BOARD OF DIRECTORS MYRNA LOY CENTER Jan 27, 2003 MINUTES The Board of Directors of the Myrna Loy Center met January. 27, 2003. President Melinda White called the meeting to order. Board members present: Melinda White, Hattie Jo Lehman, Paul Edwards, Peter Bovingdon, Ali Bovingdon, Martin Holt, John Board, and Lori Hood Non-board members present: Executive Director Ed Noonan and Development Director Linda Carlson Approval of Minutes: The minutes from last months meeting are lost so no there was no approval of the minutes. Staff Report Ed reported that February is a big month. We have a major residency with the Americus Touring Project and Congresso, a week residency with II Teatro Calimari and the St. Petersburg Ice Ballet. The Ice Ballet is the big risk project of the year. Programming for next year is in the balance until we see how successful the Ice Ballet and the Wine Auction scheduled for March are. Number of shows will be determined by the budget and staff size. Ed has scheduled a meeting with the Executive Committee after the Wine Auction to review the budget needs for this year. Ed discussed a plan for reducing the budget if necessary that includes further reductions in staffing. Ed will begin scheduling Mondays at the Myrna soon. The last two years have been quite successful and expectations are for another good year. Many of the country's leading art funders will be in Montana for Geyser Land. It is going to be a major national event with much publicity. Ed expects that it will help the Myrna continue to get good grant funding. The total grants received for 2002 was $284,375! Ed has started a new list of grant requests for 2003. Ed reported that his contract will be up for renewal in June and he will be discussing this process for renewing the contract at the next Executive meeting. Executive Committee Nothing to report (meetings are enjoyable!) Finance Committee Ed presented the financial statements for the Finance committee. He reported that the cash flow is expected to remain positive until the end of March. He noted that proceeds from the Wine auction are not included in the current budget. Those proceeds and a good turnout for the St. Petersburg ballet could significantly improve the cash position. He also noted that approximately $6,500 from the Geyser Land special project money could be drawn if necessary. Film attendance remains high - the increase in ticket price has not hurt attendance and we continue to break records. Martin requested a summary of film sales over the past couple of years to review at the next board meeting. Ed feels that a Marquee is critical and would like to look into what options we may have this year. We have already sold 60 tickets at $40.00/ticket for Geyser Land. The project is being marketed nationally and has generated a lot of excitement and interest. Information is available on the web at www.geyserland.org and can also be accessed through Myrna Loy website. The dedication of the new sound system is scheduled for May 10. Fundraising Committee Wine auction is scheduled for March 22 at 6:30 at the Wingate. A lot of hard work by Board members and volunteers is underway to coordinate the event. Linda Carlson reported that several volunteers have agreed to host fundraising parties – She will be working to coordinate dates and other details. Program Committee Ed reported that a meeting to discuss potential programs for next year will be scheduled for early March - after the Ice Ballet and we have a better idea of the budget we have to work with. Board Development Committee Bob Anderson has resigned from the Board – he has moved temporarily to California. Good Luck Bob! Martin Holt will contact Bob Shepherd to remind him that he agreed to join the Board at the beginning of the year. A vote was held to nominate 4 new board members: Ali Bovington made a motion to nominate Kiely Keane, seconded by Paul Edwards, motion carried. John Board made a motion to nominate Arleen Parisot, seconded by Paul Edwards, motion carried. Ali Bovingdon made a motion to nominate Carol Welch, seconded by John Board, motion carried. Hatti Jo Lehman made a motion to nominate Linda Graham, seconded by Lori Hood, motion carried. Building Committee Nothing to report Old Business None New Business None Next meeting is tentatively scheduled for Monday, February 24, 2003 at 6:00 p.m. Paul Edwards moved to adjourn the meeting. Ali Bovingdon seconded the motion. Motion carried- meeting adjourned. Minutes approved by: