HomeMy WebLinkAbout11-14-2012Approved 12/19/12
White River Valley Historical Society
Board Meeting MINUTES
Noember 14, 2012, 1:30 to 3 p.m.
Board Members in Attendance: Richard Artura, Jamie Bothell, Pat Cavanaugh, Megan Evans, Bill
Greene, Julie Herren, loan Mason, Mike Miller, Kim Perry
Board Members Excused: Gerry Honeysett, Doug Lein, Ken Nelson, Mark Thomason, Mike Weibel
Staff Members in Attendance: Rachael Burrum, Patricia Cosgrove, Erin Hash, Hilary Pittenger
Call To Order, Introductions, Approval of Minutes
A. President Evans introduced new board member Bill Greene. He is filling a vacancy
on the City of Auburn side, made by Kelly Gordon's resignation. Bill is the manager of Reber Ranch,
a farm, pet and garden supply store with which we do business. Bill brings many business
connections and knowledge of this market with him to his service on the board.
II. Board President Report
A. President Evans reviewed the museum calendar of events and noted that the
museum will be closed to the public for the holidays from December 17 to January 2, 2013.
B. Candy Cutler and Louis Walker from Northwestern Financial made a presentation
on how we might go about raising and managing endowment funds. They recommended we
consider setting a goal of raising commitments for $2.5 million over five years. These
commitments could be in the form of life insurance policies, trusts, bequests, outright gifts, and
other investment vehicles. Board member Artura brought up questions about Rennaissance the
firm that Candy and Louis suggested we consider using to manage the endowment funds. Good
questions regarding their management strategy, which were tabled to be discussed in more detail
by the Finance Committee. In general board members liked the approach that has been suggested
and look forward to more details being brought forth as the Finance Committee works through
the details.
C. After a series of meetings, the Executive Committee brought forth the final draft of
the Long Range Plan for 2012 through 2017 for final vote. The plan has been reviewed once prior
by the board. Julie Herren made a motion to accept the Long Range Plan for 2012 through 2017 as
proposed by the Executive Committee, seconded by Pat Cavanaugh. MOTION PASSED
III. Committees
A. Treasurer Jamie Bothell presented the monthly financial report. With attendance
relatively low, gift shop revenue and admissions are lower than budgeted, but are more than
made up for by tour revenue, grants, Halloween Ball and other sources of revenue. With over 16K
as a montly surplus, we are posed to end the year with a small surplus.
Treasurer Bothell reviewed the proposed 2013 budget, noting it was crafted directly from
our current YTD numbers, with a conservative view towards income. Richard Artura made a
motion to accept the 2013 Museum operating budget as proposed by the Finance Committee,
seconded by Kim Perry. MOTION PASSED
B. Kim Perry, leader of the Halloween Costume Ball Committee received a rousing
applause from the full board, thanking her for dutiful and innovative leadership, ending in $17,000
in revenue, thus making budget. Halloween Ball 2012 got the fun back, which was seen as very
important. Way to go KIM and Committee Members!
IV. Staff Report
A. Patricia Cosgrove took board members on a short tour of the 51" annual Small
Works Big Presents, the Gift of Art exhibit. This year the number of art entries was down, but the
level of quality was up. The jury selected 67 pieces to display. We hope to see some a good rate of
sale during the upcoming holiday season.
V. President Evans asked Board Members to comment on the meeting, going around the
table. After a convivial round she adjourned the meeting at 3:15 pm.
Next Board Meeting: December 19, 2012, 1:30 to 3 pm
Muckleshoot Room, White River Valley Museum