First3Years

“Updated title from Executive Director to Chief Executive Officer and updated language for their review and performance. Within the section for Elected Officers, the Board voted to allow flexibility for electing new members throughout the year, and updated officer term limits to align with the Texas Business Organizations Code. In the section for Committees, the Board voted to update committees that better align with current use of committees. For Board meetings, updates included setting minimum number of meetings to be held throughout the year, and that nominees can be brought to the Board at any regular meeting.For Ex Officio Board Members, language was updated to note Ex Officio terms and rights on the Board. A new bylaw was added to allow for Board members to attend meetings utilizing electronic media.For Election and Term of Office, the Board voted to update language to note the process of electing Board members, and requirements for written notice of a nomination vote. Updated language to include a president-elect as part of the Executive Committee.Within Amendments, it was approved to add annual review of the bylaws by the Governance Committee, a Conflict with Applicable Law or Certification of Formation clause, and an Indemnification clause.”

“The Finance Committee reviews the audit report and Form 990 before presenting to the Board of Directors for approval.”

“The Board Secretary and CEO are responsible for collecting annual disclosures, reviewing transactions or relationships that might involve a conflict of interest, and ensuring compliance with the Conflict of Interest Policy.”

“The Board uses comparability data from non-profit surveys to establish the compensation of the CEO. Approval of CEO compensation is documented in Board minutes. The CEO is responsible for determining compensation of other employees based upon similar comparability data. The overall personnel budget is reviewed and approved as a part of the annual organizational budgeting process.”

“Governing documents, conflict of interest policy and financial statements are made available to the public upon request.”

“The net economic benefit from our fundraising events is calculated as follows:Contributions from fundraising events reported on Part VIII, line 1c $ 59,498Gross income from fundraising events reported on Part VIII, line 8a 7,040Less: Direct costs of events reported on part VIII, Line 8b (14,153) Net economic benefit of fundraising events $ 52,385”