LOS ANGELES SOUTHWEST COMMUNITY COLLEGE FOUNDATION
Tuesday, March 18, 2008
6:00 p.m. – 7:30p.m.
Los Angeles Southwest College, President’s Conference Room, Cox
Building
Minutes
Present: James Webber (Chairman), Samuel Bingham, Dr. Sandra Cox, Dr.
Thelma Eaton, Gene Hale, Ambassador Sidney Williams, Dr. Jack
Daniels (ex-officio)
I.
II.
III.
IV.
V.
Call to Order
Meeting was called to order by the Chairman at 6:10p.
Approval of Minutes of February 26, 2007 meeting.
Minutes were accepted as presented
Public Comment
Ms. Pat Lewis presented to the board a request for funding a matching
scholarship program sponsored by an unidentified donor and the Black
Faculty and Staff Association (BFSA).
Financial Report
Dr. Daniels gave the financial report indicating balances, withdrawals
and deposits. In his report he stated that approximately $71,325.34
was deposited into the account in 2006 that should have been directed
to the college’s Community Service Program. This amount was written
on a check from the California Community College Foundation. The
amount was never calculated within the balances of the Foundation. A
check will be written subsequent to the exact amount being verified to
the community service program. Financial report was accepted and
approved.
Old Business
a. Marketing Materials
1. Marketing Prototype
Dr. Benson presented a prototype of the marketing brochure.
The Board provided input as to refining the brochure. The
Board also requested that the brochure be as diverse as
possible, clearly stated, and considers the audience being
solicited. A color draft will be sent to Board members on
Friday, March 21, 2008.
2. Stationary
Dr. Daniels indicated that the stationary will be completed by
the next meeting.
b. Financial Issues
1. New account at Bank of America
There was further discussion by the Board on where the
bank accounts should be placed and what amounts should
VI.
be placed in a banking institution to insure the funds at the
highest possible level. The FDIC maximum is $100,000.
Both Ambassador Williams and the Mr. Webber will
continue to pursue a banking institution that will provide the
Foundation with the greatest return. A new resolution,
replacing the one passed at the February meeting,
authorized Mr. Webber and Ambassador Williams to make
appropriate changes related to establishing or refining the
accounts with a different or the same bank holding the
funds. These changes would reflect the best interest of the
Foundation and obtaining the highest interest rate as
possible. Further, Mr. Webber and Ambassador Williams
will seek and deposit the Endowment Funds in the best
possible fund focusing on highest interest rate and one that
provides the greatest return on the fund investment. The
Board unanimously approved this resolution.
c. Fundraising Update
Dr. Daniels requested this item be pulled and put on April, 2008
agenda.
New Business
a. Board Composition Exercise
Due to limited response from Board members, this item was
postponed until the next meeting. Dr. Daniels will mail another copy
of the exercise to the Board members this week. Once the form is
completed, it is to be returned to Dr. Daniels for data compilation.
b. Procedures for Funding Requests
Dr. Daniels distributed a draft copy of the Funding Request. The
Board requested that a funding policy be crafted by the Board.
Additionally, it was suggested that the Board, at some time, form a
grant committee that would review all grant and funding request
and make a recommendation to the entire Board.
c. Request of Pat Lewis
The Board denied the request presented in the public comment by
a 5-1 vote.
VII.
Announcements
Dr. Eaton announced that Assembly Member Karen Bass will be the
next Speaker of the California Assembly. She moved that the Board
send a congratulatory letter to Assemblywoman Bass. The Board
agreed unanimously.
Dr. Daniels reported on the success of the Drama Team in the National
Association of Dramatic and Speech Arts Conference. The team did
extremely well and won several firsts.
VIII.
Adjournment
The board adjourned at 745p.
NEXT MEETING:
APRIL 15, 2008