El Camino College Foundation
Executive Committee Meeting
December 18, 2007 Adm 127
In Attendance: Bob Amos, Stan Dunn, Derf Fredericks, Michael Goguen, Don Greco, George
Nakano, Virginia Pfiffner
Staff: Sue Cody, Katie Gleason
Recorder: Sue Burin
MINUTES:
Minutes from November 13, 2007, Finance/Executive Meeting were deferred to the January 15,
2008, Finance/Executive meeting to be reviewed.
COMMITTEE REPORTS:
Director of Development – Katie Gleason
o Gifts-to-Date – Gleason reported gifts received to date were $305,000.
o We have received approximately $28,000 in donations from November direct mail.
o President’s Dinner held November 30 was well attended.
o Nancy Tonner started November 26.
o Board Retreat – Gleason distributed the Strategic Planning Workshop Final Report from
facilitator Don Rickner.
Finance – Mike Goguen
o Mike Goguen reviewed Financials ending November 30, 2007.
o Gleason submitted her educational expenses for $1,981.63. Reimbursement of Gleason’s
educational expenses was approved at a previous meeting.
MOTION: Motion made by Bob Amos to reimburse Katie Gleason $1,981.63 for her educational
expenses as previously approved. Seconded by Stan Dunn. Motion passed.
Bookkeeping – Sue Cody
o Sue Cody reviewed Stewardship Fees as of November 30, 2007, against the projected
amount for 2007-2008. Discussed various changes that may affect potential earnings, e.g.,
Charles Gift is now endowed so fees will be 2% of the balance as opposed to 100% of the
earnings as a temporarily restricted fund.
o Cody discovered an incorrect transfer of funds ($224,056.85) from Commonfund account
for Programs/Scholarships T/R into the Madden Account on July 30, 2006. Discussion
ensued. Executive Committee recommended transfer back from the Madden Account into
the Programs/Scholarships T/R account in the amount of $253,270.28. Amount includes
earnings based on percentages of funds in the Madden Account at the time of transfer.
MOTION: Motion made by Mike Goguen to reverse the transfer of funds from the Madden
Account of $253.270.28 back to the programs and scholarship account. Seconded by Derf
Fredericks. Motion passed.
o
Reviewed Budget as of November 30, 2007, against the projected amount for 2007-2008.
Discussion ensued.
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Executive Committee Meeting
December 18, 2007
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o
Discussion of checking account signatures for First California Bank.
Gleason recommended increasing the wire transfer limit for Commonfund from $50,000 to
$150,000. Discussion ensued.
MOTION: Motion made by Don Greco to set the wire transfer limit with Commonfund from
$50,000 to $150,000. Seconded by Mike Goguen.
Investments – Sue Cody
 Cody provided update on transfer activity for investment funds and consolidation for
Fund 52.
Nominating – Derf Fredericks
o Derf Fredericks and Gleason met with Steve Napolitano, Field Deputy for Supervisor Don
Knabe. Mr. Napolitano has expressed an interest in joining the board. His bio will be
distributed to the board prior to the January board meeting.
o Discussion of non-active board members.
o New Board of Trustee representative is Mr. Ray Gen.
Policies and Procedures – George Nakano
o George Nakano and Sue Cody revised Stewardship Fee Policy #204 and presented a draft to
the board. Discussion ensued.
MOTION: Motion made by Stan Dunn to forward the revised Policy #204 to the full board with
a recommendation for acceptance. Seconded by Derf Fredericks. One Abstention. Motion
passed.
President’s Report - Bob Amos
o Bob Amos reviewed the Foundation Annual Report presented to the Board of Trustees on
December 17.
o Amos will not be in attendance at the January Board Meeting. Immediate past president or
2nd VP will facilitate.
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Executive Committee Meeting
December 18, 2007