Black United Fund of Texas Inc

“Black United Fund of Texas, Inc. (BUFTX) follows a structured process for reviewing its Form 990 before filing: Distribution via Email: A draft of Form 990 is prepared by the organization's accounting staff or external tax preparer. The draft is then distributed to all members of the Board of Directors via email for their review. The email includes instructions for board members to carefully review the document and to submit any questions or concerns prior to the board meeting. Board Meeting Discussion: After the draft has been circulated, the board formally reviews the Form 990 during the next scheduled board meeting. During this meeting, any questions or concerns raised by board members are discussed in detail. The board ensures that the Form 990 accurately reflects the organizations financial activities and complies with all reporting requirements. Approval and Filing: Once the board has completed its review and any necessary revisions are made, the board votes to approve the Form 990 for submission. The approved version is then filed with the IRS by the designated staff or tax preparer.”

“Annual Disclosure Statements: All directors, officers, and key employees are required to complete and sign an annual conflict of interest disclosure form. These forms are reviewed by the Audit Committee or the Governance Committee, which ensures that any potential conflicts are disclosed and addressed. Ongoing Monitoring of Transactions: BUFTX reviews all proposed transactions involving Interested Persons, as defined by the Conflict of Interest Policy. Before the organization enters into any contract or arrangement, the Board of Directors or its designated committee examines the transaction to ensure that it does not present a conflict of interest or that any conflict is properly managed. Meeting Minutes Documentation: Conflicts of interest are discussed and addressed during board and committee meetings. The minutes of these meetings document disclosures, discussions, decisions on conflict determinations, and the recusal of any Interested Person from discussions or voting on the matter.”

“During the tax year, Black United Fund of Texas, Inc. (BUFTX) made its governing documents, conflict of interest policy, and financial statements available to the public through the following methods: Public Inspection upon Request: BUFTX allows members of the public to request copies of its governing documents (such as the articles of incorporation and bylaws), conflict of interest policy, and financial statements. These documents are available for review at BUFTXs office during regular business hours. Individuals can submit a formal request by email, phone, or in person. State and Federal Filings: As required by law, BUFTX files Form 990, which includes its financial information, with the IRS. This form is available to the public through the IRS website or on nonprofit databases such as GuideStar.”