Home Building Industry Disaster Relief

“Hbidrf shall have not less than three (3) directors nor more than nine (9) directors. The number of directors is set from time to time by resolution of the directors. Each director shall hold office until the next annual meeting of the directors and until his successor shall have been elected and qualified, unless removed at a meeting called expressly for that purpose by the majority of the directors. Directors serve for a term of one year. Any vacancy occurring in the board may be filled by the affirmative vote of a majority of the remaining directors even if less than a quorum.”

“There are no committees with authority to act on behalf of the governing body.”

“The form 990 is reviewed by the financial services department of the national association of home builders of the united states and emailed to the board of directors of the home buiding industry disaster relief fund for review before it is filed with the internal revenue service.”

“In connection with any actual or possible conflict of interest, an interested person must disclose the existence of the financial interest and be given the opportunity to disclose all material facts to the governors and members of committees with governing board delegated powers considering the proposed transaction or arrangement. After disclosure of the financial interest and all material facts, and after any discussion with the interested person, he/she shall leave the governing board or committee meeting while the determination of a conflict of interest is discussed and voted upon. The remaining board or committee members shall decide if a conflict of interest exists. When a conflict of interest is found, i. An interested person may make a presentation at the governing board or committee meeting, but after the presentation, he/she shall leave the meeting during the discussion of, and the vote on, the transaction or arrangement involving the possible conflict of interest. Ii. The chairperson of the governing board or committee shall, if appropriate, appoint a disinterested person or committee to investigate alternatives to the proposed transaction or arrangement. Iii. After exercising due diligence, the governing board or committee shall determine whether the association can obtain with reasonable efforts a more advantageous transaction or arrangement from a person or entity that would not give rise to a conflict of interest. Iv. If a more advantageous transaction or arrangement is not reasonably possible under circumstances not producing a conflict of interest, the governing board or committee shall determine by a majority vote of the disinterested governors whether the transaction or arrangement is in the association's best interest, for its own benefit, and whether it is fair and reasonable. In conformity with the above determination it shall make its decision as to whether to enter into the transaction or arrangement. Each governor, principal officer and member of a committee with governing board delegated powers shall annually sign a statement which affirms such person: i. Has received a copy of the conflict of interest policy, ii. Has read and understands the policy, iii. Has agreed to comply with the policy, and iv. Understands the association is charitable and in order to maintain its federal tax exemption it must engage primarily in activities which accomplish one or more of its tax-exempt purposes. If the governing board or committee has reasonable cause to believe a member has failed to disclose actual or possible conflicts or interest, it shall inform the member of the basis for such belief and afford the member an opportunity to explain the alleged failure to disclose. If, after hearing the member's response and after making further investigation as warranted by the circumstances, the governing board or committee determines the member has failed to disclose an actual or possible conflict of interest, it shall take appropriate disciplinary and corrective action”

“The organization's governing documents and financial statements are made available to the public upon request, on a case by case basis.”