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      <Form990ScheduleDPartXIV>
        <Identifier>Pt X</Identifier>
        <Explanation>IWV is exempt from income taxes on all activities directly</Explanation>
      </Form990ScheduleDPartXIV>
      <Form990ScheduleDPartXIV>
        <Explanation>RELATED TO ITS EXEMPT PURPOSE UNDER THE INTERNAL REVENUE SERVICE CODE SECTION 501 (C)(4). THE ORGNIZATION IS LIABLE FOR INCOME TAXES ON UNRELATED BUSINESS INCOME. THERE WAS NO TAXABLE NET UNRELATED BUSINESS INCOME FOR THE YEAR ENDED DECEMBER 31, 2011. ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN MADE IN THESE FINANCIAL STATEMENTS. THE ORGANIZATION EVALUATED ITS TAX POSITIONS AND DETERMINED IT HAS NO UNCERTAIN TAX POSITIONS AS OF DECEMBER 31, 2011. THE ORGANIZATION'S</Explanation>
      </Form990ScheduleDPartXIV>
      <Form990ScheduleDPartXIV>
        <Explanation>2009 THROUGH 2011 TAX YEARS ARE OPEN FOR EXAMINATION BY FEDERAL TAXING AUTHORITIES.</Explanation>
      </Form990ScheduleDPartXIV>
    </IRS990ScheduleD>
    <IRS990ScheduleO documentId="00000005" softwareId="11000175">
      <GeneralExplanation>
        <Identifier>Pt VI, Line 12c</Identifier>
        <Explanation>Board members are given the policy. The review is ongoing</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Explanation>via review of the invoices/financial data. In addition,</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Explanation>the CEO regularly points out to Board members and consultants</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Explanation>that compliance policies are worthless without an ethical</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Explanation>culture. The Board requires assurance that there are no</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Explanation>conflicts in any contractual relationship, while requiring</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Explanation>full disclosure and evaluation where there may be a conflict.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>Pt VI, Line 15</Identifier>
        <Explanation>IWV's top management official is a volunteer and will remain</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Explanation>a volunteer until IWV attains sufficient size. Compensation of</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Explanation>others is at fair market rates based on available market</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Explanation>data.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>Pt VI, Line 11a</Identifier>
        <Explanation>The 990 is reviewed by the board prior to filing.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>Form 990, Part IX, Line 24f</Identifier>
        <Explanation>PRIZES 9000. 9000. 0. 0. MAILING LIST 8000. 0. 0. 8000. DONATIONS 7888. 7888. 0. 0. BANK CHARGES 6105. 0. 4627. 1478. STATE REGISTRATION FEES 4478. 0. 0. 4478. DUES AND SUBSCRIPTIONS 3598. 3267. 331. 0. CABLE/TELEPHONE 2412. 1728. 684. 0. COMMUNICATIONS 2157. 700. 1057. 400. ALLOCATED G &amp; A COSTS 0. 33487. -40606. 7119.</Explanation>
      </GeneralExplanation>
    </IRS990ScheduleO>
    <IRS990ScheduleR documentId="00000006" softwareId="11000175">
      <Form990ScheduleRPartII>
        <NameOfDisregardedEntity>
          <BusinessNameLine1>INDEPENDENT WOMEN'S FORUM</BusinessNameLine1>
        </NameOfDisregardedEntity>
        <AddressUS>
          <AddressLine1>1875 I STREET NW</AddressLine1>
          <City>WASHINGTON</City>
          <State>DC</State>
          <ZIPCode>20015</ZIPCode>
        </AddressUS>
        <EIN>541670627</EIN>
        <PrimaryActivities>RESEARCH AND EDUCATION</PrimaryActivities>
        <LegalDomicileState>DC</LegalDomicileState>
        <ExemptCodeSection>501 (c)(3)</ExemptCodeSection>
        <PublicCharityStatus>no</PublicCharityStatus>
        <DirectControllingEntityName>
          <BusinessNameLine1>NO</BusinessNameLine1>
        </DirectControllingEntityName>
        <ControlledOrg>false</ControlledOrg>
      </Form990ScheduleRPartII>
      <ReceiptOfIntAnnRentsRoyalties>false</ReceiptOfIntAnnRentsRoyalties>
      <GiftGrantOrCapContrToOtherOrg>false</GiftGrantOrCapContrToOtherOrg>
      <GiftGrantOrCapContrFrOtherOrg>false</GiftGrantOrCapContrFrOtherOrg>
      <LoansOrGuaranteesToOtherOrg>false</LoansOrGuaranteesToOtherOrg>
      <LoansOrGuaranteesFromOtherOrg>false</LoansOrGuaranteesFromOtherOrg>
      <SaleOfAssetsToOtherOrg>false</SaleOfAssetsToOtherOrg>
      <PurchaseOfAssetsFromOtherOrg>false</PurchaseOfAssetsFromOtherOrg>
      <ExchangeOfAssets>false</ExchangeOfAssets>
      <RentalOfFacilitiesToOtherOrgs>false</RentalOfFacilitiesToOtherOrgs>
      <RentalOfFacilitiesFrOtherOrgs>false</RentalOfFacilitiesFrOtherOrgs>
      <PerformOfServicesForOtherOrgs>false</PerformOfServicesForOtherOrgs>
      <PerformOfServicesByOtherOrgs>false</PerformOfServicesByOtherOrgs>
      <SharingOfFacilities>true</SharingOfFacilities>
      <SharingOfPaidEmployees>true</SharingOfPaidEmployees>
      <ReimbursementPaidToOtherOrg>false</ReimbursementPaidToOtherOrg>
      <ReimbursementPaidByOtherOrg>false</ReimbursementPaidByOtherOrg>
      <OtherTransferToOtherOrg>false</OtherTransferToOtherOrg>
      <OtherTransferFromOtherOrg>false</OtherTransferFromOtherOrg>
      <TransactionsRelatedOrgsTable>
        <NameOfOtherOrganization>
          <BusinessNameLine1>INDEPENDENT WOMEN'S FORUM</BusinessNameLine1>
        </NameOfOtherOrganization>
        <TransactionType>m</TransactionType>
        <AmountInvolved>15324</AmountInvolved>
        <MethodOfAmtDetermination>pro-rata based on time</MethodOfAmtDetermination>
      </TransactionsRelatedOrgsTable>
      <TransactionsRelatedOrgsTable>
        <NameOfOtherOrganization>
          <BusinessNameLine1>INDEPENDENT WOMEN'S FORUM</BusinessNameLine1>
        </NameOfOtherOrganization>
        <TransactionType>n</TransactionType>
        <AmountInvolved>38638</AmountInvolved>
        <MethodOfAmtDetermination>pro-rata based on time</MethodOfAmtDetermination>
      </TransactionsRelatedOrgsTable>
    </IRS990ScheduleR>
  </ReturnData>
</Return>