La Posada Foundation

“La posada at park centre inc provides administrative support to the foundation.”

“The corporation has one member, la posada communities, which shall have exclusive authority over the organization.”

“The sole member, la posada communities, shall have the authority to make or approval all governing decisions of the organization.”

“The corporation has one member, la posada communities, which shall have exclusive authority over the organization.”

“The 990 return is prepared by an outside accounting firm and reviewed in detail by the organization's cfo.”

“Each trustee shall disclose to the board of trustees any known conflicting interest such trustee or any of such trustee's related persons have with respect to a transaction effected or proposed to be effected by the corporation, by a subsidiary of the corporation, or by any other entity in which the corporation has a controlling interest. Any trustee with a conflicting interest must make the following required disclosures: a) the existence and nature of the conflicting interest; and b) all facts known to the trustee respecting the subject matter of the transaction that an ordinarily prudent person would reasonably believe to be material to a judgment about whether or not to proceed with the transaction. Any trustee having a conflicting interest shall abstain from voting on the proposed transaction and shall not be counted in determining the quorum for the vote on the proposed transaction. In addition, he or she shall not use his or her personal influence on the matter, but may briefly state his or her position on the matter and may answer pertinent questions from other trustees since his or her knowledge may be of great assistance. Pursuant to the provisions of arizona nonprofit corporation act ("anca"), a vote of the majority of the members of this corporation having no conflicting interest (each a "disinterested trustee") with respect to a proposed transaction may approve a proposed transaction in which a trustee has a conflicting interest. The minutes of the meeting involving any such conflicting interest shall reflect whether the required disclosures were made, whether the trustee with the conflicting interest abstained from voting, and the quorum situation. All capitalized terms used in this article and not otherwise defined in these bylaws shall have the meaning set forth in sections 10-3860 to 10-3864 of the anca. This article is intended to supplement, but not replace, any applicable federal or state laws governing conflicts of interest, including but not limited to sections 10-3860 to 10-3864 of the anca. A) the board of trustees may, in its discretion adopt a comprehensive conflict of interest policy to supplement or supersede this article; provided, however, that any such conflict of interest policy shall be no less stringent than the provisions of this article or the anca.”

“The organization's articles of incorporation, by-laws, and conflict of interest policy are made available to the public upon request. The current financial statements and conflict of interest policy are available in the organization's library.”