Wisconsin Credit Union Foundation Inc

“The wisconsin credit union league, a wisconsin nonprofit corporation, is the sole member of the foundation. The league has the sole vote on each matter submitted to a vote of the members. It exercises its membership rights through its governing body, which may by resolution authorize one or more of its officers or any other person so designated in the resolution to exercise its votes on any member matter.”

“The foundation's directors are appointed by the directors of wisconsin credit union league, who are elected by the league's member credit unions. The appointed directors serve a one-year term and can serve no more than nine consecutive terms.”

“The following actions require prior authorization or approval of the governing body of wisconsin credit union league: a) merger, consolidation or dissolution of the foundation; b) amendment or restatement of the articles of incorporation or bylaws of the foundation; c) sale, lease, exchange, or other disposition of all, or substantially all, the property and assets of the foundation; d) establishment, formation, acquisition, merger, consolidation, or dissolution of any subsidiary corporation of the foundation; e) adoption of the annual operating and capital budgets of the foundation; f) approval of aggregate borrowings not previously included in the operating and/or capital budgets, including but not limited to lease agreements and contracts for sale; g) purchase, sale, lease, disposition, hypothecation, exchange, gift, pledge, and encumbrance of any assets; h) appointment of any independent auditor or corporate counsel; i) authorizations related to indemnification under the bylaws; j) any action that would affect the tax-exempt status of either the foundation or league; and k) action on any matter that is determined to be under the control of the league under the articles of incorporation, the bylaws, or the wisconsin statutes.”

“The prepared form 990 is reviewed by the wisconsin credit union league chief financial & operating officer. Management provides the form to the members of the governing body for review at the regular meeting of the governing body after the form 990 is filed with the irs.”

“Annually all directors and officers complete and sign a statement that provides information regarding their interests and those of their family members that could give rise to conflicts. The members of the governing body make determinations of whether a conflict exists and review actual conflicts. Any person with a conflict is prohibited from participating in the governing body's deliberations and decisions in the transaction.”

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