Poder

“At the end of the fiscal year, an external CPA will prepare the annual return for organization exempts from income tax (IRS form 990). The return will be presented to the president/CEO, the board finance committee, and the board chair for their review and approval. The president/CEO will then file the return with the internal revenue service by the annual deadline. All other appropriate government filings including those required by the state tax board and attorney generals office will be completed and filed with the appropriate agency.”

“Audited financial statements, tax returns, and other documents are available to the public upon request. The audit report and tax returns are also available on PODERs website.”

“The process has not changed from the prior year.”

“PODER requires all officers and board members to complete and sign a conflict of interest statement. The board chair is responsible for reviewing each signed statement and ensuring each person is in compliance with the current conflict of interest policy. PODERs president/CEO reviews the board chairs signed statement. If an actual or potential conflict of interest is determined to exist, PODER will take such steps as it deems necessary to eliminate this conflict.”

“Part XI Line 9: During fiscal year 2024, the Organization initiated a mural project and incurred $16,000 in costs related to planning and design. Due to uncertainties regarding project funding and commencement at that time, these costs were recognized as expenses. In fiscal year 2025, the Organization secured sufficient funding and successfully completed the project at a total cost of $40,000.Upon completion, management determined that the full scope of the project, including the initial design phase, met the criteria for capitalization under U.S. GAAP. Accordingly, the $16,000 previously expensed in fiscal year 2024 has been recorded as a capital asset. This resulted in an increase to net assets without donor restrictions and building improvements in FY25.”

“Part X Column (A), Lines 23 and 24: A beginning-of-year balance of $586,974 was reclassified from Line 24 to Line 23 to more properly reflect the nature of the amount. This reclassification has no impact on the organizations total liabilities or net assets.”