Board Meeting Highlights

Board Meeting Highlights

Last Updated: 4/24/2019

2018-19 Board of Directors
April 17, 2019 Meeting Minutes

Members Present: Steve Hutchinson, Randy Bernstein, Christie McDonald, Mary O’Leary, Mike Raz, Paul Riess and Ted Stevens.
The meeting was called to order at 4:05 PM, by President Steve.

1. Consideration of the Minutes of the March 2019 Foundation Board Meeting: Paul moved the approval of the March 2019 Board meeting minutes. Motion passed unanimously.

2. Treasurer’s Report: Treasurer Paul gave the report.
a. Online Access to Columbia Bank Accounts: Paul reported that he now has online access to the Foundation’s accounts at Columbia Bank. He stated that he would help Tony Reyneke, Foundation Accountant, gain access, as well.
b. Account Balances on Restricted Accounts: In Tony’s absence, this information was not available.
c. Checks Written: Paul reported that no checks had been written between the March Board meeting and today.
d. March 31 Balances on Accounts at Columbia Bank: Paul reported the following: General Fund – $18,457.90 and Fundraising – $65,297.01. He also shared that the separate checking account for the Emergency Fund had been closed and its balance ($617.90) moved to the General Fund.
e. Ability to Track Transfers from the Club: Given online access, Paul reported that he can now track transfers from the Club to the Foundation’s accounts.
f. Report on Meeting with Incoming Club Treasurer: It was reported that Steve, Paul and Tony had a lunch meeting with Matt Adams, the incoming Club Treasurer. This was described as a meet and greet event, since Matt has had little opportunity, to date, to get together with Scott Wilber for an orientation to the job.

3. Status of Thank You Letters to Donors to the Shaw Scholarship Fund: It was reported that Amanda Adams created a fillable “thank you letter” template for use by the Foundation. Since Paul had not seen this template, Christie volunteered to forward it to him. Paul stated he has a list of the donors who contributed to the Fund prior to the Speakeasy fundraiser and, once he has the template, he will generate letters to these individuals. Regarding the donors who contributed to the Fund at the Speakeasy, he shared that he is waiting to receive this list of donors.

4. Status of Shaw Scholarship Fund:
a. Funds Contributed, to Date: Paul reported that contributions totaling $8,025 were received prior to the Speakeasy. Based on a report from Patric Miller, $15,200 was donated to the Fund at the Speakeasy “paddle raise.” By prior agreement, the latter amount will be matched up to $15,000 by the Foundation. With this match applied, the balance in the Fund is $38,225.
b. Administration of the Fund: Steve stated that this scholarship fund will be administered by the Foundation’s Scholarship Committee. He shared that he has asked the Committee to recommend criteria for the award of scholarships from the fund.
c. Allocation between Current Use and an Endowment: Steve reported on his discussions with Debbie Snow about the use of Shaw Scholarship funds. Following this report, the discussion on their use was extensive. In the end, the following actions were taken:
(1) Moved by Randy to put $6,000 into a restricted account for the purpose of awarding two $3,000 scholarships, one in school year 2020-21 and a second in school year 2021-22, and that the remainder of the funds raised, to date, be placed in a Shaw Endowment Account. This motion passed unanimously.
(2) Moved by Ted that any additional contributions to the Shaw Fund be allocated 85% to the endowment account and 15% to immediate use, unless the donor directs otherwise. This motion passed unanimously.
(3) By consensus, it was agreed to defer discussion on funding for an arts program for local youth until Debbie Snow is available to attend a Foundation Board meeting. The desire to resolve this matter at the May Board meeting was expressed.

5. Status Report on the Joint Ad Hoc Committee to Address How the Foundation and Club Boards Interact: It was reported that this committee will hold its first meeting on May 7. As a result, no update was available.

6. Foundation Page in the SpinOff: Christie reported that she plans to dedicate one page of the SpinOff in Rotary Year 2019-20 to Foundation education and news. She asked other Board members for input on information to present on this page. The following topics were suggested: fund balances in the Foundation’s various accounts, investment results, education on the differences between TRF and SRF, education on the endowment funds being held by the Foundation, and information on how to set up a restricted account.

7. Review of Draft Guidelines for Setting Up Restricted Accounts within the Foundation: The proposed guidelines created by Steve were reviewed and discussed. While there was general agreement with these guidelines, some redundancy was noted. Christie volunteered to rework them by creating a one-page “application” form. This form will be circulated among Board members for one last opportunity for review and comment.

8. Scholarship Committee Report: Randy gave a status report. Several topics were covered:
a. Youth House Scholarship: Randy reminded the Board that a scholarship fund was created by a “paddle raise” at the 2017 Wine & Salmon Festival for housing for graduates of the SVdP Youth House. These funds are being held by SVdP and the scholarship will be administered that agency. However, since the money in the fund was generated by the Southtowne Rotary Foundation, we are being given the opportunity to help draft the criteria for its use. Randy reported that he has a meeting with representatives of the Youth House next Monday to work on these criteria.
b. College Scholarships for High School Seniors: Randy reported that the Scholarship Committee is in the middle of reviewing scholarship applications. First ever applicant interviews are being held on April 23. The Committee hopes to make decisions on scholarship awards by the end of April, with presentations at a Club meeting in May.
c. UO School of Music and Dance Update: Mary reported that the UO School of Music and Dance is trying to arrange for the recipients of the Singer Scholarships to attend an upcoming Southtowne Rotary meeting to express appreciation for their awards.

9. Election of a Vice President of the SRF: Given the resignation of Mark Gissiner, Steve shared that he would like to have the position of Vice President filled. Christie was nominated. By unanimous consent, the Board elected Christie to fill this position.

10. Date and Location of the Next Foundation Board Meeting: Steve announced that the next meeting will be held on May 15, 4 PM, at his home.

The meeting was adjourned at 5:15 PM.
Respectfully submitted,
Ted Stevens, Secretary