Revenue Service Department of the Treasury ,ox 2508 ,\nati, OH 45201 ite: October 17, 2011 Person to Contact: Janine L. Estes 0203052 Kim Barker Toll Free Telephone Number: ProPublica 877-829-5500 one Exchange Plaza 23" New York, NY 10006 Dear Sir or Madam: This is in response to your letter of October 12, 2011 requesting copies for American Future Fund. Enclosed are the copies you requested. If you have any questions, please call us at the telephone number shown in the heading of this letter Sincerely, Cindy Thomas Manager, Exempt Organizations Determinations INTERNAL REVENUE P. O. BGX 2598 GH $5207 Date: 2 4 AMERICAN FUTURE FUND PG BOX 73&34 DES MOINES, IA 50316 Dear Applicant: fl# EEPARTMENT OF TEE TREASURY Employer ldentifi 26-0620554 DLN: i7053G8D3l2018 Contact Person: MRS. M. TAYLOR Contact Telephone (877) Accounting Period December 31 Form 990 Required Yes Effective Date of August 7, 2007 Contribution Dedu No cation Numbet: 52449 Number: Ending: 4 A Exemption: otioility: We are pleased to inform you that upon review of your application for tax- exempt status we have oetereined that you are exempt from Eederal income tax under section 5Qlic)(O4} of the Internal Revenue Cooe. Beeause this letter eonlo nelp resolve any questions fegaroing your exempt status, you should keep it in your permanent teoofos. Please see enclosed lnformation for Qrganizations Exempt Under Sections Gther Than for some helpful information about your responsibilities as an exempt organization, We have sent a eopy of this letter to your representative as inoicated in your power of attorney. Sincerely, 'ise Robert Choi Director, Exempt Qtganizations Rulings ana Agreements Enclosure: lnformation for Organizations Exempt Undef Sections Qther Than 5Gl(o}(3} Letter AMERICAN FUTURE FUND INEORMATION EOR ORGANIZATIONS EXEMPT UNDER SECTIONS OTHER THAN WHERE TO GET FORMS AND HELP You can obtain forms and instructions by calling toll tree l-800-829-3676, through the Web site at and at local tax assistance centers. You can obtain additional information about most topics discussed below through our customer service function by calling toll tree l-877-829-5500, or on our Web Site at ln addition, you should sign up for Exempt Organizationfs E0 Update, a regular e~nail newsletter that highlights new information posted on the charities pages of irs.gov. To subscribe, go to and click on Newsletter." REPORTING CHANGES TO THE IRS You must report changes in your name, address, purposes, operations or sources of financial support on your annual information return. You may also report these changes to the Exempt Organizations Determinations Gffice at the tollowing address: Internal Revenue Service, P.0. Box 2508, Cincinnati, OH ?520l. However, such reporting does not relieve you of the obligation to report the changes on your annual return, nttacn_copies of-any state certified articles of incorporation, or it an association signed constitution, bylaws, or other organizational document snowing the changes. Trusts should provide trust instruments. lt state certified copies or signed governing documents are not available, an authorized officer nay'certify that the governing document provided is a complete and accurate copy of the original document. Qlease use your employer identification number on all returns and in all correspondence with the Internal Revenue Service. EILING REQUIREMENTS ln your exemption letter, we indicated whether you must file Form 990, Return of Grganization Exempt From income Tax. li your exemption letter states that you are not required to file Form 990, you are exempt from these requirements. Qtnerwise, it your gross receipts are normally more than $25,000, you must file Form Q00 or Form 900-EZ with the Ogden Submission Processing Center, Ogden, UT, SQZO1-0027. You are eligible to file Form 990-EZ if your gross receipts are normally between $25,000 and $l00,000, and your total assets are less than $250,000. You must file the complete Form 990 if your gross receipts are over $l00,000, or your total assets are over $250,000. The Form 990 instructions snow how to compute your "normal" receipts. Letter AMERICAN FUTURE FUND Qrganizations with Gross Receipts of $25,000 or Less rar tax periods beginning after December 31, 2006, you must file an annual electronic Form 990-N ("e~Postcard"} if your gross receipts are normally $25,000 or less. Alternatively, you may file a complete Form 990 Package if we send one to you. For information on filing the new electronic Form visit our Web site at wwW.irs.gov/eo. Due Date of Return or Annual Electronic Notice Your return or annual electronic notice is due by the 15th day of the fifth month after the end of your annual accounting period. There are penalties for failing to file a complete return timely. For additional informaton on penalties, see the Form'990 instructions or call our toll free number. Revocation of Tax-Exempt Status ?or tax periods beginning after December 31, 2006, your tax-exempt status will be revoked as of the tiling due date for the third year if you fail to tile for three consecutive years Form 990, Form 990-EZ, or the electronic Form lf your tax-exempt status is revoked because you tailed to file, you must reapply for exemption and pay the appropriate user tee. UNRELATEU INCGME TAX RETURN lt you receive more than $1,000 annually in gross receipts from a regular trade or business, you may be subject to Unrelated Business lncome Tax and required to file Form 990-T, Exempt Grganization business income Tax Return. Special rules for organizations exempt under sections 50l(c)(7), (9), (17) and {19) are described in Qublication 598, Tax on Unrelated Business Income of Exempt Grganizations. There are several exceptions to the tax on unrelated business income: i lncome you receive from the performance of your exempt activity, is income from fundraisers conducted by volunteer workers, or where donated merchandise is sold, and 2. 3. lncome from routine investments such as certificates of deposits, savings accounts, or stock dividends. There are special rules for income derived from real estate or other investments purchased with borrowed funds. This income is called "debt financed" income. For additional information regarding unrelated business income tax, see Publication 598, Tax on Unrelated Business income of Exempt Qrganizations, or call our toll tree number shown above. INSPECTIGN OF ANE RETURN Letter 9i8 AMERISAN FUTURE FUND You are required to make your annual information return, Form 990 or Form 990-EZ, available for public inspection for three years after the later of the due date of the return, or the date the return is filed. You are also required to make available for public inspection your exemption application, any supporting documents, and your exemption letter, You must also provide copies of these documents to any individual, upon written or in person request, without charge other than reasonable fees for copying and postage. You may fulfill this requirement by placing these documents on the Internet. Fenalties may be imposed for failure to comply with these requirements. Additional information is available in Publication 557, Tax-Exempt Status tor Your Organization, or call our toll free number shown above* EXCESS BENEFIT TRANSACTIONS (Applies to organizations) governed by section 4958 of the Code. Excess Excess benefit transactions are benefit transactions involve situations where a section organization provides an unreasonable benefit to a person who is in a position to exercise substantial influence over the organization's affairs. If you believe there may be an excess benefit transaction in which you are involved, you should report the transaction on Form 990 or Form 990-EZ. For information on how to correct and report this transaction, see the instructions for Form 990 and Form or call our toll free number shown above. TAXES If you have employees, you are subject to income tax Withholding and the social security taxes imposed under the Federal Insurance Contribution act IFICAE, You are required to withhold Federal income tax from your employee's Wages and you are required to pay PICA on each employee who is paid more than $100 in wages during a calendar year. To know how much income tax to withhold, you should have a Form W-Q, for each employee. Employee's Withholding Allowance Certificate, on file tax under the Federal Unemployment Tax (FUTA) for each You are also liable for employee you pay $50 or more during a calendar quarter if, during the current or preceding calendar year, you had one or more employees at any time in each of 20 calendar weeks or you paid wages of $l,500 or more in any calendar quarter. Employment taxes are reported on Form Q?i, Employer's Quarterly Federal Tax Returni The requirements for withholding, depositing, reporting and paying employment taxes are explained in Circular E, Employer's Tax Guide, (Publication 15), and Employeris Supplemental Tax Guide, (Publication l5~A)i These publications explain your tax responsibilities as an employer. I bf fd ff" if relief lg*/0/CG) ff uf? fs i REVENUE DEPARTMENT THE TREASURY P, 0, BOX 25Q8 CENCINNATI, UH @5293 `Empieyer iuentifieetien Numeet: Eete: ip fi me AMERICAN FUTURE i JELL HOLTZMAN VQGEL Ceuteet Person: Q8 ALEXANDRIA PIKE STE 53 MRS. M. TAYLOR 52ee9e WARRENTQN, VA 20186 Contact Telephone Number: (877) 4 Period Ending: December 31 Form 996 Required: Yee Effective Date ef Exemptieu: August 7, 2007 Contribution Deduetibility: Ne Deer We ere te inform yeu that upon feview of yeur application for tex- exempt etetue we eeve determined that yeu ere exempt free tex under of the internal Revenue Code. Because thie letter help questions eegeruiug your exempt Statue; you ehouiu keep it in yeur pefmenent records. Infefmetien fer Grgenizetioee Exempt Under Seetieue Othef Then for eeme eelpfui iefermetiee ebeut your ee ee exempt ergeeizetieu, ee have sent eepy ef this letter te your representative ee indicated in yeur pewer of attorney. Sincerely, 1 Rebett Choi Eirecter, Exempt Orgenizetiene Rulings and Agreements infofmetiee fer Organizations Exempt Under Sections Gther