Now that the Foundation has become its own 501c3 organization, the Board of Directors has voted to upgrade our By-Laws to reflect the changes to the organization and how business is conducted. Most of the proposed changes are cosmetic to standardize the presentation and provide easy reference points, but there are a few substantive revisions. Specifically, section G.3 establishes criteria related to the Endowment Fund. Section G.4 eliminates the requirement for all Grants to be issued to a 501c3 organization. This was a requirement of the Gulf Coast Community Foundation and we are no longer bound by that restriction. We are now free to award grants to any individual or organization with a demonstrated need for financial assistance (eg. Hurricane or fire victims) that reside within the North Port City limits. Additional changes include specific responsibilities for officers and committee chairs. Finally, the proposed By-law changes address the need to document all formal policies and procedures in a manual that will be stored on the website.
The proposed By-law changes may be seen by clicking here . A vote on the proposed By-law changes will be conducted at the annual membership meeting on January 17, 2025.
