FDA Approved » Achat Cialis Internet Avis

DAVENPORT NOON OPTIMIST FOUNDATION MINUTES
2/7/13
Present: Mike Horsfield, Bernie Mac, Jim King, Molly Mahoney, Rex Hutchison, John Plank
 Minutes: The minutes of the 11/13 board meeting were approved with a motion from Jim King which
was seconded by Bernie Mac.
 Agenda: The agenda was approved with a motion for approval by Bernie Mac which was seconded by
Jim King.
 Financials:
◦ Income for FYTD 12/13 was $6,622.38
◦ Assets: as of 12/31/12 were $112, 439.50. Total balance as of 2/5/13 was $117,000 as a result of
increased valuation of the Vanguard Fund as well as deposits of $145.00 raised from the raffle and
$105.00 from the pool. The American bank checking account balance as of 2/5/13 was $7,000.
◦ Expenses are projected to by $8,000 to scholarships.
◦ Bernie made a motion to have the dividends from the Vanguard fund deposited directly into the
checking account in order to cover any shortfalls which was seconded by Rex. The motion was
approved.
◦ Bernie reminded the members that the Foundation is required to file a bi-annual 990-N form to the
state and that we almost missed the filing deadline.
 Business:
◦ Memorial contributions and thank you cards will be handled by Mike
◦ We have not presented the Foundation budget to the club membership for approval and a date to do
so needs to be set.
 Scholarships: Rex reviewed the recommendations of the scholarship committee which met on 1/23/13
to discuss concerns with the Ivory/Optimist Scholarship. Considerable discussion was held regarding the
committee's recommendations.
◦ One change was that rather than have a committee member rotate off of the board each year we
retain the current membership and actively recruit additional club members to participate in the
interview process in order to insure that we have at least four members from the club participating
which should alleviate concerns about a lack of influence in the selection process.
◦ The committee also recommended that while the scoring matrix includes 15 points to reflect
financial need, the actual “impact” that the awarding of the scholarship should be considered. Rex
explained that this was NOT to exclude any potential candidate but rather to help clarify what was
meant by the term “financial need” on the matrix.
◦ Questions were raised regarding the committee's recommendation to limit the number of recipients
to 6. Rex explained that this was to insure that each recipient's award would be greater and the
actual number of recipients could b fewer than 6.
◦ 5 bonus points could be included for participation in Friendly House or Optimist activities.
◦ Rex will meet with Terry Hendershott to discuss the implementation of the changes.
 Fundraising/Giving Opportunities:
◦ Discussion was held regarding speaking to the club about legacy giving to our foundation or the O/I
foundation in the near future.
The next meeting is scheduled for 5/9/13.