Board Meeting Highlights

Board Meeting Highlights

Last Updated: 6/29/18

Eugene Southtowne Foundation Board of Directors

Meeting Minutes, June 13, 2018

Members Present: Steve Hutchinson, Mark Gissiner, Jantzen Lloyd, Mary O’Leary and Ted Stevens.

The meeting was called to order at 4:15 PM, by Steve Hutchinson, President.

1. Consideration of the Minutes of the May 2018 Foundation Board Meeting: Moved by Jantzen, seconded by Mark, and carried to approve the Minutes of the May 2018 meeting.

2. Treasurer’s Report: Since Jim was unable to attend the meeting, no formal Treasurer’s report was available. Steve shared that Jim plans to get together with Scott Wilber in the near future to resolve an outstanding issue – the extent of funds available from the sale of Moldovan paintings for the Club’s local literacy programs. (Per Scott, the accounting presented a month or so ago showed gross receipts but did not include related expenses.)

3. Status of the Development of Foundation Letterhead and Scholarship Certificates: Steve circulated examples of the letterhead and scholarships certificates created by Christie McDonald. He also shared an example of the scholarship certificate used by Airport Rotary. This certificate contained gold foil. Prices for printing two-color letterhead, envelopes and certificates (with and without gold foil) were shared. Members provided the following direction to Steve: (1) drop the idea of gold foil (too expensive); (2) explore with Christie the idea of including the Rotary wheel on the letterhead and scholarship certificate; and (3) explore with current Club leaders the idea of using the Club’s P.O. Box as the Foundation’s mailing address rather than using the Treasurer’s business address. Steve agreed to work to implement these directions.

4. Discussion of the Need for Directors’ and Officers’ Liability Insurance: Ted provided background on this topic, sharing that a workshop presenters on club foundations at the recent District Training Assembly informed attendees that club foundations are not covered by RI’s liability insurance policy. The workshop attendees were urged by presenters to consider purchasing D&O liability for their respective local foundations. Steve questioned the need for this insurance. He felt that the Southtowne Rotary Foundation had little exposure to liability other than malfeasance. Notwithstanding this opinion, he agreed to ask the president of Delta’s foundation whether it has purchased D&O liability insurance and he asked Ted to check with Gary Schwieger about the availability and cost of such insurance.

5. Report on History of Amounts Awarded for Scholarships by the Foundation: Steve reported that he asked Jim and Tony to develop a history of extent of scholarships given out by the Foundation over the years. He circulated the document they created, showing scholarship awards back to 2009. He reported that Randy Bernstein disagreed with Jim’s and Tony’s findings. To resolve this matter, Steve reported that Randy and Tony will get together next week to review this matter and develop a definitive history of the Foundation’s scholarship awards.

6. Form for the Club to Use to Request Money from the Foundation for Service Projects: Ted provided background on this topic and shared the application form developed by the Club for the committees to use to solicit applications for service project funding. He shared his belief that this form included enough information to satisfy the Foundation’s needs for documentation and, as a result, suggested that the Foundation require Club use a simple one page form to request service project funding with the caveat that the relevant project applications be attached to this form as documentation. This approach was agreed to by consensus. Steve asked Ted to develop a proposed one page request form. He agreed to do so.

7. Release of Scholarship Funds to the U of O School of Music and Dance: Mary reported on her work with the U of O School of Music and Dance to identify local students to receive funds from the Georgiann Singer Memorial Scholarship Fund. She shared that the School has selected two recipients – Jessica Searl, a college sophomore who graduated from Churchill High School, and Ally Jackson, an incoming freshman who is graduating from South Eugene High School this month. It was moved by Jantzen, seconded by Mark, and carried that the Foundation Treasurer be authorized to disburse the Singer Memorial Scholarship funds ($5,442) to the U of O for use by the School of Music and Dance for equal scholarships to Ms. Searl and Ms. Jackson. Following this action, Mary stated that she will communicate this decision to Dr. Singer, the widower of Ms. Singer.

8. Dispersal of Scholarship Funds to Project Amigo: Steve asked that the Minutes of this meeting reflect an action taken by the Board through a recent electronic vote to authorize the disbursal of $1,050 to Project Amigo for scholarships funding. These funds were derived from the 2017 W&SF special appeal for Project Amigo scholarships.

9. Southtowne Rotary Foundation Goals for 2018-19: Steve presented six goals for the Board to consider. It was moved by Ted, seconded by Mark, and carried to accept these goals for 2018-19, as proposed. The approved goals are listed here:

  1. Our investments are currently just floating with little direction, costing us fees but earning little. We need to move our funds out of Morgan Stanley and get them in a situation where they start producing.
  2. The SRF needs a clear brand and that means letterhead and certificates for awards. We need recognition with donors when we send a thank you letter and when we’re fundraising.
  3. We need to formalize the transfer process for money that goes to the club in a standardized way so we don’t have issues with what its for or how its used.
  4. We need to standardize the way restricted funds are accounted for that is not dependent on someone’s memory.
  5. We should not have any “urgent business”. Nothing SRF does demands a “Friday check for a Monday payout”.
  6. We should have carefully considered and discussed processes to insure good stewardship of the money and improving the SRF capacity to fund the good work Rotary does.

10. Member to Replace Bruce Shaw on the Foundation Board: Steve charged each Board member to propose the names of three candidates to replace Bruce on the Foundation Board. He suggested that members speak to their candidates prior to the next Board meeting to gauge their interest in serving on the Foundation Board.

11. Date of Next Foundation Board Meeting: Members decided to skip a meeting in July. As a result, the next meeting of the Board will be held on August 8, 2018, 4:15 PM, at the Vets Club.

The meeting was adjourned at 5:00 PM.

Respectfully submitted, Ted Stevens, Secretary