Burcham Hills Foundation

“The bylaws were changed to limit the number of directors to not less than five nor more than twelve. Also, the records and books of account are to be audited as required by applicable law.”

“The corporation shall have no members. All corporate actions shall be approved by the board of directors as provided in the bylaws. All rights which would otherwise rest in the members shall rest in the directors. All directors shall be elected by those remaining duly qualified directors.”

“The 990 is initially reviewed by the foundation's executive committee, and then by the foundation's accounting personnel. After any concerns have been addressed, the president signs and files the return.”

“The organization makes available annually its conflict of interest policy and provides directors with an annual questionnaire where they will disclose any actual or potential conflicts of interest. When an actual conflict of interest or potential conflict arises, proposed action is approved by the disinterested members of the board.”

“The organization makes available on guide star's website the form 990 for public inspection. The form 990, along with all governing documents and the conflict of interest policy, are also available upon request. A copy of the form 990 is included with the audited financial statements to the michigan attorney general's office where it becomes public information.”

“Change in value of assets held at capital regional community foundation 40,545. Change in value of annuity -2,433.”

“The executive committee is charged with oversight and responsibility of the audit, review and selection of an independent accountant. They also provide final approval of the draft audit.”