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Voting Trustees present
were: Jim Snyder – President, Bob Bourdette – Vice President, Lucy Freeman –
Secretary, Tom Herlocker – Assistant Secretary, Dave Norris – Treasurer, Lucien
Barbour, Bob Bourdette, Caroline Blakeslee, Hannelore Snyder Brown, Jim
Buterbaugh, Craig Duncan, Dan Freeman, Harry Garschagen, Jean Garschagen,
Alan Herrman, Dean Kennedy, Kay Roberts Light, Kent Radcliff, Dr. C. John Snyder,
John W. Snyder, Marjorie Snyder and Nancy Snyder.
Other Trustees present
were: Susan Forrester and Merrill Gordon.
Voting Trustees present by
proxy: Dorothy Flottman, David McDermott and Carolyn Langenwalter.
Other Trustees present by
proxy: Brian Gentry and Michael Tamburini.
Jim Snyder called
the meeting to order, declared a
quorum, and asked that the minutes to the November 24, 2009 meeting be approved.
By consensus the minutes were approved.
Jim introduced Michael Norton from E.B. Stephenson's
Office. Mr. Norton gave a brief overview of the financial compilation report in
the Annual Report. Jean Garschagen asked if they could get the report earlier so
that the Trustees had a chance to look it over prior to the meeting. Mr. Norton
apologized for the lateness of the report and stated that next year he should be
able to get it done earlier for the Trustees. We are now a public Foundation but
if IRS questions the circumstances then the Foundation could become a Private
Foundation and is taxed 1-2% and would have to give away 5% of our income every
year. Research -- Dr. John Snyder introduced Dr. Berl
Oakley from KU. A lot of the board members are interested in Alzheimer's disease
and so Dr. Snyder found Dr. Oakley. Dr. Oakley gave a brief history and overview
of his research. The Research committee has agreed to fund Dr Oakley's research
in the amount of $30,000. Scholarship -- Hannelore Snyder
Brown gave an overview of the scholarship awardees. An update on the guidelines
from the IRS about funding scholarships and grants was also given. Hannelore has
been doing research on grants the Foundation is eligible for and will be
applying for 2 different grants. These grants could bring in over $200,000 a
year for the Foundation's Scholarship/Grant program. The first letter is due in
June, the second one in August and funding hopefully shortly thereafter. One of
these grants is from the National Science Foundation. The Scholarship/Grant
committee will also be starting a partnership with Universities to mentor the
students we have awarded scholarships and grants to. The mentors will assist
them in work studies programs and other grants. Community
Projects -- Marjorie Snyder gave an overview on what the Foundation is funding
in the community. Science teachers received airliners, laptops, and projectors
for their classes. William Newton Hospital was able to purchase a Central
Monitor & Transmitter. Worked in conjunction with WNH to hold a meet and greet
with new doctors. Jean Garschagen asked Marjorie if she thought the community
would be able to give matching funds to help the foundation give money to the
different projects? Hannelore and Marjorie stated that they are working on
different ideas. Nominating Committee -- Lucy Herlocker
Freeman listed the slate of officers the committee is recommending: Bob
Bourdette as President, Dean Kennedy as Vice-President, Lucy Herlocker Freeman
as Secretary, Tom Herlocker as Assistant Secretary and Dave Norris as Treasurer.
Craig Duncan made a motion to accept the slate of officers; Jean Garschagen
seconded; motion carried. Tom Herlocker made a motion to accept the members of
the Executive/Finance Committee. Kent Radcliff seconded; the motion carried. The
following members were up for re-election: Bob Bourdette, Hannelore Brown, Craig
Duncan, Merrill Gordon, Dean Kennedy, Hal McCoy, Dave Norris and Mike Tamburini.
Tom Herlocker made a motion to accept all other committee members as listed.
Hannelore seconded and motion carried. Jim Snyder
introduced Bruce Schwyhart and Gary McCutcheon of CornerBank. Bruce and Gary
informed the members of the changes at CornerBank and assured the members that
even though the people have changed a little that the Foundation can expect the
same quality of service. Bob Bourdette presented Jim
Snyder with a picture of him as a small boy saluting. Being no other business the meeting was adjourned. |