An overview of Ace Makerspace’s official governance, financial, legal, and organizational records.

Corporate Records

Corporate records are maintained by Ace Monster Toys, Inc. d/b/a Makerspace, a California nonprofit corporation with Full Voting Members who elect the Board of Directors. These records document the organization’s governance, finances, and legal compliance while preserving the institutional history of Ace Makerspace.

Purpose

Maintaining complete and organized corporate records helps Ace Makerspace:

• Comply with California nonprofit law and federal tax requirements.
• Document decisions made by the Full Voting Membership and the Board of Directors.
• Support transparency and accountability.
• Preserve the organization’s history.
• Simplify audits, grant applications, insurance renewals, and leadership transitions.

Core Corporate Records

Governing Documents

• Articles of Incorporation and any amendments.
• Bylaws and amendments.
• Board-approved governance policies.
• IRS tax-exemption determination letter.

Membership Records

Because the Makerspace has Full Voting Members, the corporation maintains records related to membership governance, including:

• Current roster of Full Voting Members.
• Membership eligibility and status records.
• Approved minutes of membership meetings.
• Records of membership votes and elections.
• Election results for the Board of Directors.
• Written member actions.

The procedures for calling meetings, providing notice, establishing quorum, and conducting member votes are defined in the Bylaws. Any notices issued for a specific meeting become part of that meeting’s records and are retained with the meeting minutes when appropriate.

Board Records

The Board of Directors maintains records including:

• Meeting agendas (when used).
• Approved minutes of Board and committee meetings.
• Board resolutions and written consents.
• Current roster of directors and officers.
• Officer appointments and committee assignments.

Financial Records

The Makerspace maintains:

• Accounting records and general ledger.
• Annual operating budgets.
• Financial statements.
• Bank and investment records.
• Grant agreements and major donation records.
• Documentation supporting required tax filings.

Regulatory Records

The Makerspace maintains copies of:

• California Secretary of State filings.
• California Attorney General Registry of Charities filings, when applicable.
• IRS annual information returns (such as Form 990).
• Business licenses, permits, insurance policies, and other required regulatory documents.

Operational Governance

Additional corporate records may include:

• Conflict of Interest disclosures.
• Document Retention Policy.
• Safety and shop policies adopted by the Board.
• Equipment and capital asset inventories.
• Major contracts, leases, and facility agreements.
• Trademark, copyright, or other intellectual property records.

Record Retention

Corporate records are maintained per Document Retention Policy in secure electronic storage, with physical originals retained when legally or administratively appropriate. Access is provided in accordance with the Bylaws, applicable California law, and Board-approved policies. Certain corporate records may be inspected by Full Voting Members as provided by law and the Bylaws.

Responsibility

The Board of Directors has overall responsibility for the Makerspace’s corporate records.

• The Board of Directors is responsible for governance oversight. The Board adopts policies governing the creation, retention, access, and disposition of corporate records, and ensures the Makerspace complies with applicable legal and fiduciary obligations.

Day-to-day recordkeeping is typically delegated to the Secretary and may also be delegated to the Treasurer, Chief Executive Officer, or other officers or staff or contracted services authorized by the Board.

• The Secretary is responsible for the day-to-day administration and maintenance of the Makerspace’s official corporate records as provided by the Bylaws.

Bylaws

The relevant excerpt from the bylaws is in Article 7 Section 1.

ARTICLE 7, SECTION 1. MAINTENANCE OF CORPORATE RECORDS

The corporation shall keep at its principal office in the State of
California:

​(a)  Minutes of all meetings of directors, committees of the board,
and, if this corporation has members, of all meetings of members,
indicating the time and place of holding such meetings, whether regular
or special, how called, the notice given, and the names of those present
and the proceedings thereof;

​(b)  Adequate and correct books and records of account, including
accounts of its properties and business transactions and accounts of its
assets, liabilities, receipts, disbursements, gains, and losses;

​(c)  A record of its members, if any, indicating their names and
addresses and, if applicable, the class of membership held by each
member and the termination date of any membership;

​(d)  A copy of the corporation's articles of incorporation and bylaws
as amended to date, which shall be open to inspection by the members, if
any, of the corporation at all reasonable times during office hours.