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
- 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.