Mary Lee Foundation

“Number, qualifications, and tenure of directors: the powers of the corporation shall be exercised by or under the authority of, and the property, business and affairs of the corporation shall be managed under the direction of a board of not less than three (3) and not more than fifteen (15) directors, as may be determined by the board of directors from time to time, provided that the number of directors shall not be decreased to less than three (3) and that no decrease in the number of directors shall have the effect of shortening the term of any incumbent director. A minimum of two (2) directors must be a family member of a client of southpointe, or have a family member who has special needs. One (1) director must be a resident of a low-income neighborhood, other low-income community, or elected representative of a low-income neighborhood organization. Each director shall serve for a term of three (3) years and their election shall be staggered so that one-third of the directors are elected each year. Each director may be reelected for unlimited additional terms. Quorum: a majority of the number of directors then in office shall constitute a quorum for the transaction of business at any meeting of the board of directors. The directors present at a duly called or held meeting at which a quorum is present may continue to transact business even if enough directors leave the meeting so that less than a quorum remains. However, no action may be approved without the vote of at least a majority of the number of directors required to constitute a quorum. If a quorum is present at no time during a meeting, a majority of the directors present may adjourn and reconvene the meeting one time without further notice. Audit review committee. The corporation shall have an audit review committee that works with the treasurer. The board of directors shall appoint three (3) directors to serve on the audit review committee. The purpose of the audit review committee shall be to: (a) to oversee an annual compilation, review and/or audit of the corporation's financial records conducted by a certified public accountant as appointed by the treasurer and approved by the board. (b) to oversee an adequate accounting system that will accurately record the financial transactions and condition of the corporation. (c) to work with the treasurer and president in presenting a yearly financial budget for the approval of the board of directors. The yearly financial budget must be approved by a vote of at least two-thirds (2/3) of the board of directors. (d) to work with the treasurer in presenting a monthly report to the board of directors regarding the financial condition of the corporation. (e) to see that all special and designated funds are used for the purpose for which they were designated.”

“During the fiscal year, there are no separate committees to act on behalf of the governing body.”

“Form 990 is reviewed by the controller and select directors. Any questions raised by the organization are resolved with the preparer prior to filing.”

“The compensation of the executive director is reviewed periodically and approved by independent board members after evaluation of duties and responsibilities and review of comparable nonprofit organizations.”

“The organization makes its governing documents and financial statements available to the public upon request.”

“Other professional services: program service expenses 45,597. Management and general expenses 34,532. Fundraising expenses 0. Total expenses 80,129. Maintentance contract services: program service expenses 526,122. Management and general expenses 5,337. Fundraising expenses 0. Total expenses 531,459. Medical, dental & nutritionist services: program service expenses 549,269. Management and general expenses 0. Fundraising expenses 0. Total expenses 549,269.”

“During the fiscal year 2022, the organization amended its bylaws to create an audit review committee. The audit review committee oversees the annual audit and reviews/approves the draft audit prior to issuance.”