Southeast Michigan Opportunity

“Some officers may have a business relationship with other officers, directors, trustees, or key employees by virtue of their employment by the community foundation for southeast michigan and its related entities.”

“Effective october 21, 2024, southeast michigan opportunity foundation 4 amended its articles of incorporation. The significant changes are as follows: -article i changed organization's name to southeast michigan foundation for public spaces. -article vi decreased the maximum number of directors from thirteen (13) to a maximum of seven (7) directors.”

“The board of trustees of the community foundation for southeast michigan appoints the directors of southeast michigan for public spaces.”

“The organization had no committees with the authority to act on behalf of the governing body.”

“The draft irs form 990 was distributed electronically to all directors for review and comment prior to filing. The draft form 990 was prepared by professional tax preparers prior to the directors' review. Any necessary changes were updated on the form 990. Once all necessary changes were made, it was signed by the president, dated and submitted by the extended filing deadline. A copy of the approved form 990 was provided to all directors before the return was filed.”

“Each director has signed a statement that affirms that such person; 1) has received a copy of the conflict of interest policy, 2) has read and understands the policy, 3) has agreed to comply with the policy, 4) understands that the southeast michigan foundation for public spaces is a charitable organization and that in order to maintain its federal tax-exemption it must engage primarily in activities which accomplish one or more of its tax-exempt purposes.”

“The compensation for richard l. Devore, president of the community foundation for southeast michigan, is set by the related organization. The following steps are taken at the related organization. The individual provides the chair and executive committee of the community foundation with a summary of annual accomplishments. The chair discusses the summary with the executive committee. The executive committee determines the compensation of the foundation president after reviewing comparable compensation information of similarly qualified persons in functionally similar positions from similarly situated organizations with periodic review by independent firms and such decisions are contemporaneously documented as required.”

“The organization makes its financial statements available to the public upon request and also the combined statements appear on the website and in the annual yearbook of cfsem.”

“Starting in september of 2024, southeast michigan foundation for public spaces will support the completion of constructing of public spaces along detroit's riverfront, specifically to support the ongoing construction of the ralph c. Wilson jr. Centennial park.”

“Consulting: program service expenses 0. Management and general expenses 106,361. Fundraising expenses 0. Total expenses 106,361.”

“An audit was conducted on the december 31, 2024 combined financial statements of the community foundation for southeast michigan and its supporting organizations, including southeast michigan opportunity trust. The financial statements were prepared, and the audit was conducted in accordance with u.s. Gaap. An unmodified opinion was issued by the auditor. Oversight was provided by the cfsem audit committee.”