Board of Directors
Minutes of Meeting
Call to Order- 10:43
Reading of the Minutes of the Previous Meeting– None
Opening Statement by Frank Bennett regarding the status of the Y discussing the legal status of the organization, liabilities, and the stabilization of the building i.e. roof repairs made, insurance obtained, the need for electric, and activation of the fire system.
- Opening Balance $0.00.
- $100 dollars collected- Donation Frankford Civic.
- Pledge of $500 dollars by Kristy through donation solicitation.
- Closing Balance $100.00
Reading of Receipts/ Expenses- $6,000.00 invoice for repair of roof- City Wide Roofing.
Reading of Bills and Communications- L&I notice of violations.
Report of the Auditors- None
Committee Reports- None
Frank Bennett, President NFCY, appointed the following to the Board of Directors:
|Board members in attendance:
Discussion held regarding:
- Obtaining Tony Rachuba’s signature for Frank’s appointment. Frank to obtain signature.
- Status of 501(c)3. Frank informed board that tax return for 2010 and 2011 were filed preserving the 501(c)3 status and expressed that 2012 must be timely or 501(c)3 status would be lost.
- Orphan’s court involvement. Frank informed board that Orphan’s court involvement was not necessary since this board existednand control of the Y vested with this board.
- Personal liability of board members. Frank informed that new board members are not personally liable actions of previous board members nor of the debt of the Y.
- Historical Preservation
- Need for turning on electric, security and the fire systems. Frank informed that the insurance on the building requires it and any claim may be denied as the result of failure to obtain. Approximate funds needed $3,000.00.
- Emails between Frank and Councilwoman Sanchez
- Sources of emergency funding: John Taylor, contacted awaiting reply, Christine Tartaglione contacted (John Duffy), awaiting reply, James Clay- not available funding until he takes office, possible donation- March 2013, City Council at large- Frank to contact.
- Fundraising. Letters to be distributed to fund building stabilization including turning on electric, security and the fire systems.
- Costs of repairs to building.
- Cost of maintaining the utilities and insurance per month approximately $500.00. $250 for the insurance policy, $60 electric, $60 alarm, $100 gas, $60 water, $30 maintenance. We need to find people to GIVE on a monthly basis!
- Feasibility of operating the pool. Joe to contact local Y’s and report back.
- Status of insurance claim for theft and vandalism. Beneficial Financial Services, a company owned by mortgage holder, Beneficial Bank, who has a confessed judgment against the Y with sheriff sale pending, refuses to turn over policy. Loan forgiveness will be sought if denied suit initiated.
- Opening the weight room as a meeting place for groups. Costs discussed. Pete to provide cost of ceiling replacement. Frank to determine cost of plumbing and heating and solicit donations for repair. Plan subject to turning on utilities.
- Contact Barry Howell to operate a boxing ring in gym. Costs of operation and building to be on program.
- Press involvement: Gazette, the Daily News, NE Times, Star, KYW, TV, radio stations.
Motions Presented and Passed:
- Audit of Books to determine feasibility and cause of Y’s closing. Books to be turned over to Joe for audit. Joe to PDF files and provide copies on CD to board members. Copies to be made available for public inspection.
- Rental of Mansion- Mike Galdi to determine the feasibility of renting the Mansion with repairs and utilities to be made by tenant.
- Board to open bank account.
- Frank to draft business plan and present to Beneficial Bank, mortgage holder ($250,000.00 owed) for loan forgiveness.
- Hours of Operation established: Saturdays- 9am-1pm
Meeting concluded at 12:40.
Minutes taken by Kristy Schneider, Vice President