Then _Lettef Qe8 AMERECAN FUTURE FEND organizations with Gross Receipts of $25,000 or Less For tax periods beginning after December 31, 2006, you must file an annual electronic Form 990-N ("e-Postcard"l it your gross receipts are normally $25,000 or less. Alternatively, you may file a complete Form 990 Package it we send one to you. For information on filing the new electronic Form 990-N visit our Web site at Due Date of Return or Annual Electronic Notice Your return or annual electronic notice is due by the 35th day of the fifth month after the end of your annual accounting period. There are penalties for failing to file a complete return timely. For additional informaton on penalties, see the Form 990 instructions or call our toll free number. Revocation of Tax-Exempt Status For tax periods beginning after December 37, 2006, your tax-exempt status will be revoked as of the tiling due date for the tnird year if you tail to file for three consecutive years Form 990, Fora 990-EZ, or the electronic Form 990-N. lt your tax-exempt status is revoked because you failed to file, you must reapply for exemption and pay the appropriate user fee. UNRELATED BUSINESS TAX RETURN li you receive more than $7,000 annually in gross receipts from a regular trade or business, you may be subject to Unrelated Business Income Tax and required to tile rorm Exempt Organization Business Income Tax Return. Special rules for organizations exempt under sections 50l(c)(7), (9), (17) and tl?) are described in Publication 598, Tax on Unrelated Business lncone of Exempt Organizations. There are several exceptions to the tax on unrelated business income: l. Income you receive from the performance of your exempt activity, lncone from fundraisers conducted by volunteer workers, or where donated merchandise is sold, and 2. 3, Income from routine investments such as certificates of deposits, sayings accounts, or stock dividends. There are special rules for income derived from real estate or other investments purchased with borrowed funds. This income is called "debt financed" income. For additional information regarding unrelated business income tax, see Publication 598, Tax on Unrelated Business income of Exempt Grganizations, or call our toll tree number shown above. GF APPLICATIGN AND RETURN Letter GLS You are required to make your annual information return, Form 990 or Form available for public inspection for three years after the later of the due date of the return, or the date the return is filed., You are also required to make available for public inspection your exemption application, any supporting documents, and your exemption letter. You must also provide copies of these documents to any individual, upon written or in person request, without charge other than reasonable fees for copying and postage. You may fulfill this requirement by placing these documents on the internet. Penalties may be imposed for failure to comply with these requirements. Additional information is available in Publication 557, Tax-Exempt Status for Your Organization, or call our toll free number shown above. EXCESS BENEFIT TRANSACTIONS (Applies to organizations) Excess benefit transactions are governed by section e958 of the Code. Excess benefit transactions involve situations where a section 50l(c3(&) organization provides an unreasonable benefit to a person who is in a position to exercise substantial influence over the organization's affairs. lf you believe there may be an excess benefit transaction in which you are involved, you should report the transaction on Form 990 or Form 990-EZ. For information on how to correct and report this transaction, see the instructions for Form 590 and Form 990-EZ, or call our toll free number shown above. EMPLOYMENT TAXES lf you have employees, you are subject to income tax withholding and the social security taxes imposed under the Federal lnsurance Contribution Act (FICA). You are required to withhold Federal income tax from your employee's wages and you are required to pay on each employee who is paid more than $100 in wages during a calendar year. To know how much income tax to withhold, you should have a Form WFQ, Employee's Withholding Allowance Certificate, on file for each employee. You are also liable for tax under the Federal Unemployment Tax (FUTA) for each employee you pay $50 or more during a calendar quarter if, during the current or preceding calendar year, you had one or more employees at any time in each of 20 calendar weeks or you paid wages of $1,500 or nore in any calendar quarter, Employment taxes are reported on Form Qei, Employer's Quarterly Federal Tax Return. The requirements for withholding, depositing, reporting and paying employment taxes are explained in Circular E, Employer's Tan Guide, {Publication 15), and Employerls Supplemental Tax Guide, (Publication l5'e). These publications explain your tax responsibilities as an employer. Leiter 8718 User Fee for Exempt Organization Fo, Determination Letter Request Control number (Rev. August 2005) 3 ,i a, use Q. Department ofthe Treasury iwi Attach this form to determination letter application. only Amount paid lfifema' Revenue Sefvlce (Form 8718 is NOT a determination letter application.) User fee Screener 1 Name of organization 2 Employer identification Number iq 2610620554 American Future Fund Caution: Do not attach Form 8778 to an app/ication for a pension p/an determination /etten Use Form 877 7 instead. 3 Type of request Fee a lj initial request for a determination letter for: 0 An exempt organization that has had annual gross receipts averaging not more than $10,000 during the preceding 4 years, or 0 A new organization that anticipates gross receipts averaging not more than $10,000 during its first 4 years $150 Note: /f you checked box Sa, you must complete the Certification be/ow. Certification certify that the annual gross receipts of name of organization have averaged (or are expected to average) not more than $10,000 during the preceding 4 (or the first 4) years of operation. Signature Title initial request for a determination letter for: 0 An exempt organization that has had annual gross receipts averaging more than $10,000 during thepreceding 4 years or 0 A new organization that anticipates gross receipts averaging more than $10,000 during its first 4 years $500 Group exemption letters $500 Insfrugtigns Whgre T0 File You are not required to provide the The law requires payment of a user fee with each application for a determination letter. The user fees are listed on line 3 above. For more information, see Rev. Proc. 2005-8, 2005-1, 243, or latest annual update. Check the box or boxes on line 3 for the type of application you are submitting. lf you check box 3a, you must compiete and sign the certification statement that appears under line 3a. Attach to Form 8718 a check or money order payable to the "United States Treasury" for the full amount of the user fee. lf you do not include the full amount, your application will be returned. Attach Form 8718 to your determination letter application. Generally, the user fee will be refunded only if the Internal Revenue Service Money Order Here Attach Check or Send the determination letter application and Form 8718 to: i internal Revenue Service P.O. Box 192 Covington, KY 41012~0192 lf you are using express mail or a delivery service, send the application and Form 8718 to: internal Revenue Service 201 West Rivercenter Blvd. Attn: Extracting Stop 312 Covington, KY 41011 Paperwork Reduction Act Notice. We ask for the information on this form to carry out the internal Revenue laws of the United States. lf you want your organization to be recognized as tax-exempt by the IRS, you are required to give us this information. We need it to determine whether the organization meets the legal requirements for tax-exempt status. 1 i\ sw sat/ .s information requested on a form that is subject to the Paperwork Reduction Act unless the form displays a valid control number. Books or records relating to a form or its instructions must be retained as long as their contents may become material in the administration of any internal Revenue law. The rules governing the confidentiality of Form 8718 are covered in section 6104. The time needed to complete and file this form will vary depending on individual circumstances, The estimated average time is 5 minutes. lf you have comments concerning the accuracy of this time estimate or suggestions for making this form simpler, we would be happy to hear from you. You can write to the internal Revenue Service, Tax Products Coordinating Committee, 1111 Constitution Ave. NW, lR-6406, Washington, DC 20224. Do not send this form to this address. Instead, see Where To File above. Hi gm -- if-1 W, fri in "Nxt-4 ti i i` -cr .