Latinos in Transit

“The 990 form is prepared by the Board Treasurer and once completed, it is reviewed by the Board Secretary, Co-Chair of the Finance & Audit Committee. After the initial review, it is shared with the President and Vice President for additional review. Once this review is complete, it is shared with the Board of Directors during the monthly meeting.”

“Compliance to adhere to Conflict of Interest Policy is discussed by the Board during monthly meetings and it is part of the LIT Bylaws adopted in 2016 and updated in 2019 and 2020. Board Officers are responsible to adhere to the Conflict of Interest Policy at all times.”

“The Conflict of Interest Policy is part of Latinos In Transit By Laws, under Article VI and this is shared upon request. The policies will also be noted on the website once it is updated. In December 2021, the Board will also adopt a Conflict of Interest Policy that each Board Member will have to sign on an annual basis.”

“The 2020 990 was filed via US Mail on May 14, 2021. As a volunteer Board Member, the Treasurer had been filing paper returns for years 2017, 2018 and 2019 and was unaware the IRS changed to electronic filing on July 2020. IRS sent notification that 990 had not been received and duplicate paper filing was sent via Next Day delivery on October 18, 2021. It was not until we received the original filing sent on May 14, 2021 back in the mail on December 4, 2021, stating of the Electronic Filing Requirement that the error was caught. The electronic filing was done immediately. We ask for understanding of this oversight. The organization will be using a professional tax preparer for the December 2021 990 filing.”

“Latinos In Transit (LIT) was formed in 2016 and its's mission is to advocate for Latinos and other minorities in the public transit industry to be promoted to Chief-Level positions. Minorities make the largest users of public transit in the U.S. and yet the C-Level positions currently do not reflect this around the country. LIT advocates and provides a platform to engage Latinos to network and obtain professional development as well as training opportunities. 2020 was a challenging year due the COVID-19 global pandemic. All in person events were cancelled and we were not able to host any networking events. Our 2020 Leadership Summit which was our flagship program in 2019, was postponed and therefore we were not able to bring any program revenue. The only revenue we received was from corporate partners supporting our mission. The Board approved the 2021 Budget with the idea that 2021 would bring program revenue. The Board also adopted a Strategic Plan and implemented committees let by the volunteer Board Members. The Finance & Audit Committee is led by the Board Treasurer and Board Secretary and reviews all financials each month before sharing with the entire Board. The Board receives a financial report and a copy of the bank statement each month which is approved during the monthly Board Meeting. As the organization continues to grow, the Board will be contracting and Audit firm to conduct and independent audit. LIT has been in existence for five years and is operated completely by a volunteer Board of Directors and other industry volunteers. The COVID-19 global pandemic did bring opportunities for LIT. In April 2020, the LIT Board launched a monthly virtual event called "Cafe Con LIT" which features transit professinals discussing different topics. The event has gained many followers and we've had as many as 100 attendees. The event is free and it provides a informal platform for discussion. During Hispanic Heritage Month, LIT held a virtual symposium and feauture transit leaders from throughout the country. Sponsors were contacted to support this event.”