BOARD OF DIRECTORS MYRNA LOY CENTER FEBRUARY 18, 2002 MINUTES The Board of Directors of the Myrna Loy Center met February 18, 2002. President, Bob Anderson called the meeting to order. Board members present: Melinda White, John Board, Peter Bovingdon, Bob Anderson, M.J. Williams, Hattie Jo Lehman, Jill Gerdrum, Paul Allen, Martin Holt, and Ali Sheppard. Lisa Kuntz was not feeling well and was unable to attend. Non-board members present: MLC Executive Director Ed Noonan. Approval of Minutes Ali will follow up with Linda Carlson to find the January minutes and they will be presented for approval at the February board meeting. Executive Director's Report Ed Noonan delivered his monthly report. He presented the board with a chart depicting what grant applications had been submitted, the category for which the grant money would apply (Lewis and Clark Grants, Live Performance Program Grants, Arts Plus, and General Operations), whether he thought the Myrna Loy was likely to receive the grant, and what amount we could possibly receive. Recent performances have done well. Death of a Salesman and the Fry Street Residency both played to full audiences. Ed has begun the planning process for next year's performance series. Crucial to this planning is making choices for projects that produce income or have other important outcomes and simplification of programs that are costly. Film rentals, Mondays at the Myrna, media education, and art residency programs have the brightest future, as does national performance that is supported by grants and large business sponsors. The Lewis and Clark projects and "Echoes of Discovery" program look promising. Ed will provide an update on this topic at the next meeting. March will be a crucial month for the organization, as will be further discussed during the report of the Finance committee. Board help is needed to get people to the March 3rd fundraising dinner at On Broadway, and to attend MacHomer and Mahalia. Planning Committee Bob Anderson presented the Strategic Plan to the board for approval. Martin Holt moved to approve the Strategic Plan. Paul Edwards seconded the motion. Motion carried. Executive Committee No report. Finance Committee Melinda White deferred to Ed Noonan for presentation of the Committee's report. Ed reported that we are currently operating under the 6 month revised budget that was adopted by the board in December. The Ritter Estate is set for a hearing on March 20th, if the hearing goes forward on that date we would expect to receive the $70,000 bequest soon after that, but no definite time frame exists. The board discussed cash flow issues and based upon that discussion Paul Edwards moved to authorize the Executive Committee to obtain a loan or a line of credit to meet expenses if determined necessary. John Board seconded the motion. Motion carried. Fundraising Committee Paul Edwards and John Board will co-chair the Endowment Committee. They are working on a strategy to increase the endowment and have come up with the slogan: "A Million or More by 2004!" Board Development No report. Programming Committee Hattie Jo Lehman reported for the programming committee. The Committee is meeting February 25th and will have a report for the board at the next meeting. Marketing Committee No report. Building Committee Martin Holt reported for the building committee. The new soda machine and ice machine are installed. A new sink and faucet, which were donated by Power Townsend, have also been installed. Human Resources Committee No report. Old Business None New Business Next meeting scheduled for 6:00 on March 18. Martin Holt moved to adjourn the meeting. Jill Gerdrum seconded the motion. Motion carried—meeting adjourned. Minutes approved by: