Bylaws

MADGE LEWIS SCHOLARSHIP FOUNDATION, INC. BY-LAWS

ARTICLE 1: NAME
The name of this corporation is Madge Lewis Scholarship Foundation (MLSF), hereafter referred to as the “Scholarship Foundation” and/or “MLSF”.

ARTICLE 2: PURPOSE
A. The Madge Lewis scholarship Foundation, Inc. exists to offer scholarships and financial assistance to High School, Technical School and College students who are financially in need, in order to assist them in the pursuit of educational advancement. In addition, the Madge Lewis Scholarship Foundation (MLSF) will, at its discretion, engage in Outreach Programs that will assist financially needy persons within and outside the United States.
B. “Need” has to be proven to the Officers and Board of Directors of the Scholarship Foundation.

ARTICLE 3: STATUS
A. The Scholarship Foundation shall be a Non-Profit Organization, a Corporation organized and existing under the laws of the State of Florida and operated exclusively for the purpose specified in Article 2.
B. In accordance with 3a above, the Board of Directors will apply to the Tax Department for 501 © 3 status.
C. All Officers and Board of Directors will volunteer their time and will not receive any compensation for their services.
D. No Board Member shall be liable for the acts or failure to act on the part of any other Board Member. Nor shall any Board Member be liable for his act or failure to act under this Constitution and By-Laws, excepting only acts or omission arising from willful misfeasance.
E. Nothing herein shall constitute any liability for acts or omissions committed by anyone associated with the Scholarship Foundation.
F. The Scholarship Foundation shall use its funds to accomplish the purpose specified in Article 2. No part of such funds shall be beneficial or distributed to an Officer or a Board Member.

ARTICLE 4: OFFICERS AND BOARD OF DIRECTORS
The Scholarship Foundation Board shall consist of four (4) Officers and nine (9) Board of directors. Officers shall be: President, Treasurer, Secretary and Registered Agent. Officers and Board of directors shall always include members of the Lewis family and others as decided when necessary.

ARTICLE 5: GOVERNANCE
The Officers and Board of Directors shall direct and control the business management and affairs of the Scholarship Foundation. They shall have the authority to approve or deny any requests for scholarships and to recommend dispensing of funds.

ARTICLE 6: SCHOLARSHIP FUNDS
The funds of the Scholarship Foundation shall be obtained primarily from donations, contribution from family members, friends, corporations and the general public. All funds received must be unconditional.

ARTICLE 7: MEETINGS
The Officers and Board of Directors shall meet monthly, or at a date designated by the President, to select recipients for scholarships.

ARTICLE 8: DUTIES OF OFFICERS AND BOARD OF DIRECTORS
A. The President shall preside over all meetings of the Board, and:
1. In conjunction with the Secretary, shall be responsible to ensure that all applications are properly screened.
2. Shall announce the successful applicants’ names, scholarship values, and college or institution they will attend at the time and place appointed for such announcement.
B. The Secretary shall be responsible for receiving completed applications and forwarding copies of the applications to the other Officers and Board of directors for study prior to the scheduled meeting.
C. The Treasurer shall:
1. Be responsible for the care, safekeeping and accounting of all funds and property of the Scholarship Foundation, which come into his/her possession.
2. Draw checks in the approved amount(s), ensure that there are two signatures on each check, and forward to the appropriate office of the college or institution concerned.
D. The Board of Directors shall review each application and prepare recommendations prior to the scheduled meeting. They will vote on the selection of qualified recipients.

ARTICLE 9: FINANCIAL
A. All funds received shall be placed promptly into federally insured account(s) paying the highest available interest or in any mutual fund, etc. deemed appropriate by the Officers and Board of Directors.
B. Madge Lewis Scholarship Foundation, Inc. shall be audited and reported annually.

ARTICLE 10: AWARDS
A. The total amount awarded annually for scholarships shall be limited to no more than one-half (1/2) of the yearly income until reaching a balance of Ten Thousand Dollars ($10,000) in the Scholarship Foundation. Thereafter, the total yearly income may be awarded. Awards of at least Five Hundred Dollars ($500) is to be given annually.
B. The Officers and Board of Directors will decide on the number, type, and amount of each scholarship and determine the recipient(s).
C. Amounts awarded shall take into consideration the amount available for the number of successful applicant(s).
D. Checks for each scholarship awarded will be paid directly to the college or institution. No checks will be paid to individuals.

ARTICLE 11: APPLICATIONS
SECTION 1
A. Completed application forms, together with all required enclosures, must reach our mail box no later November 30th of each year. (see AMENDMENTS below)
B. All applications received after the deadline will not be accepted.
C. The application for scholarship must be completed in its entirety and shall include all required enclosures. Among these must be:
1. A letter along with supporting tax information attesting to the applicant’s eligibility.
2. Name of college or institution with a copy of letter of admission or proof of current enrolment.
3. Two (2) letters of recommendation from current teachers or final year teachers.
4. A 500 word essay on subjects decided on by the Scholarship Foundation Officers and Board of Directors. (see AMENDMENTS below)

SECTION 2
A. The scholarships are awarded for one (1) year.
B. Applicants must file a new application for each successive year.
C. Scholarships are not available for graduate studies.
D. The method and schedule for processing applications will be determined by the Officers and Board of Directors.
E. Successful applications will be announced at the time and place designated by the Officers and Board of Directors.

