College of the Siskiyous Foundation Executive Committee Meeting Minutes of March 8, Action Items:

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1 College of the Siskiyous Foundation Executive Committee Meeting Minutes of March 8, 2011 Present Rand Roselli Jack Cook Angel Fisher Randy Lawrence Connie Warren Greg Messer Connie Marmet Margaret Dean Kent Gross Dawna Cozzalio Excused Dawnie Slabaugh Renata Funke President Cook called the meeting to order at 7:38 a.m. Consent Agenda: Action Items: Item 1: Approval of Meeting Minutes February 8, 2011 The minutes of the February 8, 2011 meeting were approved with one change. Ms. Marmet requested the motion for Item 2. To state: to approve Foundation Fiscal Report including IRS Tax Form 990 Review. Motion was made (Messer / Dixon) to approve the consent agenda. Motion passed. Item 2: Approval of Foundation Fiscal Report Regular Agenda: Motion was made (Messer / Dixon) to approve the Foundation Fiscal Report. Motion passed. Item 3: Foundation Money Management Mr. Messer distributed a handout on the Foundation financial pressures for The handout showed three items needing financial commitment for the next year. These items are: RHSI, Eagle s Nest Expansion, and the Performing Arts Series. Total financial need is: $111,500: RHSI $80,000 Eagle s Nest Expansion $25,500 Performing Arts Series $6,000 Mr. Messer said for the remainder of 2011 the expected incoming revenue should be approximately $40,000, this would leave $71,500 of unfunded financial need. Mr. Messer recommended the Committee consider approval of subsidizing the remaining EC Minutes Page 1

2 $71,500. Ms. Marmet requested an additional $20,000 be included in the motion for the Foundation to assist with any campus needs that may arise in the future. Motion was made (Messer/Marmet) to approve the $71,500 for unmet Foundation financial needs, with an additional $20,000 to support campus needs totaling $91,500. This money would be withdrawn from the unspecified long term investment account. Motion passed: 8 ayes, 0 noes, 1 abstention Lawrence. Item 4: Eagle s Nest Expansion Mr. Messer said the Eagle s Nest Expansion Team met on February 8, At this meeting, members identified many possible ways to expand sales at the Eagle s Nest. Ideas under consideration are: Expanded Advertising Window Signs Selling additional retail products (jewelry, candy, etc.) Streamlining the internal process. Mr. Messer said that Eagle s Nest Coordinator, Angel Fisher said implementing these ideas will show a slight increase in sales. However, in the long term she felt the size of the current location is limiting the possible revenue. The best solution to increase revenue would to be to relocate the Shop to a larger facility. Ms. Fisher suggested looking at the Country Drug building in Weed owned by Paul and Vivian Willis. Mr. Messer said during this meeting he would make the initial contact with the Willis. Mr. Messer said following the February 8, EN Expansion meeting he did met with Vivian Willis, owner of the vacant Country Drug building. This retail space has approximately 5,000 square feet. Mr. Messer said Ms. Willis is willing to lease the building to the Foundation at the cost of $.30 per square foot with a two to three year lease and right of refusal to purchase option Mr. Messer has developed a spreadsheet detailing the potential expenses and revenue of the relocation to a larger facility. He explained with added space, there would be additional costs: higher rent, higher utilities, product expansion costs, etc. Mr. Messer also said the Committee needs to be realistic with its expectation of revenue. He does not foresee a huge revenue increase in the first three years if the Shop were to be moved. He recommended the Committee consider these items when deciding to move forward with the relocation. The overall consensus of the members present was that moving the Eagle s Nest to a larger facility is an excellent idea. However, some members expressed their concern regarding a short term lease. The Committee would like the lease to be a long term lease or a lease with the option to buy. Motion was made (Messer/Marmet) to approve the relocation of the Eagle s Nest with the condition of a long term lease option. Motion passed: 8 ayes, 0 noes, 1 abstain. EC Minutes Page 2

