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Board Meeting

May 24, 1998

1. IRS 1023 Application - Report
The IRS returned with a Ruling in our favor, granting nonprofit status to Troubled Times, Inc. This status is conditional, as is usual with new nonprofits.
2. Approve Brand as Treasurer - Vote
A Special Election was held on the nonprofit's mailing list, electing Brand as Treasurer. Currently he functions as interim Treasurer due to an appointment by the President. The Board approval is necessary to make this official.
3. Approve new Bank as Corporate Bank - Vote
Since Diane's resignation, the Pottsville, PA bank can no longer be the corporate bank. Brand will open a new account for Troubled Times, Inc., with the President as co-signer.
4. Approve Administration & Operation Costs Grant Proposal - Vote
During the April Board Meeting, Jan raised the issue of reimbursing gifts made to cover startup expenses and administrative expenses from any grant secured in the future make specifically to cover such costs. A motion was made and passed to do such reimbursement. Jan has provided an outline of his proposal, Proposal 1, and Nancy has proposed an alternate, Proposal 2.