National Dance Institute Nm Inc

“Staff prepares schedules for the audit firm to prepare the form 990. After the 990 is completed by the audit firm, ndi new mexico senior staff reviews the form. After any adjustments are made, the audit and finance committees then review the form 990. After any additional adjustments are made, the board of directors receives a public disclosure copy of the form and is provided the opportunity to review and/or suggest changes. A meeting of the board is held to approve the 990. If additional changes are requested, the finance and audit committees are authorized to conduct a final review to ensure that the document is complete and accurate. Only after this is the form filed.”

“The board has a board governance committee. In the absence of a conflicts committee, the governance committee acts as a conflicts committee. Members are asked annually to disclose any conflicts. The governance committee evaluates any conflicts and determines whether they are material. If the governance committee concludes that a financial interest constitutes a material conflict of interest, the board of directors shall determine by vote of the disinterested directors in accordance with the by-laws whether the transaction, contract or arrangement is in ndi-new mexico's (ndi-nm's) best interest and for its own benefit and whether it is fair and reasonable to ndi-nm (considering known factors, including whether or not a more advantageous transaction or arrangement is reasonably possible under circumstances not producing a conflict of interest), and shall make its decision as to whether to enter into the transaction, contract or arrangement in conformity with such determination. The interested director shall abstain from the vote and deliberations.”

“The executive director's salary is reviewed and approved by the executive compensation committee of the board of directors. The compensation committee reviews comparable data in determining compensation and seeks approval from the board of directors. This process is documented and was last done in august 2024. The executive director sets salaries for officers and key employees as part of the annual budget process. Comparable data from similar-sized organizations is used to help determine these salaries. The budget is then reviewed by the finance committee and approved by the board of directors. This process is documented and was last done in august 2024.”

“The organization's governing documents, conflict of interest policy, and financial statements are provided upon request - typically to grant-making and government funding sources.”

“Other professional fees: program service expenses 199,563. Management and general expenses 607,760. Fundraising expenses 99,782. Total expenses 907,105.”

“Partnership passthrough income not reported in financial statements -18,941.”