Spf Development Corporation

“The board of directors, by resolution adopted by a majority of the directors in office, may designate one or more committees, each of which shall consist of one or more directors, and such other persons as the board of directors may designate. The committees, to the extent provided in said resolution and not restricted by law, shall have and exercise the authority of the board of directors in the management of the corporation; but the designation of such committees and the delegation thereto of authority shall not operate to relieve the board of directors, or any individual director, of any responsibility imposed upon it, him or her by law.”

“Alliance, inc. Acts as the management of spf development corp which is a related and wholly owned entity of alliance, inc. Daily management decisions are made by alliance, inc. Patrick phelan and teresa good perform management duties for this organization. See part vii for their compensation. Spf development corp paid a management fee to alliance, inc. This year of $53,940.”

“The organization has one class of members. The sole member of the corporation is alliance, inc., an illinois not-for-profit corporation.”

“An annual meetings of the member shall be held immediately preceding the meeting of the board of directors of the corporation each year for the purpose of electing directors.”

“A draft copy of form 990 is provided to the governing body (board of directors) for review by the return preparer prior to filing. The organization's director and other members of the accounting department are also provided a copy of the return for their review. If changes are necessary, they are reported to the return preparer and incorporated into the final return.”

“The conflict of interest policy covers employees, directors, officers, and board members. According to the policy, an individual must disclose the existence of the financial interest and be given the opportunity to disclose all material facts to the directors. Once all facts are disclosed, the remaining board will vote on whether a conflict of interest exists. The board will also discuss other alternatives and determine whether the transaction or arrangement is in the organization's best interest and whether it is fair and reasonable. Conflict of interest discussions are documented in the minutes of the board of directors. If the board has reasonable cause to believe an interested person has failed to disclose an actual or possible conflict, it shall inform the person, and give him/her an opportunity to explain the alleged failure to disclose. The board shall then take appropriate action.”

“The organization's governing documents, conflict of interest policy and financial statements are available to the public upon request in writing to the business office.”