Minutes of the BOARD OF TRUSTEES
November 14, 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 November 14, 2017. The meeting was called to order at 11:15 AM by President Kohler.
Fred Kohler, President; Daniel Margulies, Vice President; Gail Wilson: Treasurer, Anne Dunham, Secretary, Walter Raineri
Approval of minutes: The minutes from 9/19/17 were approved unanimously. With the Walt Raineri’s additions.
The second paragraph of the Treasurer’s Report to be replaced with the following:
Walter Raineri confirmed with the Treasurer that the financial activity level of the Peninsula Endowmant Foundation consists of writing roughly 15 checks a year and monitoring the Vanguard investment account. Based on this de minimis level of financial activity, Walter Raineri who is an attorney and CPA, suggests that thousands of dollars in book keeping and accounting firm fees could be saved if we consider just using the very simple QuickBooks program to keep the Peninsula Endowment Foundation books without the need to engage book keepers or accountants. Merely recording 15 to 20 transactions a year in a Quickbooks program would take about 1 minute per entry once the books are set up and detailed reports could be produced at any time to present to the Board of Directors, those preparing tax returns, or others. No action was taken concerning this suggestion at the meeting.
The BARD (Braille and Audio Reading Download) section to be replace with the following:
To illustrate how visually impaired persons gain access to the audio content available on the internet, Walter Raineri demonstrated and mobile app that is a service of the National Library Service for the Blind and Physically Handicapped (NLS), Library of Congress. It provides access to talking books and contains nearly 65,000 talking books, magazines, and braille music scores. New material is added daily. Walter Raineri mentioned that he believes there is a gap in between the visually impaired community and the audio content available on the internet for download, and as a result of this gap, fewer Visually impaired individuals actually gain access to the audio content available. Walter Raineri will follow up on this subject in the next meeting.
Our investment funds can be viewed online.
Our tax return was filed on time on October 16. As a private foundation, we are required to pay taxes and we must file our return electronically. The payment has been made but has not yet been taken out of our Vanguard funds.
We have not yet received information on the review of our statement for year-end May 2017.
Gail Wilson will be resigning from the board as of May 2018.
Our Vanguard contact is Chris Moore, a Certified Financial Planner. His number is 480 713-8577 or 900 567-5163 ext. 27611.
We discussed the disposition of our historical documents. Gail will look into scheduling a Vanguard meeting.
Discussion of future grants
Walter Raineri led a discussion on finding organizations that are interested in developing programs to help visually impaired persons learn the techniques and avenues of accessing audio books. To learn what is currently being done at libraries, Gail will check with the Santa Clara County Library, Anne will check with the San Jose Library, and Walt will check with the San Francisco Library by December 15.
Our next meeting is scheduled for Tuesday, January 23, 2018, at 11 a.m. at Brown Adams.
The meeting was adjourned at approximately 12:10 PM.
Anne Dunham, Secretary