Opportunity Knocks Inc

“Opportunity knocks, inc. Affiliated with allies, inc. Effective july 1, 2015 where allies, inc. Became a sole member of opportunity knocks, inc. Bylaws were expanded from having 7 articles to 10 articles and several sub sections. The most significant changes were: 1.) fiscal year change to june 30. 2.) allies, inc. Became a sole member of opportunity knocks, inc. And retained reserve powers to vote on specific actions of the organization. 3.) number and tenure of trustees expanded and exceptions documented. 4.) description, roles and responsibilities of committees added 5.) new paragraphs were added to the bylaws as listed below under explanation for line 7b.”

“Allies, inc. Is the sole member of opportunity knocks, inc.”

“Allies, inc., by virtue of being the sole member of opportunity knocks, inc., has the power to appoint board members of opportunity knocks, inc.”

“Reservation of powers. Except as otherwise required by law or the articles of incorporation, the power and authority of the corporation shall be vested solely in, and all the business and affairs of the corporation shall be managed under the direction of the board of trustees of the corporation; provided, however, that the following powers are not delegated by the sole member to the board of trustees of the corporation, but are reserved to the member (the "reserved powers") and may be exclusively exercised directly by the member, or may be exercised by the board of trustees of the corporation only with the specific consent or approval of the member: a. To change the mission, philosophy, objectives or purposes of the corporation; b. To amend the articles of incorporation or bylaws of the corporation; c. To change the fiscal year of the corporation; d. To approve the annual operating and capital budgets of the corporation; e. To approve any variance from the operating budget or the capital budget exceeding ten percent (10%) which has not been approved by the chief executive officer, chief operating officer or chief financial officer of the member; f. To add or terminate any line or location of business of the corporation without the approval of the chief executive officer, chief operating officer or chief financial officer of the member; g. To select an auditor for the preparation of annual financial statements; h. To purchase insurance other than as part of the member's group of insureds; i. To take any action which would affect the non-profit, tax-exempt status of the corporation; j. To purchase or sell real estate, or to approve any leasing of the corporation's property to any other person or organization which might pose a reputation or risk threat; k. To intervene in the event that the member determines that the corporation's standard of care is maintained at a level which varies materially from the member's standard of care; l. To elect or remove any member of the board of trustees of the corporation; m. To dissolve or liquidate the corporation; n. To merge or consolidate the corporation; o. To approve creation of any subsidiary organization or affiliation of the corporation with any other entity for the purpose of the joint conduct of business or other programs whether in the form of participation in a corporation (either through the holding of stock or by membership),partnership, joint venture, co-tenancy or any other form of ownership or control; p. To approve mortgages, trust deeds or other liens on any real property assets of the corporation other than to secure refinancings which have been approved as provided below; q. To sell or otherwise transfer all or substantially all of the assets of the corporation or any other assets of the corporation whose aggregate fair market value exceeds $100,000, or to sell or otherwise transfer any subsidiary or affiliate of the corporation; r. To approve the incurrence of any indebtedness or series of indebtedness, either of which exceeds $100,000, or to approve any guarantee of any indebtedness or series of indebtedness, either of which exceeds $100,000 other than a) an indebtedness or a guarantee of $100,000 to $250,000 which has been approved by the by the chief executive officer or chief financial officer of the member, or b) as part of a refinancing which has been approved by the chief executive officer or chief financial officer of the member; s. To approve submission of an application for any grant, loan or license from any governmental agency or other authority which might result in the imposition of any conditions or requirements potentially inconsistent with the philosophy and mission of the member; t. To hire or terminate and to determine the compensation of the president/chief executive officer, giving consideration to the recommendation of the chief executive officer of the member; and to hire or terminate and to determine the compensation of the chief financial officer”

“The form 990 is presented to the executive director, assistant executive director/finance, and the board of trustees.”

“The board of trustees and management will annually review and sign off on the policy as well as address any conflicts that occurred.”

“The organization uses comparable data from a salary survey of other not for profit organizations to help determine compensation.”

“The organization makes its form 990 available to the public upon request.”

“The organization will make all documents available to the public upon request.”

“The process has not changed from the prior year.”