Cambridge Multicultural Arts Center Inc

“The organization provides for both individual and corporate memberships.”

“The completed form 990 is provided to the board of directors for review and approval before electronic filing with the internal revenue service.”

“Compensation for the organization's executive/managing director and key employees is part of the budgeting process for the board of directors. Comparability data is used as part of the budget determination process. The board of directors determines the approved budgeted payroll figures annually.”

“The organization's form 1023 and its tax returns (form 990) are made available upon request. In addition, the organization's financial statements and tax returns are available at the website of the massachusetts attorney general. The organization's tax returns are also available at the guidestar website.”

“The organization's governing documents, conflict of interest policy and financial statements are made available upon request.”

“Artist fees: program service expenses 7,250. Management and general expenses 0. Fundraising expenses 0. Total expenses 7,250. Other professional fees: program service expenses 0. Management and general expenses 7,595. Fundraising expenses 0. Total expenses 7,595. Outside labor: program service expenses 3,771. Management and general expenses 0. Fundraising expenses 0. Total expenses 3,771. Payroll service fees: program service expenses 0. Management and general expenses 2,549. Fundraising expenses 0. Total expenses 2,549.”

“Bank charges: program service expenses 0. Management and general expenses 1,523. Fundraising expenses 0. Total expenses 1,523. Repairs & maintenance: program service expenses 300. Management and general expenses 1,082. Fundraising expenses 0. Total expenses 1,382. Security: program service expenses 1,321. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,321. Dues & subscriptions: program service expenses 0. Management and general expenses 1,007. Fundraising expenses 0. Total expenses 1,007.”

“Change in accounting method for fasb asu 2014-09 -47,825.”

“Change in accounting method: the organization has adopted the provisions of fasb asu 2014-09, revenue from contracts with customers, for its fiscal year ended june 30, 2021. Accordingly, beginning net assets without restrictions has been restated to reflect the adoption of asu 2014-09 and the related fasb asc 606 requirements.”

“Responsibility for oversight: the organization's board of directors is responsible for selection of an independent accountant and oversight of the audit or review of the organization's financial statements.”