-.U ., 21 Cat. No. 647282 at ,ferret '=4"mub at if Form 8718 (Rev. 8-2005) Pgwer gf 1 oivle No. 1545-0150 Form Mm, 2004, and Declaration of Representative use Department ofthe Treasury - Received by: Internal Revenue Service Type or print. l> See the separate instructions. Name Power of Attorney Telephone I Caution: Form 2848 will not be honored for any purpose other than representation before the Function 5 1 Taxpayer information. Taxpayer(s) must sign and date this form on page 2, line 9. Date Taxpayer name(s) and address Social security number(s) Employer identification American Future Fund PO Box 13434 number Des lvloinee, lA 50310 5 265 0620554 Daytime telephone number Plan number (if applicable) hereby appointls) the following representativels) as 2 Representative(s) must sign and date this form on page 2, Part ll. Name and address CAF No. Jill Vogel Telephone No. 98 Alexandria Pike, Ste 53 Fax Q40 341 8809 Warrenton, VA 20186 Check if new: Address Telephone No. Fax l\lo. lj Name and address CA): Karen Blackistone Telephone No. 98 Alexandria Pike, Ste 53 Fax 5 4_0 _34_1_ _8809 Warrenton, VA 20186 Check if new: Address lil Telephone No. [1 Fax l\lo. lil Name and address CAF No. Jasvn Torchinsky Telephone No. 98 Alexandria Pike, Ste 53 Fax 5 VA 20186 Check if new: Address Telephone No. lj Fax No. lj to represent the taxpayerls) before the internal Revenue Sen/ice for the following tax matters: 3 Tax matters Type of Tax (income, Employment, Excise, etc.) Tax Form Number Year(s) or Period(s) or Civil Penalty (see the instructions for line 3) (1040, 941, 720, etc.) (see the instructions for line 3) income Tax 2007, 2008, 2009 Tax Determination 1024 2008 4 Specific use not recorded on Centralized Authorization File (CAF). lf the power of attorney is for a specific use not recorded on CAF, check this box. See the instructions for Line 4. Specific uses not recorded on CAF. ij 5 Acts authorized. The representatives are authorized to receive and inspect confidential tax information and to perform any and all acts that (we) can perform with respect to the tax matters described on line 3, for example, the authority to sign any agreements, consents, or other documents. The authority does not include the power to receive refund checks (see line 6 below), the power to substitute another representative, the power to sign certain returns, or the power to execute a request for disclosure of tax returns or return information to a third party. See the line 5 instructions for more information. Exceptions. An unenrolled return preparer cannot sign any document for a taxpayer and may only represent taxpayers in limited situations. See Unenrolled Return Preparer on page 2 of the instructions. An enrolled actuary may only represent taxpayers to the extent provided in section 10.3(d) of Circular 230. See the line 5 instructions for restrictions on tax matters partners. List any specific additions or deletions to the acts otherwise authorized in this power of attorney: 6 Receipt of refund checks. lf you want to authorize a representative named on line 2 to receive, BUT NOT TO ENDORSE OR CASH, refund checks, initial here and list the name of that representative below. Name of representative to receive refund check(s) For Privacy Act and Paperwork Reduction Notice, see page 4 of the instructions. Cat. No. 1198OJ Form 2848 (Rev. 3-2004) Form 2848 (nav. 3-2004) Page 2 7 Notices and communications. Original notices and other written communications will be sent to you and a copy to the first representative listed on line 2. lf you also want the second representative listed to receive a copy of notices and communications, check this box . . Ei a lf you do not want any notices or communications sent to your representatlvelsi, check this box 8 Retention/revocation of prior powerls) of attomey. The filing of this power of attorney automatically revokes all earlier powerls) of attorney on file with the internal Revenue Service for the same tax matters and years or periods covered by this document. lf you do not want to revoke a prior power of attorney, check here YOU MUST ATTACH A COPY OF ANY POWER OF ATTORNEY YOU WANT TO REMAIN IN EFFECT. 9 Signature of taxpayer(s). lf a tax matter concerns a joint return, both husband and wife must sign if joint representation is requested, otherwise, see the instructions. lf signed by a corporate officer, partner, guardian, tax matters partner, executor, receiver, administrator, or trustee on behalf of the taxpayer, certify that have the authority to execute this form on behalf of the taxpayer. IF NOT IGNED AND DATED, THIS POWER OF ATTORNEY WILL BE RETURNED. 'Baie "Title Ala. Home .. Name PIN Number Print name of taxpayer from line if other than individual lil EEUU Print Name PIN Number Part Il Declaration of Representative Caution: Students with a special order to represent taxpayers in Qualified Low income Taxpayer Clinics or the Student Tax Clinic Program, see the instructions for Part Under penalties of perjury, I declare that: i am not currently under suspension or disbarment from practice before the Internal Revenue Service; 0 am aware of regulations contained in Treasury Department Circular No. 230 (31 CFR, Part 10), as amended, concerning the practice of attorneys, certified public accountants, enrolled agents, enrolled actuaries, and others; 0 am authorized to represent the taxpayerls) identified in Part forthe tax matter(s) specified there; and I am one of the following: a Attorney-a member in good standing of the bar of the highest court of the jurisdiction shown below. Certified Public Accountant-duly qualified to practice as a certified public accountant in the jurisdiction shown below. Enrolled Agent-enrolled as an agent under the requirements of Treasury Department Circular No. 230. Officer--a bona fide officer of the taxpayers organization. Pull-Time Employee--a full-time employee ot the taxpayer. Family Member--a member of the taxpayers immediate family spouse, parent, child, brother, or sister). 9 Enrolled Actuary-enrolled as an actuary by the Joint Board for the Enrollment of Actuaries under 29 U.S.C. 1242 (the authority to practice before the Service is limited by section 'lO.3(d) of Treasury Department Circular No. 230). Unenrolled Return Preparer-the authority to practice before the internal Revenue Service is limited by Treasury Department Circular No. 230, section You must have prepared the return in question and the return must be under examination by the IRS. See Unenrolled Ftetum Prepares' on page 2 ofthe instructions. . IF THIS DECLARATION OF REPRESENTATIVE IS NOT SIGNED AND DATED, THE POWER OF ATTORNEY BE RETURNED. See the Part ll instructions. Designation insert Jurisdiction (state) or above letter identification Igna ?/50 Form 848 (Rev. 3~2oo4) l. if 2. 8 al ;lr.l5l as 2 .- ,rs . if i7d53@3@3i2Ui8 PM 1024 Application for Recognition of Exemption OMB No. 1545-0051 (Rev. September 1998) Und9|' 501(3) If mm 3 Department of the Treasury for public inspection. Internal Revenue Service Read the instructions for each Part carefully. A User Fee must be attached to this application. If the required information and appropriate documents are not submitted along with Form 8718 (with payment of the appropriate user fee). the application may be returned to the organization. Complete the Procedural Checklist on page 6 of the instructions. Part I. Identification of Applicant (Must be completed by all applicants; also complete appropriate schedule.) Submit only the sc edule that applies to your organization. Do not submit blank schedules. Check the appropriate box below to indicate the section under which the organization is applying: a Section holding corporations (Schedule A. page 7) Qi Section 501 leagues, social welfare organizations Gncluding certain war veterans' organizations), or local associations of employees (Schedule B, page 8) El Section 501 agricultural, or horticultural organizations (Schedule C, page 9) Section leagues, chambers of commerce, etc. (Schedule C, page 9) lj Section clubs (Schedule D, page 11) Section 501 beneficiary societies, etc.. providing life, sick, accident. or other benehts to members (Schedule E, page 13) El Section employees' benenciary associations (Parts I through IV and Schedule F, page 14) lj Section fraternal societies, orders, etc., not providing life, sick, accident, or other beneiits (Schedule E, page 13) i Cl Section life insurance associations, mutual ditch or irrigation companies. mutual or cooperative telephone companies, or like organizations (Schedule G. page 15) Ei Section crematoria, and like corporations (Schedule H, page 16) El Section insurance companies or associations, other than life or marine (Schedule l, page 17) I [Il Section providing for the payment of supplemental unemployment compensation benetits (Parts I through IV and Schedule J, page 18) El Section 501 post, organization, auxiliary unit. etc., of past or present members of the Armed Forces of the United States (Schedule K. page 19) lj Section holding corporations or trusts (Schedule A, pa 7) . 1a Full name of organization (as shown in organizing document) 2 Employer identilication number (EIN) (if none, see Specilic Instructions on page 2) American Future Fund 26 5 0620554 1b c/o Name (if applicable) 3 Name and telephone number of person to be contacted if additional information is needed 1c Address (number and street) P0 BM13434 Jason 1d City, town or post oftice, state, and ZIP 4 If you have a foreign address, see Specitic Instructions for Part I, page 2. Des Moines, IA 50310 540 341 8808 1e Web site address 4 Month the annual accounting period ends 5 Date incorporated or formed 6 Did the organization previously apply for recognition of exemption under this Code section or under any other section of the Code? [Ii Yes No If "Yes," attach an explanation, 7 Has the organization filed Federal income tax returns or exempt organization information returns"Yes," state the form numbers, years tiled, and Internal Revenue office where r1Ied. 8 Check the box for the type of organization. THE APPLICATION BEFORE MAILING. a Corporation- Attach a copy of the Articles of Incorporation (including amendments and restatements) showing approval by the appropriate state ofncialy also attach a copy of the bylaws. Trust- Association- Attach a copy of the Trust Indenture or Agreement. including all appropriate signatures and dates. Attach a copy of the Articles of Association, Constitution. or other creating document. with a declaration (see instructions) or i th ment more than one person. Also include a copy other evidence that the organization was formed by a option ocu of the bylaws. If this is a corporation or an unincorporated association that has not et adopted laws check here th ities of ury that I am authorized to sign this application on behalf of the above organization and that I have examined I declare un this app cation ng the ompa ying schedules and attachments nd to the best of knowledge it is true correct and complete QMQMI (T pe or print name and title or autho of signer) (Date) For Paperwork Reduction Act Notice see pa 5 of the instructions Cat No 12343K HERE ignaturelsr'feeade%%aa@i@ eewmms mm5@@riwaz. .. ,aw 5, ti riff" ATTACH A CONFORMED COPY OF THE CORRESPONDING ORGANIZING DOCUMENTS TO Form 1024 (Rev. 9-98) Page 2 Part ll. Activities and Operational Information (l\/lust be completed by all applicants) 1 Provide a detailed narrative description of all the activities of the organization-past, present, and planned. Do not merely refer to or repeat the language in the organizational document. List each activity separately in the order of importance based on the relative time and other resources devoted to the activity. Indicate the percentage of time for each activity. Each description should include, as a minimum, the following: a detailed description of the activity including its purpose and how each activity furthers your exempt purpose; when the activity was or will be initiated; and where and by whom the activity will be conducted. EDUCATE THE PUBLIC 70% The organization plans to educate the public on policy issues and decisions that affect the American public. Starting in August 2007- through 2007 and beyond Consultants will be engaged to assist with this activity. ACTIVITY TO INFLUENCE LEGISLATION 30% The organization plans to engage in activity to influence legislation through grassroots advocacy promoting state and local legislative and executive branch initiatives in support of its mission at the state and federal level. Starting in August 2007- through 2007 and beyond Consultants will be engaged to assist with this activity. 