BOARD OF DIRECTORS MYRNA LOY CENTER APRIL 22, 2002 MINUTES The Board of Directors of the Myrna Loy Center met April 22, 2002. President, Bob Anderson called the meeting to order. Board members present: Bob Anderson, Melinda White, Hattie Jo Lehman, Laurie Hood, Martin Holt, John Board, Paul Edwards, and Ali Sheppard. Non-board members present: MLC Executive Director Ed Noonan and Development Director Linda Carlson. Approval of Minutes Ali Sheppard moved the adoption of the March minutes. John Board seconded the motion. Motion carried. Executive Director's Report Ed Noonan delivered his monthly report. Ed reported that the Myrna received the Paul Allen Grant for $18,000, which is earmarked for the sound system and a final proposal for approval of an additional $5000 for the sound system has been submitted. Ed recommended that we complete the film sound system upgrade. He included a break-down of cost which indicated a total cost of approximately $40,000 for both the auditorium and screening room. We also received the NEA Planning Grant for Echoes of Discovery and the Project Bandaloop performance in 2004. The endorsement project for Echoes of Discovery is dormant and will likely not progress any further. The parking proposal has been finalized, with both the City and County signing off on it. There will be a public meeting on Thursday, April 25th at the MLC for public comment. Ed encouraged the board to attend if interested. Executive Committee Bob Anderson reported for the Committee. Bob provided a final printed copy of the strategic plan for the board's review. Bob noted that the plans provide for quarterly accountability, which will be helpful to the board in gauging the health of the Myrna. Finance Committee Melinda White reported for the Committee. The Myrna was granted an on-going line of credit for $20,000. The money from the Ritter estate will be used to pay the $30,000 that was spent against the temporary $50,000 line of credit. We received $65,000 from the Ritter estate and are expecting approximately $5000 more. Net income was reported at -29,075, but that is approximately $19,000 better off than budgeted. Our expenses have regularly come in under budget, and Melinda is hopeful we will end the year better than budgeted. Melinda also presented the proposed budgets for the first and six months of the next fiscal year. The Committee plans to present the July through December 2002 budget at the May meeting for adoption. Melinda presented the financial policies which the Committee drafted and intends to present the finalized policies at the May meeting. Planning Committee No report. Fundraising Committee Linda Carlson reported for the Committee and presented the 2002-2003 fundraising plan. Membership and corporate sponsors are projected at the level actually raised in 2001-2002. The plan includes a lot of events, which are projected to earn $18,000. The board will need to help sell raffle tickets for the New York raffle. Board Development The Committee has met and John Morrison plans to contact board members regarding potential candidates and present a slate of officers at the May meeting. Programming Committee No report. Marketing Committee No report. Building Committee Martin Holt reported for the Building Committee. There is about $5,000 to 20,000 worth of work that could be done on the exterior of the building. There are some grant applications pending that if received would be for this purpose. Human Resources Committee No report. Old Business None New Business Next meeting is May 13th, 2002 at 6:00 p.m. and is the annual meeting. Martin Holt moved to adjourn the meeting. Paul Edwards seconded the motion. Motion carried-meeting adjourned. Minutes approved by: