2012 Annual Meeting

Annual Meeting Minutes
November 20, 2012

Voting Trustees Present:  Lucien Barbour. Caroline Blakeslee, Bob Bourdette – President, Hannelore Snyder Brown, Lucy Freeman, Harry Garschagen, Jean Garschagen, Merrill Gordon, Tom Herlocker, Alan Herrman, Carolyn Langenwalter, Lin Lewis, Hal McCoy, Kent Radcliff, C. John Snyder, Jim Snyder, Lincoln Snyder, and Nancy Snyder.

Other Trustees Present:  Susan Forrester, Andrew Garschagen, Kay Light and John W. Snyder. 

Voting Trustees by Proxy:  Craig Duncan, Katie Eastman, Dean Kennedy, David McDermott, Marjorie McDermott, Marjorie Snyder, Sharon Taylor and William A. Taylor.

Others Present:  Dr. Mark Gilliland, Alexandra Garschagen, Shona Salzman of William Newton Hospital, Michael Norton of Edward B. Stephenson Co, Gary McCutcheon and Brian Dutton of CornerBank and Toya Laney – Administrator for HLSMF.

Bob Bourdette welcomed the trustees and asked that the minutes to the November 22, 2011 meeting be approved.  Kent Radcliff made motion to accept the Minutes.  Susan Forrester seconded and motion carried.

Michael Norton from Edward B. Stephenson Co. went over the 2012 compilation report.  Total liabilities and net assets are $8,771.460.97, which was a decrease from last year of $308,521.67.   The Foundation’s program contributions were $54,990.50.   The Foundation files a form 990, which is available for review to all Trustees.  Public Support percentage for 2011 is 15.46% of total income and the percentage for 2010 was 16.35%.  The Foundation therefore must rely on the “facts-and-circumstances” test to qualify as a publicly supported organization due to public support being below 33 1/3%.  Numerous trustees asked questions about this percentage and how it is figured and stated what their concerns were.  Mr. Norton stated the total percentage is computed over a 5-year period and that the Foundation may be in jeopardy of losing its Public Foundation status if public donations fall below 10% averaged for five years.  If at the fiscal year end 2011, the Foundation had received an additional $85,000 and the previous four years remained at original levels, the public support percentage calculation for the 2011 Form 990 would have been 19.84% rather than the actual 15.46%.  The public support percentage will adjust slower due to the five year average.  It is very important that the Foundation shows the IRS, as a part of the facts and circumstances test, that there is a continuous campaign for getting donations from the public. If the Foundation becomes a private foundation then it will have to apply to the IRS to approve the scholarship program.

Gary McCutcheon and Brian Dutton reported about the portfolio at CornerBank.   As of 12/31/2011 fair market value was $8,544,743.16 and as of 10/31/2012 fair market value was 8,969.351.79 with total account return of $776,608.63.  Asset allocations, as of 10/31/2012 was Equity 13.74%, Fixed 5.22%, Cash .01% and other 4.32%.  Mr. Dutton stated that they are looking into selling Powersure Water bond and First Trust Natural Gas.  The loss will offset the profit.  The bank will invest the money received into Global Diversified fund. The investments are more growth oriented right now but can be changed to income growth; they will just need to change to different model if the Foundation authorizes that.

Dr. John Snyder discussed the researchers.  All the research updates are in the Annual Report.  Since 2010 the two researchers at Dana Farber have published 30 + publications.  John reminded the group that Trustees need to pay attention to the publications of the researchers that the Foundation is supporting.  A Trustee asked if one of the researchers was investigating prostate cancer.  Dr. Snyder stated that both Drs. Hahn and Freedman are primarily focused on prostate cancer.  Dr. Karl Deisseroth is going to try to come to Winfield in April of 2013.  Bob Bourdette stated that the format for his presentation should be a social event in the evening, which included dinner.  Jean Garschagen asked if a fundraising event could be held combine with Dr. Deisseroth’s visit and if the Foundation could send out specific invitations to the dinner.  Bob Bourdette stated that when Dr. Deisseroth tells the Foundation when he can come then details will be discussed and plans made but he was not sure a fundraising project in conjunction with the visit would be appropriate.