2 List the organizations present and future sources of financial SUDDOIT, beginning with the largest source first. Corporations, associations, organizations and individuals who support the mission and purpose of this organization may provide financial support. Form 1024 (Rev. 9-98) Page 3 Part ll. Activities and Operational information (continued) 3 Give the following information about the organization's governing body: a Names, addresses, and titles of officers, directors, trustees, etc. Annual compensation Nicole Schlinger None* PO Box 257, 700 E. Pleasant Street, Brooklyn, IA 52211 *Nicole Schlinger is not compensated for her services as a director. Her fundraising and telemarketing firm may be contracted to provide services to the organization at market rates. 4 lf the organization is the outgrowth or continuation of any form of predecessor, state the name of each predecessor, the period during 't co ies of all papers by which any transfer of assets was effected. which it was in existence, and the reasons for its termination. mi 5 lf the applicant organization is now, or plans to be, connected in any way with any other organization, describe the other organization and ntinuin basis; shared facilities or employees; same officers, directors, or trustees). explain the relationship financial support on a co 6 lf the organization has capital stock issued and outstanding, state: (1) class or classes of the stock; (2) number and par value of the shares; (3) consideration for which they were issued; and (4) if any dividends have been paid or whether your organization's creating in- k. strument authorizes dividend payments on any class of capital stoc A h' the or anization' the classes of membership (with the number of members in each 7 State the qualifications necessary for members ip in class); and the voting rights and privileges received. lf any group or class of persons is required to join, describe the requirement and mbers and members who join voluntarily. Submit copies of any membership solicitation material explain the relationship between ose me Attach sample copies of all types of membership issued. The corporation has no members. 8 Explain how your organizations assets will be distributed on dissolution. d' tributed Upon dissolution of the corporation or the winding up of its affairs, the assets of the Corporation shal is to another organization operated exclusively for charitable purposes or for social welfare purposes as described in section 501 Form 1024 (Rev, 9-98) Part ll. Activities and Operational information (continued) 9 Has the organization made or does it plan to make any distribution of its property or surplus funds to shareholders or members? lf "Yes," state the full details, including: (1) amounts or value; (2) source of funds or property distributed or to be distributed; and (3) basis of, and authority for, distribution or planned distribution. 10 Does, or will, any part of your organization's receipts represent payments for services performed or to be performed?. lf "Yes," state in detail the amount received and the character of the services performed or to be performed. Page l-las the organization made, or does it plan to make, any payments to members or shareholders for services performed or to be performed? lf "Yes," state in detail the amount paid, the character of the sen/ices, and to vvhom the payments have been, or vvill be, made. Yes No 12 Does the organization have any arrangement to provide insurance for members, their dependents, or others (including provisions for the payment of sick or death benefits, pensions, or annuities)? lf "Yes," describe and explain the arrangement's eligibility rules and attach a sample copy of each plan document and each type of policy issued. El Yes No 13 ls the organization under the supervisory jurisdiction of any public regulatory body, such as a social welfare agency, etc.? lf "Yes," submit copies of all administrative opinions or court decisions regarding this supen/ision, as vvell as copies of lj Yes No applications or requests for the opinions or decisions. 14 Does the organization novv lease or does it plan to lease any property? lf "Yes," explain in detail. Include the amount of rent, a description of the property, and any relationship between the applicant organization and the other party. Also, attach a copy of any rental or lease agreement. (lf the organization is a party, as a lessor, to multiple leases of rental real property under similar lease agreements, please attach a single representative copy of the leases.) Yes No 15 Has the organization spent or does it plan to spend any money attempting to influence the selection, nomination, election, or appointment of any person to any Federal, state, or local public office or to an office in a political organization?, lf "Yes," explain in detail and list the amounts spent or to be spent in each case. lj Yes No 16 Does the organization publish pamphlets, brochures, nevi/sletters,journals, or similar printed material? lf "Yes," attach a recent copy of each. lj Yes No Form 1024 (Rev. 9-98) Page 5 Part lIl_ Financial Data (l\/lust be completed by all apglicants) Complete the Hnancia/ statements for the current year and for each of the 3 years immediately before it. lf in existence /ess than 4 years, complete the statements for each year in existence. If in existence less than 1 year, also provide proposed budgets for the 2 years following the current year. A. Statement of Revenue and Ex enses Current Tax Year 3 Prior Tax Years or Proposed Budget for Next 2 Years Revenue From _l To 12/08 (bi (ci 2010 td) ie) Tatar 1 Gross dues and assessments of members 5,000,000 5,000,000 5,000,000 15,000,000 3 Gross amounts derived from activities related to the organization's exempt purpose (attach schedule) (include related cost of sales on line 9.) 4 Gross amounts from unrelated business activities (attach schedule) 2 Gross contributions, gifts, etc. 5 Gain from sale of assets, excluding inventory items (attach schedule) 6 investment income (see page 3 of the instructions) 7 Other revenue (attach schedule) Expenses 9 Expenses attributable to activities related to the 5,000,000 5,000,000 5,000,000 15,000,000 organizations exempt purposes 10 Expenses attributable to unrelated business activities 11 Contributions, gifts, grants, and similar amounts paid (attach schedule) 1 2 Disbursements to or for the benefit of members (attach schedule) 13 Compensation of oliicers, directors, and trustees (attach schedule) 14 Other salaries and wages 15 Interest 16 Occupancy 17 Depreciation and depletion 18 Other expenses (attach schedule) 19 Total expenses (add lines 9 through 18) 5'000'000 53001000 15'000'000 20 Excess of revenue over expenses (line 8 minus line 19) 0 B. Balance Sheet (at the end of the eriod shown) Current Tax Year as of- Assets 1 Cash 0 2 Accounts receivable, net 3 Inventories 4 Bonds and notes receivable (attach schedule) 5 Corporate stocks (attach schedule) 6 Mortgage loans (attach schedule) 7 Other investments (attach schedule) 8 Depreciable and depletable assets (attach schedule) 9 Land 10 Other assets (attach schedule) 11 Total assets 0 Liabilities - 12 Accounts payable 1 2 0 13 Contributions, gifts, grants, etc., payable 14 Mortgages and notes payable (attach schedule) 15 Other liabilities (attach schedule) 16 Total liabilities 0 Fund Balances or Net Assets - 17 Total fund balances or net assets 17 0 18 Total liabilities and fund balances or net assets (add line 16 and line 17) 0 lf there has been any substantial change in any aspect of the organizations financial activities since the end of the period shown above, check the box and attach a detailed explanation Page 8 Form 1024 (Rev. 9-98) 5C|1edU|e Organizations Described in Section 501(c)(4) (Civic leagues, social welfare organizations (including posts, councils, etc., of veterans' organizations not qualifying or applying for exemption under section 501(c)(19)) or local associations of employees.) 1 Has the Internal Revenue Service previously issued a ruling or determination letter recognizing the applicant organization (or any predecessor organization listed in question 4, Part ll of the application) to be exempt under section 501 and later revoked that recognition of exemption on the basis that the applicant organization (or its predecessor) was carrying on propaganda or otherwise attempting to influence legislation or on the basis that it engaged in political activity? lf "Yes," indicate the earliest tax year for which recognition of exemption under section 5Ol(c)(3) was revoked and the IRS district office that issued the revocation. Yes No 2 Does the organization perform or plan to perform (for members, shareholders, or others) services, such as maintaining the common areas of a condominium; buying food or other items on a cooperative basis; or providing recreational facilities or transportation services, job placement, or other similar undertakings? lf "Yes," explain the activities in detail, including income realized and expenses incurred, Also, explain in detail the nature of the benefits to the general public from these activities, (lf the answer to this question is explained in Part ll ofthe application (pages 2, 3, and 4), enter the page and item number here.) Yes No 3 lf the organization is claiming exemption as a homeowners' association, is access to any property or facilities it owns Yes No or maintains restricted in any way? lf "Yes," explain. 