minutes of mtg June 25, 2010

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Athens Rotary Foundation

Meeting of June 25, 2010

The Board of Directors of the Athens Rotary Foundation met at 1:30 p.m., June 25, 2010, in the conference room at Mollica, Gall, Sloan, and Sillery.

The meeting was called to order by President Jerry Mollica. Those members in attendance were Jerry Mollica; Bill Diles; Dick Mottl; Channing McAllister; Sheila Mark; Ismail Ghazalah; Jody Harris; and Karen Harvey. Also in attendance were Bob Troxel, who, as president-elect of the Club, will officially join the Board on July 1, 2010, and Diane McVey.

On a motion by Channing McAllister, seconded by Bill Diles, the minutes of May 24th were approved with the correction of a typographical error in the last sentence. On a motion by Channing, seconded by Dick Mottl, the minutes of February 23, 2010, were approved.

In the absence of Board member Don Cooley, Jerry Mollica reported there is currently $4,430.00 in the checking account. This number will increase to $9,430.00 as soon as this year's check for $5,000.00 is received from the Club. Channing McAllister gave a brief financial report and submitted an eleven-page written report. Little has changed since the Board's last meeting. The total value of the portfolio is presently $141,631.76, 41% of which is invested in stocks, the remainder in diversified holdings and certificates of deposit. The portfolio has increased by 2%, or $2,600.00 since the last report. Channing recommended the purchase of another certificate of deposit. This recommendation was approved on a motion by Dick Mottl, seconded by Karen Harvey. As a final note, Channing reported there is presently $17,962.00 in unencumbered cash that is available for grants.

The first order of new business was the selection of three Board members to replace three members whose terms expire on June 30, 2010. As Jerry Mollica and Sheila Mark were willing to continue for three-year terms, they were elected on motions by Channing McAllister, seconded by Dick Mottl and Karen Harvey, seconded by Channing. Dick Mottl informed the Board he was unable to continue for another three-year term. Dick has diligently served for six years and his resignation was regretfully accepted. Following a discussion as to an appropriate replacement, Karen Harvey moved that Club treasurer Dave Diggle be chosen. This motion was approved and Dave will be so notified.

As a second item of new business, the Club discussed three funding proposals that had been received since the last meeting. The Athens Foundation has requested the funding of a $450.00 scholarship to allow an individual to attend "Leadership Athens County." On a motion by Dick Mottl, as amended by Karen Harvey, the Board approved a $450.00 scholarship grant on the condition that the recipient be a member of the Athens Rotary Club. The Club requested the Foundation consider funding two $300.00 scholarships that would allow two Athens County high school students to attend the multi-day Rotary Youth Leadership conference to be held at Ohio University in July 2011. On a motion by Karen Harvey, seconded by Jody Harris, this request was approved.

The Club has chosen a 2010-2011 project to add accessible playground equipment to the Southside Park on Richland Avenue. In-coming Club President Jody Harris explained the project but, as yet, does not have firm cost figures. Her plan is to submit as least three grants to secure funding in addition to what may be provided by the Foundation and the Club. The first such grant, an application to Rotary District 6690 for a District Simplified Grant in the amount of $2,000.00 and requiring a $2,000.00 local match, is due shortly. There was discussion regarding the procedure for cooperating with Athens City on this project. While Jody is working with the City Recreation Department, and has a letter of support from it, Bob Troxel suggested she needed to contact Paula Moseley, Athens Service-Safety Director, and secure her written approval. Jody will proceed to do so. In the meantime, on a motion by Bill Diles, seconded by Karen Harvey, the Foundation Board approved the immediate request for $2,000.00. This will allow Jody to submit the first grant application. Jody will contact Gametime, Inc., a specialty play equipment provider, to obtain firmer cost figures prior to the submission time for another grant.

Diane McVey was present at the meeting to submit two proposals for significant donations by long-time Club members Ram and Sushi Gawande. The first proposal would create the Ram & Sushila Gawande Rotary Scholarship Fund, the annual income from which would be used to award scholarships to graduating seniors from any Athens County high school who wish to attend an Ohio institution of higher learning. The second proposal would create the Ram and Sushila Gawande Rotary Matching Grants Fund, monies from which could be used to match international projects monies that might be received from Rotary International. There was considerable Board discussion regarding these two proposals. Of immediate concern is the Foundation's 501(C)(3) status and the potential expenditure of funds for international projects. President Jerry Mollica has requested that Board treasurer Don Cooley research this issue and report back to the Board. The Board is extremely grateful for the generosity of the Gawande's and hopes the details can be addressed in a timely manner. In the meantime, on a motion by Bill Diles, seconded by Jody Harris, the Board approved the conditional acceptance of the $100,000.00 donation, half of which would go to each of the proposed funds. Jerry Mollica volunteered to work with the Gawande's in the preparation of two memorandums of understanding that would address the details of each proposal. There was a dissenting vote from Dick Mottl, who is concerned about the conditions expressed in the proposals.

The meeting adjourned at 3:00 p.m.

Respectfully submitted,

Karen Harvey, Secretary