Fairhope Single Tax Corporation

“Fred watkins, director and teresa watkins, trustee are married to each other.”

“All officers, directors and trustees are elected by the members.”

“Decisions by the governing body may be annulled within 30 days, if 10 of members so request and majority of members vote affirmatively. Member of governing body may be removed at any time, if 20 of members so request and majority of members vote affirmatively.”

“The secretary and the treasurer review the tax return. A copy is also furnished to each of the corporations directors prior to filing.”

“Disclosure statement for conflicts of interest are submitted annually by each officer, director and trustee”

“Compensation is reviewed and approved by the finance committee and the board of directors.”

“Governing documents, conflict of interest policy and financial statements are available at the corporations office at the front desk.”

“The corporation is recognized as tax exempt under section 501c4 of the internal revenue code as a social welfare organization. Its purpose shall be to establish and conduct a model community or colony, free from all forms of private monopoly and to secure its members therin equality of opportunity, the full reward of individual efforts and the benefits of cooperation in matters of general concern. The corporation owns approximately 4,400 acres of land, which it leases for a variety of purposes, residential, commercial, agricultural and municipal. The corporation is financially supported through rents from the lease of its land holdings. The largest portion of the rent collected is the ad valorem tax portion, which is paid to the local tax collector. The remaining rent is used to pay administrative expenses, various community improvements and charitable contributions.”

“The organization has not changed its oversight process or selection process during the year.”