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Board Meeting

June 10, 2010

NANCY June 10, 2010 9:47 AM I wish to call a Board meeting, via email, due to needing space in my GARAGE and BASEMENT, which is used to house a number of nonprofit assets at the current time. I need the GARAGE space to park a car, as during the winter we are required to flip our cars from one side of the street to the other for plowing, and this has become burdensome with age. The assets being stores in the GARAGE are:
Tiller purchased in 1999 for $589, depreciated at 10% per year to being an asset on the books at $166.38 in 2010. It was last used two years ago on the small garden in my side lot, where I grow for seed, but I have reduced that space since then and just spade or hoe up the free space, no longer tilling. This tiller is in good shape but has been used and is USED, thus would not bring a good price. I did drain the gas tank so gunky old gas should not be a problem. It ran well.
Chipper/Shredder purchased in 1999 for $374.99, depreciated at 10% per year to being an asset on the books at $117.71 in 2010. I has not been used since the 1999-2001 era when Ron Darby was working projects such as the worm beds here, and was balky to use, getting clogged a lot. Since it has been inactive and I don't recall how it was stored, it may not even start or run.
Smaller items purchased for projects, which initially Ron Darby put on the books, we were told by an accountant should be considered 'supplies' for a project and not 'assets'. This includes, in the garage, a used cooler for seed storage purchased for $145 in 2001, not used for almost a decade so likely it no longer works, and depreciated down to almost nothing. I plan to try to move this for metal scrap, if I can get someone interested in taking it, for free. Likewise for some heavy metal fencing which was partially used to hold up hundreds of tomato plants when we were growing seed in bulk here.
There is also an antique clothes washing machine which we were originally going to use for demo, purchased in 2001. We paid $245 for this, but by being stored in the garage for a decade it has fallen into pieces now so is not intact. However, I think a museum might take this, and restore it, if given the item for free.
I would like permission from the board to dispose of these GARAGE items, the tiller and chipper and antique clothes washer. I will see if the chipper starts at all, else junk it or give it away. I will try to see if I can sell the tiller, or perhaps work out an exchange for labor to move the cooler (which completely blocks the garage door) and fencing roll. I have personal items like plywood and bags of cement which I can likewise thown into such a bargain, as these also must be moved.
The value of items considered assets at the end of 2000, when Ron Darby was Treasurer, are shown here:
But since this time the accounting firm we hired during this period told us to expense out all but the largest items, as they are considered 'supplies' for a project, not an asset. The Troy Built tiller was taken to Kansas by Roger and used there for seed beds, but broke and was irreparable.The board gave him permission to dispose of it some years back. Of the two servers, one went with Roger to Kansas and another is still here in a closet. This is not a space issue at the present time.
In the BASEMENT I have two large fish tanks, galvanized cow water tanks, which proved to be the wrong thing to use as they leach zinc, thus killed our fish. But during the time the aquaponics systems worked, before the fish started dying, we were able to do a 3 way comparison for hydroponics solution to worm bed solution and nutrients from the fish. This is documented on our nonprofit website. Each of these tanks cost about $100, as I recall. I plan to try to get a metal dealer to take these.
In addition in the BASEMENT are hydroponic equipment and aquaponic equipment, all used, and lots of PVC piping with special values for shutting off the water flow to prevent a backwash during setup or cleaning. There is a fiberglass filtering box that is 4X4 and very bulky. Also a couple dehumidifiers which I on occasion use to keep the basement dry and the equipment from rusting. On the books at the end of 2000 the acquaponic system was lumped into a combined asset price, as was the various components of the hydroponic system(s). All of this is used and has been idle for almost a decade.
At the present time, I am only requesting board approval to move the fish tanks, which in any case are by accounting principles considered a supply item, not an asset. I am requesting board discussion on whether to approach the university system here in Wisconsin to see if they would like this equipment, as an outright gift. This is unlikely to bring a price here in rural Wisconsin, if I try to sell it.

NANCY June 10, 2010 8:10:48 AM I just talked to an associate dean at Baraboo University extension here (Boo U) and they would take the aquaponic and hydroponic stuff from the basement. Send a biologist out with a pickup truck and take it all. Forms would need to be filled out (I would scan and include for the board meeting, or a followup to this meeting) but this is all it would take on my end.

STEVE June 10, 2010 10:40 AM Wow, sounds like you have a lot of stuff cluttering up your space! I have no problem with you clearing out these items in the manner you have indicated as they do not appear to be relevant for any future projects and are of very little value.

ROGER June 10, 2010 4:21 PM So, to formalize this into a meeting...
I hereby call to order a meeting of the Board of Directors of Troubled Times, Inc.
Our first item is a request from Nancy for authorization to dispense with old assets and supplies that are no longer in use and of very little value. Nancy's emailed request for the meeting and report of the items is in-line below. Also below is Steve's support of her request.
I invite further discussion prior to a vote to approve the disposal of the assets and supplies as detailed below. (Nancy's and Steve's emails could be taken as motion and second, though not formally stated as such.)
Our second item will be any further discussion or reports as called in the course of a regular meeting.

GERARD June 10, 2010 5:58 PM So for what i get from what Nancy, the hydro and auqaphonic equiptment are taken care off. So that leaves the selling of the other items. I am corect.
And what to do with the money once the goods are sold. Since new zetatalk states that 7 will be reached by the end of this year i think that we should use the momey that we have now to give people
information and how to act and what to do. Of course we still have the survival package, but i do think that by that time more will be needed. What kind of other outlets can be used. And in my opinion
the Inc could play a role in this too. I would think.

