Downtown Parking Management Inc

“The day-to-day parking operations of the company have been contracted out to parking concepts inc. However, the overall management of the organization is still retained by the directors and management.”

“The cedar rapids metro economic alliance (economic alliance) and the cedar rapids downtown self-supported municipal improvement district (downtown ssmid) shall be members of dpmi.”

“The economic alliance shall appoint two directors and the downtown ssmid will appoint two directors.”

“The members shall have the right to remove and fill vacancies of any director position upon majority vote of the members. The articles of incorporation may only be amended with the approval of the members. The bylaws may only be amended by a majority vote of the directors and approval by the members.”

“No committees have the authority to act on behalf of the board.”

“The form 990 was prepared by an independent accounting firm and then a draft was provided to the contract cfo and the economic alliance staff liaison for review. The final draft is provided to the board of directors before filing.”

“The conflict of interest policy applies to all board members, volunteers and employees. There is general discussion periodically with the board concerning potential conflicts of interest. The majority of board members not in conflict make the determination whether a potential conflict is an actual conflict. If an actual conflict arises, it would be resolved to the satisfaction of the entire board and the board member in conflict would recuse themselves from any deliberation and vote.”

“The governing documents, which include the conflict of interest policy, are made available to the public upon request at the economic alliance, located at 501 1st st. Se, cedar rapids, ia 52401. The financial statements are not made available for public inspection.”

“Contracted services - rps: program service expenses 854,806. Management and general expenses 307,464. Fundraising expenses 0. Total expenses 1,162,270. Contracted services - city of cedar rapids: program service expenses 142,206. Management and general expenses 0. Fundraising expenses 0. Total expenses 142,206. Security services: program service expenses 25,716. Management and general expenses 0. Fundraising expenses 0. Total expenses 25,716. Contract labor: program service expenses 111,817. Management and general expenses 7,610. Fundraising expenses 0. Total expenses 119,427.”

“The organization has not changed either its oversight process or selection process during the tax year.”