Legacy Revitalization Corp

“Organization employs a property management company to manage the rental activity.”

“First baptist church of downey, the church, acting through the church elders, is the corporation's sole member.”

“Directors are elected as necessary by the member, acting through the church elders.”

“A director may be removed from office, with or without cause, by the member, acting through the church elders.”

“There are no committees with authority to act on behalf of the governing body.”

“The form 990 is reviewed by the board members prior to filing the return with the irs.”

“Legacy revitalization corp has a conflict of interest policy around self-dealing transactions, defined as a transaction in which the corporation is a party and one or more directors has a material financial interest. A self-dealing transaction is valid only if all of the following are met: a. The corporation entered the transaction for its own benefit. B. The transaction is fair and reasonable to the corporation at the time it is entered. C. All material facts of the director's interest are disclosed to the board before approval. D. The transaction is approved in good faith by a majority of the directors then in office, excluding the vote of the interested director(s), with knowledge of the material facts. E. The board determines that, under the circumstances, no more advantageous arrangement could have been obtained with reasonable effort, or in fact was not obtainable. The board minutes must record the interested director(s) and the nature of their interest; that the interested director(s) were excluded from voting; the board's deliberation and determinations; and the action taken by the board.”

“The governing documents, conflict of interest policy, and financial statements are available to the public upon request.”