Florida United Methodist Foundation Inc

“During 2017 the foundation's articles of incorporation was amended and recorded with the state to expand the mission to include other religious not for profits organized as 501(c)(3) entities whose mission complements and supports a wesleyan focus on abundant grace and shared commitment to making disciples of jesus christ for the transformation of the world.”

“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. The consultant provided compensation ranges for all staff including the president and key employees in 2015 and 2017. This report was provided to the executive committee. The independent consultant utilized various local, regional and national salary guide databases. In 2016 the consultant reviewed the proposed changes to salaries.”

“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 51,631.”

“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; 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 offer debt securities the proceeds of which to fund loans made to churches, individuals, entities, agencies and other organizations the foundation serves; to lend money to local churches, organizations, institutions and agencies related to the florida annual conference of the united methodist church or the united methodist church, or to churches, agencies, districts, schools, organizations and charities whose mission complements and supports a wesleyan focus on abundant grace and shared commitment to making disciples of jesus christ for the transformation of the world; 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 method”