HOPE FOR A BETTER SOUTH CAROLINA FOUNDATION BY-LAWS
(A NOT-FOR-PROFIT CORPORATION)
ARTICLE I: NAME
This foundation is to be named Hope For A Better South Carolina Foundation.
ARTICLE II: MEMBERSHIP
This is a non-member organization.
ARTICLE III: PURPOSE
The Hope For A Better South Carolina Foundation shall be organized for the administration, collection and distribution of funds for scholarships and charitable activities.
ARTICLE IV: BOARD OF TRUSTEES
Part 1 A Board of Trustees shall constitute the governing administrative body of the Hope For A Better South Carolina Foundation and shall have the authority to administer the business of the Hope For A Better South Carolina Foundation.
Part 2 The Board of Trustees shall be composed of nine persons. Each trustee must be at least 18 years of age. The initial trustees will be the organizers of this foundation: Patsy Finley, Richard Gay, Suzie Knebusch, Betsy Nunnery, Ella Messer, Steve Doudoukjian, Mike Taylor, Belita Broadus and David Simpson. The initial Board will serve the following terms: Until June 1, 2024: David Simpson, Ella Messer and Betsy Nunnery; June 1, 2025: Steve Doudoukjian, Patsy Finley and Belita Broadus and; June 1, 2026: Richard Gay, Suzie Knebusch and Mike Taylor. The director who is ending his/her term is responsible for nominating her/his replacement. That nominee will then be voted upon by the Board. If that person fails to receive a majority vote, or, should the leaving trustee fail to nominate a replacement, the Board will nominate and elect the replacement trustee. All trustees following the initial board will serve for a three-year period, beginning on June 1 following their election in March.
Part 3 All members of the Board of Trustees are to serve without compensation.
Part 4 Foundation expenses are to be paid by the Foundation, as approved by a majority of the Board of Trustees.
Part 5 The Board of Trustees shall meet annually during the month of March to conduct Foundation business: (1) To review the progress of the Foundation program, including the awarding of scholarships for the upcoming school year; (2) To vote on replacements for outgoing trustees; (3) To elect officers; (4) To prepare a budget for the upcoming year. (The Foundation year will run from June 1 through May 31, although the tax year ends December 31 of each year.) Additional meetings may be called as needed by the Chairperson or by a majority of the Board of Trustees. Meetings may be held in person or virtually.
Part 6 A majority (5) of the entire Board of Trustees shall constitute a quorum. All votes are to be determined by a majority of the quorum. The Chairperson shall be the presiding officer at all meetings of the Foundation unless he/she is unable to be present in which case the Vice-Chairperson will preside.
Part 2 The Board of Trustees shall be composed of nine persons. Each trustee must be at least 18 years of age. The initial trustees will be the organizers of this foundation: Patsy Finley, Richard Gay, Suzie Knebusch, Betsy Nunnery, Ella Messer, Steve Doudoukjian, Mike Taylor, Belita Broadus and David Simpson. The initial Board will serve the following terms: Until June 1, 2024: David Simpson, Ella Messer and Betsy Nunnery; June 1, 2025: Steve Doudoukjian, Patsy Finley and Belita Broadus and; June 1, 2026: Richard Gay, Suzie Knebusch and Mike Taylor. The director who is ending his/her term is responsible for nominating her/his replacement. That nominee will then be voted upon by the Board. If that person fails to receive a majority vote, or, should the leaving trustee fail to nominate a replacement, the Board will nominate and elect the replacement trustee. All trustees following the initial board will serve for a three-year period, beginning on June 1 following their election in March.
Part 3 All members of the Board of Trustees are to serve without compensation.
Part 4 Foundation expenses are to be paid by the Foundation, as approved by a majority of the Board of Trustees.
Part 5 The Board of Trustees shall meet annually during the month of March to conduct Foundation business: (1) To review the progress of the Foundation program, including the awarding of scholarships for the upcoming school year; (2) To vote on replacements for outgoing trustees; (3) To elect officers; (4) To prepare a budget for the upcoming year. (The Foundation year will run from June 1 through May 31, although the tax year ends December 31 of each year.) Additional meetings may be called as needed by the Chairperson or by a majority of the Board of Trustees. Meetings may be held in person or virtually.
