Seabrook Island Property Owners

“The corporation is a homeowners' association consisting of 2,586 residential lots. Owners are automatically granted membership in the association upon purchase of their lot.”

“When a property owner decision is needed, the board of directors prepares and distributes the appropriate referendum to all members for a vote. Prior to the annual meeting of property owners, a four member elections committee consisting of property owners not on the board of directors or nominating committee are appointed by the president to verify and certify the validity of ballots cast, and tabulations of votes cast for elections, on any other matter voted on at such meeting, or ballots in any referendum. The election committee reports its findings to the secretary as soon as practical following a referendum, or the annual meeting, or special meeting at which a vote is taken. Property owners have the exclusive authority to amend and/or repeal bylaws, elect the board of directors and nominating committee, to accept or reject the annual budget, and to approve the borrowing of money and certain other property transactions. A majority of members in good standing must vote in favor of an action in order for it to be approved.”

“Property owners have the exclusive authority to amend and/or repeal bylaws, elect the board of directors and nominating committee, to accept or reject the annual budget, to approve special assessments, and to approve the borrowing of money and certain other property transactions.”

“The cfo reviews the 990 and provides a copy to the board of directors before approving it to be filed.”

“Each year, all board members are required to sign a form indicating their understanding of the conflicts of interest policy and their compliance with it. In the event of a potential conflict during the year, the interested board member shall recuse himself/herself from all discussions and vote on the matter.”

“The board's executive committee reviews and approves compensation of the executive director annually. Included in the examination is the review of personnel evaluations and comparison of the employee's salary range to that of similar positions in like organizations. All decisions are documented. The executive director reviews the performance of department directors and recommends salary adjustments to the executive committee. Salary survey information for comparable positions in similar market areas is included with the recommendations. The executive committee then approves or adjusts the salary recommendations while documenting the decisions.”

“Governing documents, conflict of interest policy, and financial statements are made available to the public on the association's website: www.sipoa.org”

“Buildings: program service expenses 526,819. Management and general expenses 131,705. Fundraising expenses 0. Total expenses 658,524. Lake house: program service expenses 477,162. Management and general expenses 119,291. Fundraising expenses 0. Total expenses 596,453. Infrastructure: program service expenses 185,666. Management and general expenses 46,417. Fundraising expenses 0. Total expenses 232,083. Vehicles: program service expenses 73,362. Management and general expenses 18,340. Fundraising expenses 0. Total expenses 91,702. Hurricane recovery: program service expenses 35,818. Management and general expenses 8,955. Fundraising expenses 0. Total expenses 44,773.”

“The process has not changed.”