4 lf the organization is claiming exemption as a local association of employees, state the name and address of each employer whose employees are eligible for membership in the association. lf employees of more than one plant or office of the same employer are eligible for membership give the address of each plant or office. "fiaf _acc :_wig 5?;mR -053634 _,sf eg *ik 5.5 1 1-x 591 fx?ff' 1 gag: M. -_fr 5-5? T1 ff: _iff Lilirat Sfiate _ack nowled Qes rece?0119 "lv The dccumel :q If -mb Wag I feactiv g1_1St -, isCAITLO :gf- - p?iymgn- .W . ?sj - fs: J~lJ_lng f@ fu V5 J: .M Nw T11 ,rfb .M xii_ig ,551 irgfi za-1 wi* TQ u, - L"l~ - - ww - I Il-Ffbi - - ft? li" '-933' 5" ws: -. ,f xy 239' - 9- 54:-1 - I wx125fnpy - - - - 325: di; n- --#Sw _-_-ga _"fi Hi" -J 7 ARTICLES OF INCORPORATION OF AMERICAN FUTURE FUND (Formed under the Revised Iowa Non-Profit Corporation Act) ARTICLE I The name ofthe corpo-ration is An1e1'_ican_Future Fund ("the Corporation"). ARTICLE II The address ofthe Corporatiorfs initial registered oftice and the name 't 1 its lnitial re glstered agent at that office: CT Corporation System 22-22 Grand Avenue Des Moines, IA 50312 'ii CX ARTICLE GW Lge.. .J rf' :Sh $33The following individ 1 ua all serve as the Incorporatot: lk Mt Jessica Young *fe* 98 A1_exand1?ia Pike, Suite 53 -4 Wen'enton_, VA 20186 ARTICLE IV The Corporation shall have no members. ARTICLE The Corporation is >>estz-zbiished primarily to further the - good and generai Welfare ofthe citizens ofthe United States of America by educating the citizens ofthe United States about public policy issues. No part of the net income ofthe Corporation 11 at more to the benefit of or be disntibuted to its directors, o@cers, or other private persons, except that the Corporation shall be authorized and empowered to pay reasonable compensation for services actually rendered and to make payments and distzibutions in furtherance of the purpose and obj eets set foith in this Fifth A1'tiole. _f wmv" Norwithsianding any other provision of these Articles, this corporation shall not carry on any activity not permitted to be carried on by an organization exempt from federal income tax under section of the h1terna1.Rever1ue Code of 1986, or corresponding provision of any future United State- Internal Revenue iaw ARTICLE VI The directors of the corporation shall be elected or ap-pointed as follows: The Incorporaior shall have the authority to appoint the Initial Board oi;`IDireotors and to fill any that may occur on the Board of Directors. }f)_i_reoto1rs shall serve a term of office of one (1) year. VII Upon dissoiution of the corporation or the Winding up of its affairs, ihe assets of the Corporation shaii be distributed to another organization organized and operated exclusively for charitable purposes or for social welfare purposes as described in section 501(c)(4). These Articles of Incorporation have been duiy signed by the incorporate; as required by law; Dated this day of July, 2607 AMERICAN FUTURE FUND BY: fd (hroorporator) ff; IOWA SECRETARY OF STATE <3 92 2 BYLAWS of AMERICAN FUTURE FUND ARTICLE I OFFICES SECTION l. PRINCIPAL OFFICE. The initial principal office of the corporation shall be located at 2643 Beaver Avenue, #339, Des Moines, IA 503lO. The Corporation may have such other offices, either within or without the State of Iowa, as the Board of Directors may designate or as the business of the Corporation may require from time to time. SECTION 2. REGISTERED OFFICE. The registered office of the Corporation is: 2222 Grand Avenue, Des Moines, IA 50312 ARTICLE II BOARD OF DIRECTORS SECTION l. GENERAL POWERS. The business, property and affairs of the corporation shall be managed by its Board of Directors. SECTION 2. NUMBER. The number of directors of the Corporation shall be fixed by the Board of Directors, but in no event shall be less than one (I). The number of Directors may be increased or decreased from time to time by an amendment to these Bylaws. Any increase in the number of Directors shall be considered a vacancy to be filled by the remaining Directors. SECTION 3. TENURE. Each Director shall serve a one-year term, or shall serve until he or she resigns, is incapable of serving, or is removed pursuant to these Bylaws. Each director must be reelected at the annual meeting ofthe Board of Directors. SECTION 4. REMOVAL. At a special meeting of the Directors of this Corporation called for the purpose of removing any Director, such Director may be removed by a majority vote of all Directors entitled to vote. When any Director is removed, such unexpired term shall be considered a vacancy on the Board of Directors to be filled by the remaining Directors. SECTION 5. RESIGNATION. Any Director may resign at any time with the assent of a majority of the remaining members of the Board of Directors. Bylaws SECTION 6. QUALIFICATIONS. Directors need not be residents of the State of Iowa. SECTION 7. VACANCIES. Any vacancy occurring in the Board of Directors may be filled by appointment by the Incorporator, or, if the Incorporator declines to make such an appointment, by the affirmative vote of a majority of the remaining directors though less than a quorum of the Board of Directors may vote, unless otherwise provided by law. A director elected to fill a vacancy shall be elected for the unexpired term of his predecessor in office. Any directorship to be filled by reason of an increase in the number of directors may be filled by appointment by the Incorporator until the next election of directors by the Directors. SECTION 8. ANNUAL MEETINGS. An annual meeting of the Board of Directors to elect officers and directors and to conduct such business as may be necessary shall be held at such a time and place as shall be designated by the Board. SECTION 9. REGULAR MEETINGS. Regular meetings of the Board of Directors may be held at the time and place as determined by resolution of the Board without other notice than such resolution. SECTION IO. SPECIAL MEETINGS. Special meetings ofthe Board of Directors may be called by or at the request of the President or any two directors. The person or persons authorized to call special meetings of the Board of Directors may fix the time and place for holding any special meeting ofthe Board of Directors called by them. SECTION 11. NOTICE. Notice of any special meeting shall be given at least two (2) days previous thereto by written notice delivered personally or mailed to each director at his business address, or by telegram. If mailed, such notice shall be deemed to be delivered when deposited in the United States Mail so addressed, with postage thereon prepaid. If notice be given by electronic or Internet notice, such notice shall be deemed to be delivered when the electronic or Internet notice is delivered to the service provider SECTION IZ. WAIVER OF NOTICE. The attendance of a Director at a Board meeting shall constitute a waiver of notice of such meeting, except where a Director attends a meeting for the express purpose of objecting to the transaction of any business because the meeting is not lawfully called or convened. The Director may also submit a signed waiver of notice. SECTION I3. QUORUM. A majority of the Directors then in office constitutes a quorum for the transaction of any business at any meeting of the Board of Directors. A quorum shall not be established if more than 50 percent of such quorum is related by blood or marriage. If less than a majority is present at a meeting, a majority of the directors present may adjourn the meeting from time to time without further notice 2 of 9 Bylaws SECTION I4. MANNER OF ACTING. The act of the majority of the directors present at a meeting at which a quorum is present shall be an authorized action of the Board of Directors. SECTION IS. ACTION WITHOUT A MEETING. Any action required or permitted to be taken pursuant to authorization voted at a meeting of the board of directors or a committee thereof may be taken Without a meeting if, before or after the action, all members of the board or of the committee consent thereto in Writing. The Written consents shall be filed with the minutes of the proceedings of the board or committee. The consent has the same effect as a vote of the board of committee for all purposes. SECTION 16. MEETINGS HELD VIA CONFERENCE CALL. A member of the board or of a committee designated by the board may participate in a meeting by means of conference telephone or similar communications equipment by means of which all participants in the meeting can simultaneously hear each other. Participation in a meeting pursuant to this provision constitutes presence in person at the meeting. SECTION l7. COMPENSATION. By resolution of the Board of Directors, each director may be paid his expenses, if any, of attendance at each meeting of the Board of Directors, and may be paid a stated salary as director or a fixed sum for attendance at each meeting of the Board of Directors or both, so long as such payments are reasonable. No such payment shall preclude any director from serving the Corporation in any other capacity and receiving compensation therefore. SECTION IS. PRESUMPTION OF ASSENT. A director of the Corporation Who is present at a meeting of the Board of Directors at which action on any corporate matter is taken shall be presumed to have assented to the action taken unless his dissent shall be entered in the minutes of the meeting or unless he shall file his Written dissent to such action with the person acting as the Secretary of the meeting before the adjournment thereof, or shall forward such dissent by registered mail to the Secretary of the Corporation immediately after the adjournment of the meeting. Such right to dissent shall not apply to director who voted in favor of such action. ARTICLE OFFICERS SECTION l. NUMBER. The officers of the Corporation shall be a President, and a Treasurer all of Whom shall be elected annually by the Board of Directors. Such other officers and assistant officers as may be deemed necessary may be elected or appointed by the Board of Directors, including a Secretary, Vice President or Chairman. In its discretion, the Board of Directors may leave unfilled for any such period as it may determine any office except those of President and Treasurer. Any two or more offices may be held by the same person. 