Part 6 A majority (5) of the entire Board of Trustees shall constitute a quorum. All votes are to be determined by a majority of the quorum. The Chairperson shall be the presiding officer at all meetings of the Foundation unless he/she is unable to be present in which case the Vice-Chairperson will preside.
ARTICLE V: OFFICERS
Part 1 The Board of Trustees shall elect the following officers at its annual meeting. a Chairperson, a Vice-Chairperson, a Treasurer, and a Secretary. These officers will serve for one year, commencing June 1st.
Part 2 The Chairperson shall be the chief executive officer of the corporation, shall have the responsibility for the general management of the affairs of the corporation, and shall carry out the resolutions of the Board of Trustees. The Chairperson shall, when duly authorized by the Board of Trustees, sign and execute contracts, checks and other expenditure of funds when countersigned by the Treasurer.
Part 3 The Vice-Chairperson shall have all the powers and functions of the Chairperson should the Chairperson be absent or otherwise unable to carry out the duties of his/her office. The Vice-Chairperson shall perform such other duties as may be prescribed by the Board of Trustees from time to time.
Part 4 The Treasurer shall have the care and custody of all funds and securities of the corporation and shall deposit said funds in the name of the corporation in such bank accounts or security accounts as the Board of Trustees may determine. The Treasurer shall, when duly authorized by the Board of Trustees, sign and execute contracts, checks and other expenditure of funds when countersigned by the Chairperson.
Part 5 The Secretary shall keep minutes of the Board of Trustees. The Secretary shall be responsible to notify the members of the Board of Trustees of meetings and is to keep the Board members apprised of all actions taken by or on behalf of the Board. The Secretary shall have charge of all books and records of the Corporation.
Part 2 The Chairperson shall be the chief executive officer of the corporation, shall have the responsibility for the general management of the affairs of the corporation, and shall carry out the resolutions of the Board of Trustees. The Chairperson shall, when duly authorized by the Board of Trustees, sign and execute contracts, checks and other expenditure of funds when countersigned by the Treasurer.
Part 3 The Vice-Chairperson shall have all the powers and functions of the Chairperson should the Chairperson be absent or otherwise unable to carry out the duties of his/her office. The Vice-Chairperson shall perform such other duties as may be prescribed by the Board of Trustees from time to time.
Part 4 The Treasurer shall have the care and custody of all funds and securities of the corporation and shall deposit said funds in the name of the corporation in such bank accounts or security accounts as the Board of Trustees may determine. The Treasurer shall, when duly authorized by the Board of Trustees, sign and execute contracts, checks and other expenditure of funds when countersigned by the Chairperson.
Part 5 The Secretary shall keep minutes of the Board of Trustees. The Secretary shall be responsible to notify the members of the Board of Trustees of meetings and is to keep the Board members apprised of all actions taken by or on behalf of the Board. The Secretary shall have charge of all books and records of the Corporation.
ARTICLE VI: REVENUE
Part 1 All funds received by the Hope For A Better South Carolina Foundation shall be deposited into a Hope For A Better South Carolina Foundation account, the records of which are to be made available to each director upon request.
Part 2 The four categories of revenue shall be: (1) Annual contributions obtained by the efforts of the Board; (2) scholarship specific contributions; (3) general contributions to the Foundation; (4) endowments.
Part 4 Charitable contributions to the Foundation shall be accepted upon the approval of the Foundation's Board of Trustees.
Part 2 The four categories of revenue shall be: (1) Annual contributions obtained by the efforts of the Board; (2) scholarship specific contributions; (3) general contributions to the Foundation; (4) endowments.
Subpart A An annual goal of at least $2,000.00 to be raised by the Trustees. These contributions may be designated by the board as either specific or general contributions.
Subpart B Scholarship specific contributions shall be used only for scholarships specified by the contributing party.
Subpart C General contributions may be used for non-specific scholarships, charitable contributions and general expenses of the Foundation, not to exceed limitations of the Internal Revenue Code.
Subpart D Contributions accepted as endowment funds shall be invested and only the interest accrued from those funds may be used for scholarship endowment.
