Board Meeting Minutes February 2015

Tapestry Folkdance Center
Board Meeting
February 16, 2015

Present
Gordon Olsen
Claudia Graebel Beermann
Mary Cummings, (Executive Director)
Jeanne Novak
Carole Wilson
Ed Stern
David Kirchner
Tuvia Abramson

Absent
Marc Scovill
Todd Petersen
Barbara Beltrand
Madhu Bangalore

1. Minutes: January minutes were approved.

2. Financials:

Mary presented a revised budget, taking into consideration the current level of contributions and projections to the end of our fiscal period.

Income:
• We have received many and very generous contributions.
• The largest amounts received are for the building renovation campaign.
• Thanks to an anonymous donor who has offered a donation match, we will have a matching campaign starting approximately in March.
• In addition to current operational funds and the building campaign funds we also have at least 6 months of reserves to cover operational costs, in case of need.
• We will not receive funds from the Nash Foundation.
Expenses:
• Number of hours for the financial assistant and the Marketing/Tech Assistant increased due to additional duties and tasks.
• Artist fees and credit card processing fees were increased.
• Expense added to cover license fees charged by BMI Music out of Nashville.

The board approved the revised budget.

3. Executive Director’s report:

• Hummel update: a letter was sent from the board of directors, via our attorney, to Ms. Hummel, via her attorney.
• The Board went into closed session at this point. No further decision arose during the closed session.
• New donor news (see comments in Financial section)
• Minnehaha paving project assessment
o A single payment, payable by end of 2016 is approximately $38K;
o If we chose to pay in annual installments, over 20 years, the amount would almost double. We estimate an annual payment of $3600.

4. Committee reports

• Fund Development (Carole)
o The committee is working on updating language and explanations for different types of giving (for example, planned giving)

• Conflict of Interest Statement (Ed)
o Moved to next meeting

• Policies/Procedures (Claudia)
o Claudia, David & Todd will meet on Thursday for a review of the document
o The group will determine which documents should be posted during this review.

• Committee Structure Revision (Ed)
o Ed and Tuvia have created a document and are close to reviewing it with the entire Board.
o Among issues to be discussed are:
 Chair person and officers for each committee
 Money handling and creating a procedure that insures consistent application of appropriate accounting practices.

• Nominating Committee
o Robin Murie has agreed to serve on the nominating committee

• Mirrors in large studio: deferred to next meeting

5. New Business

• A ‘free dance’ to thank dancers, members, donors for their involvement. The dance is meant to celebrate our very successful fundraising year. (Carole)
• A potential date may be later this year, on a Sunday afternoon.
• The dance would feature the different types of dances offered at Tapestry (international, English Country, Contra etc.)
• Social Dance Studio is closing in May. The current tenants are looking for other spaces.
o Martha has already scheduled a small program.
o Mary received several requests to pursue bringing TC Swing dance back to Tapestry
o TC Swing has not approached Tapestry and inquired about the possibility to rent space at Tapestry.
o Discussion ensued about how we should proceed.
o Board members present discussed and agreed that we will follow current practice and not contact TC Swing as we do not contact other businesses or dance groups to initiate possible business opportunities.
o Mary will contact Social Dance Studio to find out if they are selling equipment we may be able to use for Tapestry.

Meeting adjourned.

Next meeting: proposed March 23rd, 7:30pm.

Posted in Board Meeting Minutes
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