Rhode Island Latino Arts Inc

“The Form 990 was prepared by the RILA's Executive Director using the organization's accounting records and financial reports. When possible, the Executive Director reviews the draft with the Board Treasurer, who is familiar with the organization's finances through regular budget review meetings. The Treasurer then reviews the return and shares it with the full Board of Directors for review prior to filing. All board members are given the opportunity to review the return and ask questions before it is submitted.”

“The organization maintains a written conflict of interest policy. Board members and officers are required to disclose any potential conflicts of interest upon joining the Board. They affirm in writing that they will notify the organization promptly if a conflict arises during their term. Board members are asked annually to complete a disclosure form identifying any potential conflicts of interest. Any disclosed conflict is reviewed by the Board of Directors, and the affected individual recuses themselves from discussion and voting when appropriate.”

“RILA makes its Forms 990 available on the Candid (GuideStar) website and provides copies upon request. Governing documents, conflict of interest policy and financial statements are available upon request.”

“As in Line 18, through the years RILA has made all its governing documents available to the public during the tax year through the Candid (GuideStar) online platform and other publicly accessible nonprofit information databases. Copies of the return are also available upon request. This includes conflict of interest policy and financial statements available.”

“The amount reported on Line 9 reflects timing differences related to grant funding, including operating and project support grants received in late 2024. Under the organization's cash accounting method, these funds were recognized as revenue in 2024 but were not fully expended until 2025. As those funds were used for program and operating expenses in 2025, the timing difference between revenue recognition and expenditures resulted in an adjustment to net assets.”

“This figure includes payments to teaching artists, actors, directors, muralists, oral history consultants and other independent contractors supporting our program delivery.”

“The amount reported on Line 9 shows timing differences between prior-year grant funds and program funds carried over into the current year and the revenue recognized during the tax year. Certain funds received in prior periods remained in organizational accounts at the beginning of the year and were expended during the current year. This adjustment reconciles the organization's beginning and ending net asset balances with the activity reported for the tax year.”