Arverne East Phase 1 & Phase 2 Inc

“The organization amended its bylaws during 2024 as follows: the number of directors may not exceed eleven directors and may be increased or decreased by action of the member or the board of directors. Any two or more offices may be held by the same person except the office of president and secretary. The secretary or any assistant secretary shall, when duly authorized by the board of directors, sign and execute all contracts in the name of the corporation. Directors and officers of the corporation shall be indemnified to the fullest extent now or hereafter permitted by law in connection with any actual or threatened action or proceeding (including civil, criminal, administrative or investigative proceedings arising out of their service to the corporation and/or to any other organization at the request of the corporation.”

“The sole member of the organization is housing partnership development corporation.”

“As the sole member, housing partnership development corporation has the power to elect the members of the governing body.”

“Any director may be removed for cause at any time by a vote of the majority of the board of directors present at a meeting of directors at which a quorum of not less than a majority is present and at which such action is taken or by the sole member. The corporation's certificate of incorporation may be amended at any meeting of the board of directors, at which a quorum is present, by a vote of a majority of the directors present or by unanimous written consent of the board of directors, subject to approval of the sole member. The board of directors may amend or repeal the bylaws at any meeting of the board of directors, at which a quorum is present, by a vote of the majority of the directors present or by unanimous written consent of the board of directors, subject to approval of the member.”

“The organization did not hold any board meetings during the tax year.”

“There are no committees who can act on behalf of the board.”

“The organization has its form 990 prepared by an outside accounting firm and has established the following review process to ensure that the information reported is complete and accurate. When the form 990 has been prepared, reviewed by management and is ready to be filed with the internal revenue service, it is electronically sent to the board for approval. Once the board has approved the return it is filed with the internal revenue service.”

“The organization's form 990 is available for public inspection as required under section 6104 of the internal revenue code. The return is posted on guidestar.org and other similar types of websites. In addition, articles of incorporation, form 990, and bylaws are also available upon written request or by calling the organization directly.”