2024-11-16T12:06:59-06:00 2023-12-31 200794302 MBE CPAS LLP 954 E 2ND AVE 201 DURANGO CO 81301 990 2023-01-01 841118878 DURANGO ADULT EDUCATION CENTER DURA 9703854354 701 CAMINO DEL RIO 301 DURANGO CO 81031 SUSAN HAKANSON EXECUTIVE DIRECTOR 9703854354 2024-11-15 1 0 RYAN WEBER CPA P01299128 6083567733 2024-11-15 2023 2024-10-15 13:58:12Z SUSAN HAKANSON 701 CAMINO DEL RIO 301 DURANGO CO 81031 906488 0 X WWW.DURANGOADULTED.COM X 1990 CO 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, POSTSECONDARY EDUCATION, AND SOCIAL AND ECONOMIC MOBILITY 11 11 25 22 0 0 763759 898605 4501 5006 151 1646 965 -6157 769376 899100 48036 43773 0 0 538558 532031 0 0 23279 202693 300778 789287 876582 -19911 22518 1880922 1850045 60816 7421 1820106 1842624 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, POSTSECONDARY EDUCATION, AND SOCIAL AND ECONOMIC MOBILITY 0 0 809338 43773 5006 DAEC STUDENTS CONTINUED TO MEET OR EXCEED ALL EDUCATIONAL GOALS AS SET BY STATE AND FEDERAL GRANT STANDARDS. DAEC HAS CONTINUED TO FILL POSITIONS WITH HIGHLY QUALIFIED AND EXCELLENT STAFF, AND NUMBERS CONTINUE TO CLIMB BACK TOWARDS PREPANDEMIC LEVELS. THROUGH EXCELLENT PROGRAMS, A QUALIFIED AND DEDICATED STAFF AND BOARD OF DIRECTORS, PRUDENT AND CAREFUL BUDGETING AND FINANCIAL PRACTICES, DAEC WILL CONTINUE TO ENSURE THAT THESE IMPORTANT PROGRAMS CONTINUE TO THRIVE. 809338 1 0 0 0 0 0 0 0 1 0 1 1 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1 0 0 0 1 0 0 25 1 0 0 0 0 0 0 0 0 0 0 X 11 11 0 0 0 0 0 0 0 1 1 0 0 1 0 1 1 1 0 0 CO X X X SUSAN HAKANSON 9703854354 701 CAMINO DEL RIO SUITE 301 DURANGO CO 81301 KATHLEEN PIERSON TREASURER 2.00 X X 0 0 0 ALISON AICHELE DIRECTOR 1.00 X 0 0 0 DEAN BROOKIE DIRECTOR 1.00 X 0 0 0 MATTHEW GOMEZ PRESIDENT 2.00 X X 0 0 0 BRUCE LECLAIRE SECRETARY 2.00 X X 0 0 0 VIRGINIA MILLER-CAVANAGH DIRECTOR 1.00 X 0 0 0 ALISON WILLIAMS DIRECTOR 1.00 X 0 0 0 PATRICK COLEMAN DIRECTOR 1.00 X 0 0 0 NATAMBU OBLETON VICE PRESIDENT 2.00 X X 0 0 0 SUSAN HAKANSON EXECUTIVE DIRECTOR 40.00 X 68084 0 0 68084 0 0 0 0 0 0 0 595298 303307 898605 TUITION AND FEES 611710 5006 5006 5006 1646 1646 0 7388 -7388 -7388 REFUNDS/REIMBURABLE IN 900099 1231 1231 1231 899100 7883 0 -7388 43773 43773 68084 50382 11574 6128 397368 377480 13003 6885 25845 23757 1365 723 40734 37444 2151 1139 42531 39096 2246 1189 925 850 49 26 36797 33825 1943 1029 65042 59798 3425 1819 2912 2677 154 81 5819 5349 307 163 REFUND OF GRANT 121204 111415 6400 3389 UTILITIES 13695 12589 723 383 TELEPHONE 5053 4645 267 141 BANK FEES 2963 2724 156 83 3837 3534 202 101 876582 809338 43965 23279 345300 282767 227703 184468 2780 2780 50268 125159 4157 4157 39119 39119 0 0 1245502 1245502 5212 5212 1880922 1850045 54345 1675 6471 5746 60816 7421 X 1717869 1740387 102237 102237 1820106 1842624 1880922 1850045 22518 0 X 0 0 0 X 0 1 21193 21193 0 17926 17926 0 0 EQUITY INVESTMENT IN SIEC 1245502 C 1245502 X PART X, LINE 2: THE ORGANIZATION IS A NOTFORPROFIT, VOLUNTARY HEALTH AND WELFARE ORGANIZATION AND IS EXEMPT FROM INCOME TAX AS PROVIDED UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, EXCEPT ON NET INCOME DERIVED FROM UNRELATED BUSINESS ACTIVITIES. THE ORGANIZATION ADOPTED ACCOUNTING REQUIREMENTS THAT PRESCRIBE WHEN