Minutes of the BOARD OF TRUSTEES
May 17, 2017
MEETING TIME AND LOCATION
Meeting held at Brown Adams office, 2570 W. El Camino Real, Mountain View CA. The meeting was called to order at 10:04 AM by President Kohler.
Fred Kohler, President; Daniel Margulies, Gail Wilson, Anne Dunham
Approval of minutes
Need investment account balances added. Approval deferred.
Minutes from March 15 approved.
At May 17, we had $3,523,525.14 in the investment account and $222,756.89 in the cash account.
As of April 30, 2017, our investments have earned 10.08% net over the last year, 5.36% over the past three years.
We moved $70,000 to the cash account. That will cover our current grants, and leave about $7,000 for bookkeeping and accounting.
Gail will initiate getting the review and tax return (as a private foundation) prepared for FYE 2017.
Check we sent to Brown Adams for final payment for FYE 2016 work was returned by the post office. Hand carried it; delivered before the meeting.
Articles of Incorporation
We voted unanimously to approve the restated new articles of incorporation. Change was to add one sentence required by the state. Signed the new articles. Fred will mail, and get the balance we owe Venable.
Grant making for FYE 2017
After discussion, we unanimously voted to give the following grants, a total of $285,000:
- BAADS, Bay Area Association of Disabled Sailors, $10,000
- Braille Transcription Project, $10,000
- Learning Ally, $160,000
- Lighthouse for the Blind, $40,000
- SailBlind SanFrancisco Bay (formerly Marin Sailing School), $10,000
- Santa Clara Valley Blind Center, $25,000
- Vista Center for the Blind, $10,000
- National Braille Press, $20,000
Board Members and Officers
We voted to keep our existing four board members, who will serve as officers as well.
- Fred Kohler – President
- Daniel Margulies – Vice President
- Gail Wilson- Treasurer
- Anne Dunham – Secretary
We need more board members, and encourage each member to recruit new members.
Daniel has two people in mind whom he will invite.
We voted to reimburse board members for reasonable travel expenses to attend meetings.
Our next meeting will be Wednesday, June 21, 11:00 at Brown Adams.
We were reminded about the need for documenting Officers Responsibilities. Documentation would include how to update the web site, what’s required to file tax documents. Daniel will set up a Drop Box and teach us how to use it. Gail will make a list of requirements for filing with the fed and state.
Meeting adjourned 12:25 pm.