Renew Communities Nfp

“The Corporation shall have one Member. The sole Member shall be Christ Church Lake Forest. No other classes of membership shall be permitted in the Corporation. The Member shall be entitled to one vote on each matter reserved to the Membership. More specifically, the approval of the Member shall be required for the following actions of the Corporation: 1. Any merger, dissolution, or liquidation of the Corporation; 2. Any amendments to the Articles of Incorporation or bylaws; 3. The creation of subsidiary corporations; 4. The sale, pledge, lease, or other transfer of any corporate assets exceeding $100,000; 5. The adoption of the Corporation's annual operating budget; 6. Appointment and number of Directors to the Corporation's Board of Directors; 7. Removal of Directors to the Corporation's Board of Directors In addition, when requested, the Corporation's Board of Directors, through its designated Officers, shall promptly provide copies of all minutes of Board meetings and resolutions to the Elder Board Chair of the Member, and copies of financial and operational reports, as requested from time to time by the Member.”

“See the narrative for Form 990, Part VI, Section A, Line 6.”

“See the narrative for Form 990, Part VI, Section A, Line 6.”

“Form 990 is prepared by an independent CPA firm and reviewed in detail by the organization's Treasurer. The reviewed Form 990 is then provided to the board of directors prior to filing with the IRS.”

“The organization requires all officers and board members to annually complete and sign a conflict of interest questionnaire. The Secretary is responsible for reviewing the signed statements and ensuring that interested persons are in compliance with the conflict of interest policy. The Executive Director reviews the Secretary's signed statement. Should any potential conflicts of interest be disclosed, the board member or officer would be asked to refrain from participation in any deliberation or decision with regard to matters affected by the relationship.”

“The organization does not compensate any officers or key employees. Therefore, these lines were answered "no" in accordance with the instructions.”

“The governing documents, conflict of interest policy and financial statements are available upon request.”

“Compensation reported in Part VII, column E and Schedule J, Part II, column B is the amount reported on the individual's W-2, box 1 or 5 (whichever amount is greater) per the IRS instructions. In the case of minister's compensation when box 5 of the W-2 is not applicable, box 1 compensation is used. Employee deferrals to qualified retirement plans are normally captured in box 5, not box 1 of Form W-2. For reporting purposes we have included the minister's retirement plan deferrals in Part VII, column F and Schedule J, Part II, column C.”

“Consulting fees: Program service expenses 93,975. Management and general expenses 10,318. Fundraising expenses 2,040. Total expenses 106,333.”

“The organization's Board assumes responsibility for oversight of the audit of its financial statements and selection of its independent accountant. This process has not changed since the prior year.”