May 17th, 2001 Minutes
Foundation Minutes- Board Meeting
Call to order- 3:19PM
Roll call- Lorna Frahm, Debbie Tomich, Tim DeGhelder, Jim Koetting, Bob Houck, Carl Sandstedt.
Motion by Lorna Frahm to accept minutes from meeting.
Second Tim DeGhelder
Motion Passed
Financial Report given by Bob Houck
Report on net assets according to May 16th
Motion by Lorna Frahm to accept financial report
Second Tim DeGhelder
Motion Passed
Library Director's comments- Carl Sandstedt
Winghaven coming along- still looking for a food service vendor.
Boones trail architecture and building design
Administrative building- working with designer to maximize space.
Old Business-
Tim De Ghelder passed out sample copies for the magazine sponsorship program. Board members can now show a sample of what a sponsored magazine looks like. The process of keeping track of sponsored magazines will be done with our web site. Magazines already having a sponsor will be listed on the web site. ( http://www.youranswerplace.org/other/foundation/ )
Jane Householder Scholarship Fund-
Board looked over guidelines of
Amount
Eligibility
Qualifying endeavors
Covered Expenses
Payment to Recipeint
Tim De Ghelder will work on a generic application form.
Motion made by Lorna Frahm to committ $500 to the Householder scholarship for the first year.
Second by Jim Koetting
Motion Passed
Motion by Jim Koetting for the board to accept the following resolution:
"Resolved, that the President, or any Vice President, together with the Treasurer, the Secretary, and Registered Agent, Robert Houck of the corporation may, without further order of this Board of any committee thereof assign, transfer, endorse and set over, or satisfy and release, mortgages, deeds of transfer, bonds, notes, certificates of stock and any other assets and securities held or owned by this corporation on its own account or in any fiduciary capacity."
Resolved, that the Officers and Directors of the St. Charles City-County Library Foundation have, by Board Motion, designated Firstar as the Foundation's Banking and Investment Services provider, and further authorize Registered Agent Robert Houck, to act on their behalf to effect the transfer of Foundation Account with Firstar
Second by Tim De Ghelder
Motion Passed
Board Nominating Committee to be headed by Jim Koetting and Lorna Frahm.
They will work on a list for potential board members. The foundation would like to increase board membership by adding two more members.
Disposition of assets-
Library Foundation will allocate 5% of current assets, which complies with IRS standards for 501c3 foundations.
Motion made by Lorna Frahm to release $10,944.24 to be used for support of new Boone's Trail branch.
Second by Jim Koetting
Motion passed
Motion by Loran Frahm to approve $250 in expenses to allow a Vision St. Charles Scholarship Fund.
Second by Jim Koetting
Motion Passed
Next Meeting set for July 19th at 3:00pm. (Spencer Road Branch)
Motion made by Loran Frahm to adjourn at 4:09pm
Second by Jim Koetting
Meeting adjourned
