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        <FormAndLineReferenceDesc>Part X : FIN48 Footnote</FormAndLineReferenceDesc>
        <ExplanationTxt>The Heads Network, Inc. is organized as a nonprofit corporation and has been recognized by the IRS as exempt from federal income taxes under IRC Section 501(a) as an organization described in IRC Section 501(c)(3), qualifies for the charitable contribution deduction, and has been determined not to be a private foundation. We are annually required to file a Return of Organization Exempt from Income Tax (Form 990) with the IRS. In addition, it is subject to income tax on net income that is derived from business activities that are unrelated to our exempt purposes. We have determined that we are not subject to unrelated business income tax and have not filed an Exempt Organization Business Income Tax Return (Form 990-T) with the IRS.US GAAP require the Organization's management to evaluate tax positions taken by the Organization and recognize a tax liability (or asset) if the Organization has taken an uncertain position that more likely than not would be sustained upon examination by the IRS. The Organization's management has analyzed the tax positions taken by the Organization and has concluded that, as of June 30, 2025 and 2024, no uncertain positions have been taken or are expected to be taken that would require recognition of a tax liabilitiy (or asset) or disclosure in the financial statements. The Organization is subject to routine audits by taxing jurisdictions for the periods of 2020 to the present. There are currently no audits for any tax periods in progress.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Part XI, Line 4b: Other revenue amounts included on 990 but not included in F/S</FormAndLineReferenceDesc>
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      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Form 990, Part VI, Section A, Line 6</FormAndLineReferenceDesc>
        <ExplanationTxt>SCHOOLS APPLYING FOR MEMBERSHIP IN THE HEADS NETWORK SHOULD BE MEMBERS OF THE NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS (NAIS), THE CANADIAN INDEPENDENT ACCREDITED SCHOOLS ASSOCIATION, OR BE CURRENTLY ACCREDITED BY ONE OF THE MEMBER NAIS ACCREDITING BODIES OR BY ONE OF THE SIX FEDERALLY RECOGNIZED SCHOOL/COLLEGE ACCREDITING BODIES. ELIGIBLE SCHOOLS MAY BECOME MEMBERS OF THE HEADS NETWORK BY COMPLETING AN APPLICATION FORM, PAYING ANNUAL DUES, AND BEING APPROVED BY THE BOARD OF TRUSTEES.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Form 990, Part VI, Section B, Line 11b</FormAndLineReferenceDesc>
        <ExplanationTxt>MEMBERS WILL REVIEW THE RETURN INDIVIDUALLY, SEND THEIR VOTE TO THE TREASURER, AND HAVE A PHONE MEETING TO DISCUSS IF NECESSARY.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Form 990, Part VI, Section B, Line 12c</FormAndLineReferenceDesc>
        <ExplanationTxt>EACH TRUSTEE SIGNS CONFLICT OF INTEREST FORMS AND IS REQUIRED TO REPORT ANY CONFLICTS TO THE FULL BOARD.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Form 990, Part VI, Section B, Line 15a</FormAndLineReferenceDesc>
        <ExplanationTxt>THE BOARD COMPLETES AN EVALUATION FORM; THERE IS A BOARD DISCUSSION; THE FINANCE COMMITTEE RECOMMENDS COMPENSATION; AND THE BOARD CHAIR MEETS WITH THE EXECUTIVE DIRECTOR. THERE IS A WRITTEN CONTRACT WHICH WAS DRAWN UP BY AN ATTORNEY.</ExplanationTxt>
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      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Form 990, Part VI, Section B, Line 15b</FormAndLineReferenceDesc>
        <ExplanationTxt>THE BOARD COMPLETES AN EVALUATION FORM; THERE IS A BOARD DISCUSSION; THE FINANCE COMMITTEE RECOMMENDS COMPENSATION; AND THE BOARD CHAIR MEETS WITH THE EXECUTIVE DIRECTOR. THERE IS A WRITTEN CONTRACT WHICH WAS DRAWN UP BY AN ATTORNEY.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Form 990, Part VI, Section C, Line 19</FormAndLineReferenceDesc>
        <ExplanationTxt>THE ORGANIZATION'S GOVERNING DOCUMENTS ARE MADE AVAILABLE UPON REQUEST.</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleO>
  </ReturnData>
</Return>