| Return Reference | Explanation |
|---|---|
| FORM 990, PAGE 6, PART VI, LINE 4 | DURING THE FISCAL YEAR, THE ENDOWMENT'S BYLAWS WERE AMENDED. SIGNIFICANT CHANGES INCLUDE A CHANGE TO THE NUMBER OF BOARD MEMBERS FROM THREE TO FIVE MEMBERS TO FIVE TO SEVEN MEMBERS. TERM LIMITS FOR BOARD MEMBERS WERE ALSO IMPLEMENTED TO PROVIDE FOR A MAXIMUM OF TWO THREE-YEAR TERMS UNLESS A MEMBER STAYS OFF THE BOARD FOR A YEAR. MODIFICATIONS WERE ALSO MADE TO THE DUTIES OF THE SECRETARY AND TREASURER POSITIONS. |
| FORM 990, PAGE 6, PART VI, LINE 7B | WHILE THE BOARD ITSELF ELECTS DIRECTORS, IT IS SUBJECT TO THE CONSENT OF A MAJORITY OF THE BOARD OF THE GREENVILLE SYMPHONY ASSOCIATION. |
| FORM 990, PAGE 6, PART VI, LINE 8B | THERE ARE NO COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. |
| FORM 990, PAGE 6, PART VI, LINE 11B | THE FORM 990 IS REVIEWED BY THE MANAGEMENT OF GREENVILLE SYMPHONY ASSOCIATION AND A COPY IS PROVIDED TO THE ENDOWMENT BOARD FOR REVIEW PRIOR TO FILING. |
| FORM 990, PAGE 6, PART VI, LINE 12C | THE ENDOWMENT'S BYLAWS REQUIRE THAT POTENTIAL BUSINESS TRANSACTIONS INVOLVING A BOARD MEMBER MUST BE DISCLOSED TO THE BOARD OR BOARD CHAIR, AS APPLICABLE. THE MEMBER INVOLVED MAY NOT VOTE ON A TRANSACTION IN WHICH THEY HAVE A CONFLICT. THE BYLAWS ALSO REQUIRE AN ANNUAL ACKNOWLEDGMENT OF THIS OBLIGATION AND A DISCLOSURE OF ANY KNOWN CONFLICTS. |
| FORM 990, PAGE 6, PART VI, LINE 19 | THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. |
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