Minutes: August 21, 2003

Minutes of the Board of Directors, The Special Hope Foundation

After receiving proper notice via email on August 9, 2003, 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 their meeting at this time, on the day, and at the place set forth as follows:

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
• Carrie Jones
• Tracie Sloat

Excused:

Ed Hoskins, Secretary

Tracie Sloat took meeting notes in the absence of Ed Hoskins, Secretary  

Minutes Approved

The first order of business involved the review of the minutes from the previous Board Meeting on May 7, 2003. All reviewed and accepted the minutes as presented.  

Review of Existing Business

Report on ASF Trustee/Regional Meetings

Five Special Hope Foundation trustees participated in the Association of Small Foundations (ASF) regional conference in San Francisco on May 21.  This portion of the seminar provided comprehensive training for new and experienced grantmakers.  A Trustee Leadership Seminar Handbook was provided including several useful documents, resources and case studies to create value and social benefit through more effective grant making.  On May 22, Lynne O’Hara made a presentation in a special ASF session dedicated to staff and Board members.

Updates on Insurance Status

Lynne O’Hara continues to investigate costs and coverage benefits from various insurance providers for general liability coverage for the Special Hope Foundation Board.  She will provide the Board an update when she is ready to move forward on this issue.

Update on Collaborative Project

Per the minutes of the May 7, 2003 meeting, the Special Hope Foundation has agreed to a $5,000 cash contribution and a time contribution from Lynne O’Hara to the collaborative group within The Foundation Incubator.  Lynne will follow-up with TFI to fulfill this commitment.  

Committee Review

• MEDIA & COMMUNICATION COMMITTEE. In the absence of Ed Hoskins, no report was given for the Media & Communication Committee.
• ADVISORY COMMITTEE. John O’Hara, Tracie Sloat and Carrie Jones presented the Advisory Committee report.  In an effort to better engage and involve the Special Hope Foundation Board of Advisors, a letter and brief questionnaire from Carrie and Tracie was distributed in July.  Carrie and Tracie summarized the feedback received from the “Question of the Month” that was included within the letter.  It was agreed that this Committee will focus its next effort on continuing to spark involvement from the Advisory Committee and prepare them for the November Trustee/Advisor meeting of the Foundation.   Carrie Jones suggested contacting the Advisory Committee monthly, seeking their input and influence, leading up to the November joint meeting with trustees and advisors.
• FINANCE & INVESTMENT COMMITTEE. Mary Wilson and Lynne O’Hara passed out a revised Investment Policy handout. There was general discussion about adopting verbiage within the policy on liquidity issues of cash assets.  Lynne O’Hara agreed to confer with Mary and other advisors (such as Ming Sui – an advisor to this committee) to further fine tune and complete this policy.  A short budget discussion followed on how to interpret data on the Special Hope Foundation financial documents.  

Grant Review

Hope Technology School

(Trustee Carrie Jones, an employee at the Hope Technology School, removed herself from the meeting during this discussion)

The Board reviewed the Grant Proposal Summary as presented by Lynne O’Hara and Tracie Sloat, who made a recent site visit to the Hope Technology School.  There was a brief discussion of available (and limited) funds within the Special Hope Foundation to grant at this time. John O’Hara moved to grant $10,000 to the Hope Technology School and Tracie Sloat seconded the motion. The trustees present unanimously passed the motion approving the grant.  (Carrie Jones was not in the room during this discussion and vote, and thus abstained).

Achievekids

(Trustee Carrie Jones rejoined the Board meeting at this time)

The Board reviewed the Grant Proposal Summary as presented by Lynne O’Hara who made recent site visit to the Achievkids facility.  Special Hope Foundation Advisor, Dr. David Traver, was consulted prior to the meeting on the merits of the Achievkids program based on his experience working with them in the past.  After a time of general discussion among the trustees, Tracie Sloat moved to grant Achievkids $10,000 from the Special Hope Foundation. Carrie Jones seconded the motion.  The motion was passed unanimously to approve the grant.  

New Business

Confirm Next Board Meeting

The next board meeting is scheduled for Saturday, November 1st at The Foundation Incubator offices, starting at 5:30pm.  

Adjournment

There being no further business to come before the meeting, upon motion duly made, seconded and unanimously carried, the meeting was adjourned at 9:20pm.

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Lynne O’Hara, President

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Tracie Sloat, (acting Secretary in the absence of Ed Hoskins)