TO RECOGNIZE AND HOW TO MEASURE THE FINANCIAL STATEMENT EFFECTS OF INCOME TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON ITS INCOME TAX RETURNS, INCLUDING THE POSITION THAT THE ORGANIZATION CONTINUES TO QUALIFY TO BE TREATED AS A TAX-EXEMPT ORGANIZATION FOR BOTH FEDERAL AND STATE INCOME TAX PURPOSES. THESE RULES REQUIRE MANAGEMENT TO EVALUATE THE LIKELIHOOD THAT, UPON EXAMINATION BY RELEVANT TAXING JURISDICTIONS, THOSE INCOME TAX POSITIONS WOULD BE SUSTAINED. BASED ON THAT EVALUATION, IF IT WERE MORE THAN 50% PROBABLE THAT A MATERIAL AMOUNT OF INCOME TAX WOULD BE IMPOSED AT THE ENTITY LEVEL UPON EXAMINATION BY THE RELEVANT TAXING AUTHORITIES, A LIABILITY WOULD BE RECOGNIZED IN THE ACCOMPANYING STATEMENT OF FINANCIAL POSITION ALONG WITH ANY INTEREST AND PENALTIES THAT WOULD RESULT FROM THAT ASSESSMENT. WHEN THE ORGANIZATION HAS UNRELATED BUSINESS INCOME, THE FEDERAL EXEMPT ORGANIZATION BUSINESS INCOME TAX RETURNS (FORM 990T) WOULD BE SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE FOR THREE YEARS AFTER THEY ARE FILED. SHOULD ANY PENALTIES AND INTEREST BE INCURRED, THEY WOULD BE RECOGNIZED AS MANAGEMENT AND GENERAL EXPENSES. BASED ON THE RESULTS OF MANAGEMENT'S EVALUATION, THESE REQUIREMENTS DID NOT HAVE A MATERIAL EFFECT ON THE ORGANIZATION'S FINANCIAL STATEMENTS. CONSEQUENTLY, NO LIABILITY IS RECOGNIZED IN THE ACCOMPANYING STATEMENTS OF FINANCIAL POSITION FOR UNCERTAIN INCOME TAX POSITIONS. 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE ORGANIZATION'S POLICY IS INCLUDED IN MATERIALS PROVIDED TO STUDENTS DURING REGISTRATION. SCHEDULE E, PART I, LINE 6 THE ORGANIZATION RECEIVES FISCAL SUPPORT FROM DURANGO SCHOOL DISTRICT 9R ANNUALLY THROUGH AN MOU TO TO ASSIST STUDENTS FROM THE DISTRICT TO COMPLETE A HIGH SCHOOL EQUIVALENCY. THE ORGANIZATION RECEIVES FISCAL SUPPORT FROM LA PLATA COUNTY, THE CITY OF DURANGO, AND THE COLORADO DEPARTMENT OF EDUCATION TO ASSIST STUDENTS TO COMPLETE HIGH SCHOOL EQUIVALENCY OR TO IMPROVE ENGLISH LANGUAGE SKILLS. 0 SCHOLARSHIPS 16 43112 COST ASSISTANCE TO STUDENTS 5 661 COST SW INSTITUTE EDCONS-SIEC 50% SUBSIDIARY 65580 RENT/UTILITIES 1 FORM 990, PART VI, SECTION B, LINE 11B THE BOARD TREASURER AND EXECUTIVE DIRECTOR REVIEW THE FORM 990 AND APPROVE THE FINALIZING OF THE FORM 990. THE BOARD OF DIRECTORS ARE PROVIDED A FINAL FORM 990. FORM 990, PART VI, SECTION B, LINE 12 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. FORM 990, PART VI, SECTION B, LINE 15A 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 NOTFORPROFIT 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 LOWBUDGET TRAVEL. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES IS GOVERNING DOCUMENTS, POLICIES AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST BY THE PUBLIC. SOUTHWEST INSTITUTE FOR ED AND CONSERV 701 CAMINO DEL RIO STE 101 DURANGO CO 81301 208365069 RENTAL CO 501(C)(25) N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 PART II, LINE 1 IN JULY 2018, THE ORGANIZATION ENTERED INTO A LEASE AGREEMENT FOR OFFICE AND OPERATING SPACE IN DURANGO, COLORADO, WITH SOUTHWEST INSTITUTE FOR EDUCATION AND CONSERVATION (SIEC). DURANGO EDUCATION CENTER HOLDS A 50% OWNERSHIP INTEREST IN SIEC AND IS CONSIDERED A RELATED PARTY.