STEVE June 10, 2010 9:25 PM I think from how Nancy describes the items, she may be lucky to get any monies for them as they are old and in questionable operating condition. I think they will essentially be a write-off or the money gained to be so little as to really do anything with.

GERARD June 11, 2010 2:42 AM You are absolutely right steve Yet i do think that we have to the take the 7 on stage 10 scale this year into consideration, as i would think people would ask for more then just a CD and booklet at that point in time.
So my question remains, what can we do as the inc. at that point in time?

ROGER June 11, 2010 9:54 AM I agree. The shredder and the tiller are the only items that may bring anything but it won't be much. It probably wouldn't be enough to cover a year's worth of administrative expenses. Nonetheless, if in working condition, an attempt to sell them could be made (documented) and those reduce any accountability issues.

ROGER June 12, 2010 12:16 PM Officially, we don't yet have a motion of the Board's wish on this, though it seems we are coming to one...
I wouldn't list the prices any higher than the depreciated value we have on record. Perhaps go a bit lower in order to generate a quick sale. $80 for the chipper would be fine, though we don't know if it is working. The tiller is valued at $166.38 so perhaps list it for $150.
Is there a fee for listing with the ShopperStopper or with Craig's List?

ROGER June 15, 2010 11:51 AM So, where are we at on this? Are we ready for a motion and a vote?
In the meantime, I have been looking into options available locally for CD duplication. I do not believe our funds are big enough to do a large run as before. What we may be looking at is running several short sets at a time unless we receive a donation.

STEVE June 15, 2010 2:06 PM I second as a motion Nancy's proposal for donating the hydroponics equipment to the university and selling, if possible, of the chipper and the tiller; although granted it appears likely they will not fetch any price as there may not be any interested buyers.

ROGER June 15, 2010 2:56 PM Is this were we are? If no further discussion, then all in favor type "yes", opposed type "no".

NANCY June 15, 2010 3:14:44 PM YES, but does this mean that if I get no interested Craig's List buyers for the tiller and chipper after a month or so, that I can see what I can get for it locally, at a potentially reduced price? Or give it away to those I know work on motors and can at least make good use of it? It is also possible that I can store it in the garage if we empty it and find we can snug it into the corner, but I think not, just eyeballing it all. Too big.

ROGER June 15, 2010 3:20 PM The motion does include selling locally if other advertising lists do not pan out. I believe a short new vote call will clear up any question about giving it away should no buyer come forward.

NANCY June 15, 2010 4:05 PM I would like to add to the Minutes that I just received the bill for the annual renewal of a Wisconsin "Charitable Organization Renewal" which had always been $15 but has now been bumped to $54. Quite a jump but Wisconsin is one of those states cutting every corner they can. And obviously raising every fee they can too. Their costs, passed on.

ROGER June 15, 2010 4:28 PM Duly noted. I wondered if that might happen. $15 was such a small fee for so long...

GERARD June 15, 2010 4:28 PM Yes.

ROGER June 15, 2010 3:20 PM The motion does include selling locally if other advertising lists do not pan out. I believe a short new vote call will clear up any question about giving it away should no buyer come forward.

NANCY June 15, 2010 3:20 PM A buyer locally HAS come forward! The man who mows my great yard (double yard along with my brothers yard and along the marsh) for $45 twice a month until the grass stops growing in July/August is very mechanical. I showed him the cow watering tanks and the like for metal salvage (he does that too) and he wanted to see the tiller and chipper. I told him the board wants me to list on Crig's list for $150 and $80 and he said he'd work barter on lawn care for $150 and $50. I took it. If you want, I will compensate the board the $30 for the chipper but there was no certainty I could get it started after a decade of being idle. Plus, this is a bird in the hand!
I MOVE the board allow me to accept this offer, wherein there will be $200 into the nonprofit checking account on July 1, 2010 from myself, guaranteed.

ROGER June 16, 2010 12:45 PM I believe this will be well within the intent of the original motion and second. We are technically missing votes from Steve and Gerard (I also have not officially recorded my vote). Let's see if they reply with their agreement and we can finalize this agenda item.

STEVE June 16, 2010 4:03 PM Great job Nancy! My vote is 'yes".

GERARD June 16, 2010 5:08 PM I agree

MARY June 17, 2010 12:06 AM I vote Yes.

ROGER June 17, 2010 11:03 AM Okay, with Steve's previous email and now Gerard's, I have unanimous approval for Nancy to dispense with the surplus supplies and equipment as detailed in her proposal. This closes this item save for a final report from Nancy at a subsequent meeting.
Regarding the CD duplication, any comments or suggestions at this early point? I am not making a proposal or asking for a motion, just some ideas on the table for when we need to move forward...
Any additional issues needing discussed before we close this meeting?

NANCY June 17, 2010 2:49 PM I have no additional items and thing we can deal with additional CD burning when the time comes. I MOVE we adjourn this meeting as having addressed the burning issues of the day.

STEVE June 18, 2010 2:22 AM I am in agreement with adjourning the meeting at this time.

GERARD June 18, 2010 2:47 AM I second

ROGER June 18, 2010 1:45 PM Mary, Any objections to adjourning the meeting?