Board Meeting Minutes February 2014

Tapestry Folkdance Center
Board Meeting
February 17, 2014

Present
Olsen, Gordon
Marc Scovill
Graebel Beermann, Claudia
Cummings, Mary (Executive Director)
Forsberg, Roger
Carole Wilson
Ron Williams
Hassan Saffouri
Roger Schaffhausen
Barbara Beltrand
David Kirchner

Absent
Tuvia Abramson

Minutes: January board meeting minutes were approved.

Budget:

We reviewed 1st half of the fiscal year along with the proposed revised budget. The total revenue predicted by the revised budget is only slightly smaller than the original budget (the difference is $1400). Board Members reviewed additional information submitted by Mary; see separate document. The revised budget was passed unanimously.

Tapestry currently carries a balance of close to $60,000 in a checking account. Due to extremely low interest rates, it would be more beneficial to invest some of the money in short term CDs. Motion made to authorize Mary to investigate and invest a portion of this money in short term CDs. Mary will check to make sure that we do not incur any fees if we have a lower checking account balance. Motion approved.

Executive Director’s Report

Contributions:
We reviewed the Donor History Report. Discussion ensued to contact former contributors and talk to them about the possibility of making another donation. A number of Board Members volunteered to contact former donors.

Sustaining memberships:
We clarified that the minimum sustaining membership is $10 and an annual membership is $70. Discussion ensued about restricted donations. Donors may donate money; however stipulate that the money has to be used for a certain activity. When such donations come in, we have to be careful that the requested activity is within Tapestry’s mission and we can fulfill the obligations.

Mary attended a workshop presented by the Metropolitan Regional Arts Council, covering non-profit organizations, objective outcomes and measurements. She attended a second workshop at Hamline, Small Family Foundations. Small family foundations are designed to donate to smaller organizations.

We reviewed attendance statistics and compared July-Dec 2012 to July-Dec 2013. Areas of concern are International Intro; attendance is down significantly. Highlights include lively attendance of the ballroom dance once per month.

TC Swing letter:

Ron revised the letter he had drafted on behalf of the Board based on board member comments. A short discussion ensued about possible misinterpretations of our action of sending an apology.
Further discussion ensued about the possibility to include swing dances in the future. We continue to strive to provide a variety of dance opportunities and will stay true to our non-profit structure and to team up with organizations/individuals who desire the same.
Nominating committee:
A short discussion ensued about adding members to the nominating committee. We reviewed the Board of Directors Role Description document.
Committee report:
Fund development:
When approaching dancers to serve on the board we can also let them know that, if they do not want to commit to serving on the board, there are other opportunities, such as serving on the Fund Development Committee. One of the objectives of this committee could be long term planning for building improvements (capital improvements).
Marketing Committee:
Minimally active at this time. Ron made a proposal to the Student Union and Activities for a collaboration for international dance
Facilities:
Project based committee. Roger S. suggested to create a long-term plan for potential replacement or upgrades (such as HVAC, for example). Sound equipment falls under Facilities.
Follow up from last month about how to contact board members. We will explore establishing an email address for the Board. This email address would be published on the Tapestry website.
Meeting adjourned.

Next meeting: March 17, 2014

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