3of9 Bylaws SECTION 2. ELECTION AND TERM OF OFFICE. The officers of the Corporation shall be elected annually by the Board of Directors at the annual meeting of the Board of Directors. Each officer shall hold office for a one-year term, or until a successor is elected and qualified, or until his death, or until he shall resign or shall have been removed in the manner hereinafter provided. SECTION 3. REMOVAL. Any officer, agent, or director may be removed by a unanimous vote ofthe -Board of Directors whenever, in its judgment, the best interests of the Corporation will be _served thereby, but such removal shall be without prejudice to the contract rights, if any, of the person so removed. Election or appointment of an officer, agent, or director shall not of itself create contract rights, and such appointment shall be terminable at will. An officer's authority to act may be suspended by vote of a majority of the Board for cause. SECTION 4. VACANCIES. A vacancy in any office because of death, resignation, removal, disqualification or otherwise, may be filled by the Board of Directors for the unexpired portion of the term. SECTION 5. COMPENSATION. The salaries of the officers shall be reasonable and shall be fixed from time to time by the Board of Directors. No officer shall be prevented from receiving such salary by reason of the fact that he is also a director of the Corporation. SECTION 7. PRESIDENT. The President shall be the chief executive officer of the Corporation and subject to the Board of Directors, shall have authority over the general control and management of the business and affairs of the Corporation. He shall, when present, preside at all meetings of the Board of Directors. The President shall have power to appoint or discharge employees, agents, or independent contractors, and to determine their duties and compensation, if any, which shall be reasonable. The President shall sign all corporate documents and agreements on behalf of the Corporation, unless the President or the Board expressly instructs that the signing be done with or by some other officer, agent or employee, or shall be required by law to be otherwise signed or executed. The President shall see that all actions taken by the Board are executed and shall perform all other duties incident to the office; subject, however, to the President's right and the right of the Board to delegate any specific power to any other officer of the Corporation. SECTION 8. VICE PRESIDENT. In the absence of the President or in the event of the President's death, inability or refusal to act, the Vice President shall perform the duties of President, and when so acting, shall have all the powers of and be subject to all the restrictions upon the President. SECTION 9. SECRETARY. The Secretary shall: keep minutes of the Board of meetings; be responsible for providing notice to each Director as required by law, the Articles of Incorporation, or by the Bylaws; be the custodian of corporate records; 4of9 Bylaws keep a register of the names and addresses of each officer and Director; and perform all duties incident to the office and other duties assigned by the President or by the Board SECTION lt). TREASURER. The Treasurer shall: have charge and custody over corporate funds and securities; keep accurate books and records of corporate receipts and disbursements; deposit all moneys and securities received by the Corporation at such depositories in the Corporation's name as may be designated by the Board; and perform all duties incident to the office and other duties assigned by the President and by the Board. ARTICLE IV CONFLICT OF INTEREST POLICY SECTION 1. PURPOSE. The purpose of this conflict of interest policy is to protect the.Corporation's interest when the corporation contemplates entering into a transaction or arrangement that might benefit the private interest of an officer or director of the Corporation or might result in a possible excess benefit transaction. This policy is intended to supplement but not replace any applicable state and federal laws governing conflict of interest applicable to nonprofit and charitable organizations. SECTION 2. DEFINITIONS. 1. Interested Person- Any director, principal officer, or member of a committee with governing board delegated powers, who has a direct or indirect financial interest, as defined below, is an interested person. 2. Financial Interest- A person has a financial interest if the person has, directly or indirectly, through business, investment, or family: a. An ownership or investment interest in any entity with which the Corporation has a transaction or arrangement, b. A compensation arrangement with the Corporation or with any entity or individual with which the Corporation has a transaction or arrangement, or c. A potential ownership or investment interest in, or compensation arrangement with, any entity or individual with which the Corporation is negotiating a transaction or arrangement. 3. Compensation includes direct and indirect remuneration as well as gifts or favors that are not insubstantial. 4. A financial interest is not necessarily a conflict of interest. Under Section 3.3 of this article, a person who has a financial interest may have a conflict of interest only if the appropriate governing board or committee decides that a conflict of interest exists. 5of9 Bylaws SECTION 3. PROCEDURES. l. Duty to Disclose- In connection with any actual or possible conflict of interest, an interested person must disclose the existence of the financial interest and be given the opportunity to disclose all material facts to the directors and members of committees with governing board delegated powers considering the proposed transaction or arrangement. 2. Determining Whether a Conflict of Interest Exists- After disclosure of the financial interest and all material facts, and after any discussion with the interested person, he/ she shall leave the governing board or committee meeting while the determination of a conflict of interest is discussed and voted upon. The remaining board or committee members shall decide if a conflict of interest exists. 3. Procedures for Addressing the Conflict of Interest a. An interested person may make a presentation at the governing board or committee meeting, but after the presentation, he/she shall leave the meeting during the discussion of, and the vote on, the transaction or arrangement involving the possible conflict of interest. b. The chairperson of the governing board or committee shall, if appropriate, appoint a disinterested person or committee to investigate altematives to the proposed transaction or arrangement. c. After exercising due diligence, the governing board or committee shall determine whether the Corporation can obtain with reasonable efforts a more advantageous transaction or arrangement from a person or entity that would not give rise to a conflict of interest. d. If a more advantageous transaction or arrangement is not reasonably possible under circumstances not producing a conflict of interest, the governing board or committee shall determine by a majority vote of the disinterested directors whether the transaction or arrangement is in the Corporation's best interest, for its own benefit, and whether it is fair and reasonable. In conformity with the above determination it shall make its decision as to whether to enter into the transaction or arrangement. 4. Violations of the Conflicts of Interest Policy a. If the governing board or committee has reasonable cause to believe a member has failed to disclose actual or possible conflicts of interest, it shall inform the member of the basis for such belief and afford the member an opportunity to explain the alleged failure to disclose. b. If, after hearing the member's response and after making further investigation as warranted by the circumstances, the goveming board or committee determines 6of9 Bylaws the member has failed to disclose an actual or possible conflict of interest, it shall take appropriate disciplinary and corrective action. SECTION 4. RECORDS OF PROCEEDINGS. The minutes of the governing board and all committees with board delegated powers shall contain: l. The names of the persons who disclosed or otherwise were found to have a financial interest in comiection with an actual or possible conflict of interest, the nature of the financial interest, any action taken to determine whether a conflict of interest was present, and the governing board's or committee's decision as to whether a conflict of interest in fact existed. 2. The names of the persons who were present for discussions and votes relating to the transaction or arrangement, the content of the discussion, including any alternatives to the proposed transaction or arrangement, and a record of any votes taken in connection with the proceedings. SECTION 5. COMPENSATION. l. A voting member of the governing board who receives compensation, directly or indirectly, from the Corporation for services is precluded from voting on matters pertaining to that member's compensation. 2. A voting member of any committee whose jurisdiction includes compensation matters and who receives compensation, directly or indirectly, from the Corporation for services - is precluded from voting on matters pertaining to that member's compensation. 