El Education Inc

“The organization is exempt from federal and state income taxes under section 501(c)(3) of the internal revenue code and new york state not-for-profit corporation law, respectively, and qualifies for the charitable contribution deduction. The organization accounts for uncertainty in income taxes using a recognition threshold of more likely than not to be sustained upon examination by the appropriate taxing authority. Measurement of the tax uncertainty occurs if the recognition threshold is met. Management has determined that there were no tax uncertainties that met the recognition threshold at the statement of financial position date and no interest or penalties related to unrecognized tax benefits have been recognized in the organization's financial statements. The organization timely files federal form 990 annually and new york state annual reports as required. The organization's filing years prior to august 31, 2020 are no longer subject to examination. No returns or registrations are presently under examination by the relevant authorities.”

“Change in allowance 55,442.”

“The organization's endowment consists of two individual funds established to provide financial support to the operations of the organization. Its endowment includes both donor-restricted endowment funds and funds designated by the board of directors to function as endowments. As required by gaap, net assets associated with endowment funds, including funds designated by the board of directors to function as endowments, are classified and reported based on the existence or absence of donor-imposed restrictions. The board of directors of the organization has interpreted the new york prudent management of institutional funds act ("nypmifa") as requiring the preservation of the fair value of the original gift as of the gift date of the donor-restricted endowment funds absent explicit donor stipulations to the contrary. As a result of this interpretation, the organization classifies those net assets with donor restrictions that are perpetual in nature as (a) the original value of gifts donated to the permanent endowment, (b) the original value of subsequent gifts to the permanent endowment, and (c) accumulations to the permanent endowment made in accordance with the direction of the applicable donor gift instrument at the time the accumulation is added to the fund. The remaining portion of the donor-restricted endowment fund that is not classified in net assets with donor restrictions that are perpetual in nature is classified as net assets with donor restrictions that are temporary in nature until those amounts are appropriated for expenditure by the organization in a manner consistent with the standard of prudence prescribed by nypmifa. In accordance with nypmifa, the organization considers the following factors in making a determination to appropriate or accumulate donor-restricted endowment funds: (1) the duration and preservation of the fund (2) the purposes of the organization and the donor-restricted endowment fund (3) general economic conditions (4) the possible effect of inflation and deflation (5) the expected total return from income and the appreciation of investments (6) other resources of the organization (7) the investment policies of the organization”