS AND PROBABILITIES OF THE OUTCOMES THAT COULD BE REALIZED UPON SETTLEMENT USING THE FACTS, CIRCUMSTANCES AND INFORMATION AT THE REPORTING DATE. THE FOUNDATIONS WILL REFLECT ONLY THE PORTION OF THE TAX BENEFIT THAT WILL BE SUSTAINED UPON RESOLUTION OF THE POSITION AND APPLICABLE INTEREST ON THE PORTION OF THE TAX BENEFIT NOT RECOGNIZED. BASED UPON MANAGEMENT'S ASSESSMENT, THERE ARE NO UNCERTAIN TAX POSITIONS EXPECTED TO HAVE A MATERIAL IMPACT ON THE FOUNDATIONS' FINANCIAL STATEMENTS. FORM 990, PART VI, SECTION B, LINE 11B THE BOARD REVIEWS AT SCHEDULED BOARD MEETING AFTER RETURN IS COMPLETED BUT BEFORE FILING THE RETURN. FORM 990, PART VI, SECTION C, LINE 18 FORM 990 IS AVAILABLE TO THE PUBLIC UPON REQUEST. THE FORM 990 WILL BE AVAILABLE FOR REVIEW IN THE ORGANIZATIONS OFFICE OR A COPY CAN BE REQUESTED AT WHICH TIME THE ORGANIZATION WILL REQUIRE THE PAYMENT OF A SMALL FEE TO COVER THE COST OF THE COPY. FORM 990, PART VI, SECTION C, LINE 19 THE FORM 990 COVERS ANY DOCUMENTS THAT ARE AVAILABLE TO BE VIEWED BY THE PUBLIC. FORM 990, PART XI, LINE 9: PRIOR PERIOD ADJUSTMENT 648. WE RESPECTFULLY REQUEST THAT THE FAILURE-TO-FILE PENALTY BE ABATED BASED ON THE IRS'S FIRST TIME ABATE ADMINISTRATIVE WAIVER PROCEDURES, AS DISCUSSED IN IRM 20.1.1.3.6.1, FIRST TIME ABATE (FTA). TAXPAYER MEETS FIRST-TIME PENALTY ABATEMENT CRITERIA. ACCORDING TO IRM 20.1.1.3.6, THE IRS'S REASONABLE CAUSE ASSISTANT PROVIDES AN OPTION FOR PENALTY RELIEF FOR FAILURE-TO-FILE, FAILURE-TO-PAY, AND FAILURE-TO-DEPOSIT PENALTIES IF THE TAXPAYER MEETS CERTAIN CRITERIA. THE TAXPAYER MEETS ALL OF THE FIRST-TIME PENALTY ABATEMENT CRITERIA AS FOLLOWS: (1) FILING COMPLIANCE: MUST HAVE FILED (OR FILED A VALID EXTENSION FOR) ALL REQUIRED RETURNS AND CAN'T HAVE AN OUTSTANDING REQUEST FOR A RETURN FROM THE IRS; (2) PAYMENT COMPLIANCE: MUST HAVE PAID, OR ARRANGED TO PAY ALL TAX DUE (CAN BE IN AN INSTALLMENT AGREEMENT AS LONG AS THE PAYMENTS ARE CURRENT); AND (3) CLEAN PENALTY HISTORY: HAS NO PRIOR PENALTIES (EXCEPT AN ESTIMATED TAX PENALTY) FOR THE PRECEDING THREE YEARS.