NON-PROFIT CORPORATE BYLAWS
ARTICLE 1
NAME
1.1 Name
The name of this corporation shall be Terry Peterson Fishing Foundation, INC. The business of
the corporation will be conducted as Terry Peterson Fishing Foundation, INC or Terry Peterson
Fishing Foundation.
ARTICLE 11
PURPOSES AND POWERS
2.01 Purpose
Terry Peterson Fishing Foundation, INC is a non-profit corporation and shall be operated
exclusively for charitable purposes within the meaning of Section 501(c)(3) of the Internal
Revenue Code of 1986, or the corresponding section of any future Federal tax code.
Terry Peterson Fishing Foundation, INC exists to accept donations and provide financial aid to
fishing conservation and accessibility projects through collaborations with the fishing
community.
2.02 Powers
The corporation shall have the power, directly or indirectly, alone or in conjunction or
cooperation with others, to do any and all lawful acts which may be necessary or convenient to
affect the charitable purposes. The powers of the corporation may include, but not be limited to,
the acceptance of contributions from the public and private sectors, whether financial or in-kind
contributions.
2.03 Nonprofit Status and Exempt Activities Limitation
(a) Nonprofit Legal Status: Terry Peterson Fishing Foundation, INC is a Wisconsin non-
profit corporation, recognized by the State of Wisconsin as a non-stock non-profit
corporation and recognized as tax exempt under Section 501(c)(3) of the United States
Internal Revenue Code.
(b) Exempt Activities Limitation: Not withstanding any other provision of these Bylaws, no
director, officer, employee, member, or representative of this corporation shall take any
action or carry on any activity by or on behalf of the corporation not permitted to be
taken or carried on by an organization exempt under Section 501(c)(3) as it now exists or
may be amended. No part of any earnings shall be paid or distributed to any director,
officer, member, or other private party aside from scholarship opportunities, except that
the corporation shall be authorized and empowered to pay for services rendered and to
make payments and distributions in furtherance of the purposes set forth in the Articles of
Incorporation and these Bylaws.
(c) Distribution Upon Dissolution: Upon termination or dissolution of Terry Peterson Fishing
Foundation, INC, any assets lawfully available for distribution shall be distributed to an
account owned by Sawyer County Outdoor Projects and Education (SCOPE) for future
fishing projects.
ARTICLE III
BOARD OF DIRECTORS
3.01 Number of Directors
Terry Peterson Fishing Foundation, INC, shall have a board of directors consisting of at least 3
and nor more than 5 Officers and Directors. Within these limitations, the board may increase or
decrease the number of directors serving on the board.
3.02 Powers
All corporate powers shall be exercised by or under the authority of the board and the affairs of
the Terry Peterson Fishing Foundation, INC and will be managed under the direction of the
board except as otherwise provided by law.
3.03 Terms and Removal
The terms of members of the board shall be non-expiring. Removal from the board will be
voluntary unless the following occur: Majority vote by the board to remove a member; unlawful
use or use of funds not permitted by law and these Bylaws, criminal activity unrelated to the
corporation, or termination from the board members employer for conduct that would contradict
the values of the corporation.
3.04 Vacancies
The board may fill vacancies with an individual who is at least 18 years of age and who would
represent the corporation and the purposes behind it.
3.05 Board of Directors Meetings
(a) Regular Meetings: The board of directors shall have a minimum of two (2) regular
meetings each calendar year at times and places fixed by the board. The board
president shall notify members by email and will be proceeded by at least 10 days
notice.
(b) Special Meetings: Special meetings of the board may be called by the president, vice
president, or secretary and will be preceded by at least 5 days notice.
3.06 Compensation for Board Members
As stated in 2.03 (b), no members of the board shall receive compensation for carrying out their
duties as directors.
ARTICLE IV
FINANCIAL TRANSACTIONS
4.01 Checks, Drafts
All checks, drafts, or other orders for payment issued in the name of the corporation shall be
signed by an officer or director.
4.02 Credit Card or Debit Card Use
Only Board Members may utilize credit cards or debit cards for purchases. All records and
receipts will be kept on file and are the responsibility of the user. The board will determine when
pre-approval for purchases is required.
4.03 Deposits
All funds of the corporation shall be deposited from time to time to the credit of the corporation
at an established account at Johnson Financial Group Hayward, WI Branch unless otherwise
directed by the board.
ARTICE V
MISCELLANEOUS
5.01 Books and Records
The corporation shall keep correct and complete books and records of accounts and shall keep
minutes of the proceedings of all meetings of its board and actions taken.
5.02 Fiscal Year
The fiscal year of the corporation shall be from January 1 st to December 31 st of each year.
5.03 Nondiscrimination Policy
The officers, directors, or members selected to serve this corporation shall be selected entirely on
a nondiscriminatory basis with respect to age, sex, race, religion, national origin, and sexual
orientation. It is the policy of Terry Peterson Fishing Foundation, INC not to discriminate on the
bases of race, creed, ancestry, marital status, gender, sexual orientation, age, physical ability,
veteran’s status, political service or affiliation, color, religion, or national origin.
5.04 Dissolution Clause
The board may vote, by majority, to dissolve the cooperation should a need no longer exist for
the Foundation to exist. The decision must be weighed on a potential for the Foundation to exist
in the future. Each member of the board is entitled to vote per sec. 181.1403(1)(e), Wis. Stats.
Should the vote be made for dissolution, the board agrees that all assets will be distributed to
Sawyer County Outdoor Projects and Education (SCOPE) for future fishing projects and
initiatives.
5.05 Bylaw Amendment
These Bylaws may be amended, altered, repealed, or restated by a vote of the majority of the
board of directors then in office at a meeting of the board provided the amendment be consistent
with the Articles of Incorporation and does not cease to qualify as an exempt corporation under
Section 501(c)(3) or any corresponding section of any future tax code.
Altered by unanimous vote by the Board of Officers/Directors on 3/4/2025.