- 4 - Petitioner’s bylaws provide that its specific objectives and purposes are: 1. Establish Solution-PLUS as a viable and beneficial entity in the credit counseling industry through expanded financial services and diversification of revenue. 2. Provide a financial literacy model that focuses on increasing consumer financial awareness and preventing financial distress. 3. Provide a structured debt repayment plan (debt management program) for the immediate and long-term relief of financially overburdened consumers. 4. Establish Solution-PLUS as a reliable corporate community support mechanism for those in need. C. Board of Directors and Officers Petitioner’s articles of incorporation and bylaws provide that petitioner shall have two directors. Petitioner’s articles of incorporation named Mr. Dennis and his wife as the only directors. Mr. Dennis is petitioner’s president, chief executive officer (CEO), and only employee. Mr. Dennis’s compensation is determined, in part, by the growth of petitioner’s portfolio of DMPs. D. Petitioner’s Application for Exemption and Followup Correspondence 1. Application for Recognition of Exemption Mr. Dennis signed petitioner’s Form 1023, Application for Recognition of Exemption Under Section 501(c)(3) of the Internal Revenue Code, and dated it February 25, 2005, a date 10 daysPage: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 NextLast modified: March 27, 2008