Woodnext Philanthropies

“The organization has two members, the greater houston community foundation, a texas nonprofit corporation, and a donor member. The following matters are reserved to the ghcf member and shall require the affirmative action of the ghcf member to be effective: (a) appointment of any ghcf director; (b) removal, at any time, in its sole discretion, with or without cause, of any ghcf director; and (c) any amendment to the certificate of formation or bylaws of the corporation that would materially affect the rights, powers and privileges of the ghcf member. The following matters are reserved to the donor member and shall require the affirmative action of the donor member to be effective: (a) appointment of any donor director; (b) removal, at any time, in its sole discretion, with or without cause, of any donor director; and (c) any amendment to the certificate of formation or bylaws of the corporation that would materially affect the rights, powers and privileges of the donor member.”

“As stated in the answer to part vi, line 6, the ghcf member has the power to appoint any ghcf director, and the donor member has the power to appoint any donor director.”

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

“The organization does not have any committees 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 financial statements are not separately audited. A copy of the consolidated audited financial statements for the related organization, greater houston community foundation, may be requested by calling the office.”

“There were no changes to the oversight process or the selection process from prior years.”