FINAL MINUTES
of the
Board Meeting of June 13, 2008
at
Restaurant Andiamo! in Tierrasanta
Directors in attendance: Eric Germain (President), Dana Brown (Secretary), Lee Campbell, Roy Colosimo, Susan Deininger, Scott Hasson
Directors absent: Fred Zuckerman (Treasurer)
Guests: Mabi Hasson, Linda Coleman
The President called the meeting to order at 6:20 PM. A quorum of five was present.
Item 1: Approval of Tierrasanta Foundation Minutes from May 16, 2008
The President requested the Board review the Minutes from the May 16th Board Meeting.
Motion: Deininger / Germain
The TF Board of Directors approves the minutes of the Board Meeting of May 16th.
Passed: 4-0-1 (Campbell abstain)
The President requested signatures on the Conflict of Interest Policy and the approved Bylaws.
Item 2: Regular Monthly Meeting Day and Time for the Tierrasanta Foundation
The President proposed the first Thursday of every month as the normal meeting time for the TF except that due to the holiday there would not be a meeting on the first Thursday of July.
Motion: Brown / Deininger
The TF Board authorizes the first Thursday of each month for regular Board Meeting.
Passed: 5-0
Item 3: Review of the Tax-exemption Applications
The President presented the following to the Board.
· Federal tax-exemption application, IRS Form 1023, with a check in the amount of $750, ready to mail the following day.
· California tax-exemption application, FTB form 3500, with a check in the amount of $25, ready to mail the following day.
· Charitable Trust registration form, FTB form CT-1, which cannot be completed until the IRS sends a letter approving 501(c)(3) status.
· Draft budget of income and expenditures that was used to complete the form 1023.
The TV Board authorized the President to mail in the forms 1023 and 3500 and the checks.
Item 4: Update on Expenditures to Date
The President confirmed the total expenditures to date are as follows:
· New expenses: $1,920 to the CPA, $750 to the US Treasury (IRS), $25 to the Calif. FTB
· Old expenses: $306.38 (GoDaddy and LegalZoom)
· Total expenses to date: $3,001.38
The President noted that the TF has on hand $2,500, which was t he loan from TCC that was approved on 14 November 2007.
Lee Campbell suggested that the TCC’s loan be converted to a grant and he noted that the grant was fully funded by his successful business activities with the TCC (e.g., the Logowear and Calendar businesses). He offered to make this motion at the TCC and report back at the next TF meeting.
Item 5: Additional Start-Up Funding
The President offered four options for reimbursement of the aforementioned expenditures that are in excess of cash on hand. An additional $500 is needed to pay bills until revenue from the Taste starts coming in.
Motion: Brown / Deininger
The TF Board of Directors authorizes the reimbursement to Eric Germain for up to $500 from revenue gained from the Taste.
Passed: 6-0
Item 6: Updates on Planning of Taste 2008
Roy Colosimo, Chair of the Taste of Tierrasanta 2008 organizing committee noted
the several listed sponsors as being Coldwell Banker, Ascension Parish and the
Knights of Columbus, the Tierrasanta Kiwanis Club and the Tierrasanta Community
Council. Roy asked that the principal sponsors be the Tierrasanta Foundation
and Coldwell Banker because persons from these two organizations would be the
ones putting forth the most individual effort to make the Taste happen.
Roy reported that about 25 to 27 restaurants will be participating not counting the beer and wine distributors. Diego Desserts, who delivers desserts to the Butcher Shop and the 94th Aero Squadron, also will be participating. He reported that Starbucks and Hagi Sushi will not be participating in this year’s Taste.
The President reported insurance including full liquor liability for the Taste will provided by the Tierrasanta Community Council.
Roy suggested having “all you can drink” sponsors through Pepsi/Coke and a bottled water distributor. The board agreed.
Roy asked to have Eric Germain appointed as his Co-Chair for the Taste of 2008.
Motion: Colosimo / Brown
The TF Board of Directors authorized the 2008 Taste Co-Chairs as Roy Colosimo and Eric Germain.
Passed: 5-0
Item 7: Interim 501(c)(3) Sponsor for the 2008 Taste
The President identified three 501(c)(3) organizations who could serve as interim sponsor for Taste 2008. He recommended Kiwanis Foundation of Tierrasanta (affiliate of the Tierrasanta Kiwanis Club) as this would keep all Taste funds within the community.
Motion: Deininger / Colosimo
The TF Board of Directors authorized the Kiwanis Foundation of Tierrasanta to serve as the interim 501(c)(3) sponsor for the 2008 Taste.
Passed: 5-0
Roy Colosimo stated the following Corporate Sponsors, at $1,500 each, are John Dore (Liquor Chairman), Neil Swenson and Qualcomm.
Item 8: TierraTimes Article on the Taste 2008 and TF Website
The President suggested an article for the TierraTimes article which would include a URL to Taste page of the TF website, which does not yet exist. He reported that the needed web pages could be prepared in time for printing. He also reported an intention to pursue online ticket purchase via PayPal such that income generated through the Taste website would be directly deposited via PayPal through our NIFCU checking account.
Item 9: Grant Agreement between TF and the Tierrasanta Village
Susan Deininger has been communicating with their attorney and she will confirm when the draft agreement is ready. The Agenda item is continued until the Grant Agreement is ready for TF consideration.
Item 10: Board Member Comments and Adjourn
Lee Campbell proposed that the TF host a summer concert that would be free to the public. He noted the Recreational Center has equipment and a sound stage for use.
Linda Coleman showed up during the meeting and spoke about her concept for a “Taste Menu” booklet that would include menus and other snippets from community members.
During the meeting a surprise celebration was held in honor of Roy Colosimo’s birthday.
The meeting adjourn by consent at 8:10 PM.