Durango Education Centerinc

“The board treasurer and executive director review the form 990. Questions and corrections are made with the preparer. The final form 990 then is presented as as part of the financial report sent to board members prior to the next board meeting.”

“At the beginning of each board meeting, each director is asked to disclose potential conflicts of interest and prior to votes for which a conflict might exist. Those directors abstain from voting on the issue.”

“The board of directors reviews and approves the executive director's annual salary, with no participation by the executive director or other interested persons. The executive director's salary is established using comparable data for similarly qualified persons in functionally comparable positions at similar nonprofits, consideration of roles and responsibilities of the executive director, and cost of living data. Comparable market data is obtained from salary surveys and form 990s filed by comparable not-for-profit organizations. Discussions and decisions regarding the compensation are documented in board of directors' meeting minutes. The executive director also receives reimbursements for routine, reasonable, and documented expenses incurred during the year under an accountable plan. The organization has a travel policy that caps reimbursement levels and requires low-budget travel.”

“A line item budget is approved by the board of directors annually. The board approves the overall salaries and benefits expenses. Discussions and decisions regarding the budget are documented in board meeting minutes. The executive director reviews and approves the salaries of other officers or key employees, with no participation by the interested persons, in accordance with the annual budget. The executive director establishes salaries using comparable data for similarly qualified persons in functionally comparable positions at similar nonprofits; consideration of roles and responsibilities of the officer or key employee; and cost of living data. Comparable market data is obtained from salary surveys and form 990s filed by comparable not-for-profit organizations.”

“We consider requests on a case-by-case basis.”

“The mission of durango education center, as a caring learning community, is to fill educational gaps by providing the skills and knowledge necessary for livable wage careers, post-secondary education, and social and economic mobility.”

“Trained volunteers serve as tutors for students. Board of directors serve on volunteer basis.”

“Form 990, part x, lines 27 - 29: the organization has adopted the principles of fasb asu no. 2016-14 (asc 958) for its audited financial statements for the period ended december 31, 2018. To date, form 990 and its associated schedules have not been updated to reflect changes made by this standard. Thus, we have included the net asset categories in our audited financial statements on existing form 990, part x, lines 27 - 29 as follows: net assets without donor restrictions 1,753,376 net assets with donor restrictions 66,949 ---------- total net assets 1,820,325 ========== unrestricted net assets 1,753,376 temporarily restricted net assets 66,949 permanently restricted net assets -- ---------- total net assets 1,820,325 ==========”

“Gain(loss) in siec -30,513”