International Honor Society of Nursing Building Corporation
About IHSN Building Corporation
The International Honor Society of Nursing Building Corporation was incorporated in the State of Indiana 26 October 1993, as a title holding corporation under Section 501(c)(2) of the Internal Revenue Code. The primary purpose of the Building Corporation is to act as a single-purpose entity that enters into the transactions contemplated by the Credit Tenant Lease Agreement.
The Sigma International Board of Directors appoints three (3) to seven (7) members of the Building Corporation Board of Directors. The Sigma Board is the sole corporate entity for the Building Corporation, which provides regular reports to the Sigma Board.
IHSN Building Corporation Governance
- Suzanne Prevost, Chair
- Dawn Turnage
- Terry Siek
- Jennifer Saylor, Board of Directors Liaison
- Liz Westcott, President (ex-officio)
- Laura Perkins, Manager of Governance and Board Operations
Finances:
- Develop annual budgets
- Review the Investment Policy and update as needed using sustainable investing approaches
- Prepare financial projections and review the same on an ongoing basis
- Transfer revenue excesses each fiscal year to Sigma Theta Tau International, Inc., in accordance with the bylaws
Maintenance:
- Review maintenance requirements
- Assure efficient and economic operations of the building’s Heating Ventilating and Cooling Systems (HVAC)
- Secure all necessary services to maintain the building in Class-A condition
- Update and repair all mechanical, plumbing, and electrical systems within the building to operate as efficiently and economically as possible
Operations:
- Provide orientation to all newly appointed board members
- Conduct regularly scheduled board of directors’ meetings
- Review risk and exposure of the building and board, and determine there is adequate insurance coverage