Section 1. Support. Funds for the maintenance of EOM International shall be received by the voluntary practice of tithing and offerings, according to Scriptural precepts, provided by the faithful members and friends who make contributions to this Church, or by any other means or source consistent with the principles and moral standards of the Church as determined by the EOM Board subject to the final approval of the Senior Bishop, and shall be administered by the Treasurer under the direction of the EOM Board who shall be empowered to determine and to designate how and in what manner any and all contribution will be used to best serve the needs and interests to perpetuate the purposes of the Corporation subject to the final approval of the Senior Bishop (Chairman and President of the Board). Since EOM International is a non-profit Corporation, any and all contributions to the Church may comply as deductible and be allowed as a tax-exempt contribution to any of its members or friends according to the 501(c)(3) code of the Internal Revenue Service. (Malachi 3:10; Matthew 23:23; Luke 6:38; 1 Corinthians 16:1, 2; 2 Corinthians 9:6-8; Hebrews 7:4-9)
Section 2. Accounting.
(a) Records. All funds for any and all Church purposes shall be properly recorded on the books of the Corporation in accordance with generally accepted accounting principles.
(b) Checks, Drafts And Signatories. All checks, drafts or any other orders for the payment of money, notes or other evidences of indebtedness issued in the name of the Corporation, shall be signed by such Officer or Officers or other person or persons as the EOM Board may from time to time designate subject to the final approval of the Senior Bishop.
(c) Deposits. All funds of the Corporation shall be deposited expeditiously to the credit of the Corporation in such banks, trust companies, investment bearing interest accounts, or other depositories as the EOM Board may deem suitable, subject to the final approval of the Senior Pastor.
(d) Gifts. The EOM Board may accept on behalf of the Corporation any contributions, gifts, bequest or devise for the general purposes or for any special purpose of the Corporation; and the EOM Board shall be empowered to determine and to designate how and in what manner any and all contributions, gifts, bequest or devise will be used to best serve the needs and interests to perpetuate the purposes of the Corporation subject to the final approval of the Senior Bishop.
Section 3. Annual Financial Audits. At the close of each calendar year, from January 1st to December 31st, the Senior Bishop with counsel from the EOM Board shall retain, or cause to be retained, a certified public accountant to: (1) Conduct an independent audit of the Corporation’s financial records and prepare a financial statement in accordance with generally accepted auditing standards; (2) Determine if the organization is complying with the Internal Revenue Code and the Rules and Regulation thereunder.
In addition, it shall be the duty of the Treasurer to ensure that the independent accounting firm receives such information and assistance as it may reasonably require of the EOM Board and employees of the Church.
Section 4. Corporation Loans And Investments
(a) The corporation may borrow money and or mortgage property, and pursue investment opportunities, only upon the approval of the EOM Board, and subject to the final approval of the Senior Bishop. The EOM Board shall authorize the officers to execute all documents in this regard.
(b) The Corporation shall have the right to retain all or any part or any securities or property acquired by it in whatever manner, and to invest and reinvest any funds held by it, according to the judgment of the EOM Board of Directors, and subject to the final approval of the Senior Bishop, without being permitted by law to make or any similar restriction, provided, however, that no action shall be taken by or on behalf of the Corporation if such action is a known prohibited transaction or would result in the denial of the tax exemption under Section 503 or 507 of the Internal Revenue Code and its regulations as they now exist or as they may hereafter be amended, or by an organization, contributions to which are deductible under Section 170(c)(2) of such code and regulations as they now exist or as they may hereafter by amended.
Section 5. Contracts. The EOM Board subject to the final approval of the Senior Pastor must authorize in writing any officer or officers, agent or agents of the Corporation, in addition to the officers so authorized by these Bylaws, to enter into any contract or execute and deliver any instrument in the name of and on behalf of the Corporation and such authority may be general or confined to specific instances.
Section 6. Financial And Fiduciary Responsibility And Confidentiality. The finances and financial information of EOM International are sensitive and highly confidential matters, and any person dealing with or having knowledge of such matters is charged with the highest duty of confidentiality and fiduciary responsibility to the Church, and must protect the Church in all circumstances and at all times. Neither intentional nor inadvertent disclosure of such information shall be permitted or tolerated. No Person authorized or permitted to make disclosure to any person, publicly or privately, of any Church financial information, of any type whatsoever, at any time, without the written permission of the Senior Pastor whose written authority includes the authorization and delegations of persons to make selected disclosures of specific, limited Church financial information or data to designated persons. (Examples of such types of disclosures might include mortgage or loan applications, domestic relations matters, properly responding to law enforcement or civic court process, subpoena, summons or order.) In no event shall any Church payroll, salary, benefit, payment plan, wage plan, or other personnel financial information ever be divulged, disclosed, displayed, revealed, discussed or shared in any form with, by, between or among persons inside the Church, or between any such party and any person or entity outside the Church, without the express written permission of the Senior Bishop, and in such circumstance any such disclosure shall be made or discussed only pursuant to the procedures of for the reasons described herein.
Any violation of the financial confidentiality provisions described in this section will be dealt with promptly as a serious breach of the Church’s trust. Exceptions will not be permitted. Membership in the Church is considered a privilege. Disregarding the requirements of the Bylaws is a violation of the condition of membership. At the discretion of the EOM Board Member, under guidance and subject to the final approval of the Senior Bishop, persons committing violations of the Church’s financial confidences may be subject to discipline in accordance with the provisions of the Church Bylaws. Such measure of discipline may include disqualifying an active member in good standing, as well as the termination and dissolution of membership in the Church. Article X, Section 6, G. indicates that Church membership may be terminated at the discretion of the EOM Board, under the guidance and subject to the final approval of the Senior Bishop, in the event a person is found to have discontinued adherence to the Bylaws through a course of conduct indicating that the member no longer chooses to affirm and or agree to the Bylaws of EOM International.