Versability Resources Inc.

“Any individual, organization, or business working with versability to improve the welfare of people with intellectual, developmental and other disabilities may become a member of versability by completing a membership application and paying the annual dues. Employees of versability are eligible for membership and are entitled to the same rights and privileges as are accorded other members except that they shall not vote, hold office or chair committees. A minimum of one general meeting is held per year and 15 votes are required for a quorum.”

“Directors are elected to the board by the membership of versability at any regular or specially-called membership meeting, provided that written notice of the meeting at which the election is to occur is sent to each member at least twenty days in advance of any such meeting. Any vacancies occurring on the board due to a director not completing his/her term may be filled at a board meeting in the following manner: 1. The chair conducts a special election to fill a board position vacancy at a regularly scheduled or specially-called board meeting; and 2. The nominating committee places in nomination the name of a candidate to fill the vacancy. Nominations from directors present shall be permitted. Prior written consent must be obtained from candiates who are not present or who are unable to give verbal consent; and 3. The candidate is duly elected by majority vote of the directors present.”

“Change of bylaws requires 2/3 votes of members in good standing. Dissolution of versability requires 4/5 votes of members in good standing.”

“The cpa firm hired to complete the 990 presents the report to the budget and finance committee. The b&f committee reviews the document and hopefully catches any errors and then the draft is sent to the full board by email. The board is instructed to review the 990 and return any questions or concerns by a certain date prior to filing the return. They are also instructed that no reply equals agreement with the document as is.”

“The organization obtains an annual signed documentation by each member. In the event of a conflict of interest, the director abstains from voting or decisions making processes.”

“The executive committee reviews the ceo's compensation annually for comparability and reasonableness and when deemed necessary, recommends the ceo's compensation amount to the board, and the board then votes on approval. The committee is provided with an analysis of the local equivalent jobs. For other officers, the ceo performs evaluations, and based on performance and cost of living, a percentage is established for the raise. The raise percentage for the entire company is approved in the annual budget.”

“The organization makes its governing documents, conflict of interest policy and financial statements available to the public upon request.”

“Professional services: program service expenses 734,929. Management and general expenses 131,137. Fundraising expenses 20,650. Total expenses 886,716. Contracted services: program service expenses 11,097,899. Management and general expenses 0. Fundraising expenses 0. Total expenses 11,097,899.”

“Bad debt expense -140,290.”