Southeast Fiber Arts Alliance Incorporated

“SEFAA had 12 organizational members, 2 business members, and 224 individual members at the end of 2024. Memberships are good for a full year from the date of payment and are rolling, rather than calendar year memberships. Annual membership dues are $60 for individuals (discounted to $15 for students and $55 for members of SEFAA member organizations) and $100 to $300 for organizations and businesses depending on their size. Members elect SEFAA's Board of Directors but do not approve Board decisions or share in the Corporation's earnings.”

“Per Paragraph 7.2.2 of SEFAA's Bylaws, Directors are elected at the Annual Meeting of Members held in February each year. Approximately half of the director positions are up for election annually.”

“A copy of this completed form 990 including all schedules and backup documentation was emailed to the SEFAA Board of Directors on 4/15/2025. Board members then voted unanimously to approve the return for submission to the IRS via a Google form. The voting results can be found at https://drive.google.com/file/d/1g3Hfw1ZvxSHEW27WGl0yax_EM8Rdh6ze/view?usp=sharing.”

“Article 11.6 of SEFAA's Bylaws states: Each director, principal officer, and member of a committee with governing board delegated powers shall annually sign a statement which affirms such a person: 11.6.1 has received a copy of the conflict of interest policy; 11.6.2 has read and understands the policy; 11.6.3 has agreed to comply with the policy, and 11.6.4 understands the corporation 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. The completed forms are uploaded to the Board of Directors' Google Shared Drive. Hard copies are maintained by the Corporation's Board President.”

“Article 11.5.4.2 of SEFAA's Bylaws states: All members of the board or compensation committee who approve compensation arrangements must not have a conflict of interest with respect to the compensation arrangement as specified in IRS regulation Section 53.4958-66(c)(ii). Article 11.5.4.3 of SEFAA's Bylaws states: The board or compensation committee shall obtain and duly rely upon appropriate data as to comparability prior to approving the terms of compensation. Appropriate data is described in 11.5.4.3.1 through 11.5.4.3.5. Article 11.5.4.4 of SEFAA's Bylaws states: The terms of compensation and basis for approving them shall be recorded in written minutes of the meeting of the board or compensation committee that approved the compensation. The details of the required documentation are specified in 11.5.4.4.1 through 11.5.4.47. This process was explicitly followed when we hired our first part-time employee on 7/1/2022.”

“The SEFAA website (fiberartsalliance.org) has links to the organization's corporation registration, charitable organization registration, IRS determination letter, Bylaws, annual reports, and Form 990 returns. The organization's Form 990 returns are also available at guidestar.org and by request.”

“Assets are increased by library donations which total $3,119.00 minus donations of art = -427.00 for a total increase of $2,692.00. This amount was decreased by $18.82 to account for error in 2023 assets and increased by $1 to account for rounding errors, so asset increase = $2,674.18.”