Eugene Southtowne Rotary Foundation Board of Directors Meeting Minutes

March 10, 2021

Members Present: Steve Hutchinson, Gary Brown, Sam Miller, Christie McDonald, Michael Raz, Paul Riess, Ted Stevens, and Kyle Williams.

1. Call to Order: The meeting was called to order at 5:05 PM by President Steve. In Susie’s absence, Steve asked Ted to take minutes.

2. Consideration of Minutes from Previous Foundation Meeting: A motion to accept the minutes as presented was made and approved.

3. Treasurer’s Report: Ted’s report on financial activity, account and restricted fund balances, status of thank you letters for donations of $250 and more, pending requests for transfers to the Club, and investment returns is appended to these minutes. In addition, he reported on the following:

a. Change in Accounting Method for Assets : A memo detailing the reasons for the shift in the method for accounting for Foundation assets from “book value” to “market value” was presented. The impact of this shift on the value of these assets was also shared. It was noted that the Foundation’s financial statements now are in sync with the statements received from Charles Schwab. In addition, realized and unrealized investment gains and losses are now showing on the Statement of Activity (a.k.a., Profit and Loss Statement).

b. Budget Proposal for Fiscal Year 2021-22: A budget proposal for FY 2021-22 was presented and discussed. Mike asked that $500 be added to Expenses for the printing of PR materials. Following this addition, a motion was made and carried to approve the FY 2021-22 Foundation budget, as amended.

4. Shaw Endowment Agreement: Steve presented the agreement, which had been forward ed to Board members in advance of the meeting. He noted that the version being considered was produced following considerable online discussion and editorial work by several Board members. A motion was made and carried to approve the agreement, as presented.

5. Non-Discrimination Policy: Steve presented the proposed nondiscrimination policy statement. As with the Shaw Agreement, he shared that several Board members offered input to this policy statement prior to its finalization. A motion was made and carried to approve the non-discrimination policy statement, as presented.

6. Report of the ad hoc Committee for PR and Marketing: Mike gave an extensive report noting, in addition to himself, that the following Club members are serving on this committee: Christie McDonald, Paul Riess and Deanna Rivera. He reported that the primary focus of the committee is the promotion of the Scholarship Program within the Club and in the larger community. A secondary focus is raising the visibility of the Foundation with Club members. He indicated that the committee is in the research phase of its work, gathering promotional materials that have been used successfully by other local Rotary Clubs (especially, Airport Rotary) and other local religious and educational institutions. He shared that the committee plans to present a PR/Marketing Plan proposal to the Board at its June 2021 meeting.

7. Progress Report from the Scholarship Committee: Kyle reported that the Scholarship Committee is already working on the solicitation of applications from graduating high school seniors for scholarships to be awarded in May or June for the 2021-22 academic year. During his report, he asked Gary to see if a member of the Springs Satellite Club would be willing to serve on this committee. Kyle reported that he has reached out to the McChesney family regarding the funds that were donated last year at the time of Bill McChesney’s death. Since it doesn’t appear that additional donations will be forthcoming, the money in-hand will be used for a single scholarship in keeping with the family’s desires. In a similar vein, he stated that a subcommittee will be appointed to develop the qualifications and criteria for the awarding of Bruce Shaw Endowment Scholarships. Finally, Kyle shared that several committee members are in the process of contacting past scholarship recipients to learn how the receipt of Southtowne scholarships impacted their schooling. The information being compiled will be used for promotional purposes, including publication in the SpinOff, where the committee hopes to have aregular presence.

8. Policy for Checking Writing Authority: The Board was asked to consider a policy statement defining check writing authority for the Foundation. This policy authorizes the President, Vice President and Treasurer to sign checks, with only one signature needed on any given check. It covers all checking and investment accounts, and charges newly appointed officers to process the paperwork needed to remove individuals no longer in office and add themselves to these accounts. A motion was made and carried unanimously to approve this policy statement.

9. Discussion of a Memorial Scholarship for Scott Wilber: Steve initiated this conversation. Mike shared that he was Scott’s sponsor for membership in Southtowne and that he has knowledge of the dynamics within Scott’s family. He advised that the Foundation wait for direction from the family before moving for- ward on Steve’s idea of it creating a memorial scholarship in Scott’s name. Ted reported that Glen Brigham and Brena Anderson are assisting Scott’s daughters with settling his affairs. They are also trying to determine the family’s wishes for memorializing Scott’s life. Given their leadership in this matter, it was agreed that it would be premature for the Foundation to move on anything concrete until direction is received from the family. Following this discussion, the question was asked if the Foundation plans to create “named” memorial scholarships for all members upon their death. This question prompted a suggestion that the Founda- tion create a fund that can be the repository for most, if not all, future memorial donations. It was agreed that the Board should explore this idea of creating a generic Memorial Fund.

10. Consideration of Report and Recommendations of the Joint Club-Foundation Committee on the Future of Southtowne’s Scholarship Program: Ted presented the report and recommendations. He provided background on this topic, shared the names of the individuals who served on the committee, reported on its deliberations, and presented its five formal recommendations, plus a sixth recommendation concerning the naming of the SOS program. Following a brief discussion, a motion was made and carried unanimously to approve the recommendations of this committee.

11. Next Meeting: The next meeting of the Foundation Board of Directors was scheduled for Wednesday, April 14, 2021, at 4:00 PM via Zoom. The meeting was adjourned at 5:05 PM.

Respectfully Submitted, Ted Stevens, Secretary Pro Tem