BOARD OF DIRECTORS MYRNA LOY CENTER October 14, 2002 MINUTES The Board of Directors of the Myrna Loy Center met October 14, 2002. President Melinda White called the meeting to order. Board members present: Melinda White, Hattie Jo Lehman, John Board, Lori Hood, Martin Holt, Paul Edwards, April Towle, Ali Bovington, Peter Bovington, and John Morrison. Non-board members present: Development Director Linda Carlson, Ed Noonan, Executive Director. Approval of Minutes Martin Holt moved the adoption of the September minutes. Paul Edwards seconded the motion. Motion carried. Staff Report Ed Noonan reported that the financial viability of the Myrna Loy has improved since last meeting. The Arts Presenters grant for $96,000 and the Rockefeller grant for $28,000 for the Geyser Land project was received. The Rockefeller money will be released when two outstanding grant reports are submitted. Ed has completed and submitted one and he is researching the second one dated 1997. Fundraising goals in September were nearly met, due in part to active support from the board. This, together with lower than expected expenses resulted in the September budget coming in $10,000 to the good. In addition, an unexpected gift of $5,000 from the Ruth and Vernon Taylor Foundation will be posted to the October budget, helping to reduce the projected deficit. Film weekly averages have risen from $490 to $710 since the ticket price was increased which resulted in the best first quarter ever from July to September. Actual program budgets for September and October will be presented next month, however, preliminary reviews indicate that programming in September was successful both in terms of participation and profitability expectations. In particular, Ed reported on "10 incredible residency days" with Fry Street and the Ying. Pete did a great job organizing and managing a schedule that included participation opportunities for local schools and the community in general. Students and teachers are now able to provide feedback about programs on-line via the Internet, which has been very well received. Ed was pleased to report that the Myrna had 185 viewers for the September 11 viewing of WTC Uncut. The film was distributed on a limited basis, and NAMAC, the national film house and media organization recommended to the filmmaker that the Myrna be included since they have a "serious film audience that would appreciate seeing the film." Ed recommended not participating in the next Montana Shares campaign as he believes that the cost and time commitment requirements are too high. He also discussed his concerns with our partnership with the Montana Community Foundation. He is discouraged with the availability of grant money, increased fees, and the low rate of return. He feels that we should begin researching legal options for moving the endowment as we now have very little say in how a major portion of our net worth is used. John Morrison agreed to review the endowment documents and provide an update at the next meeting. It was also recommended that we invite Linda Reed to attend a meeting to provide her perspective to the board. Ed will be traveling to Arts Northwest in Eugene at the end of the month to attend the northwest showcase of artists. He will also be traveling to St. Louis for strategic meetings on the PORTAL (Project Bandaloop) project. NEA money will be available to prepare a package of information about the project. Executive Committee Melinda White suggested that an informal get together would provide an opportunity for Board and staff to become better acquainted. Linda Carlson offered to host a potluck on November 22. Spouses and significant others are welcome. President Melinda White asked for an update of the Strategic Plan from each committee chair. Finance: Lori Hood reported for Jill Gerdrum. Changes are: Objective 5 has been completed and removed from the list of Finance committee objectives. Objective 6: Oversee the completion of the annual audit. Solicit bids for the audit every 3 years was added as a yearly objective. Programming: Hattie Jo Lehman reported. Changes are: Goal 2, Objective 2: Present family matinees 3-6 times a year was changed to Present family oriented programs 3-6 times a year Goal 3, Objective 4: Continue media classes and rentals was changed to Have a pilot round of media classes and rentals. Goal 3, Objective 5 was added in response to the change in Objective 4: Evaluate and set a schedule after the pilot round. Marketing: Hattie Jo Lehman reported. Changes are: Goal 3, Objective 3: Increase earned income by 10% annually over the next 3 fiscal years was changed to Increase earned income by 15% over the next 3 fiscal years. Building: Martin Holt reported. Goal 1: Martin provided a schedule to function as a checklist for staff to manage building maintenance tasks. Fundraising: Linda Carlson reported. Changes are: Objective 1: Establish a membership program that increases revenue by 5.1% annually was changed to Establish a membership program that increases revenue annually. Completion dates for all objectives were changed from a specific month and year to be Ongoing. Human Resources: Ed Noonan reported. Changes are: Completion dates for all objectives were changed to annually due on a specific month. Board Development: Changes are: Completion date for Objective 4 was changed to annually. It was discussed and determined that the Programming and Marketing committees should merge and combine goals. The new committee name will be the Programming and Marketing committee. Paul Edwards made a motion to support all committee recommended changes. Martin Holt seconded the motion. Motion carried. Finance Committee Ed Noonan reported for the committee. He informed the Board that the Finance committee would adopt a new practice where each month, the budget will be adjusted to match actuals. This will provide a better understanding of the current financial status. He reported that the deficit was slowly shrinking and that $15,000 of unexpected income would be recorded in October. Martin Holt reiterated the importance of a plan to address the deficit on an ongoing basis. Fundraising Committee Linda Carlson reported for the committee. She provided an update on the Large Donor Thank You reception to be held at Paul and Helen Edwards on Nov. 9th. Invitations will be sent out the end of October and she reminded Board members that each would be responsible for making follow up calls. Melinda White proposed an idea for a new fundraising activity that has been very successful for other organizations. The function would consist of a wine and beer-tasting reception followed by a silent and live Wine Auction. Local businesses would provide donations of food, wine, beer, and other prizes (art, weekend getaways, etc.) that would be included in the auction. Ali Bovington offered to co-chair a planning committee to organize the event. Linda Carlson, Lori Hood, and Hattie Jo Lehman offered to help. Bill Hunt and Suzy Stanger, potential new board members will also be asked to help. Board Development Melinda White reported for the committee. Voting on the appointment of new board members included: Bill Hunt John Board made a motion to approve, Paul Edwards seconded motion, motion carried Suzy Stanger John Board made a motion to approve, Paul Edwards seconded motion, motion carried Bill Hunter Paul Edwards made a motion to approve, John Board seconded motion, motion carried Jeff Goldes Ali Bovington made a motion to approve, Martin Holt seconded motion, motion carried Dr. Shepherd received previous vote approval. Building Martin Holt reported for the committee. No significant changes since last month, however he is planning to get an estimate for new carpet. He is looking for ideas on how we can replace the carpet before the new sound system unveiling event. Programming The group watched the Geyser Land promotional video. Old Business None New Business None Next meeting is scheduled for Monday, November 11, 2002 at 6:00 p.m. Paul Edwards moved to adjourn the meeting. Martin Holt seconded the motion. Motion carried-meeting adjourned. Minutes approved by: