Florida United Methodist Foundation Inc

“The foundation made the following significant changes to its bylaws in 2015: 1. Provided that actions by written consent must be unanimously approved by all members; 2. Required that a director attend no less than 50% of regular board meetings, at least one of which in person, and no less than 50% of meetings of committees to which he or she is assigned each year; 3. Changed the officers of the foundation so that the assistant treasurer is no longer an officer; 4. Gave the secretary attestation rights for board officer legal transactions; 5. Gave the vice president of finance and administration authority to sign as one of the two signers for banking purposes; 6. Added the following to the list of responsibilities of the audit committee: a)oversight to the preparation of any reports, returns or filings made with state of federal tax authorities on behalf of the foundation, and b) assurance that the records are retained in accordance with applicable laws and best practices for non-profit organizations. 7. Clarified the foundation's conflict of interest policies as detailed in the explanation to part vi, section b, line 12c.”

“The foundation is a related, but separately organized, entity with the primary purpose of serving the florida annual conference of the united methodist church. Members of the foundation are the lay and clergy members of the florida annual conference.”

“The corporate members of the foundation elect the board of directors at an annual meeting of the florida united methodist foundation.”

“The tax return was prepared by an independent tax accountant using the audit and information furnished by staff. The audit committee of the foundation reviewed the draft of the tax return with staff and the tax accountant, and approved the final draft. The final draft of the tax return will be presented by the audit committee to the board of directors at their next meeting for approval. Upon approval by the board the tax accountant will receive documents signed by the board of directors and the president of the foundation. The tax accountant will submit the tax return electronically.”

“The foundation has a conflict of interest policy that is presented annually to both the staff and board of directors to review. The staff and board of directors complete and sign a form indicating any conflicts and an understanding of the policies. These forms are kept on file. As clarified by the changes to the bylaws in 2015, if a board member or officer has an interest in a particular transaction, he or she is still counted when determining a quorum for the board meeting. He or she may also vote on the transaction. The approval of the transaction will not be null and void if the board member or officer disclosed the conflict of interest to the board prior to the vote, and if the transaction would still have been approved without counting the interested person's vote.”

“The executive committee of the foundation serves as the compensation committee for the president and other officers. During 2015 the foundation hired an independent human resource consultant to provide compensation ranges for all staff including the president and key employees. This report was provided to the executive committee. The independent consultant utilized various local, regional and national salary guide databases.”

“The governing documents and conflict of interest policy are available upon written request. Tax returns and financials are available upon signed written request and also available upon email request from our website. In an attempt to "go green," the foundation offers the offering circular upon request on the website in electronic form. The printed form is available upon request-either verbal, written or electronic. The offering circular describes the foundation's work assisting agencies, districts and churches primarily of the florida annual conference of the united methodist church with endowment investments and loans through the foundation's development fund. It also includes the foundation's annual audit and performance of funds. The foundation also mails its annual report or an annual newsletter to all constituents, which highlights its financials for the year. The annual report and newsletter are also available online at the foundation's website. Current audited financials are part of the printed offering circular and are sent out with any request or distributed circulars even by email.”

“Change in present value of future interest in trusts -65,629.”

“The corporation is formed exclusively for charitable and religious purposes and to promote and support the mission of the florida annual conference of the united methodist church under the provisions of chapter 617, florida statutes, and not for pecuniary profit or financial gain. The specific purposes for which the corporation is organized are as follows: a. To act as trustee, to administer trusts, to receive and administer funds for religious, charitable, and educational purposes, and to that end to take title to and hold, by contract, bequest, devise, gift, purchase or lease, either absolutely or in trust, any property, real, personal and mixed, without limitations as to amounts or value, except as to such limitations, if any, as may be imposed by law; b. To receive, administer and participate in charitable remainder trusts, unitrusts and other like trusts, to the extent this corporation is lawfully permitted to do so; to sell, convey and dispose of any such property and to invest and reinvest the principal and income thereof, and to deal with and expend the principal and income of this corporation for any of the aforementioned objects and purposes, without limitation, except as to such limitations, if any, as may be contained in the instrument under which such property is received or other limitations imposed by law; c. To receive deposits from local churches and other organizations and institutions of the florida annual conference of the united methodist church or florida residents as may be permitted or authorized by applicable law; to pay interest on such deposits; to lend money to local churches, organizations, institutions and district agencies related to the united methodist church or agencies of the florida annual conference; d. To receive any property, real, personal or mixed in trust, under the terms of any will, trust or other instrument for the foregoing purposes or any of them, and in administering same to carry out the directions and exercise the powers contained in the trust instrument under which the property is received, including the expenditure of the principal, as well as the income, for one or more of such purposes, if authorized or directed in the trust instrument under which it is received; to receive, take title to, hold, and use the proceeds and income of stocks, bonds, obligations, or other securities of any corporations or corporation, domestic or foreign, only for the foregoing powers, or any of them; e. To acquire, receive and accept, by way of grant, gift, devise, bequest, purchase, lease or otherwise, money and real and personal property of every kind, nature and description, without limitation as to amount or value, including securities (which term, for all purposes hereof, includes without limiting the generality thereof, shares of stock, bonds debentures, notes, mortgages or other obligations, and any certificates, receipt or other instruments, representing any rights or interest therein or with respect thereto) created or issued by any person, firm, association, corporation or government or subdivision thereof; to exercise as owner or holder of any such property any and all rights, powers and privileges in respect thereof, to hold, administer, sell, convey, dispose of, invest and reinvest such property and the income and proceeds thereof; to use, apply or disburse any of its property or the income or the proceeds thereof, exclusively for or toward any one or more of its purposes as listed herein; f. To solicit the donation or investment of funds from boards, agencies, and institutions affiliated with the florida annual conference of the united methodist church and from individual residents of the state of florida; to receive, hold, invest, reinvest, and administer such funds and other property which may be given, transferred, conveyed or entrusted to it in an investment fund or mortgage pool; to issue receipts to such donors and holders of participation certificates, notes or debentures fo”