Minutes of the Board of Directors, The Special Hope Foundation

After receiving proper notice via email on April 21st, a quorum of the Directors named either by the Incorporator or listed in the Articles of Incorporation, constituting the Board of Directors of this Corporation, held thier meeting at the time, on the day, and at the place set forth as follows:

TIME: 8:22 p.m.
DATE: May 7th, 2003
PLACE: The O’Hara Home
757 Harvard Avenue, Menlo Park, CA

The following Directors, constituting a quorum of the full Board, were present at the meeting:

  • Lynne O’Hara, President
  • John O’Hara, Vice-President
  • Mary Wilson, Treasurer
  • John Coyne, Secretary
  • Ed Hoskins  

Minutes Approved

The first order of business involved the review of the minutes from the previous Board Meeting on February 5, 2003. All reviewed and accepted the minutes as presented pending the addition of the Treasurer’s Report.  

Review of Existing Business

COF Family Foundation Conference

John O’Hara gave an overview of what he and Lynne learned as a result of attending the Council on Foundations Family Foundation’s Conference held from February 23-26th.  

New Business

Insurance

The Foundation has obtained Non-Profit Organization Liability Insurance Director & Officer Insurance. A copy of the declaration was distributed to each of the Board Members to add to their Board Manuals.  Lynne O’Hara will continue to investigate the need for further liability insurance.

TFI Collaborative Project

A group of foundations have agreed to conviene and  pool resources in order to create a collaborative pool of funds. As authorized at the last business meeting, The Special Hope Foundation has agreed to a $5,000 contribution to the collaborative group. Lynne O’Hara has also agreed to donate her own personal time.  Lynne O’Hara reported that the groups focus was complimentary to the mission of the Special Hope Foundation, thereby satisfying the requirement set by the Board for participation.

Committee Review

  • Ed Hoskins presented the Media & Communication Committee Report. The internal web site is now a “Spintranet” which means it is now a private (password protected) site.
  • John O’Hara reported no new news from the Advisory Committee.
  • Mary Wilson gave the Financial Committee Report, reviewing the Portfolio Summary as generated by Everett & Harris. The plan has moved from 100% stock to a more diversified investment plan. The changes ensure that there is enough income in the future to cover future grants (at 5% rate).  

New Business

Foundation Budget

Mary Wilson presented an updated budget for the fiscal year ending June 30, 2003. Mary also presented a preliminary budget for fiscal 2004.  Budget was unanimously approved.

New Board Seats

  • John Coyne has decided to step down as a board member due to on-going professional obligations. Foundation by-laws, article 6, section 1, require a nominating committee 60 days before the election. We only had 42 days notice from John Coyne, so we moved to take nominations from the floor. Nominees included Tracie Sloat (nominated by John O’Hara) who in on the advisory committee and has significant foundation experience, and Carrie Jones (nominated by Mary Wilson) who is a speech therapist at the Hope Technology School.  By-laws indicate that the Foundation can have between 5 and 10 board members. Tracey Sloat was unanimously selected and Carrie Jones was selected by a vote of 4 yeas and 1 nay. Lynne O’Hara will notify and train both new members.
  • Lynne O’Hara’s seat also was up for renomination. Lynne was unanimously re-elected to the board.
  • Replacing John Coyne as Board Secretary, Ed Hoskins was nominated and unanimously selected as Secretary.

ASF Trustee Leadership Seminar

The Association of Small Foundations will be holding its regional conference on May 21 and 22 in San Francisco.  The first day of the seminar is targetted toward Board Members and will be attended by Mary Wilson and John and Lynne O’Hara.  Tracie Sloat and Carrie Jones will also be invited to attend.  The second day is open to Board and Staff Members.  John O’Hara will be attending and Lynne O’Hara is a scheduled presenter.

Rescheduling Next Boarding

The next board meeting was moved to Wednesday, August 20th, 2003 at 7:00 p.m. due to conflict with the previous agreed date. The meeting will be held at the O’Hara’s home.  

Adjournment

There being no further business to come before the meeting, upon motion duly made, seconded and unanimously carried, the meeting was adjourned.

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Lynne O’Hara, President

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John Coyne, Out-going Secretary