Mary Free Bed Guild Fund

“The sole corporate shareholder of the organization is mary free bed guild of grand rapids, michigan.”

“Approval of mary free bed guild of grand rapids, michigan in its capacity as sole corporate shareholder shall be required: a. To change the purpose or philosophy of the corporation; b. To amend the articles of incorporation or bylaws of the corporation; c. To dissolve or liquidate the corporation; d. To merge or consolidate with another corporation; e. To remove the trustees of the corporation; f. To create or acquire a new subsidiary corporation, or to sell or otherwise dispose of existing subsidiaries; g. To purchase, sell, lease, or mortgage, or to dispose of any real property owned, held or leased by the corporation; h. To guarantee the debt of others by the corporation; i. To adopt any long-range plan of the corporation; j. In other cases where required by law.”

“The form 990 is reviewed by the cfo prior to filing and reveiwed and signed by fund president. After completion of the return, return will be posted to an internal website portal for all board members to review before filing.”

“Conflict of interest policies are updated annually by all board members, officers, and staff. Process is administered out of the executive administration office. Any disclosed conflicts of interest would be disclosed to the board of directors for enforcement of the conflict of interest policy and assurances obtained that no illegal or subsidized activities are occurring. If a conflict of interest is exposed, the individual who is the subject of the conflict is excused from the meeting so the rest of the board may discuss the issue and take appropriate action.”

“Governing documents and conflict of interest policy are not available for public inspection. Financial statements are summarized in an annual report which is available to the public.”

“Transfer from mary free bed rehabilitation hospital 1,316,967.”

“There has been no change in process from prior year.”