Part 3 Any Foundation fundraising efforts shall be first submitted to the Foundation's Board of Trustees for approval.Subpart B Scholarship specific contributions shall be used only for scholarships specified by the contributing party.
Subpart C General contributions may be used for non-specific scholarships, charitable contributions and general expenses of the Foundation, not to exceed limitations of the Internal Revenue Code.
Subpart D Contributions accepted as endowment funds shall be invested and only the interest accrued from those funds may be used for scholarship endowment.
Part 4 Charitable contributions to the Foundation shall be accepted upon the approval of the Foundation's Board of Trustees.
ARTICLE VII: DISBURSEMENTS
Disbursement of funds and expenses to administer the Hope For A Better South Carolina Foundation, shall be for scholarships, other charitable activities and expenses previously approved by the Hope For A Better South Carolina Foundation Board of Trustees. Funds are to be paid from the Foundation's account only as authorized by the Hope For A Better South Carolina Foundation Board of Trustees.
ARTICLE VIII: SCHOLARSHIPS
Collegiate (including nursing and other technical schools) scholarships shall be provided for selected individuals requiring financial assistance for educational expenses as follows:
Part 1 Guidelines for scholarship applications shall conform to standards established by the Hope For A Better South Carolina Foundation Board of Trustees.
Part 2 The Hope For A Better South Carolina Foundation Board of Trustees shall promulgate and review all applications for scholarships and will select the most qualified applicant(s), with assistance from others as desired.
Part 3 Disbursement of scholarship funds will be made payable directly to the academic institution chosen by the scholarship recipient.
Part 2 The Hope For A Better South Carolina Foundation Board of Trustees shall promulgate and review all applications for scholarships and will select the most qualified applicant(s), with assistance from others as desired.
Part 3 Disbursement of scholarship funds will be made payable directly to the academic institution chosen by the scholarship recipient.
ARTICLE IX: DISSOLUTION
Should The Hope For A Better South Carolina Foundation dissolve, all funds remaining in the Foundation's account shall be transferred to another non-profit scholarship program eligible to receive such funds. That scholarship program to be chosen by the Hope For A Better South Carolina Foundation Board of Trustees in existence at the time of dissolution.
ARTICLE X: TAX-EXEMPT STATUS
All contributions to the Hope For A Better South Carolina Foundation Board of Trustees shall be tax deductible in accordance with I. R. S. Internal Revenue Code 501 (C) (3) - tax exemption for charitable foundations.
ARTICLE XI: MISCELLANEOUS
Part 1 No funds belonging to the Hope For A Better South Carolina Foundation shall be used for lobbying or otherwise attempting to influence legislation or governmental policies and shall not be used to further the goals of any person running for elective office or for any political party.
Part 2 The Board of Trustees shall have the power to make, alter or repeal these corporate By-Laws except as limited by the regulations of the state of South Carolina and the Internal Revenue Service of the United States as they relate to the non-profit nature of this corporation.
Part 3 The Board of Trustees shall have the power to seek professional assistance from educators, attorneys, accountants, financial advisors, information technologists and other persons as needed and is authorized to pay reasonable fees for such assistance.
Part 2 The Board of Trustees shall have the power to make, alter or repeal these corporate By-Laws except as limited by the regulations of the state of South Carolina and the Internal Revenue Service of the United States as they relate to the non-profit nature of this corporation.
Part 3 The Board of Trustees shall have the power to seek professional assistance from educators, attorneys, accountants, financial advisors, information technologists and other persons as needed and is authorized to pay reasonable fees for such assistance.
Approved this 25 day of March, 2023.
___________________________________ Steve Doudoukjian
___________________________________ Richard Gay
___________________________________ Patsy Finley
___________________________________ Alannah Knebusch
___________________________________ Mike Taylor
___________________________________ Betsy Nunnery
___________________________________ Belita Broadus
___________________________________ Ella Messer
__________________________________ David Simpson
___________________________________ Steve Doudoukjian
___________________________________ Richard Gay
___________________________________ Patsy Finley
___________________________________ Alannah Knebusch
___________________________________ Mike Taylor
___________________________________ Betsy Nunnery
___________________________________ Belita Broadus
___________________________________ Ella Messer
__________________________________ David Simpson
Hope for a Better South Carolina Foundation