Rapid City Library Foundation

Minutes

May 25, 2006

Present: Mike Wilson, President, Pat Lawlor, Vice President, Dee Pickarts, Treasurer, Mike Pelly

Greta Chapman, Ex Officio, Ruth Sisk, Executive Director

Absent: Eric Abrahamson, Secretary, Kathy Conlon, Judy Duhamel

Meeting was called to order by President Mike Wilson. The agenda was amended to include an Executive Session of Voting Members only at the end of the meeting. Minutes were reviewed and correction that Lawlor was not present was noted. It was the consensus of the Board to adopt the amended agenda and minutes.

Library Director’s Report

Chapman distributed a Library Request for Funds for $2825. Funds are for Sue Grafton event which is in connection with the One Book, One Community 2006 program. Funds will be used for honorarium, room and meals for the author, and extra Grafton books for the library. The date is September 20, 2006. Discussion included why the Foundation did not have an opportunity for an event with Grafton while she was here. Chapman said the author or her agent, refused to do any event outside of the library function. Lawlor made a motion for approval of the entire amount of the request. Pickarts seconded. Motion carried.

Currently there is only a preliminary draft available from the Space Use Consultant. Once the library has received a final report more information will be available.

Chapman gave a heads up on a project in motion. The library will be working directly with General Beadle School in 2008

Chairperson’s Report

Wilson commented in his opinion there are three essential goals for the year. First is recruiting members. Second is making the capital campaign successful. Third is Planned Giving donations are essential for progress of the organization. To be efficient as a Board there is a need to keep balance in all of the operations. The Board should come up with broad ideas and Sisk will attend to details. He then opened discussion for other areas that members consider needed goals.

Pickarts said clearly the Board needs to do more fundraising to cover the existing budget of operating funds. Lawlor would like to see family activities to raise awareness of the Foundation to families in the area. Chapman mentioned the Library has annual planning for programming. They hope to map a whole year for Library, Friends, and Foundation. The Board as a whole agreed when fundraising is done, there is a need to be very clear about what funds go where. Each fund should not borrow from other funds to accomplish their needs. Operating, Campaign, and Endowment are the present individual funds.

The Linking Agreement mentioned on the agenda was not available for this meeting. Wilson will meet with Monte Loos of the Library Board of Trustees and bring the item to the next meeting.

Treasurer’s Report

Pickarts presented the Treasurer’s Report. It was noted that $540.54 was overpaid on the original amount voted upon for the Space Use Consultant. Pickarts presented three options for approving the extra funds. The overpayment was ratified. A motion was made to adopt the report by Pelly, Pickarts seconded. The Report was adopted. Pelly asked for a point of order discussion with the question of how the overpayment came about. Sisk explained that three previous checks had been sent out before the final invoices came in. Each check had been written on a different account. She failed to remember one check therefore believing the final payment to be within the voted on amount.

Executive Director’s Report

Sisk presented the current 2006 Budget as adopted compared to present status of budget income and expenses. She noted the Annual Dinner had not done as well as originally anticipated. The Modern Woodmen match money was originally budgeted as over and above the Annual Dinner net. Unfortunately the dinner was about $1500 short of last year. The Endowment fund monies are considerably less at this point. Interest income is less because of the Restricted Funds and Building Fund rapid depletion. Operating costs are in line with the budget although more funds are needed. Pickarts noted that the Endowment shortfall probably should not have been included as an Operating budget item. She will clear this item up by next meeting.

Sisk will bring proposals and strategies for fundraising to make up the difference on the Operating budget. Pickarts and Sisk will have an open meeting encouraging everyone to attend to brain storm on some ideas.

Capital Campaign Committee Report

Mike Pelly has been named Chair of this committee. He reported that the committee held a conference call to discuss their plan of action. A sit down meeting is planned for next week. The plan will be a multi-tiered campaign strategy beginning with a fairly personal first stage. The members will identify wealthy individuals that may donate substantial amounts. They will then invite them to become a part of the committee, or utilize them to help bring more people into contact that will pledge money. The strategy will be to slowly branch out until it eventually becomes a full public campaign.

Chapman was asked if there is a time table. She indicated that since the final information is not available the library board is waiting to project a time line. She pointed out the binder already produced and distributed to the Campaign Committee. The Coffee Shop and part of the carpet are the first areas they wish to pursue. Beyond this, nothing has been established. Pelly stated completion dates, milestones, and due dates are what the committee is interested in. Pickarts asked if there is a contingency fund built into each figure. Chapman said yes. Pickarts also stated she is concerned with the credibility with the public. The awareness of what is going on with the funds raised is in direct relationship to the urgency of the project to be completed.

Planned Giving Report

Pat Lawlor reported the committee consisting of Abrahamson, Sisk, and she had met several times to discuss how to proceed. Abrahamson was making a PowerPoint presentation to take to Civic Organizations in the area. Possibly the same presentation for the Capital Campaign can be utilized.

She would like to see lists with donor’s names and levels of giving. She feels the long term giving can tie in with the short term capital campaign. The $5/month should also be pushed with each event.

Wilson requested that more members of the Board be brought into the Planned Giving committee.

Old Business

New Board Members

Wilson suggested each board member pick two people from the list of Annual Dinner attendees who they think should be on the Board. The board will go over each choice and then Wilson will draft a letter to send to each candidate. Pelly has already been sending out letters and will send a copy to Wilson

Events

After some discussion it was agreed each committee should have latitude on what they do to avoid in depth discussions at each meeting. When an event is proposed it should include what it will accomplish for Public Awareness, who the audience is, what the fundraiser will be, and define which budget the raised income is designated for. (Operations, Endowment, Capital, etc.)

New Business

Selection of Chairpersons for Committees

Annual Dinner Committee chair will be selected after new members come on board.

Capital Campaign Committee chair is Michael Pelly.

Resolutions for Morgan Stanley Accounts

Discussion was on how many signatures should be required for the funds at Morgan Stanley.

Pelly made a motion to require three signatures on the Morgan Stanley accounts. Pickarts seconded. Motion carried. Wilson will rewrite the resolutions and submit to Morgan Stanley.

Minor discussion on poor interest rate the Endowment fund is receiving. Chapman will forward a copy of the library’s Investment Policy to Sisk.

At 1:10 the Voting Executive Board went into Executive session. They adjourned at 1:25.

Submitted by Ruth Sisk in the absence of Secretary Eric Abrahamson.