3 Item 4: Committee Reports Eagle s Nest Advisory Committee/Expansion Task Force Ms. Fisher said sales have been steady throughout the first two months of the year. Special Events: i. President s Gala Banquet The banquet will be held March 26 in the Learning Resources Center Foyer. Lilys Restaurant has been chosen as the caterer. Special awards will be presented to: Karen Zeigler COS Distinguished Alumni; Dennis Freeman Lawrence Moran Distinguished Service Award; and, Fairchild Medical Center COS Partner of the Year. ii. Scholarship Dinner The dinner will be held April 16 at the Weed Son s of Italy Memorial Hall. Chartwell s Food Service has been chosen as the caterer. The theme for the event is All Things COS. Tickets have been sent to all Foundation members and Scholarship Committee members to sell. Scholarship Foundation scholarship applications are due March 15. Many students have shown an interest in applying. The Readers Committee will be meeting April 5 to review and select recipients for 2011/2012. Performing Arts Series Ms. Marmet reported the following: The Performing Arts Committee met February 15 with the next meeting scheduled for March 15 at 10 a.m. Kenya Safari Acrobats o Approximately 432 tickets were received by the Theater Box Office. o Full house for free school performance held on March 7. o Several block sponsorships including Yreka Kiwanis, 5 Star Kiwanis, Student Support Services, Lake Shastina Red Hatters, Associated Student Body, and RemiVista o COS Diversity Council sponsored a cast dinner in the COS Dining Room. Increase Revenue/Control Expenses for 2011/12 season o Detailed budget by performance o Marketing plan to increase sales o More venues to sell tickets some open seating and charge more for reserved seating. o Apply for grants o Obtain sponsors and patrons for events develop list for follow up. o Sub Committee reported on fundraising options and ideas. Determine the 2011/12 season would be broken in two parts: o 2011 Nutcracker and Air Force Band (if dates can be arranged, Air Force Band will be probably be only in Yreka due to conflicts in Ford Theater) o 2012 contingent on grants and fundraising. Super Scientific Circus (sponsors and sale of block seats) Rogue Valley Symphony (grants) County Western (probably won t happen) EC Minutes Page 3

4 Venues will be discussed at next meeting. Financial Needs o an additional $10,000 will be requested to continue operation of the Performing Arts Series. Every effort will be made to make the program self sustaining in the 2012/2013 performance year. o Approval is sought to partner with Music by the Mountain in their grant request to present Adventures in Music. The format would be similar to the free done by COS but would be in both Yreka and Mt. Shasta. COS Foundation Contribution would be use of the Ford Theater, coordination with schools, and marketing support. o Approval is requested to apply for a $5000 Irvine Foundation Grant, probably in the fall 2011 round. Fund would be used either to under write the Rogue Valley Symphony or to provide tickets to students throughout the county to attend the series. Communications Committee no report Short Term Fund Development (STFD) Mr. Roselli was not in attendance to report on the Committee work. The next STFD meeting is scheduled for April 12, at 10 a.m. Business Development COS Extension 1. Mr. Messer reported the Community Extension Program made $3,700 for the fall semester. Fiscal Sponsorships 1. Abused Kids Prevention: Mr. Messer met with Steve Crow and the Eagles Nest Expansion: Eagles Nest Expansion Task Force met and created a list of things that can be done to expand the Eagle s Nest. College General Purpose Endowment: In 1999 the Foundation Board approved a long term investment fund and throughout the next few years deposited various amounts to the account with the last deposit made in Today the account has approximately $200k. The Executive Committee needs to appoint a committee to serve as a long term investment management committee that will set guidelines, goals, criteria and a process to prioritize requests that may be funded with funds from this investment account. In General: Two volunteers have resigned from the Business Development Task Force. One do to conflicts with other commitments, and one from the COS Extension class development (no reason given). Gift Acceptance Below is Mr. Messer s written report on the following gifts pending committee acceptance: EC Minutes Page 4

5 1. Violin due to lack of interest the violin will be returned to donor. 2. Fire Plaza Donations The Fire Plaza implementation plan is complete. The proposal will be taken to the Board of Trustee for approval. 3. Kanis Art Collection (Gift Disposal Sub Committee): The art is still at auction and will remain there for another month. There will be art returned to the College following the auction in Oakland. Steve Crow is working on storage room for the remaining piece of the collection. Investment Due Diligence Mr. Roselli reported the Investment Due Diligence Committee are scheduled to meet in May. Item 5: New and/or Unfinished Business No new business was discussed. Reports / No Action Item 6: Item 7: Item 8: Item 9: Item 10: Item 11: /af Report from Office of the President No report given due to lack of time. Report from Foundation President No report given due to lack of time. Report from the Foundation Executive Director No report given due to lack of time Eagle s Nest Update No report given due to lack of time Upcoming Meetings / Events a) Investment Due Diligence May 17, 2011 b) Business Development April 13, 8 a.m. DLC 4 c) PAS Committee March 15, 2011 Adjournment / Meeting Dates The next Executive Committee meeting will be held on Tuesday, April 12 at 7:30 a.m. in the COS Board Room. Meeting was adjourned at 10:01 a.m. EC Minutes Page 5