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Fort LeBoeuf School District FOUNDATION
Pride · Commitment · Diversity
2006 Minutes April 27 October 18
2006 Minutes April 27 October 18
Return to Meeting Minutes PageFORT LEBOEUF SCHOOL DISTRICT FOUNDATION
Minutes
April 27, 2006
Present: Benny Hunt, Joe Gausman, Clarence Schrimper, Kathy Proctor, Ron Mennano, Rod Hunt, Kim Heller
The meeting was called to order. The minutes of the previous meeting were read and approved. Unamious.
TREASURER'S REPORT
A discussion was held concerning various ways to present the earnings report to the investors. Kim Heller presented a number of charts and graphs for review. After much discussion a form was decided on and Kim Heller will set up the new reports. Ron Mennano was asked about the DuValle Scholarship and whether it was active or not. The by-laws indicate that after a period of three years with no activity the fund reverts to the General Fund of the FOUNDATION.
OLD BUSINESS:
A motion was made by Ron Mennano to include RCI students as part of the California monies stipulated by the FOUNDATION for needy students ($750 total). The money could be used by either set of classes based on need. Unanimous
The thank you letter Kathy Proctor sent to Paul Tavanna was read.
NEW BUSINESS:
Heritage Days will be handled by the Alumni Committee. Kathy Proctor will handle the particulars, Benny Hunt will handle the advertising.
Fund Paperwork: Pass through accounts (one time funds designated to be totally distributed) need to have specific paperwork to cover this type of account. Joe has prepared what we need. Discussion was held indicating the need to have one time gifts given to the general fund of the FOUNDATION. Could say that the Valedictorian scholarship was made possible in part by 'Class of 1967', for example.
Should make the 'Pass through account' a one year option only. Anything else goes directly into the general fund. Everyone was OK with that concept.
VALEDICTORIAN SCHOLARSHIP
A motion was made by Kathy Proctor to honor Bev Schwab. Second by Clarence Schrimper. Unanimous.
Ron Mennano asked that a specific format be written for him to say at Honors night indicating that these scholarships were invested with the FOUNDATION. Maybe that would help get our name recognized. Clarence Shrimper and Kathy Proctor will handle this project.
Meeting adjourned at 6:45 p.m.
Respectfully submitted,
/s/Kathy Proctor
ADDEDUM
A telephone vote was conducted to change the Honoree for the Valedictorian Scholarship. A recommendation was made to Honor Maureen Kelly and Gary Post for this year. The vote was unanimous.
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FORT LEBOEUF SCHOOL DISTRICT FOUNDATION
MINUTES
October 18, 2006
Present: Benny Hunt, Joe Gausman, Clarence Schrimper, Kathy Proctor, Ron Mennano, Bev Schwab, Dr. Campbell, Steve Erhartic - ECM, Inc.
REORGANIZATION
A motion was made by Clarence that all officers stay in their present positions. Second was made by Ron. The vote was unanimous.
Two seats on the Board are open. Schwab and Schrimper. A motion was made by Ron, second by Ben that they retain their seats. Vote was unanimous.
Benny Hunt will remain as chair of the Alumni group.
MINUTES
A motion was made by Clarence and a second by Ron to approve as presented. Unanimous.
TREASURER'S REPORT
The report is attached for reference.
Evans Capital Management Presentation
Steve Erhartic made the presentation. He gave an overview of the market and what ECM's thoughts are on the situation. They believe the 'Bull' market could cool in 3-6 mo., but they are cautiously optimistic. The S&P is up 10% for the year and the Bond market is positive. We had a CD mature recently and they are deciding where to put that money. He described the various stocks and bonds that we hold and how they will maneuver them. Our present mandate is not very aggressive. Joe suggested that they look into ETF as it is more aggressive, but not wildly so. See the attached report for further details. Our earnings are up 7.44% YTD and 5.99% since inception.
Our criteria for success: Exceed 5% of return each year to stay ahead of the game. Attached is an explanation of how ECM determines performance.
OLD BUSINESS
The DuValle scholarship is still a question as to when it could be rolled into the FOUNDATION account. Kathy will check into this.
NEW BUSINESS
The driving force of the FOUNDATION will be the alumni group. We need to get more people involved. Especially those with children in the District as well as others. Joe offered to facilitate a 'brainstorming' session to see what the next step should be. Objectives to think about:· Raise moneyRon asked that a plaque be made that could be placed in the hallway of the High School that would indicate who had been honored by the Valedictorian scholarship. Bev will look into this project.
· Market the Fund
· Have a vision
· New promo material
· Talk to PTA & PTO groups
· Give examples of what $ is need for
· Emphasize estate planning
· Need alumni mailing
· 1st and foremost need new key people
· Update web site to include link to FOUNDATION page
Meeting was adjourned at 8:05 p.m.
Respectfully submitted,
/s/Kathy Proctor
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