January 12, 2015 Board of Directors Meeting

Bloomington Community Band Board Meeting Minutes

January 12, 2015

In attendance: Jerry Jerome, Bill McGreggor, Ron Sebben, Christy Townsend, Anita Elsey(visitor), Guy Hardy, Doug Davis, Lloyd Orr, Phyllis Solnzeff (visitor), Don Westerhaus

Not in attendance: Bob Appelman, Joe Car, Phil DeLavore, Don Talbott

Minutes from November

Bill motions to accept minutes as presented, Don seconded.  Minutes are approved.

Treasurer’s Report

We may end up about $1000 short on budgeted revenue for the year, and we have a $5800 budgeted deficit.  Our fiscal year is July-June.

Bill motions to accept Treasurer’s Report, Doug second.  Report is approved.

Trailer Lettering

Logo included a black treble clef and black outline on the lettering.  We should vote to allow the slight modifications for clarity on the trailer.  Lloyd motions to accept the logo as presented, Christy seconds it.  The motion passes, with one dissention.  We will table a further discussion about creating vector files with specific logos that are acceptable.

Community Foundation Proposal for Matchstick Fundraiser

The Foundation wants ten matchstick clients to engage in a 25 hour fundraiser on March 10th in the South lobby of Assembly Hall. There will be lots of fanfare and publicity surrounding this event.

The goal is to raise $100k – roughly $10k by each participant for their endowment.

CF will match $1 for every $1 raised.

If $100k is raised the Lilly Foundation will contribute an additional $50k to be distributed to participants.

If we choose to participate, we could receive a maximum of $1.50 in matching funds for every $1 contributed.  One way to look at this is that the endowment would return 11.25% on every dollar we raised.

The return will be less if:

  1. Less than $100,00 is raised and the Lilly grant is not received
  2. More than $100k is raised and the $150k match is distributed proportionately to dollars raised.

Applications are due February 2.  There will be planning meetings at the CF on every following Monday – probably in the late afternoon.

Some questions we have include logistically how the money is raised, as well as how often we want to ask the community for money.  We also need to decide whether we want to put money into an endowment, which we can’t touch.  Lloyd suggests that we do both this fundraiser as well as investing in the mutual funds.

Guy sees this as a much bigger commitment to ask for funding on a regular basis.

Guy motions that we participate, Lloyd seconds.  Christy wants to know if we have the manpower to attend weekly meetings.  Jerry and Lloyd both committed to attending the meetings, and Lloyd believes Gary will be able to go as well.

Don wants to know how much we get from this.  Our endowment gives us roughly $2,500, soon to rise to $5,000.  The Community Fund rule is 4.5% of the long term value of the investment.

The motion passes with one dissention.

Long Term Investments

We have about $15,000 in funds to invest.  We could place them in our CF endowment, but there would be no match, we could never withdraw them, and over four years, it would build up to a maximum 4.5% return.  With their 1 for 2 match of our contributions we will be receiving 6.75% on money we have currently placed with them.

Lloyd suggests that we invest in our own “quasi endowment”, a mutual fund from which we withdraw 5% per year, and that we invest it in the Wellington fund as previously discussed.

Over three years, we would build the withdrawal to 5% of a 12 quarter moving average.  This is a common endowment rule that evens out the 5% distribution from the fund over time.  The purpose of the fund is to generate income.  However, we do not need to lock it in –as in an endowment.  A majority, or super majority (7 or 8?) of the Board could withdraw from the fund under circumstances of serious financial need.

In future years we would always have a choice of contributing donations to either this fund, our CF endowment, or to our operating budget.

Doug motions that we invest $15k in the Wellington fund, Bill seconds.  Motion passes.

Marketing

Social Media – Jerry thinks we need to fix our Facebook presence.  Christy can help with this.  Guy has some reference pamphlets for that.  He suggests that we create a written policy that governs how the account is proactively monitored.

Website – Doug says that the website is almost done, and a subset of the website committee will meet with Jen on Friday.  We should be up and running by mid-February.  The OATS system will be changing a bit, which will require some training.

Member Participation – Guy thinks we should have a team of people who populate our social media accounts.  Also, if we are going to beef up publicity, we need to have a team of our members to help with publicity and outreach.

Jerry has been getting a head count of how many people are attending each of our concerts – Bonnie has been counting our audience members.

Bill has 7 calendars that we advertise on.  We should do select posters to advertise, plus we could also put out a concert schedule poster to advertise our summer schedule for the Bloomington area.

Brochure – There are two different parts of the brochure – Fundraising the ads for the brochure, as well as the design of the brochure.  Bill and Guy can work together on this.  Christy can help with design.  We need to have a print deadline including a mockup to bring to advertisers.

Board Procedures

Jerry wants to create a quarterly newsletter to the band.  He will put one out in March.  More power to Jerry.

Music Selection and Concerts

We would like to possibly reduce the number of concerts we are performing.  In order to determine this, we should look at both the least attended concerts audience-wise, as well as the least-attended concerts membership-wise.  Part of this should include making sure that the section leaders are on top of who is not attending and why.

We also should look into having a formal, sit-down concert at least once a year.  These kinds of specialty concerts tend to build a following.  We should also look into some different kinds of venues.

We also should think about what we’re playing at which venue, and make sure that the music we play at each venue makes sense for the venue and audience.  Ron is working on changing up how he determines what we’re going to play.

Equipment

We need a tent structure for the 4th street festival, and Bill has a good idea of what we need.  We would be able to use it for other events as well.  We would also need a banner to put on the tent.

Doug would like us to be able to hear ourselves more often.  He would like to explore the possibility of acquiring some recording equipment.

Membership Issues

Appearance – Jerry thinks we need to work on our appearance.  The section leaders can help with this.

Photograph – We also need some decent publicity photographs.

Members Handbook should be discussed at the next meeting.

Weekly Introduction of Members – Doug tried to get band members to introduce a member of the band each week so we can get to know each other.  He’d like us to talk about this at a later time.

Rehearsal Space

When St. Thomas begins their renovations, we will be able to move our rehearsals to the Endwright Center.

Meeting adjourned at 9:43pm