Nebraska City Public Schools Foundation

“In 2024, the foundation amended and restated its articles of incorporation to change its name, remove a requirement that its board of trustees include four members of the otoe county school district no. 111's board of education, permit an alternate charitable disposition of its assets upon dissolution with the consent of the board of education, and conform the manner of amending the articles of incorporation to state law. In 2024, the foundation amended and restated its bylaws to provide that its board of trustees consists of six voting members and two non-voting members, provide that the voting members of the board of trustees will elect their successors, provide that the board of education will appoint the non-voting members, provide that the board of education must approve amendments to the bylaws relating to the non-voting members of the board of trustees, and permit the board of trustees to adopt other amendments to the bylaws.”

“The treasurer compiles the information necessary for a local cpa firm to prepare form 990. The cpa firm provides annual bookkeeping and year-end form 990 filing services. Once the cpa has completed a rough draft of the form it is reviewed with the treasurer and made available for inspection, upon request, by the governing board and all members. The final form 990 is then filed with the internal revenue service.”

“All board members must annually sign an acknowledgement that they have read the foundation's conflict of interest policy and have disclosed any conflicts.”

“The governing documents and financial statements are made available to the members of the organization upon request. The organization does not have a written conflict of interest policy. However, the governing board is cognizant of the fact that conflicts of interest may come about in their day to day business. They deal with conflicts of interest on an item by item basis.”