WHF Member Vote on Amended and Restated Bylaws and Amended and Restated Certificate of Incorporation

Women in Housing and Finance (WHF) proposes amending its Bylaws and Certificate of Incorporation (COI), utilizing Manatt Phelps & Phillips, LLP as pro bono attorneys, as a first step in the process of applying for our 501(c)3 tax status. The Board of Directors approved the draft amended and restated Bylaws and COI at its meeting on September 15, 2020. This special member meeting on October 13, 2020 is being held so that the membership can also approve the updated organizational documents, including the authorization for the President, Deputy Vice President and Secretary to make any necessary changes to the document, as may be desired, all in consultation with counsel.

The nitty gritty: This notice is being sent at least 15 days in advance of the meeting and vote with revised documents attached for your review. Please register for this event so that we can anticipate quorum. We need at least 20% of the membership present and voting in order to proceed with our 501(c)3 application process.

Why the changes? WHF is currently a 501(c)6.Changing our tax status will allow organizations and individuals to make tax deductible contributions, as well as a NYS sales tax exemption. We think this tax status change will help WHF be more flexible in future fundraising around the educational programming and opportunities for its members, other nonprofit organizations doing great work and supporting women in their careers in housing and finance, and save on certain expenses. For your review, attached is an informational summary of changes, primarily to align our mission description with the 501(c)3 application and also to clarify and align descriptions of operations with current practices. Please reach out to Board President, Jen Trepinski ([email protected]) with any questions prior to the vote.