ARTICLE 12: SUCCESSOR CORPORATION OR DISSOLUTION
Should this Scholarship Foundation for any reason whatsoever surrender its Charter, either voluntarily by action of the Officers and Board of Directors, or by action of State Officials or a Court of Law, all of the property of the Scholarship Foundation shall be turned over and delivered to the Successor Corporation, if a successor corporation has been duly formed. Otherwise, all property of this Scholarship Foundation shall be donated to a bona fide not-for-profit organization that is engaged in a similar work.ARTICLE 15: AMENDMENT
The Constitution and By-Laws of the Scholarship Foundation may be amended, or a new Constitution may be adopted by a two-thirds majority vote of the Officers and Board of Directors at any Annual Meeting, or regularly called meeting of the Scholarship Foundation provided that prior notice of at least one (1) month has been published given to all Officers and Board of Directors in writing.

ARTICLE 13: CONFLICT OF INTEREST
Purpose:
The purpose of the conflict of interest policy is to protect the tax-exempt organization, The Madge Lewis Scholarship Foundation, Inc. ( MLSF), interest when it is contemplating entering into a transaction or arrangement that might benefit the private interest of an officer or director of the organization or might result in a possible excess benefit transaction. This policy is intended to supplement but not replace any applicable state and federal laws governing conflict of interest applicable to non-profit and charitable organizations.
Definitions: Interested Person
Any director, principal officer, or member of a committee with governing board delegated powers, who has a direct or indirect financial interest, as defined below, is an interested person.
Financial Interest
A person has a financial interest if the person has, directly or indirectly, through business, investments, or immediate family members:
An ownership or investment in any entity with which the Organization has a transaction or arrangement,
A compensation arrangement with the Organization or with any entity or individual with which the Organization has transaction or arrangement, or
a potential ownership or investments interest in, or compensation arrangement with, any entity or individual with which the MLSF is negotiating a transaction or arrangement.
Compensation includes direct or indirect remuneration as well as gifts or favors that are not insubstantial.
A financial interest is not necessarily a conflict of interest. A person who as financial interest may have a conflict of interest only if the appropriate governing board or committee decides that a conflict of interest exists.

 

ARTICLE 14: NON-ELIGIBILITY CLAUSE

Children of Officers, Board of Directors, or Advisors are not eligible to receive scholarships offered by the Madge Lewis Scholarship Foundation. Nor will substantial contributors, fund managers be eligible to receive scholarships.

ARTICLE 15: AMENDMENT
The Constitution and By-Laws of the Scholarship Foundation may be amended, or a new Constitution may be adopted by a two-thirds majority vote of the Officers and Board of Directors at any Annual Meeting, or regularly called meeting of the Scholarship Foundation, provided that prior notice of at least one (1) month has been published given to all Officers and Board of Directors in writing.

 

DATED: November 2008.

 

AMENDMENTS 

Amendments herein are made pursuant to ARTICLE 15 of the MADGE LEWIS SCHOLARSHIP FOUNDATION, INC. BY-LAWS.

 

ARTICLE 1: NAME
The name of this corporation is Madge Lewis Scholarship Foundation (MLSF), hereafter referred to as the “Scholarship Foundation” and/or “MLSF”.  –  Voted on per  Minutes Dated July, 7, 2013, added 1/14/2014
The name of this corporation is Madge Lewis Scholarship Fund (MLSF), hereafter referred to as the “Scholarship Fund” and/or “MLSF”. – November 2008

ARTICLE 2: PURPOSE
A. The Madge Lewis scholarship Foundation, Inc. exists to offer scholarships and financial assistance to High School, Technical School and College students who are financially in need, in order to assist them in the pursuit of educational advancement.In addition, the Madge Lewis Scholarship Foundation (MLSF) will, at its discretion, engage in Outreach Programs that will assist financially needy persons within and outside the United States.  – Voted on per Annual Meeting July 21, 2012, added 1/14/2014
A. The Madge Lewis scholarship Foundation, Inc. exists to offer scholarships and financial assistance to High School, Technical School and College students who are financially in need, in order to assist them in the pursuit of educational advancement.

ARTICLE 11: APPLICATIONS
SECTION 1

4. Essay on topics decided by the Scholarship Foundation Officers and Board of Directors.   – added 1/11/2016

A. Completed application forms, together with all required enclosures, must reach our mail box no later than March 31st of each year.                – added 9/8/2015

A. Completed application forms, together with all required enclosures, must reach our mail box no later than May 31st of each year.                – added 1/20/2013
A. Completed application forms, together with all required enclosures, must reach our mail box no later June 15th of each year.                – added 2/26/11