North Carolina Veterinary Medical Foundation Inc

“The executive committee consists of the officers, the immediate past president, and ten other members of the board of directors. The secretary and treasurer of the corporation shall serve in an advisory capacity only and shall be non-voting members of the executive committee. Terms of all members of the executive committee shall coincide with the terms of their qualifying respective offices or designations; provided further, however, that the immediate past president shall be a non-voting member of the executive committee unless he is also a member of the board of directors. The executive committee, in the interims between the meetings of the board of directors, shall exercise all powers of the corporation, included all of the powers that have been conferred upon it or upon the board of directors, except that the executive committee shall have no power or authority to (a) authorize distributions; (b) approve dissolution, merger or sale, pledge or transfer of all or substantially all of the corporation's assets; (c) elect, appoint or remove directors, or fill vacancies on the board or on any of its committees; or (d) adopt, amend or repeal the articles of incorporation or these bylaws. The presence of six members of the executive committee at any regular or special meeting of said committee shall constitute a quorum for the transaction of business.”

“The treasurer of north carolina state university and a senior administrative officer of nc state who is also ex-officio treasurer of the corporation shall have voting power.”

“The form 990 is reviewed by the audit and investment committee and a copy of the form 990 is provided to all members of the governing body prior to filing.”

“Any corporate transaction in which a director has a direct or indirect interest must be authorized, approved, or ratified in good faith by a majority, not less than two of the directors who have no direct or indirect interest in the transaction even though less than a quorum; provided, however, no such transaction shall be authorized, approved, or ratified by a single director. A director has an indirect interest in a transaction if: (a) another entity in which he has a material financial interest or in which he is a general partner is a party to the transaction; or (b) another entity of which he is a director, officer, or trustee is a party to the transaction and the transaction is or should be considered by the board.”

“The board of directors and officers of north carolina veterinary medical foundation that receive compensation are compensated by nc state university, a 115(1) organization related to north carolina veterinary medical foundation. Nc state university sets the compensation of these employees by acquiring comparability data which is reviewed and approved by independent persons with contemporaneous substantiation of the decision.”

“The form 990 is listed on the website. The form 1023 (which was filed prior to july 15, 1987) is not publicly available.”

“The audited financial statements are available on the website: https://aeoperations.ofa.ncsu.edu/north-carolina-veterinary-medical-foundati on-inc/. Other governing documents are available upon request.”

“Https://aeoperations.ofa.ncsu.edu/north-carolina-veterinary-medical-foun dation-inc/”

“During the fiscal year ending 6/30/2025, the organization sold tangible personal property that had been received as a charitable contribution. The form 8282 to report the disposition of the property will be filed during the fiscal year ending 6/30/2026.”

“Change in value of split interest agreements -5,209.”