State Funding Devils

“Line 1a explanation - at any meeting of the board, every director entitiled to vote may vote in person. Each director shall have one vote. No proxy shall be allowed.”

“Line 7a explanation - a majority of the members of a committee shall constitute a quorum for the transaction of business at any meeting thereof, and action of any committee must be authorized by the affirmative vote of a majority of the members present at a meeting at which a quorum is present.”

“Line 7b explanation - the board of directors of state funding devils must approve any changes to the maximum number of directors and the method of electing directors.”

“The tax return is circulated with the board of directors and comments and questions are reviewed to make sure our return is true and accurate.”

“To ensure the organization operates in a manner consistent with charitable purposes and does not engage in activities that could jeopardize its tax-exempt status, periodic reviews shall be conducted. The periodic reviews shall, at a minimum, include the following: a. Whether compensation arrangements and benefits are reasonable, based on competent survey information and the result of arm's length bargaining. B. Whether partnerships, joint ventures, and arrangements with management organizations conform to the organization's written policies, are properly recorded, reflect reasonable investment or payments for goods and services, further charitable purposes and do not result in inurement, impermissible private benefit or in an excess transaction.”

“Directors shall be elected by the affirmative vote of a majority of the directors then in office at the annual meeting of the board in the year a vacancy will occur. No incumbent director may cast more than 1 vote in favor of his or her own reflection. Directors of the organization shall not receive compensation for serving as directors. Any compensation paid to an director for personal services rendered to the organization shall be paid only after compliance with the organization's policy governing conflict of interest. However, officers may receive reimbursement for reasonable expenses incurred in connection with corporate matters, provided that such reimbursement is authorized by the board in compliance with the organization's conflict of interest policy. Directors shall be elected by the affirmative vote of a majority of the directors then in office at the annual meeting of the board in the year a vacancy will occur. No incumbent director may cast more than 1 vote in favor of his or her own reflection. Directors of the organization shall not receive compensation for serving as directors. Any compensation paid to an director for personal services rendered to the organization shall be paid only after compliance with the organization's policy governing conflict of interest. However, officers may receive reimbursement for reasonable expenses incurred in connection with corporate matters, provided that such reimbursement is authorized by the board in compliance with the organization's conflict of interest policy.”

“The organization's articles of incorporation, bylaws, conflict of interest policy and financial statements are made available to the public upon request.”