The Goodwood — Bylaws

1. Name & Location

The organization is named The Goodwood, a nonprofit organization operating in the State of Colorado.

2. Mission & Purpose

The Goodwood is a Colorado-based nonprofit organized exclusively for charitable, educational, and cultural purposes under Section 501(c)(3) of the Internal Revenue Code.

Our purpose is to support and produce community festivals, arts and music events, educational programming, and creative initiatives that strengthen local culture, celebrate creativity, and bring people together.

3. Nonprofit Status

The Goodwood operates as a nonprofit organization.

No part of its income or assets shall benefit any director, officer, or private individual, except for reasonable compensation for services provided.

The organization does not participate in political campaigns or activities prohibited under federal or Colorado nonprofit law.

4. Board of Directors

The organization is governed by a Board of Directors.

The Board consists of at least three (3) directors

Directors serve two-year terms and may be reappointed

The Board provides oversight, financial accountability, and strategic direction

The Board meets at least once per year and may meet in person or electronically.

5. Officers

The officers of The Goodwood include:

President

Vice President

Secretary

Treasurer

Officers are elected by the Board and serve one-year terms. One person may hold more than one office, except President and Secretary.

6. Committees & Volunteers

The Board may form committees or working groups to support festivals, events, fundraising, volunteers, and community partnerships.

7. Finances

The fiscal year is set by the Board

The Board ensures responsible financial management, transparency, and compliance with Colorado and federal nonprofit regulations

8. Conflict of Interest

The Goodwood maintains a conflict-of-interest policy to ensure decisions are made in the best interest of the organization and the community it serves.

9. Amendments

These bylaws may be amended by a majority vote of the Board of Directors.

10. Dissolution

If The Goodwood dissolves, remaining assets will be distributed to one or more Colorado-based nonprofit organizations that qualify under Section 501(c)(3) of the Internal Revenue Code.