Woodway Supporting Foundation 8

“The organization has as its sole member, the greater houston community foundation, a texas nonprofit corporation. The following matters are reserved to the member and shall require affirmative action of the member to be effective: (a) merger, acquisition or consolidation of the corporation. (b) borrowing or lending of money or the creation of indebtedness through the guaranty of another's debt or similar action. (c) removal of one or more members of the board of directors. (d) imposing any restriction on the corporation to prevent it from losing its status as a nonprofit organization under the u.s. Tax code.”

“The decisions that require affirmative action of the members are detailed in the above anwser to part vi, line 6.”

“The organization does not have any committee with authority to act on behalf of the governing body.”

“The final document was distributed via e-mail to the board members for review prior to filing. The controller and tax manager of the greater houston community foundation initially review the 990. Upon the resolution of any questions raised by these individuals and any changes that result from this review, the completed document is then distributed to the principal officer for their review. Once reviewed by this individual, and updated with any changes, a finalized copy is provided to this individual for final review and approval, prior to distribution to the board.”

“The conflict of interest policy is distributed to all directors, non-director committee members, and employees annually. They are asked to acknowledge receipt by returning a signed acknowledgment. When discussion occurs and/or votes are taken in committee and/or board meetings and a member indicates a conflict of interest, such conflicts are noted in the minutes of the meeting and the member abstains from any vote taken.”

“Copies of the certificate of formation, bylaws, and conflict of interest policy may be obtained by calling the office. The organization's financials are not separately audited. A copy of the consolidated audited financial statements for the related organization, the greater houston community foundation, may be requested by calling the office.”