Final BOARD MEETING MINUTES
March 15th, 2013
The Net House, Canal Front Park, Lewes, De
Board Members: Tracy Mulveny, President; Valerie Cloutier, Vice President, Jayne Abercrombie, Secretary, Jack Lesher, Treasurer, Ray Glick, Norma Morrison, Bob Gibson, Brook Hedge, Robert Perri, Elaine Simmerman
Committee Members –Dave Bernheisel
Excused: Bert Long, Dennis Reardon, Chuck Patalive
Year to date Financials: thru 2/28/13
· Year to date $1600 spent on wheelhouse & $240 on surfboat. OF net worth equals $1,750,000 including ship restoration of $1.4 million.
· Budget approved for 2013 M/S/A, with adjustment of ship tour income from 8k to 10k.
· New insurance carrier cancelled coverage due to lack of required ship’s survey. Original coverage reinstated with Markel Insurance through Mike Cronin of M Insurance Services.
CURRENT ISSUES FOR DISCUSSION
Endowment Policy Review: Final draft of endowment policy submitted for Board consideration and vote next session. Board voted that as soon as possible after the approval of the endowment policy, an endowment account would be set up with DCF for an initial $10,000 (approximating George Elliott’s 2013 stock contribution converted to cash) plus the balance of the memorial remembrances account - some $6,000. In addition, as soon as CD funds are available, an additional $40,000 is to be transferred to the endowment account, representing the balance of George Elliott’s stock contributions for past years. The board also agreed that in future years, the endowment account would receive the then current value of Mr. Elliott’s annual gift of stock.
Wheelhouse/Monomoy progress: Discussion pending with Ted Becker and Tracy and Ray regarding adjustment to wheelhouse‘s glass wall. Wheelhouse currently under renovation – expected completion late spring 2013. Monomoy ribs have been replaced. Grants have been submitted to both the Longwood & the Welfare Foundations for a total of $50,000 in grant monies. Will hear back May/June.
Small Museum Conference: Notes from Ray from the SMA conference with a focus on responsibility for artifacts (accepting/care-taking/disposal). Ray will present recommendations at next board meeting.
CAMM/AAM: Board voted to join AAM at lowest membership level. Ray Glick will speak at the upcoming CAMM Conference in Beaufort, SC. Board approved a maximum of $400 towards his expenses for the trip, monies allocated but not used for the SMA Conference last February.
Education-Children’s Activities: As a further enhancement to our mission of teaching maritime history, Norma is exploring accreditation requirements of the Department of Education. She has also identified numerous activities for children that will further the OF mission of maritime education for children.
Social Media: Brook Hedge will have us running effectively on Facebook very soon, with Twitter to follow shortly.
Opening Party: Brook Hedge reports that the menu has been simplified, and the Chinese auction is being replaced by a wine wall auction, in an effort to streamline and ‘freshen’ the event for the Overfalls’ 75th birthday celebration.
Meeting was adjourned at 10:50.
Respectfully submitted by Jayne Abercrombie, Secretary
Enclosures to be added to final copy: