El Camino College Foundation
Finance and Executive Committee Meeting
May 20, 2008
In attendance: Bob Amos, Mike Goguen, Don Greco, George Nakano, Virginia Pfiffner, Dana Ward,
Rob White
Staff:
Sue Cody, Katie Gleason, Kahea Kamahele, Nancy Tonner.
Recorder: Sue Burin
MINUTES:
 Amend April 15, 2008 Executive Committee minutes. Motion made by Don Greco the motion should
read, to authorize transfer of up to $120,000 from the short term fund to the checking account as
required.
 Amend minutes to reflect Mike Goguen’s attendance at April 15 meeting.
MOTION made by Don Greco to accept Executive minutes of April 15, 2008, as amended. Seconded by
Dana Ward. Motion passed.
COMMITTEE REPORTS:
Director of Development – Katie Gleason
 Completed two direct mails: Musical Theatre and unrestricted direct mail.
 Submitted a letter of intent to Southern California Edison for a math academy proposal.
 Scheduled a meeting with Alan Schwartz of Asset Management. Schwartz is interested in participating
in the MESA program.
 Discussion of the Osher Foundation gift –Discussed the gift and how it will be administered by the
Foundation for California Community College (i.e. investment, fees, distribution, etc.).
 Reported approximately $90,000 has been distributed by Luukia Smith (district) for 2007 – 2008
scholarships that were awarded.
 Gifts-to-date – We have received $536,000 in donations.
 Under Derf Frederick’s term, the board voted to match local service club scholarships. $10,000 was set
aside for these scholarships and most of the funds have been used. Discussion ensued if we should
continue this matching policy.
MOTION made by Bob Amos to match service club scholarships for incoming El Camino College
students in ‘08 – ’09, up to $500 per student; with a maximum total not to exceed $15,000. Seconded by
Rob White. Motion passed.
Financials – Michael Goguen
 Michael Goguen presented the April 30, 2008 financials and investment reports.
 Audit proposals have been received and the committee recommended selecting Vasquez & Associates.
Discussion ensued. Recommendation was made to solicit additional information from the two top
candidates regarding pricing and multi-year contract.
Accounting – Sue Cody
 Working on stewardship fees for end of year.
Program Coordinator – Nancy Tonner
 The Foundation website is up with on-line giving. Need to have IT install a link from the ECC top page
to the Foundation page.
 Working on ’08 – ’09 planning calendar.

Re-designing the Employee Giving campaign.
Scholarships – Kahea Kamahele
 List of scholarship software changes and enhancements is being developed and will be distributed to
Distribution committee for their review.
 Kamahele will work with Katie to develop a draft policy for scholarship distributions and use. George
Nakano will review draft and schedule meeting with Policy & Procedures committee.
Investments – Dana Ward
 Discussion of investments.
 Discussion of general fund balance.
 Ward requested planning calendar be presented at meetings.
Distribution – Rob White
 Distribution committee met with nursing department to review their request for Madden funding.
Committee was given a tour of the facility and presentation by Kim Bailey. After discussion, approved
the request. President Fallo has also reviewed the request and approved it as a campus priority. The
committee approved the following Madden requests for 2008 -2009 funding:
Nursing - $118,500 for conference attendance at State and National Student Nurses Conference, the
Psychiatric Nursing Conference, Human Simulator Annual Conference and the Oncology Annual
Conference; hosting the Ella Rose Madden Oncology Conference and to establish the Ella Rose
Madden Simulation Lab.
Radiological Technology - $22,389 for learning materials, laboratory equipment and attendance at
annual conference and business meeting of the Association of Collegiate Educators in Radiologic
Technology (ACERT).
Library Resources - $30,814.75 for books, periodicals and databases.

Rob White stated he would like clarification of the responsibilities and authority of the Distribution
committee.
President’s Summary- Bob Amos
 Looking forward to working on committees as his term ends.
 Slate of officers will be presented at the board meeting.
ACTION ITEM
 Add George Nakano to board agenda to discuss the state’s budget.