3. No voting member of the goveming board or any committee whose jurisdiction includes compensation matters and who receives compensation, directly or indirectly, from the Corporation, either individually or collectively, is prohibited from providing information to any committee regarding compensation. ARTICLE VI INDEMNITY The Corporation shall indemnify its directors, officers, employees, and the Incorporator as follows: Every director, officer, or employee of the Corporation shall be indemnified by the Corporation against all expenses and liabilities, including counsel fees. reasonably incurred by or imposed upon him in connection with any proceeding to which he may be made a party, or in which he may become involved, by reason of his being or having been a director, officer, employee or agent of the Corporation or is or was serving at the request of the Corporation as a director, officer, employee or agent of the corporation, partnership, joint venture, trust or enterprise, or any settlement thereof; whether or not he 7of9 Bylaws is a director, officer, employee or agent at the time such expenses are incurred, except in such cases wherein the director, officer, or employee is adjudged guilty of willful misfeasance or malfeasance in the performance of his duties; provided that in the event of a settlement the indemnification herein shall apply only when the Board of Directors approves such settlement and reimbursement as being for the best interests of the Corporation. The Corporation shall provide to any person who is or was a director, officer, employee, or agent of the Corporation or is or was serving at the request of the Corporation as a director, officer, employee or agent of the corporation, partnership, joint venture, trust or enterprise, the indemnity against expenses of suit, litigation or other proceedings which is specifically permissible under applicable law. The Board of Directors may, in its discretion, direct the purchase of liability insurance by way of implementing the provisions of this Article VI. A ARTICLE VII CONTRACTS, LOANS, CHECKS AND DEPOSITS SECTION I. CONTRACTS. The Board of Directors may authorize any officer or officers, agent or agents, to enter into any contract or execute and deliver any instrument in the name of and on behalf of the Corporation, and such authority may be general or confined to specific instances. SECTION 2. LOANS. No loans shall be contracted on behalf of the Corporation and no evidences of indebtedness shall be issued in its name unless authorized by a resolution ofthe Board of Directors. Such authority may be general or confined to specific instances. SECTION 3. CHECKS, DRAFTS, ETC. All checks, drafts or other orders for the payment of money, notes or other evidences ofindebtedness issued in the name of the Corporation, shall be signed by such officer or officers, agent or agents of the Corporation and in such manner as shall from time to time be determined by resolution ofthe Board of Directors. SECTION 4. DEPOSITS. All funds of the Corporation not otherwise employed shall be deposited from time to time to the credit of the Corporation in such banks, trust companies or other depositories as the Board of Directors may select. SECTION 5. CORPORATE DOCUMENT PROCEDURE. All corporate documents including stocks, bonds, agreements, insurance and annuity contracts, qualified and nonqualified deferred compensation plans, checks, notes, disbursements, loans, and other debt obligations shall not be signed by any officer, designated agent or attorney-in-fact unless authorized by the Board or these Bylaws. 8of9 Bylaws ARTICLE MEMBERS There shall be no members of the Corporation. ARTICLE IX FISCAL YEAR The fiscal year of the Corporation shall begin on the first day of January and end on the last day of December each year. ARTICLE CORPORATE SEAL The Board of Directors may at its discretion provide a corporate seal, which shall be circular in form and shall have inscribed thereon thename ofthe Corporation and the State of incorporation and the words. "Corporate Seal". ARTICLE XI WAIVER OF NOTICE Unless otherwise provided by law, whenever any notice is required to be given to any director of the Corporation under the provisions of these Bylaws or under the provisions of the Articles of Incorporation or under the provisions of the applicable Business Corporation Act, a waiver thereof in writing, signed by the person or persons entitled to such notice, whether before or after the time stated therein, shall be deemed equivalent to the giving of such notice. ARTICLE XII AMENDMENTS These Bylaws may be altered, amended or repealed and new Bylaws adopted by the Board of Directors at any regular or special meeting ofthe Board of Directors 9of9 are Affomeys af Lara March 18, 2008 lntemal Revenue Service 201 West Rivercenter Blvd. Attn: Extracting Stop 312 Covington, KY 41011 To Whom It May Concern: 1 am one ofthe attorneys authorized to represent American Future (EIN 26 98 Alexandria Pike Suite 53 Warrenton, VA 20186 if/540-341-8809 06205 54) in connection With its Form 1024 application and am listed onthe Form 2848 submitted with that application. 1 Enclosed, please find the forms 1024- Application for Recognition of Exemption, 2848- Power of Attorney and Declaration of Representative, and 8718- User Fee for Exempt Organization Determination Letter Request with all necessary attachments. Should you have any questions, please do not hesitate contact me, or one ofthe other attorneys listed on form 2848. Thank you for your assistance in this matter. Sincerely, Karen Blackistone Internal Revenue Service Department of the Treasury P.O. Box 2508 - Room Cincinnati, Ohio 45201 Date: July 14, 2008 Employer Identification Number: 26~0620554 AMERICAN FUTURE FUND Person to Contact - Group #z Mrs. M. Taylor BOX 13434 52-449 Des Moines, IA. 50310 Contact Telephone Numbers: 410-962-9525 4lO-962~Ol33 Fax Response Due Date: August 4, 2008 Dear Sir or Madam: Before we can recognize you as being exempt from Federal income tax, we must have enough information to show that you have met all legal requirements. You did not include the information to make that determination on your Form 1024, Application for Recognition of Exemption Under Section 501(a) or for Determination Under Section 120. To help us determine whether you are exempt from Federal income tax, please send us the requested information by the above date. We can then complete our review of your application. If we do not hear from you within that time, we will assume you do not want us to consider the matter further and will close your case. As a result, the Internal Revenue Service will treat you as a taxable entity. If we receive the information after the response due date, we may ask you to send us a new Form 1024. If you have any questions, please contact the person whose name and telephone number are shown in the heading of this letter. Sincerely yours, M. Taylor A Exempt Organizations Specialist Enclosure Letter 1313 (DO) Page 2 Name: American Future Fund Note: Your response to this letter must be submitted over the signature of an authorized person or of an officer whose name is listed on the application. Also, the information you submit should be accompanied by the following declaration which must be signed by an officer of the organization: Under penalties of perjury, I declare that I have examined this information, including accompanying documents, and, to the best of my knowledge and belief, the information contains all the relevant facts relating to the request for the information, and such facts are true, correct, and complete. PLEASE ATTACH A COPY OF THIS LETTER TO ALL CORRESPONDENCE. Page 3 Name: American Future Fund Additional Information Requested: You indicate in the application that your activities consist of 70% educating the public on policy issues and decisions that affect the American public. The organization also plans to influence legislation 306 of the time through grassroots advocacy promoting state and local legislative and executive branch initiatives in support of its mission at the state and federal level. These activities are to start in August, 2007 and beyond. You also indicate that consultants will be engaged to assist with your activities. We wish to call your attention to section 4.03 of Revenue Procedure 2008-9, Internal Revenue Eulletin 2008~2, page 262, which reads in part, as follows: "Exempt status will proposed operations conclusion that the requirements of the be recognized in advance of operations if can be described in sufficient detail to permit a organization will clearly meet the particular section under which exemption is claimed. A mere restatement of purposes or a statement that proposed activities will be in furtherance of such purposes will not satisfy this requirement. (2) The organization must fully describe the activities in which it expects to engage, including the standards, criteria, procedures, or other means adopted or planned for carrying out the activities, the anticipated sources expenditures. of receipts, and the nature of contemplated (3) Where the organization cannot demonstrate to the satisfaction of the Service that it qualifies for exemption pursuant to the section of the Internal Revenue Code under which exemption is claimed, the Service will generally issue a proposed adverse determination letter or ruling." The information submitted with your application does not contain sufficient information in detail to fully describe your purposed activities. Therefore, submit a detailed description of all of the activities of the organization - past, present, and planned showing how you operate or will operate to achieve your purposes. Each activity should be separately described, and the description should include as a minimum, the following; Page 4 N-amei a) Its purpose and nature. b) Frequency and duration. c) How, when, where and by whom it was, is, or will be conducted. d) The requirements a person or organization must meet in order to participate in or receive benefit from the activity. e) The amounts of any charges or fees and the basis for the amount. f) What the activity has accomplished or will accomplish. g) State what percentage of the total time and effort of the organization is devoted to carrying out each activity. 