SYC Charitable Foundation, Inc.
1. The name of the organization/agency/group shall be the:
SYC Charitable Foundation, Inc.
The SYC Charitable Foundation was created to allow the Sarasota Yacht Club to contribute in a more meaningful way to improving the world in which we live.
Through contributions from the community, we will conduct events and support local and global charities that:
· promote the goodwill of the yachting community;
· promote the growth of the yachting community through youth educational programs;
· promote respect for and the protection and preservation of our marine environment; and
· promote the health and wellness and active lifestyle of the yachting community.
· The foundation will not promote Religious or Political activities of any kind.
III. Board of Directors
- The Board of Directors shall serve without pay and consist of seven members.
- Board members shall serve two year terms and a maximum of three terms.
- Vacancies shall be filled by the Board, with the recommendation of the President.
- Board members with three absences during a term shall be dismissed from the Board.
- Board members may attend meetings via conference call with the approval of the President.
- The officers of the board shall consist of a President, Vice President, Secretary, and Treasurer nominated by the Board.
- Elected officers will serve a term of one year.
- (a)The President shall preside at all Board meetings, appoint committee members, and perform other duties as associated with the office. (b)The Vice-President shall assume the duties of the President in case of the President’s absence. (c)The Secretary shall be responsible for the minutes of the Board, keep all approved minutes in a minute book, and send out copies of minutes to all. (d) The Treasurer shall keep record of the organization’s budget and prepare financial reports as needed.
- The Board may appoint standing and ad hoc committees as needed.
- Regular meetings shall be held Quarterly on the last Tuesday of the Quarter
- Special meetings may be held at any time when called for by the President or a majority of Board members.
- Agendas shall be provided at least three days in advance.
- (a) A majority of board members constitutes a quorum. (b) In absence of a quorum, no formal action shall be taken except to adjourn the meeting to a subsequent date.
- Passage of a motion requires a simple majority (ie, one more than half the members present).
VIII. Conflict of Interest
- Any member of the board who has a financial, personal, or official interest in, or conflict (or appearance of a conflict) with any matter pending before the Board, of such nature that it prevents or may prevent that member from acting on the matter in an impartial manner, will offer to the Board to voluntarily excuse him/herself and will vacate his seat and refrain from discussion and voting on said item.
IX. Fiscal Policies
- The fiscal year of the board shall be July 1 to June 30
- These bylaws may be amended by a two-third vote of Board members present at any meeting, provided a quorum is present and provide a copy of the proposed amendment(s) are provided to each Board member at least one week prior to said meeting.
- The property of this corporation is irrevocably dedicated to charitable purposes and no part of the net income or assets of this corporation shall ever inure to the benefit of any director, officer, or member thereof to the benefit of any private person. Upon the dissolution or winding up of the corporation, its assets remaining after payment, or provision for payment, of all debts and liabilities of this corporation shall be distributed to a nonprofit fund, foundation, or corporation which is organized and operated exclusively for charitable purposes and which has tax exempt status under 501(c)(3) of the Internal Revenue Code and any applicable laws of the State of Florida , as such sections now exist or as they may hereinafter be amended, supplanted or revised, or the corresponding provisions of any future US or Florida tax law.