Jim shared a cash flow sheet that reveals a monthly status of finances. The Board liked this review but Jim had a slightly different sheet than what was distributed to the Board. This type of cash flow sheet showed a month by month view of finances, revealing positive and negative balances per month.
Discuss WedBush investment funds
Marylee asked for us to make a decision on what to do with the Wedbush Morgan account in the February board meeting. (CD’s? Other revenue streams?)
Talked about changing the financial policy if necessary to accommodate long term investments, like an endowment.
Jim will bring some quotes to the February Board meeting on CD’s from local banks. We will also have input from Krista at WedBush and we will make a final decision during the February meeting. Patrick suggested a small portion of the money be invested in something more aggressive than a CD, perhaps as much as 15% of the total funds.
Vista enterprise project (review ppt on board site)
(MSP: Patrick, Heidi) VISTA person to research a Food Cart idea to help our kids learn actual skills and employment opportunities. Long term explore a brick and mortar store front and backside store.
Jim asked for a feasibility study to be done on the cart, including: Employment of youth, Finances, Operations, Permitting, Menu items, Job descriptions, And any other, including Marketing information.
Annual donor thank you event.
The board likes the idea of this event but want to make sure that it would be viably attended. Calypso Farms does something like this and Sarah F suggested that we contact them to see how they do theirs and perhaps get some ideas. Start out with something simple and a low overhead investment in respect to food, etc. Perhaps music (kids bands or musicians?), and an evening in the green space where donors are invited to come for a short time. Patrick suggested that a large blank picture of a door be hung for donors to write a comment to the kids. In addition, a large picture of a door will be hung that has comments from the kids written on it, thanking the donors.
Have a donor door with wood burned names who’ve donated a $1000 or more to be permanently placed somewhere in the green space
Fundraisers:
Discussed the current fundraisers and ways that we can augment them.
New: Fundraiser showcasing youth talent
The board gave Marylee the go ahead to have the interested parties pursue this idea.
Establish ED Annual Directives
Focus on Donor Growth and existing donor relationships
Exploring and expanding effective marketing avenues
Exploring and expanding Fundraiser opportunities
Review annual timeline schedule that guides our monthly Board meetings.
This item was tabled for another time.
Thank you call to Donors
Names were distributed to board members to call or email over the next few days.
Review prior year Strategic and Operating Plan and develop new one for the new year
Six priorities for 2017
Finalize a sustainable business plan
Next meeting: Heidi will come with pre-printed copies and an outline for how to make it a new business plan. Taking time out of each meeting to tackle one section at a time.
Initiate the transition the housing staff model and see how that all happens. Support Marylee throughout it. Make it successful.
Come to a resolution on proper investment of the Wedbush account funds.
See a social enterprise come into fruition. Support the VISTA in developing a social enterprise.
Growing the board. Diversity: age, race, professionalism
Re-asses our Campus plan in accordance with the status of the Alaska financial situation. What we want to focus on for the next year. What is our back-up plan for the next five years.
Items needing voting from executive session:
Accept minutes from Nov 2016 Meeting
(MSP: Patrick, Heidi) made a motion to accept the meeting minutes for November 2016.
During the meeting I emailed Christie at Calypso and asked what they were now doing for their volunteers. She returned the email with a call the following Monday. She said that they had tried different events and ways to say thank you.
The one thing that they are currently doing that seems to be working is they just invite their donors to regular things that they are doing. So if they have a pizza event they invite donors or give them free tickets, etc. to an event that they are hosting that normally costs.
During the meeting I emailed Christie at Calypso and asked what they were now doing for their volunteers. She returned the email with a call the following Monday. She said that they had tried different events and ways to say thank you.
The one thing that they are currently doing that seems to be working is they just invite their donors to regular things that they are doing. So if they have a pizza event they invite donors or give them free tickets, etc. to an event that they are hosting that normally costs.