SCLS Foundation Board Annual Meeting Minutes

Thursday, July 25, 2013

1:30 p.m.

Chester Room

4610 S. Biltmore Lane, Suite 101, Madison, WI  53718


Board Members Present:  J. Carter; P. Davis; T. Frankland; P. Hamon; J. Harrington;  P. Kaland; M. Van Pelt 

Board Members Excused:  T. Iaccarino; J. Pugh

Guests/Visitors:   M. Ibach


Call to order:  T. Frankland, Chair called the meeting to order at 1:31 p.m.


Changes to the Agenda and Requests to address the Board:  None


Approval of January 24, 2013 minutes:  T. Frankland moved approval of the January 24, 2013 minutes.  P. Hamon seconded.  Motion carried.


Action Items:
a. Disbursement Policy: 
T. Frankland prepared a disbursement policy and Kerrie Goeden prepared a foundation disbursement recommendation with three options. 

P. Hamon moved approval that donations received into the SCLS Foundation shall become principle unless the donor specifies otherwise.  P. Davis seconded.  Motion carried. 

J. Carter questioned whether or not donations could ever be dispersed based on that motion.  After much discussion, it was suggested the donor card should reflect whether or not the donation is to be put toward the endowment fund principle or as a one- time donation in compliance with the intent of the donor.

SCLS Funds Disbursement:

T. Frankland moved approval that 50% of the annual profit shall remain in the SCLS Foundation portfolio and 50% shall be disbursed to all SCLS members for a purpose that benefits all members, to be determined by the SCLS Foundation Board.  J. Harrington seconded.  Motion carried.

b. 2014 Digital Buying Pool – Request for $5,000: 
P. Davis moved approval to donate $6,188.42 toward the digital buying pool.  (This amount was based on the 2012 profit of the SCLS Foundation, as approved in the disbursement policy).   P. Hamon seconded.  Motion carried.

Approval of SCLS payment of Foundation bills:  T. Frankland moved approval of the bills for payment in the amount of $2,993.01 (January 2013 to June 2013).  P. Davis seconded.  Motion carried.


Financial Reports

a. Monroe Public Library Project:  The Monroe Public Library is pulling out all of their funds from the foundation except for $500.  The $500 will allow them to remain as an active member of the foundation. The library is using the funds for library renovations.

Other Business


Cornerstone Award

a. New name for top level donors:  The board recommended the following change (from top level to bottom):

Legacy, Benefactor, Steward, Advocate, Patron, Friend, Supporter, Sponsor

b. List of names from recipients:  T. Frankland will follow up with Katharine Curtis and Bill Zimdars to finalize their recipient lists. 

c. Update on Sponsor recruitment:  P. Hamon noted Scott Haumersen, Wegner & Associates, has volunteered to donate $500 toward the event.  Also Madison Central will allow alcohol at the event.


Other business:

a. Website Revision:  M. Ibach shared the website revisions and the board provided input on small changes that could be made including adding a Cornerstone link which lists the “sponsors/hosts” of the events.  Mark also noted the foundation newsletter will include an article from P. Kaland, the disbursement policy, the funding for the digital buying pool, and Monroe Library’s use of their foundation funds for library renovation.

b. Rename SCLS Endowment Fund to avoid confusion with Community funds:  The SCLS Foundation contains two “sub-funds”, one being the SCLS Endowment fund and the other being the various Community library funds.  The board did not think that the SCLS Endowment Fund needed to be renamed.


Next Meeting October 24, 2013


Adjournment:  3:20 p.m.

Heidi Moe, Recorder