Articles of Incorporation & Bylaws
Article I. Name
The name of the corporation is MSU Student Housing Cooperative, Inc.
Article II. Purpose
The purpose or purposes for which the corporation is formed are as follows:
A. The MSU Student Housing Cooperative, Inc. is organized exclusively for educational and charitable purposes within the meaning of Section 501(c)(3) of the Internal Revenue Code of 1954. No substantial portion of either its funds or activities may be directed at any time to other purposes. Its primary purposes are:
a. To promote the social and general welfare of Michigan State University and the community, by offering low rent housing and other services, regardless of age, color, gender, gender identity, disability status, height, marital status, national origin, political persuasion, race, religion, sexual orientation, veteran status, or weight and thus to influence the community to eliminate discrimination in housing.
b. To advance the cause of education by providing inexpensive board and lodging for university students with limited resources, so that those who might not otherwise be able to continue at the University, because of economic reasons, may enjoy the benefits of higher education.
c. To be inclusive of underrepresented and marginalized groups of the community, including providing housing for any low-income or moderate income members, pursuant to the United States Revenue Ruling 96-32 income limits, and to continually expand and extend those facilities in the community interest.
d. To initiate, coordinate, direct, and otherwise participate in educational efforts and programs for the education of its members and others.
e.(Deleted by amendment, December 3, 1971.)
B. To further the primary purpose of this organization, the corporation shall be empowered to, but not limited to, do the following:
a. Own, lease, and operate dormitories, dwelling units, and boarding units, and to provide other facilities and services for university students.
b. Do all things expedient and necessary for the furtherance of the primary purposes of the organization.
C.This corporation may not engage in, otherwise than as an insubstantial part of its activities, any activities which are not in furtherance of its tax exempt purposes.
(As Restated April 1, 2002) The corporation is organized on a non-stock basis.
Article III. Assets
If organized on a non stock basis, the description and value of its real property assets are:
|Name of Cooperative House||Address of House||City Assessed value as of May 13, 2002 In Dollars|
|1||Atlantis||207 Bogue Street||157,400|
|3||Elsworth||711 W Grand River||184,800|
|6||lot||711 W Grand River||29,000|
|9||Phoenix||239 Oak Hill||190,900|
|10||Raft Hill||420 Evergreen||77,300|
|12||Toad Lane & New Community||415 & 425 Ann||184,300|
and the description of its personal property assets are: $10,000 office equipment. (The valuation of the above assets was as of May 13, 2002)
Said corporation is to be financed under the following general plan: By the collection of such membership fees as shall be provided in the By-Laws; by contributions and donations from persons, parties, or organization interested in furthering the program for which this corporation is organized.; and by the collection of such service charge for services rendered as shall be stipulated from time to time by the Board of Directors.
The corporation is organized on a membership basis.