October 18, 2008
Meeting called to order at 11:00am - October 18, 2008
Introductions of Alumni and undergraduate members
A motion was made and seconded to waive the reading of the minutes from the 2008 Founder's Day meeting
Alumni President report – Richard Maltz
• Will be covered in following reports
Alumni Finances – Chris Burke
• The process of Chris Burke taking over the responsibilities of alumni Treasurer from Jim Stuhltrager are almost complete.
• We just started the first steps of a major capital campaign. A wealth study of our membership to best identify those members that might be able to step with lead donations is the first step in this 5 year capital campaign. The wealth study should be done by the end of October 2008.
• Waiting on final paper work from transition of treasurers, but are current savings are close to $15,000 - the below numbers are till June 30.
Balance as of January 1, 2008 $12,363.50
Total Deposits 1/1/08 - 3/31/08 $10,158.51
Total Interest 1/1/08 - 3/31/08 $28.23
Total Debits 1/1/08 - 3/31/08 $8.955.96
Balance as of June 30, 2008 $13,594.28
• Alumni Donations are ahead of last year, even though less brothers have given this year.
• 118 brothers have given to date - last year 150 brothers gave in total.
• We changed the suggested donation amounts, which seem to help increase donation levels.
• Chris has laid out an aggressive 12 month financial plan
Financial Reporting
Complete Financial Statements 1/31/2008
Annual Budgets and Forecasts 2/28/2009
Governance & Compliance
Updated filings with PA State 12/31/2008
Review of Tax Status of Corporation 12/31/2008
Annual Filings and Tax Returns 3/15/2009
Chapter House
L/T Capital Budget 2/28/2009
Develop 2009-10 Operating Budget 5/31/2009
Establish Target Time Frame to Ownership 7/31/2009
Fundraising
Viability Assessment 11/30/2008
Identify Team Leaders 1/31/2009
Begin Capital Campaign 3/31/2009
• Thank Jim Stuhltrager for all his work as treasurer, esp. during those trying days.
Undergraduate President Report – James Patterson
• 4 new members this year – 11 this year
• Very active in community activities – blood drive, Dance Marathon, Village of Penn State, THON, etc
• 26 brothers slated to live in house this coming fall. First time in a long time that some of the rooms will be doubles
• Participating in Homecoming and are in first place, but waiting results from the parade. Results to be announced at Football game.
• Will be doing THON again – but not directly with a sorority – as to guarantee two dance spots - are already half way in fundraising compared to last years amount.
• Will be holding a alumni dinner on November 4 (Thursday) for all local alumni.
• Once again, chapter is looking forward to alumni work weekend.
• Intramural Sports - total involvement in all sports - current in the top 10.
• K.I.C.K.S. soccer tournament will be November 16th.
Undergraduate Treasurer Report – Jasen Marshall
• Building a capital budget.
• New boiler saving chapter on electric costs.
• 26 brothers living in house - 24 should be living in the house this coming spring
• All brothers in good standing.
• Having the University Bursar collecting house funds has been working out great for chapter. Any brother not paying will not be able to receive diploma from university.
Old Business
Chapter liked the use of the rush brochure and plan on continuing its usage
New Business
Elections
A new board of directors were elected. The new board is (in alphabetical order)...
Chris Bartnik
Robert Blumstein
Chris Burke
David Gendelman
Richard Maltz
Jim Stuhltrager
Christopher Zegar
There will be an election at next year's homecoming, but Richard Maltz is planning to introduce a by-law amendment to make the length of term for the board to two years. Also, for the next election there will be bios for all nominees.
For the Good
• Richard and Jean Bartnik - for the couch, scanner and all the support of the chapter at Homecoming
• To all the brothers here today - esp. the recent alumni staying involved
• To the chapter for doing another great job with Homecoming
Motion to close – seconded
Meeting closed with the singing of “It is to Thee”
Meeting ended at 11:28am
Respectfully submitted.
Richard Maltz '90
Alumni President
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