Monthly Archives: February 2014

2014 Minutes, February 19

PENINSULA ENDOWMENT

BOARD OF TRUSTEES

February 19, 2014

The meeting of the Peninsula Endowment Board of Trustees was held at the offices of Brown Adams, 2600 El Camino Real, Palo Alto on February 19, 2014.

The meeting was called to order by President Dunham at 10:15 am.

Present: Mmes. Bitting, Dunham, Tedrow, Wilson; Messrs. Fowler, Kohler, Margulies and Waud.

Election of Officers: The officers for the next year were nominated and elected—Fred Kohler, President, Ben Waud, Vice-President, Gail Wilson, Treasurer and Greg Fowler, Secretary.
Trustees elected were JoAnn Bitting, Anne Dunham, Daniel Margulies and Virginia Tedrow.

Minutes: Minutes from the January 14 meeting were approved.

Treasurer’s Report: Fourth quarter reports from Vanguard were not yet available as of the time of the meeting. The Peninsula Endowment account currently stands at 61.5% in equities. The final payment on the five year pledge to Learning Ally, $132,000.00, will be made.
It was reported that work has continued with the bookkeeper and materials are ready to go to Brown Adams for preparation of the tax return.

Fiscal Year Change: It was agreed that changing the fiscal year end to align with a calendar quarter would be nice. Making the change will mean some additional costs; Gail is investigating the details and actions required.

Mission and Future Funding of Organizations: It was noted that there will be a presentation at the Learning Ally studio on 2/27. There was some discussion of the operations at the local studio.

The Board reached a consensus that our mission should be to fund organizations supporting people with visual impairments: local organizations and organizations providing educational materials.

President Dunham urged members to research at least one organization for
consideration and bring details to our next meeting.

As a part of this discussion a question was raised on our payout required
each fiscal year. This issue will be investigated and results presented at our
next meeting, before the end of the current fiscal year.

<strong>Bylaws and Articles of Incorporation</strong>. It was noted that a number of
updates are needed for both our Articles of Incorporation and Bylaws. Board
members were encouraged to read the documents in preparation for future
discussion.

The meeting was adjourned at 12:00 pm.

Respectfully submitted by:
Greg Fowler, Recording Secretary

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