Minutes

ACBL Educational Foundation

Board of Trustees

Denver, CO

November 19, 2005

President Geoffrey Cross called the meeting to order at 9:30 a.m. Saturday, November 19, 2005.

Present:            President Geoffrey Cross, Vice-President Donald Mamula, Treasurer Jerry Thorpe, Secretary Eugene Kales, Richard Anderson, Phyllis Harlan, Dewitt Hudson, , Jonathan Steinberg. 

Absent:             Christopher Shaw [as per Bylaw V.3. absence was approved for cause, no dissent]

Also present:    Jay Baum, ACBL CEO, Jose Damiani WBF, Joan Gerard, District 3, and Charlotte Blaiss, ACBL Education Department.

4.a.      Consideration of a special grant submittted by Steinberg for Junior Bridge Camps was taken up first because guest speakers on its behalf were present.  Steinberg reported that the Board of Directors is aiming about $200,000 toward youth marketing efforts.  Jay Baum said that there is not enough money to fund this Junior program at past levels given the small number of participants.  Management has taken the direction of trying to impact greater numbers for the dollars; it was a “business/marketing” decision; the college fund was also cut.  The Junior Fund has an annual income is approximately $150,000 and much is committed to existing programs with matching-fund agreements with the Educational Foundation.  Questions about liability were raised, but it was generally felt that the Foundation would not be liable as we are not the sponsoring organization.  Several Trustees asked what makes the overseas Junior Camp a worthy project for specific Foundation consideration.

            Joan Gerard introduced Jose Damiani to the Trustees, and he was warmly welcomed by President Cross and all the members of the board.

1.                                                         Approval of Minutes

The minutes of the July 22, 2005 Atlanta, GA meeting were approved without dissent after correction of place and date in header and grammar in 5.b.

2.                                                         President’s Report

2.a.      President Cross noted for us the results election of Educational Foundation Trustees by the BoD: Don Mamula was reelected and is joined by new members Jim Kirkham and Flo Belford.  New and returning trustees are welcomed to the Board.

            Cross also reported that Christopher Shaw informed him that the preliminary results for the Carlinville project appear favorable, but that he had a car accident and would be unable to make the meeting.

2.c       President Cross  reported on his efforts dealing with the Mahaffey Restricted Fund. (Exhibit A)  The Mahaffey Fund will upon mutual agreement be terminated and the remaining balance of $66,000 transferred back to the donor.

Cross also reported on the Shoop Fund.(Exhibit B)  The Palace of Sports will not honor the promise of $84,000 made in 1997.  The ACBL in managing the Pre-Teen Scholarship program awarded future scholarships which exceed total Fund assets. President Cross and Treasurer Thorpe recommend that (1) The Foundation immediately suspended all activity in the Homer Shoop PreTeen Scholarship program; (2) The Foundation restore the balance in the Shoop Fund for the annual King/Queen of Bridge Award to the originally planned “in perpetuity” amount of $25,000; (3) The commitment of funds for the PreTeen Awards made by the ACBL without authorization by the Foundation be the responsibility of the Shoop Palace of Sports and the ACBL, not the Foundation.

2.b.      Cross reported that there were no intermeeting disbursals from the Discretionary Fund.

3.                                                         Treasurer’s Report

3.a       Foundation Treasurer Jerry Thorpe reported that Foundation income from $2 donations has decreased substantially compared to previous years. Thorpe presented the proposed budget for 2006.(Exhibit C)  Foundation unrestricted assets as we near year’s end are just over $330,000.

            Cross will write an article for the ACBL Bulletin about the Foundation and the projects we fund with donations from members.

3.b       Thorpe reported on an expenditure of $4,500 from the Pender VuGraph Fund for equipment

            leaving a balance of $8,700 which when spent will terminate the fund.

Mamula moved that the Foundation explicitly note that any amounts which appear in a “Projected Budget” are only guidelines not expenditures which have been approved.

