The Community at Rockhill

“The sole member of the corporation shall be grace inspired ministries.”

“The directors shall be appointed by the member, grace inspired ministries, at its annual meeting from candidates nominated by the corporation's nominating committee or otherwise selected by the member to begin terms as of the date of the annual meeting.”

“Without the approval of the member, grace inspired ministries, the board may not: (a) make any strategic planning decisions or approve a strategic plan; (b) authorize or engage in any marketing or community education programs; (c) initiate, cease, or significantly modify any fundraising activities or plans for the solicitation of charitable contributions or for the solicitation or acceptance as a gift of any real property or interest therein; (d) change the area served by the corporation; (e) secure tax exempt financing or otherwise borrow more than $10,000 under terms which provide for a repayment period in excess of three months; (f) enter into any leases which would obligate the corporation to make rental payments in excess of $10,000 per year; (g) purchase insurance policies other than policies which comply with any requirement set forth in any agreement entered into by the corporation; (h) undertake any capital expenditures in excess of $5,000 and any capital expenditures involving related projects which, in the aggregate, exceed $25,000; (i) adopt any original or revised capital or operating budgets which would result in any expenditure in excess of $10,000 over anticipated revenue; (j) amend the corporation's articles of incorporation or these bylaws; (k) initiate, cease, or significantly modify any of the corporation's lines of service, products, or programs; (l) sell, relinquish, or otherwise authorize a change in control of more than $50,000 of the assets of the corporation; (m) select, remove, or replace independent accountants and auditors for the corporation; (n) authorize fundamental changes to the corporation, including the adoption of a plan of dissolution of the corporation; the adoption of a plan of merger, consolidation, division, conversion, or affiliation with another entity; and change to the current corporation's corporate organizational structure; (o) authorize and designate officers of the corporation to execute a deed of assignment for the benefit of creditors; file a voluntary petition in bankruptcy; file an answer consenting to the appointment of a receiver; or file an answer to an involuntary petition in bankruptcy; (p) organize or acquire any subsidiary or affiliate; (q) change the corporation's fiscal year; (r) determine to indemnify a representative as provided in section 10.2 of these bylaws; or (s) authorize, approve, amend, or terminate any management contract(s).”

“The form 990 is prepared by an independent accountant and reviewed by the president, vice president of finance and the board of directors before filing.”

“Any director or officer who has an interest in a contract or other transaction presented to the board or a committee for authorization, approval or ratification shall make a prompt and full disclosure of his or her interest to the board or committee prior to its acting on such contract or transaction. The body to which such disclosure is made shall thereupon determine, by majority vote, whether the disclosure shows that a conflict of interest exists or can reasonably be construed to exist. If a conflict is deemed to exist, such person shall not vote on, nor use his or her personal influence on, nor participate (other than to present factual information or to respond to questions) in, the discussions or deliberations with respect to such contract or transaction. Such person shall not be counted in determining the existence of a quorum at any meeting where the contract or transaction is under discussion or is being voted upon. The minutes of the meeting shall reflect the disclosure made, the vote thereon and, where applicable, the abstention from voting and participation, and whether a quorum was present. Annually the board distributes a certification regarding conflict of interest form which must be completed and signed by each board member certifying that all conflicts are disclosed and they are familiar with the organizations policy.”

“The governance committee of the board of directors is charged with annually reviewing the performance and establishing compensation for the ceo. Top management salaries are determined based on review of an annual survey provided by trade association, or external consultation, to ensure compensation is competitive and maintained within fair market range within the industry norms. The approval process for each employee's compensation is documented.”

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

“Change in beneficial interest in perpetual trusts 77,143. Loss on extinguishment of debt -46,675.”