Greater Houston Community Foundation

“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 the affirmative actions 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 organization to prevent it from losing its status as a nonprofit organization under the u.s. Tax code.”

“The member and their rights are described in the note 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 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.”

“The board of directors established an executive search committee and hired an outside executive search firm in march 2023 to hire the president. Compensation was approved by the board, with data from comparable organizations used. The deliberations and decision were documented.”

“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 financials for the related organization, greater houston community foundation, may be requested by calling the office.”

“During 2024, the board of directors decided to spin off and create their own 501(c)(3) organization, as opposed to working as a supporting organization to the greater houston community foundation. As a result, this organization will no longer by working toward the establishment of a museum for latino art and culture in houston, texas.”

“Almaahh fund is a co-employer with insperity through woodway supporting foundation 13 of the greater houston community foundation and does not file form w-3. Insperity files this form under its tax identification number.”

“Other professional fees: program service expenses 16,540. Management and general expenses 5,415. Fundraising expenses 120,082. Total expenses 142,037.”