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        <ExplanationTxt>THE BOARD OF DIRECTORS USES COMPARABILITY DATA TO REVIEW AND APPROVE THE COMPENSATION OF THE EXECUTIVE DIRECTOR ON AN ANNUAL BASIS.</ExplanationTxt>
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      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>990 PART III LINE 1</FormAndLineReferenceDesc>
        <ExplanationTxt>THE BARACK OBAMA FOUNDATION (THE "FOUNDATION") IS A NONPROFIT FOUNDATION WHICH WAS ESTABLISHED TO PLAN AND DEVELOP A PRESIDENTIAL CENTER TO ENGAGE IN ACTIVITIES REFLECTING PRESIDENT OBAMA'S AND THE FIRST LADY'S VALUES AND PRIORITIES THROUGHOUT HIS CAREER IN PUBLIC SERVICE: EXPANDING ECONOMIC OPPORTUNITY, INSPIRING AN ETHIC OF AMERICAN CITIZENSHIP, AND PROMOTING PEACE, JUSTICE AND DIGNITY THROUGHOUT THE WORLD. THE FOUNDATION ENVISIONS A PRESIDENTIAL CENTER THAT, THROUGH ITS MISSION, INITIATIVES, AND PHYSICAL AND VIRTUAL PRESENCE, ADVANCES AND INTERPRETS THE THEMES OF CIVIC ENGAGEMENT, GLOBAL PERSPECTIVE, HEALTH AND WELLNESS, ENVIRONMENTAL STEWARDSHIP, PUBLIC EDUCATION, A SPIRIT OF INNOVATION, AND WILL BECOME AN ANCHOR FOR ECONOMIC DEVELOPMENT AND CULTIVATE A STRONG RELATIONSHIP WITH THE CENTER'S SURROUNDING COMMUNITY. THE PRESIDENTIAL CENTER WILL HOUSE THE PRESIDENTIAL LIBRARY, AS WELL AS A MUSEUM AND A BROADER CAMPUS. THE PRESIDENTIAL LIBRARY WILL BE CREATED UNDER THE PRESIDENTIAL LIBRARIES ACT OF 1955 AND NATIONAL ARCHIVES AND RECORDS ADMINISTRATION (NARA) GUIDELINES. THE FOUNDATION ANTICIPATES NEGOTIATING A JOINT USE AGREEMENT WITH NARA REGARDING THE OPERATION OF A PORTION OF THE PRESIDENTIAL CENTER.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION B, LINE 11</FormAndLineReferenceDesc>
        <ExplanationTxt>THE 990 IS PROVIDED TO AND REVIEWED BY THE FOUNDATION'S BOARD MEMBERS BEFORE FILING.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION B, LINE 12C</FormAndLineReferenceDesc>
        <ExplanationTxt>THE FOUNDATION REQUIRES ALL DIRECTORS TO REVIEW AND SIGN A CONFLICT OF INTEREST DISCLOSURE STATEMENT ON AN ANNUAL BASIS. THE FOUNDATION'S LEGAL COUNSEL REVIEWS THE DISCLOSURES AND WORKS WITH THE BOARD OF DIRECTORS TO RESOLVE ANY DISCLOSED CONFLICTS.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION B, LINE 15A</FormAndLineReferenceDesc>
        <ExplanationTxt>THE BOARD OF DIRECTORS USES COMPARABILITY DATA TO REVIEW AND APPROVE THE COMPENSATION OF THE EXECUTIVE DIRECTOR ON AN ANNUAL BASIS.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION C, LINE 18</FormAndLineReferenceDesc>
        <ExplanationTxt>THE FOUNDATION MAKES ITS EXEMPT STATUS APPLICATION AND FORM 990 AVAILABLE FOR PUBLIC INSPECTION UPON WRITTEN REQUEST. THE FOUNDATION'S FORM 990 IS ALSO AVAILABLE ON THE FOUNDATION'S WEBSITE AND GUIDESTAR'S WEBSITE.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION C, LINE 19</FormAndLineReferenceDesc>
        <ExplanationTxt>THE FOUNDATION MAKES ITS GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY AVAILABLE UPON WRITTEN REQUEST. THE FOUNDATION'S AUDITED FINANCIAL STATEMENTS ARE AVAILABLE ON THE FOUNDATION'S WEBSITE.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART IX, LINE 11G</FormAndLineReferenceDesc>
        <ExplanationTxt>HR CONSULTANT: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 2,500. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 2,500. RECRUITING FEES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 61,833. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 61,833. PROGRAMMING CONSULTANTS: PROGRAM SERVICE EXPENSES 500,000. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 500,000. OTHER: PROGRAM SERVICE EXPENSES 35,132. MANAGEMENT AND GENERAL EXPENSES 7,991. FUNDRAISING EXPENSES 744. TOTAL EXPENSES 43,867. REAL ESTATE CONSULTANTS: PROGRAM SERVICE EXPENSES 65,000. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 65,000. ACADEMIC CONSULTANT: PROGRAM SERVICE EXPENSES 10,250. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 10,250.</ExplanationTxt>
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</Return>