Hannelore Snyder Brown went over what the Scholarship/Grant committee has done the past year.  She first said that last year, 2011/2012, none of the students in Robert Field’s Health Careers class was awarded a grant due to only one person turning in an application, which was not timely; there was no other reason that grants were not awarded.  Mrs. Brown stated that this year’s students in this class were great and that 10 out of 12 showed up and acted and dressed very professionally.  All have passed their CNA certification and are finishing their HHA certification and will start on their CMA certification in January.  It is a true pipe line and best resource for Winfield.  Look in the Annual Report for updates etc. Jackie Hill, who is getting her PhD in Policy Management Administration, has accepted a position as Director of Clinical Research in the Radiology Department at KU Med and will be an excellent resource to have in the future.  Megan Ziegler is in her last year of pharmacy school.  Starting in December she will be working in Las Vegas for a year-long pharmacy residence position.  Currently she is working in Academic Medical Center Diabetes Clinic and the VA in Kansas City.  Winfield has a wonderful system in place to build up Allied Healthcare.  Jared Albright was in the Stanford summer program with Dr. Kim and will be giving an overview of his research at Stanford during the dinner tonight.  One of the Foundation’s scholarship recipients, Craig Turner, passed away and Mrs. Brown would like to work on designating a student to be a Craig Turner Scholar.  Laurie and Dr. Turner would like to acknowledge and thank the Foundation, so they have told Mrs. Brown that they will be making a donation to the Foundation once they get everything in order.  With respect to the TAAACCT Grant, Mrs. Brown continues to work with the Kansas Coalition of Community and Technical Colleges in the hopes of furthering a statewide funding for allied healthcare students.  The TAAACCT Grant, should it be funded, will have a positive Public Relations impact for the HLSMF but all funds will go directly to the coalition.

Jim Snyder stated that the Community Projects report was in the Annual Report so he would just touch on a few things the Foundation has funded.  We funded grants to the Winfield EMS, which was used to purchase a lifepak defibrillator.  We awarded Creative Community Living (CCL), a grant to purchase a variety of dental equipment for their dental facility and William Newton Hospital received $30,000 to purchase a harmonic knife.  The committee has been very busy and will be meeting in the future to discuss funding other requests.

Tom Herlocker stated that he chaired the bylaws meeting this year instead of Lucy Freeman because she was out of town.  The Bylaws Committee and the Executive/Finance Committee recommend adding the following to the bylaws:
Article III, Section 10; Research Director:   The Executive/Finance Committee may appoint a Research Director.  He/she will coordinate and assist the Executive/Finance committee in selecting research projects to receive funds from the Foundation.  He/she will be an ex officio member of the Research Committee.  This position may receive compensation, unless the Research Director is also a Trustee.  The Research Director may be reimbursed for his/her out of pocket expense incurred on behalf of the Foundation.

Caroline Blakeslee moved to approve and Hannelore Snyder Brown seconded the addition to the bylaws.  Motion carried.

Jim Snyder nominated Dr. Mark Gilliland as a new member of the Trustees.  Jean Garschagen seconded and motion carried.  Jim Snyder went on to say that Dr. Mark Gilliland has had over 99 publications about research and plastic surgery and will be a great addition to the board.

Lucy Freeman stated that the Nominating Committee recommends re-nominating Merrill Gordon as Treasurer, Hannelore Snyder Brown as Secretary and Tom Herlocker and Lucy Freeman as Assistant Secretaries also Bob Bourdette as President and Dean Kennedy as Vice President.  This would be Bob and Dean’s third and final year in these positions.  Officers can only be elected for 3 consecutive years.  Kent Radcliff seconded and motion carried.  Mrs. Freeman went on to state that the Nominating Committee recommends re-electing Jim Buterbaugh, Harry Garschagen, Tom Herlocker and Jim Snyder to the Executive/Finance Committee and adding Dr. Mark Gilliland and Susan Forrester as new members of this committee.  Jean Garschagen seconded and motion carried.  Mrs. Freeman also stated that Todd Gentry and Marjorie Snyder where up for re-election to the E/F committee, but each declined to be re-elected at this point in time.

Bob Bourdette stated that Virginia Jane Wilkins passed away and left the Foundation a contribution of $10,000.  Kay Light stated that she knew her.  John Snyder told a story of Mrs. Wilkins mom who worked at the Oxford Flower Mill and who went into Deans Men’s wear, where Jim, Jean and John Snyder’s mom, Lou, worked and told Lou that Dr. Cecil took care of her husband and that she just wanted to pay the bill so she gave Lou the money.  Lou took the money even though she did not want to.

Bob Bourdette stated that some of the members of the Executive/Finance committee picked three names and sent letters to them asking for a specific amount to be donated to the Foundation.  The Foundation had a few donations from this effort which totaled $2,300.

Meeting adjourned