4.                                                         Grants

4.a.      Jonathan Steinberg moved that  The Foundation will, for up to fifty Juniors who are ACBL membets in good standing of Zone II, provide a subsidy of $250 toward tuition for the North American Juniors who apply and are accepted to go to the 7th World Junior Camp, Piesztany, Slovakia, 3-10 July 2006.  (Exhibit D) During discussion it was noted that these Juniors are expected to be ambassadors to the next generation; some become teachers, others rising stars in the world of bridge.  Others felt that, for the amount of money invested, the program did not have a broad enough impact, and that in these more financially difficult times Foundation support should have bigger bang for the buck.  Motion defeated. [aye: Anderson, Kales, Steinberg; nay: Harlan, Hudson, Mamula, Thorpe; abstain: Cross; absent: Shaw]

4.b.      Sandra Stevens submitted a grant request for partial funding of the 49th Annual ABTA Convention, Seminar and Awards Banquet at the Chicago NABC this coming summer. (Exhibit E)   The funds are not requested until May 2006, so motion was made that the trustees carefully consider this request after the meeting and relay their aye or nay to the President who will, if a majority of the board approves, authorize, with the concurrence of the Treasurer, a disbursal from the Discretionary Fund..

5.                                                         Old Business

5.a.      Dewitt Hudson reported on the Brazos Valley grant. (Exhibit F)  The final amount disbursed was $2,318.  He expressed some reservations about whether the objectives of the grant would be achieved.

5.b.      Kales sold cheaply a laptop computer to Barb Nance for the Brazos Valley use.

5.c.      Unused funds from the Fairfield Bay grant have been returned in April and June of this year totalling $815.21 and $351.60 from the $3,500 disbursed.

5.d.      Kales submitted a technical amendment to Foundation bylaws which would eliminate contradictory statements of when newly elected trustees would take office. (Exhibit G) Mamula will send the amendment to the Board of Directors which will vote to approve or not at the next “Membership” Meetings of the Foundation.  Mamula to prepare any other bylaw amendments

5.e.      Audit Committee to be established at the Fall meeting to review the Foundation financials with the Treasurer before the Spring meeting.  Current committee consists of Chairman Christopher Shaw, Phyllis Harlan, and Dewitt Hudson.  Mamula moved that selection be deferred until after election of Foundation Officers.

6.                                                         New Business

6.a.      President Cross presented a suggested outline of Foundation policy on how to authorize disbursals from Unrestricted and Temporarily Restricted Funds. (Exhibit H) This statement of policy was adopted, as corrected, unanimously by the trustees.

6.b.      Vice President Mamula submitted a motion concerning approval of grants which involve trustees as beneficiaries.  Copies were distributed to the trustees.  Discussion soon made it apparent that this proposal has many ramifications which require careful consideration and therefore this item is deferred to the Spring meeting in Dallas.  Secretary to distribute copy of this motion via email for comment by trustees before Spring meeting.

6.c.      New Member Packets need to be constructed for all incoming trustees.  Secretary Kales shall collect suggestions from trustees and compile a Packet for new members Kirkham and Belford. 

            Updated Trustee Info, Addresses, etc., needs to be distributed and new badges need to be ordered for Kirkham and Belford; also for Thorpe as Treasurer.

6.d.      Dewitt Hudson moved that when grants in excess of $5,000 are approved, initially no more than one half be disbursed, the remainder to be disbursed upon confirmation of the successful progress of the program.  Consideration of this item is deferred to Dallas.

7.                                                         Miscellaneous

7.a.      Nomination and election of Foundation Officers.:  Geoffrey Cross nominated for President; Don Mamula nominated for Vice President; Jerry Thorpe nominated for Treasurer; Eugene Kales nominated for Secretary.  All candidates were unopposed and elected without dissent.

7.b.      Secretary showed the sample of the Educational Foundation pin which will be produced and distributed to all current and past members in good standing of the Board of Trustees.

7.c.      Outgoing Trustees Anderson and Kales thanked for their service to the Foundation.

The meeting adjourned at 11:30 am

5.e.      [Audit Committee to review the Foundation financials meets with the Treasurer before the Spring meeting.  In the absence of a formal motion, the previously empanelled committee of Christopher Shaw Chair, Phyllis Harlan, and Dewitt Hudson shall be assumed to be extant.  This was confirmed among the members via email]