REVIEW AND APPROVAL OF BOARD MEETING MINUTES:

Transcription

1 Florida State College Foundation Foundation Board of Directors Minutes of the December 10, 2014, Quarterly Board Meeting Student Activities Center/North Campus, 11:45 a.m. PRESENT: Mr. Robert Cook, Committee Chair Dr. Wade Barnes, Jr. Ms. Martha Barrett Mr. Mike Bell Dr. Cynthia Bioteau Mr. Carl Cannon Mr. Husein Cumber Mr. Jeff Edwards Mr. Thomas McGehee, Jr., FSCJ District Board of Trustees Liaison Ms. Kierstan Snyder, FSCJ Student Government Association Liaison Ms. Tim Tresca Mr. Scott Verlander Mr. Stephen Wise Mr. Wayne Young Mr. Donald Zell ABSENT: Ms. Karen Bowling Mr. Thomas Majdanics, FSCJ District Board of Trustees Liaison Ms. Velma Monteiro-Tribble Ms. Robyn Moore Mr. Ed Nimnicht II Mr. James Winston STAFF PRESENT: Dr. Judith Bilsky Dr. Barbara Darby Mr. Al Little Ms. Lisa Maldonado Dr. Ian Neuhard Ms. Patrece Nicolini Dr. Sandy Robinson Dr. Milt Russos Ms. Carla Sodek Ms. Tania Yount STELLAR FOUNDATION CHECK PRESENTATION: On behalf of Stellar Foundation, Ms. Ali Korman Shelton graciously presented a check to the Florida State College at Jacksonville Criminal Justice Center Cadet Program.

2 Page 2 REVIEW AND APPROVAL OF BOARD MEETING MINUTES: MOTION: (Barnes Barrett) The motion was made to approve the minutes of the September 17 th, 2015 Quarterly Board of Directors Meeting, as recommended. Motion carried unanimously. BOARD CHAIR REPORT: Nominating Committee Chairman, Mr. Carl Cannon, presented the Foundation Board of Directors with a review of the Nominating Committee Meeting, which met on October 28 th, In addition, Chairman Cannon encouraged the Foundation Board to bring forth any potential candidates. Lastly, Chairman Cannon also emphasized the promotion of Florida State College at Jacksonville in terms of significance; as well as illustrated the importance of raising money for the Foundation. Board Chair Mr. Bob Cook presented the Foundation Board of Directors with an Acknowledgement of Foundation Gifts document located within each Foundation Board Member Notebook. In addition, Chair Cook noted to the Board that Mr. Joseph April, who was not in attendance, was now functioning as Interim Executive Director to the Florida State College Foundation. MOTION: (Bell -- Cumber) The motion was made to approve the continuation of service for Dr. Wade Barnes, Jr. and Mr. Wayne Young for another term. Motion carried unanimously. COLLEGE PRESIDENT S REPORT: FSCJ President Dr. Cynthia Bioteau presented the Foundation Board of Directors with specifics of the FSCJ 50 th Anniversary Kickoff, including the succession of unique celebrations, which will center around the 50 th Anniversary Kickoff and occur throughout the 2015 calendar year. Dr. Bioteau briefed the Foundation Board on the importance of donor relations, increasing monetary scholarship levels, and Board Member recruitment. Attention was given to the newly revised Foundation Board Member Job Description. Emphasis was placed on the understanding and implementation of revisions made. An orientation has been developed by Mr. April for all newly-elected Foundation Board Members.

3 Page 3 FINANCIALS: Revenue Source FY2015 FY2014 Variance Narrative Budgeted Available Operations $300,000 $410, % Approved Operating Budget for FY2015. Decrease due to one-time payment for Artist Series Ticketing Software in FY2014. Budgeted Available 5% Spending Current Endowed Current Restricted Current Unrestricted Events $1,827,801 $1,704, % $41,062 $773, % $91,377 $177, % $0 $0 0.00% $31,275 $18, % 5% spending available for FY2015 from endowed/quasi endowed funds. Decrease due to large estate gift received in FY2014 as well as Foundation not actively engaged in fundraising. Decrease due to departure of Music School and TSIC from the College as well as the Foundation not actively engaged in fundraising. Currently not raising unrestricted donations. Increase due to timing of Cookbook event revenues. Alumni Relations $0 $0 0.00% Currently not holding alumni events Source FY2015 FY2014 Variance Narrative In-Kind from FSCJ $0 $0 0.00% Totals $2,291,515 $3,083, % Total of In-kind Support from Florida State College at Jacksonville provided at end of fiscal year. Event Revenue Expenses Net My Favorite Cookbook 2014 $34,525 $20,726 $13,799 My Favorite Cookbook 2013 $25,626 $15,881 $9,742 Expenses Scholarships $78,864 $43, % Scholarships awarded to students.

4 Page 4 Programs $276,380 $10, % Increase due to payouts to Music School and TSIC. Facilities $0 $0 0.00% No current facility projects. Faculty Chairs $0 $0 0.00% Awarded annually. Expenses Operations $93,345 $65, % Travel, Supplies, Professional Development Daily operations including special event costs. Increase due to Foundation paying for audit, consulting services for MFCB, and database charges. $0 $0 0.00% Annually at end of fiscal year Salaries and Benefits $0 $0 0.00% Annually at end of fiscal year Totals $448,589 $119, % Florida State College Foundation Financial Report July 1, September 30, 2014 Cash Contributions $133,765 $945, % Other Revenue $29,950 $5, % Monies raised for scholarships and programs. Decrease due to large estate gift received in FY2014 as well as Foundation not actively engaged in fundraising. Monies raised for programs and projects, includes grants. Increase is due to a grant received in FY2015.

5 Page 5 Investment Income ($181,555) $1,538, % 5% Spending $1,827,801 $1,704, % Earned from Investments. Decrease due to drop in stock market. Increase due to increase in endowed funds. Totals $1,809,961 $4,194, % Net Assets FY2015 FY2014 Variance $47,376,502 $44,455, % POLICY AND PROCEDURE UPDATES: Mr. Jeff Edwards provided a brief overview of the Donor Recognition Policy in regards to the acceptance and approval of donations. FSCJ Foundation Director of Operations, Ms. Lisa Maldonado, recognized and confirmed the specific changes within the Donor Recognition Policy related to verbiage and minimal realignment of the policy relating to naming of facilities only. NEXT MEETING: Board Chair Mr. Bob Cook announced the next Quarterly Board Meeting is scheduled for March 11, 2015, at the College s Administrative Offices, Room 405. ADJOURNMENT: There being no further business, Chair Cook declared the Quarterly Board Meeting adjourned at 1:00 p.m. CALL TO ORDER DIRECTORS POST MEETING WORKSHOP: Board Chair Mr. Bob Cook called to order the Directors Post Meeting Workshop. NORTH CAMPUS ALLIED NURSING TOUR: North Campus President, Dr. Barbara Darby, in conjunction with newly appointed North Campus President, Dr. Sandy Robinson, provided those in attendance with a tour of the North Campus Allied Nursing Facility. APPROVAL OF MINUTES: Chair Bob Cook, Foundation Board of Directors