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Board Meeting

February 22, 1998

The meeting was conducted on NetMeeting, and was called to order and proceded according to the published agenda. There were no Whiteboard contents during the meeting except the Agenda. 5 of the 8 active Board members were in attendance, more than a quorum - Clipper, Gerard, Geson, Nancy, and Pat. All votes were unanimous, more than the 50% of the active board required by the Bylaws.
1. Vote on the Gift Offer:
- the offer was accepted by the Board
- the new procedures established during the meeting will apply to this gift
2. Vote to include a Gift Procedure:
- Article 6: Funding, Section 2: Gifts and Section 4: Deposits have been Amended
- Gifts at or under $1,000 without stipulations or restrictions do not need Board acceptance
- Gift over $1,000 or with stipulations or restrictions need Board approval
- a Gift Pool will be established to hold such funds waiting Board disbursal directives
- When the funds in any Gift Pool reach $1,000, they are forwarded to the Treasurer
- The Board may direct such Gift Pools to be forwarded at other times also
- such Gift Pools must make quarterly reporting to the Board
- the Board approved Clipper, tending the corporate PO, to establish a Gift Pool
- a procedure to accept Gifts via credit card will be discussed at a later date
3. Report on Annual Report filing by the President:
- filed mid-February, ahead of the March 1 deadline
- $20 fee paid, within the current budget
4. Report on 1023 Form filed with the IRS by the President:
- IRS Form 1023-8 amended to less than $10,000/year estimate for 1998, 1999
- IRS fee is thus $150 versus $500 for processing
- Board approved this amendement.
5. Vote to include End-of-Term and Periodic Accounting:
- Article 4: Sections 3, 11, and 13 have been Amended
- Any Officer not re-elected will forward their Seal and files to their successor
- The Secretary must secure a list of lockbox contents from the Secretary Proxy at End-of-Term
- The Treasurer must pay all open Vouchers by the end of each quarter