Visions Five Group
		STATE OF TENNESSEE CHARTER of VISIONS FIVE GROUP 1. The name of the corporation is Visions Five Group. 2. a. This corporation is a public benefit corporation. b. This corporation is not a religious corporation. 3. The corporation’s registered agent and registered office shall be: Laura Carlile 1235 Paran Road Cookeville TN 38515 4. The incorporator shall be: Carl Wright 5. The street address of the principal office shall be: 1908 21st Ave S Nashville TN 37212 6. The corporation shall not be for profit. 7. The corporation will not have members. 8. The corporation is organized exclusively for charitable, educational and scientific purposes, including for such purposes, the making of distributions to organizations that qualify as exempt organizations under section 501(c)(3) of the Internal Revenue Code, or corresponding sections of any future federal tax code. 9. Notwithstanding any other provision of these articles, this corporation shall not carry on any other activities not permitted to be carried on by: (a) a corporation exempt from federal income tax under Section 501 (c)(3) of the Internal Revenue Code of 1954 or the corresponding provision of any future United States Internal Revenue law or (b) a corporation contributions to which are deductible under Section 170(c)(2) of the Internal Revenue Code of 1954 or corresponding sections of any future Internal Revenue law. 10. In the event of dissolution, the residual assets of the organization shall be turned over to one or more organizations in Davidson County which themselves are recognized as exempt under Sections 501(c)(3) and 170(c)(2) of the Internal Revenue Code of 1954 or corresponding sections of any prior or future Internal Revenue Code, or to the federal, state or local government for exclusive public purpose. 11. The primary purpose of the Corporation is the provision of decent housing that is affordable to low- and moderate-income people in Davidson County, Tennessee, and the area within one hundred fifty miles of the boundaries of the county. In furtherance of this purpose, the Corporation may also pursue complementary projects to improve employment, the environment, health care, and culture. The Corporation shall at all times comply with U. S. Department of Housing and Urban Development HOME regulations (24 CFR Section 92.2) to qualify as a Community Housing Development Organization. 12. The corporation shall, in addition, be empowered to carry out any activities authorized by the Tennessee Nonprofit Corporation Act and that may be carried out by organizations that are exempt under Sections 501(c)(3) and 170(c)(2) of the Internal Revenue Code. 13. The affairs of the Corporation shall be managed by a Board of Directors and by such officers as shall be described in the Bylaws of the Corporation. The method of electing or appointing the members of the Board of Directors shall be set forth in the Bylaws of the Corporation. The number of directors who shall comprise the membership of the Board of Directors shall be set forth in the Bylaws of the Corporation, but the number of directors shall not be less than three. 14. The corporation shall make or pay no compensation, loan or other payment to any officer, board member, creator or organizer of the corporation, or substantial contributor to it, except as reasonable compensation for goods or services rendered or as reasonable reimbursement for authorized expenditures incurred on behalf of the corporation. No part of the corporation*s assets or net earnings, current or accumulated, shall ever be distributed to or divided among such persons or private individuals, pursuant to the provisions of Section 501(c)(3). 15. No substantial part of the activities of the corporation shall be the carrying on of propaganda or otherwise attempting to influence legislation. The corporation shall not participate in, or intervene in any way (including the publishing or distribution of statements) in any political campaign or on behalf of or in opposition to any candidate for public office. 16. Under the authority of Section 48-52-102(b)(3) of the Tennessee Nonprofit Corporation Act, a director shall not be personally liable to the corporation or its members for monetary damages for breach of fiduciary duty as a director, except this provision shall not eliminate or limit the liability of a director for: a. Any breach of the director*s duty of loyalty to the corporation or its members; or b. Any acts or omissions not in good faith or which involve intentional misconduct or a knowing violation of law; or c. Any unlawful distribution of assets in violation of Section 48-58-304 of the Tennessee Nonprofit Corporation Act. 17. The corporation shall not discriminate against any person on the basis of race, color, sex, national origin, religion, handicapping condition, age and any other basis prohibited by law or of sexual orientation. This policy of nondiscrimination applies to the hiring of personnel, election of board members, provision of services to the public, contracting for and purchasing of services and all other activities of the corporation. This policy of nondiscrimination includes, but is not limited to, a commitment to full compliance with Title VI of the Civil Rights Act of 1964; Section 504 of the Rehabilitation Act of 1973, the Age Discrimination Act of 1975, and any subsequent amendments to these statutes. This Charter shall be effective upon the filing with the Secretary of State of the State of Tennessee. Dated this____ day of January, 2004 ______________________________ (Signature) Incorporator Carl Wright Incorporator Return to Site Map Take me Home E-mail to: visionsfive@yahoo.com Together We Can revised December 18, 2003 site url: http://www.oocities.org/visionsfive/