2. You indicate in the application that there is officer. Please explain why. How will this person undertake the roles of President, Secretary and Treasurer and carrying out all of the activities of the organization? There is not sufficient representation of unrelated persons from the community on your board. A board of directors that includes representatives from the community, instead of a board consisting solely of one person is an indication that the organization will serve public rather than private interests. A one-person board is "prima-facie" evidence that the organization is organized and operated for private interests. Your bylaws also indicate that a "quorum" must be present in order to conduct business. You cannot have a "quorum" with only person. It is STRONGLY recommended that you expand your board to include non- family members? If you agree to do this, provide the names, titles, addresses, and any compensation amounts of the newly elected board. Also submit a copy of the minutes of the meeting wherein this action was taken. 3. You indicate in the financial data, "gross dues and assessments of members". What are the qualifications for your members? How much are their dues and/or assessments? Explain fully. How does the organization obtain its membership? You also state that the "corporation has no members." Explain this discrepancy. Submit copies of any solicitations for support. 4. You indicate on page 3 of the application that Nicole Schlinger is affiliated with a fundraising and telemarketing firm that may be contracted to provide services to the organization at market rates. Explain fully and include all terms and contracts, proposed or executed. Also explain why services are to be provided at "market" rates. Why not provide services "at" or "below cost"? Providing services at market rates may be prima- facie evidence that private interests are served. 5. Submit representative copies of any brochures, pamphlets, newsletters, newspaper articles, advertisements, or any other literature regarding your organization. 6. Submit any other contracts, leases, or other written agreements you have entered or plan to enter on behalf of the organization. Page 5 Name: American Future Fund ADDITIONAL INFORMATION MAY BE REQUESTED PLEASE DIRECT ALL CORRESPONDENCE REGARDING YOUR CASE TO: Street Address: US Mail: Internal Revenue Service 1 Internal Revenue Service Exempt Organizations Exempt Grganizations P. O. Box 13163 31 Hopkins Plaza Baltimore, MD 21203 Baltimore, MD 21201 ATT: M. Taylor ATT: M. Taylor Room l42O l42O Group 7880 Group 7880 Internal Revenue Service Department of the Treasury P.O. Box 2508 - Room Cincinnati, Ohio 45201 Date: July 14, 2008 Employer Identification Number: 26-0620554 Person to Contact - Group #z Mrs. M. Taylor 52-449 Contact Telephone Numberszn 410-962-9525 Phone 410-962-0133 Pax Response Due Date: August 4, 2008 AMERICAN FUTURE FUND c/o Jill Holtzman Vogel 98 Alexandria Pike, Ste 53 Warrenton, VA 20186 Dear Sir or Madam: Before we can recognize you as being exempt from Federal income tax, we must have enough information to show that you have met all legal . requirements. You did not include the information to make that determination on your Form 1024, Application for Recognition of Exemption Under Section 501(a) or for Determination Under Section 120. To help us determine whether you are exempt from Federal income tax, please send us the requested information by the above date. We can then complete our review of your application. If we do not hear from you within that time, we will assume you do not want us to consider the matter further and will close your case. As a result, the Internal Revenue Service will treat you as a taxable entity. If we receive the information after the response due date, we may ask you to send us a new Form 1024. If you have any questions, please contact the person whose name and telephone number are shown in the heading of this letter. Sincerely yours, M. Taylor Exempt Organizations Specialist Enclosure Letter 1313 (DO Page 2 Name: American Future Fund Note: Your response to this letter must he submitted over the signature of an authorized person or of an officer whose name is listed on the application. Also, the information you submit should he accompanied by the following declaration which must he signed hy an officer of the organization: Under penalties of perjury, I declare that I have examined this information, including accompanying documents, and, to the best of my'knowledge and belief, the information contains all the relevant facts relating to the request for the information, and such facts are true, correct, and complete. PLEASE ATTACH A CGPY OE THIS LETTER TO ALL CGRRESPONDENCE. Page 3 Name: American Future Fund Additional Information Requested; You indicate in the application that your activities consist of 70% educating the public on policy issues and decisions that affect the American public. The organization also plans to influence legislation 30 6 of the time through grassroots advocacy promoting state and local legislative and executive branch initiatives in support of its mission at the state and federal level. These activities are to start in August, 2007 and beyond. You also indicate that consultants will be engaged to assist with your activities. We wish to call your attention to section 4.03 of Revenue Procedure 2008-9, Internal Revenue Bulletin 2008-2, page 262, which reads in part, as follows: "Exempt status will proposed operations conclusion that the requirements of the be recognized in advance of operations if can be described in sufficient detail to permit a organization will clearly meet the particular section under which exemption is claimed. A mere restatement of purposes or a statement that proposed activities will be in furtherance of such purposes will not satisfy this requirement. (2) The organization must fully describe the activities in which it expects to engage, including the standards, criteria, procedures, or other means adopted or planned for carrying out the activities, the anticipated sources expenditures. of receipts, and the nature of contemplated (3) Where the organization cannot demonstrate to the satisfaction of the Service that it qualifies for exemption pursuant to the section of the Internal Revenue Code under which exemption is claimed, the Service will generally issue a proposed adverse determination letter or ruling." The information submitted with your application does not contain sufficient information in detail to fully describe your purposed activities. Therefore, submit a detailed description of all of the activities of the organization - past, present, and planned showing how you operate or will operate to achieve your purposes. Each activity should be separately described, and the description should include as a minimum, the following: Page 4 Name; American Future Fund a) Its purpose and nature. b) Frequency and duration. c) How, when, where and by whom it was, is, or will be conducted. d) The requirements a person or organization must meet in order to participate in or receive benefit from the activity. e) The amounts of any charges or fees and the basis for the amount. f) What the activity has accomplished or will accomplish. g) State what percentage of the total time and effort of the organization is devoted to carrying out each activity. 2. You indicate in the application that there is 1 officer. Please explain why. How will this person undertake the roles of President, Secretary and Treasurer and carrying out all of the activities of the organization? There is not sufficient representation of unrelated persons from the community on your board. A board of directors that includes I representatives from the community, instead of a board consisting solely of one person is an indication that the organization will serve public rather than private interests. A one-person board is "prima-facie" evidence that the organization is organized and operated for private interests. Your bylaws also indicate that a "quorum" must be present in order to conduct business. You cannot have a "quorum" with only person. It is STRONGLY recommended that you expand your board to include non- family members? If you agree to do this, provide the names, titles, addresses, and any compensation amounts of the newly elected board. Also submit a copy of the minutes of the meeting wherein this action was taken. 3. You indicate in the financial data, "gross dues and assessments of members". What are the qualifications for your members? How much are their dues and/or assessments? Explain fully. How does the organization obtain its membership? You also state that the "corporation has no members." Explain this discrepancy. Submit copies of any solicitations for support. 4. You indicate on page Bpof the application that Nicole Schlinger is affiliated with a fundraising and telemarketing firm that may be contracted to provide services to the organization at market rates. Explain fully and include all terms and contracts, proposed or executed. Also explain why services are to be provided at "market" rates. Why not provide services "at" or "below cost"? Providing services at market rates may be prima- facie evidence that private interests are served. 5. Submit representative copies of any brochures, pamphlets, newsletters, newspaper articles, advertisements, or any other literature regarding your organi zation 6. Submit any other contracts, leases, or other written agreements you have entered or plan to enter on behalf of the organization. Page 5 Name: American Future Fund ADDITIONAL INFORMATION MAY BE REQUESTED PLEASE DIRECT ALL CORRESPONDENCE REGARDING YOUR CASE TO: US Mail: Street Address: Revenue Service Service Exempt Organizations Exempt Organizations P. 0. Box 13163 31 Hopkins Plaza Baltimore, MD 21203 Baltimore, MD 21201 ATT: M. Taylor ATT: M. Taylor Room 1420 Room 1420 Group 7880 Group 7880 wore err I ,mar July 23, 2008 Internal Revenue Service Exempt Organizations 31 I~Iop1