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Board Meeting

January 9, 2000

1. Acceptance of Generous Gift - Vote or NOT
The corporation has received a generous gift from a donor who wishes to remain anonymous. The gift is in stock, worth an estimated $15,000 when cashed out. To receive this gift, the President and Treasurer opened a nonprofit account at a brokerage firm in December, at no charge to the corporation and with no obligation or fee. This donor has requested that the funds be assigned hydroponics, aquaponics, radio communications, and light duty farm equipment. The first three items are approved projects, budgeted and ready to receive funding. The last item needs clarification with the donor. The President recommends accepting the gift as designated, with any funds remaining being put into a hold status pending this clarification.
2. $1,500 Loss Recovered - Report by President
The President is pleased to announce that the $1,500 in loss registered in 1998 has been recovered. This loss occurred when the corporation's first Treasurer, Diane, failed to deposit startup gift of $1,000 and $500 into a corporate account but instead deposited them into her personal account, then issued a check repaying the corporation, which check bounced, and then moved with no forwarding address. The President worked with the Pottsville Police Department, submitting a deposition on video, and an arrest warrant was issued. Diana has been arrested and ordered by the court to pay restitution. In Pennsylvania, paying restitution wipes the record clean, so in effect no crime has occurred.
3. Funding of Projects - Vote or NOT
In anticipation of $16,500 in new funds to be disbursed, the President is recommending the following disbursement. This is in accordance with donor wishes and our Bylaws.
The Hydroponics was included in the new 3 Year Budget was presented by the President in November and reviewed by the Board. Hydroponics was estimated to require $1,200 and a Fish Tank demo another $2,400. The President is recommending that an additional small $300 hydroponic system be purchased to allow for experimentation on liquid nutrient solution gathered from the from the worm beds. Infrastructure expenses in updating the plumbing an electrical systems will be covered by the President, who has taken out a no-interest, long-term loan for this purpose.
TOTAL Funding - $4,000
The Short Wave Internet project, in support of Classes, was requesting an estimated $6,000 in funding for an intercontinental antenna. An installed antenna will in fact cost an estimated $7,250 when $500 for the concrete footing, $200 for a backhoe, $150 for a building permit, $100 in PVC pipe, and $300 for cable are included. The Short Wave project budget will be updated to include a request for a $3,500 Amp Booster which will facilitate operations after the antenna is installed. It is anticipated that the antenna will will take some months to install.
TOTAL Funding - $7,250
To be held for clarification. Funds might be used for farming methods prototypes. Estimated amount remaining after cashing out stock gift.
TOTAL Funding - $3,750
Annual Audit by CPA, approved by the Board last November, when a gift exceeding $5,000 was received. This has occurred, and the President is recommending that up to $1,000, or approximately 5 hours review time by a CPA, be approved by the Board. The President is recommending Weickgenant Accounting, Inc. which is local to the area, as the auditors.
TOTAL Funding - $1,000
In that the Admin & Ops budget has not been funded, these expenses need to be approved by the Board ad hoc. Expenses that have been or are about to be incurred, and need to be approved for reimbursement are $125 for The Company Corporation, year 2,000 Delaware Representative; $20 for 1999 Annual Report submission to State of Delaware; $150 Conditional Use application to the Village; $50 for Treasurer's replacement printer cartridge; $150 for a Quickbooks upgrade that will support web page development.
TOTAL Funding - $495
4. Gift Pool Closure - Report by Vice President
In accordance with the Board ruling last November, the Gift Pool account has been closed. An additional $150 in three $50 gifts had been received. After the final bank statement is received, the books can be closed for 1999. The donor list has also been updated to include additional gifts received from John Kelso, in support of the Seed TEAM operation. The Seed TEAM hubs should anticipate this additional funding, which might be used to plant additional acreage in seed, as the Seed TEAM finds more seed outbound than inbound, or to purchase additional seed. Many thanks to Clipper for maintaining the Gift Pool during the interim until the headquarters could be established.
5. Video Proposal Separation - Vote or NOT
During the November Board Meeting, the Board approved separating the various video projects so that Michel's video of Pole Shift history, and Ron's video of Backpack Survival, and Nancy's video of Solution Sets are separate projects. At the time, Michel's proposal was existant as an approved project, and Ron and Nancy agreed to provide a draft for the Board to approve at the next Board Meeting. Approval will place these new proposals in the list of projects awaiting funding.
6. February Agenda - Report by President
The 1999 Annual Report will be drafted for the Board's approval at the February meeting. Gift Pool closure will be included in the 1999 books, with the first annual audit hopefully completed, so the Balance Sheet included in the Annual Report will be complete and professional. The 1999 Donor Log will be finalized. Additional significant funding is also anticipated, and may be at hand by the February meeting.