The Equal Rights Center

“The form 990 is prepared by the outside accountants of the organization. Management reviews the form 990, and then it is presented to the board for review and approval.”

“Directors and employees are asked to voluntarily disclose any appearance of conflicts. When there is a potential conflict of interest, the affected director recuses himself from deliberations concerning the matter and the remaining board members decide what is in the best interest of the organization with respect to the transaction in question.”

“The compensation of the executive director is reviewed by the erc's board of directors with any adjustments considered and approved by the erc board. The most recent review of the executive director's compensation was in april 2020. The compensation of all erc staff, excluding the executive director, is set by the executive director in consultation with the erc board of directors.”

“Audited financial information is available in the organization's annual report which is available on its own website and upon request. The organization's form 990 is available on its website and upon request. Governing documents and the conflict of interest policy of the organization are available upon request.”

“The equal rights center is amending its return for the year 2021. The audit of its financial statements had not been completed by the time of the due date of the tax return, and consequently it is amending the return for changes that are reflected on the audited financial statements. The main differences between the original return and this amended return are as follows: donated services of 1,723,173 were recorded on the audited financial statements both as revenue and expense. While donated services are not recorded on the 990, they are reflected on schedule d, parts xiii and xiv as reconciling items. The functional allocation of expenses changed, and so the part ix functional allocation agrees to the final audited financial statements (total expenses did not change). There were also minor adjustments to part viii revenue (totaling 5,498), increasing unrestricted net assets by that amount, and also some reclassifications between assets and liabilities on part x. As a result of these changes, there were also modifications to part iii total program services, and schedules a, b & d of the return.”

“In 2021 erc received loan proceeds in the amount of $160,013 under the paycheck protection program. The promissory note calls for monthly principal and interest payments amortized over the term of the promissory note with a deferral of payments for the first six months. Under the coronavirus aid, relief, and economic security act (cares act), the promissory note may be forgiven by the small business administration in whole or in part. Erc used the loan proceeds for purposes consistent with the paycheck protection program and applied for forgiveness after completing the 24-week period stipulated by the terms of the loan.”