Minutes of the BOARD OF TRUSTEES
June 21, 2017
MEETING TIME AND LOCATION
The meeting of the Peninsula Endowment Board of Trustees was held at the offices of Brown Adams, 2570 West El Camino Real, Suite 640, Mountain View CA, on June 21, 2017. The meeting was called to order at 11:00 AM by President Kohler.
Fred Kohler, President; Daniel Margulies, Vice President; Gail Wilson: Treasurer, Anne Dunham, Walter Raineri (guest)
Add website discussion.
Approval of minutes from 10/5/16 and 5/17/17
The minutes from 10/5/16 will be approved by email when additional information is available for the Treasurer’s Report.
The minutes from 5/17/17 were approved unanimously.
The account balance is $3,472,063. All checks have cleared. The cash account currently has a balance of $1,333.37. Accounting services were $422 for the first quarter.
Our guest, Walter Raineri who is an attorney and CPA, agreed to review our new by-laws.
Articles of Incorporation
Our review will be on a tax basis instead of GAAP. This is the first year of filing as a private foundation. A revision was filed with the California Secretary of State on 5/22/2017.
Review of Grants made in May 2017
- $ 10,000 – BAADS – Bay Area Association of Disabled Sailors
- $ 10,000 – Braille Transcription Project of Santa Clara County
- $160,000 – Learning Ally
- $ 40.000 – Lighthouse for the Blind and Visually Impaired
- $ 20.000 – National Braille Press
- $ 10,000 – SailBlind SF Bay (formerly Marin Sailing School)
- $ 25,000 – Santa Clara County Blind Center
- $ 10,000 – Vista Center for the Blind and Visually Impaired
We have received acknowledgement from all grantees.
Planning for FY 2018 Grants: A discussion was held on organizational options. We explored the possibilities of foundation management services, donor advised funds, and perpetuity of the Endowment vs. limited life.
Walter Raineri was asked to join the board and was voted in unanimously.
The meeting was adjourned at approximately 12:10 PM.
Anne Dunham, Secretary