North East Educational Foundation Inc.

“The organization made significant changes to the organizational documents which include amended by-laws. These changes included the addition of board membership - employees shall make up no more than 50 percent of the toal members, eleven directors must be present to constitute a quorum, no more than 5 representatives of the district shall be appointed directors including a member of the neisd board of trustees and the neef executive director, neef executive director shall be appointed by neisd with input by the foundation board of directors before the beginning of a new fiscal year, board directors shall serve for a term of three years with ability to renew, terms of office shall commence july 1st and terminate june 30th, board of directors shall elect governance and nominating committee each year at the final meeting of the fiscal year, officers shall be elected at the final meeting of the fiscal year and shall not be employees or trustees of the district, investment strategies shall be recommened by the investment advisory committee, neef executive director shall be a non-voting member of the board of directors and executive committee, budget approval no later than the final meeting of the fiscal year, executive committee shall meet monthly called by the chairperson of the board or neef executive director, creation of board committees (executive committee, governance & nominating committee, investment advisory committee, development committee, projects committee) and additional wording regarding relationship with north east independent school district.”

“The by-laws state that the board of directors shall elect the officers of the foundation and approve all standing committee members and chairman each year at the first meeting of the school year. Three representatives of the district shall be members of the board, one member being the superintendent of the district and two other staff members appointed by the superintendent. The executive director shall be appointed by the board at any duly noticed meeting.”

“A copy of the form 990 was provided to and reviewed by the treasurer and executive director, who approved prior to the filing.”

“A copy of the governing documents and financial statements are made available to the public upon request.”