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The Petition

Resolution of Lack of Confidence and Demand for Documents from the
Board of Directors of YMI Cultural Center



April 8, 2012



 



Whereas, the YMI Cultural center was chartered to enhance
the social, cultural, and economic lives of African-Americans in Western North
Carolina, and



 Whereas, the YMI Cultural Center
has been ruled as a public non-profit which receives the majority of its
funding from citizens and governments, and



 Whereas, we the people are the members and concerned
citizens of Asheville and Western North Carolina to whom YMI Cultural Center
and the public entities and governments which fund it are directly accountable
to the citizens, and



 Whereas the Board of the YMICulturalCenter is legally
responsible as fiduciaries to exercise honesty, due diligence, and sound
business judgment in all the affairs of the YMI Cultural Center, now



Therefore we, the members of the YMI Cultural Center and the
citizens of Asheville and Western North Carolina, demand the following items be
delivered to a designee’ of our choice within 30 days or by April 27, 2012.:



 YMICC 
Meeting minutes – sequentially ordered, for the period, June 2004
to March 31, 2012, which provide documentation of  all General, Annual and/or Special
Meetings and elections of the Board.

 



  1. YMICC 
    Meeting minutes – sequentially ordered, for the period, June 2004
    to March 31, 2012, which provide documentation of  all General, Annual and/or Special
    Meetings and elections of the Board.

  2. YMICC Meeting Minutes – sequentially
    ordered, for the period, June 2004 to March 31, of a properly called
    Special or Annual Meeting with waivers of notice for which the stated
    purpose was the revocation of voting rights of the members of the YMICulturalCenter
    to govern the corporation and to duly elect a Board of Directors.  A list of individual members who
    attended, along with each recorded vote along with contact
    information. 

  3. YMI Board Meeting minutes –
    sequentially ordered for the period, July 2004 to March 31, 2012, with
    Board membership rosters and attendance rosters for all members of the
    Board.

  4. Financial statements for each
    month with income statements and balance sheets for July 1, 2007 to March
    31, 2012.
  5. Cash flow
    projection plans to demonstrate a plan to acquire an appropriate cash stream to
    pay the mortgage on the building beginning with the remaining 3 months of FY
    2011-2012. all of FY 2012-2013, and projections to retire the balloon note of
    $410,000 which is due June 30, 2014.
  6. An annual budget which is forecasted from
    July 1, 2012 to June 2013.
  7. An updated and aged schedule of accounts
    payable with payees and amounts.
  1. A listing of all liens on the
    YMICC building, including those which are pending, including mechanic’s
    liens.

  2. An accounts receivable listing,
    along with scheduled pay dates.
  3. The notice which describes the
    $15,000 in state payroll tax liabilities, along with the payroll periods
    and a copy of the signed and dated return.     
    The delivery name and address for your legal counsel where notices
    and service can be rendered.

  4. The delivery name and address for
    your legal counsel where notices and service can be rendered.

  5. A copy of the deed of the YMI Cultural Center.
  6. An Inventory of the Art and Artifacts owed by the YMI Cultural Center.

 Whereas the
lack of these material items and actions justify cause of legal action against
the Board of Directors for malfeasance of duty to act with prudence and care by
jeopardizing the status of the YMI Cultural Center as a “ going concern”, now

 Therefore we,
the members of the YMICulturalCenter
and the citizens of Asheville and Western North
Carolina, hereby resolve that we have no confidence in this Board of Directors
of the YMICulturalCenter.  All avenues, including legal will be pursued
to obtain the demanded documents and to obtain proof that this Board of
Directors are duly constituted to conduct the affairs of the YMICulturalCenter.

Sign petition

 
 

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