El Camino College Foundation
Executive Committee Meeting Minutes
June 17, 2008
In attendance: Bob Amos, Stan Dunn, Mike Goguen, George Nakano, Virginia Pfiffner
Staff: Sue Cody, Katie Gleason, Nancy Tonner
Recorder: Sue Burin
Mike Goguen introduced representatives from the new audit firm Vasquez & Company – Paul
Luke, Lee Waddle and Ms. Benel Se-Liban. Se-Liban presented an overview of the company and
the services they will provide for our audit.
AGENDA:
Minutes from the May 20, 2008 Finance/Executive meeting were presented, however a quorum was
not present to vote on approval of the minutes. Minutes will be presented at the July Finance
committee meeting.
Committee Reports:
Director of Development – Katie Gleason
 Gifts to date – we have received over $607,070 in donations.
 Direct Mail - received $6,000 in contributions with an average gift of $126. We are
receiving fewer donations then in previous years which may be reflective of the current
economic conditions.
 Working with Kahea Kamahele on new scholarship policy that will include information on
distribution and use of funds for scholarships. The policy will go to the Policy and
Procedures committee to review.
 Preparing proposal to send to Alan Schwartz.
 Met with a donor on her estate planning. Donor has included the Foundation in her will and
will be designating approximately 50% of the contribution for unrestricted funding.
 Book Fund - Gleason proposed that we designate $40,000 for the ’08-’09 Book Fund
distribution. Discussion ensued. A quorum was not present to approve the
recommendation. Motion will be presented at the July finance committee meeting.
Program Coordinator – Nancy Tonner
 Developing a survey for employees which will provide information about their giving
preferences, etc. for the Employee Giving Campaign. This is part of the staff’s plan to
revamp the Employee Giving Campaign.
 David Benoit concert set for October 18. Cost will be $100 per person.
Finance – Mike Goguen
 Reviewed Financials as of May 31, 2008.
Executive Meeting June 17, 2008
Bookkeeper – Sue Cody
 A special Finance meeting was held to review the Foundation budget for 2008 – 2009. The
budget is set at $340,000; this includes a carry over of $40,000 from ’07 - ’08 approved
iGrants that have not been funded yet.
 Foundation Scholarships – completing the distribution and accounting for the ’07 – ’08
awards. Will transfer remaining balance from ’07 – ’08 awards for distribution to district.
Undistributed award dollars will be transferred into T/R fund restricted for scholarships.
 Preparing to transfer stewardship fees of $145,388.74 for ’07 – ’08 and program transfers as
follows: Madden - $146,703.75, Challenge Fund - $30,000 and Fund 58 - $43,000 for a
total transfer of $365,092.49. Discussion of the standard accounting practice for
stewardship fees and rebalancing the portfolio.
Development Committee – Tom Cohenno
 In Tom Cohenno’s absence Gleason announced a Development committee meeting has been
scheduled to review the Osher Foundation scholarships and other strategic planning.
Board Issues and Concerns
 NCCCF Symposium will be held October 15 – 17.
ACTION ITEMS:
 Minutes of May 20 Finance and Executive Committee meeting to be approved at July
Finance meeting.
 Book Fund motion to be presented at July Finance meeting.
Executive Meeting June 17, 2008