Dumas Education Foundation Inc.

“Board members are volunteers who have been approved for service by the board of directors”

“A copy of this return is provided to the treasurer and members of the board of directors at the board of directors meeting where the audit report is presented. The treasurer, who is a cpa, reviews and approves the tax return. After he has approved the tax return, the treasurer sighns the authoriztion for electronic filing of the tax return and returns it to the preparer or signs ther return and mails it to the irs. The preparer files the return electronically.”

“Members of the board of directors and employees must disclose the existence of financial interest and are given the opportunity to disclose all material facts to the executive director and members of the board. The interested party may not take part in the discussion of the conflict. The remaining board or committee members decide if a conflict of interest exists. After exercising due diligence, the board or committee determines whether dumas educaiton foundation inc can obtain with reasonable efforts a more advantageous transactions or arrangement from a person or entity that whould not give rise to a conflict of interest. If a more advantageous transcation or arrangement is not reasonably possible under circumstances not producing a conflict of interest, the board or committee shall determine by a majority vote of the disinterested board memebers whether the transaction or arrangement is in dumas education foundation inc's best interest and whether it is fair and reasonable. If the board of directors determines that a board memeber has failed to disclose an actual or possible conflict of interest, the board may take apprpriate disciplinary and corrective action.”

“Financial records are maintained at the office of the board treasurer and are available to the public upon request. Other records, including governing documents, are maintained at the office of dumas education foundation inc and are available to the public upon request.”

“Contributed services do not meet the criteria for recognition of services in the financial statements. Many individuals bolunteer their time and perform a variety of tasks that assist dumas education foundation inc”

“To promote education in dumas, texas, by awarding grants to teachers and scholarships to students in the dumas independent school system.”