BOARD OF DIRECTORS MYRNA LOY CENTER March 17, 2003 MINUTES The Board of Directors of the Myrna Loy Center met March 17, 2003. President Melinda White called the meeting to order. Board members present: Melinda White, Hattie Jo Lehman, Ali Bovingdon, Martin Holt, Lori Hood, John Board, M.J. Williams, and Paul Edwards Non-board members present: Executive Director Ed Noonan and Development Director Linda Carlson Approval of Minutes Lori Hood moved the adoption of the February minutes. Paul Edwards seconded the motion. Motion carried. Staff Report Ed Noonan reported that he received the Geyser Land budget and that it falls within reasonable parameters and expectations. The budget is based on receiving $200,00 in grants and $30,000 in ticket sales, which is $60,000 less than originally planned for. The artists agreed to split their fees in half to reach this budget which shows their commitment to the project. The Wine auction fundraiser has been rescheduled for May 16th. A "call-a-thon" will be held at the Myrna on Monday and Tuesday (March 31 and April 1) evening at 6:00 to sell tickets. Board members are asked to attend one of the two evenings to help. Ed provided an overview of this year's remaining budget expectations and discussed the basic cost and revenue drivers. Historically, the Myrna faces a $50,00 to $60,000 budget deficit at year end and that needs to change. Live Performance typically breaks even, rental revenue is limited due to scheduling restrictions, and grants provide good access to programs with limited opportunity for operating costs. Film is the one successful budget center. This year has seen record attendance with over 20,000 movie viewers. It pays for it's direct costs and makes money, but not enough to pay for building and secondary staff. Fundraising helps make up the difference, but it's not enough. Executive committee Melinda White reported that the annual Board meeting is scheduled for May 19th. Finance Committee Ed Noonan presented the financial information. He indicated that the cash flow position has not changed significantly from last month. The finance committee will be reviewing the budget weekly as the cash flows indicate that we may run out of cash in March. Proceeds from the wine auction are not included in the budget and $15,000 of the Montana Community foundation may be available soon. The Board will meet Saturday, March 29 at 10:00 at the Myrna to review the budget and plan for next year. Fundraising Committee Linda Carlson reported that the date for the wine auction has been changed to May 16 and that the ticket price for the wine auction has been reduced from $40.00 to $20.00. The event will be held at the Myrna. A new mailing will go out next week and all volunteers will be invited. Board members are asked to take tickets to sell. The board will hold a "call a thon" to sell tickets on Monday, March 31 and April, 1at 6:00. Tony and Clark Broadbent will be sponsoring a cocktail party on April 11 for potential donors. Board Development Committee Melinda White reported for the committee. Voting on the appointment of new board members included: Hattie Jo Lehman nominated Dr. Don Bishop to join the Board. Ali Bovingdon seconded the motion. Motion carried. Martin Holt nominated Tom Elliot and Susan Allred to join the board. Discussion followed and it was determined that Susan Allred has recently declined board membership. Martin revised the motion to nominate Tom Elliot. Ali Bovingdon seconded the motion. Motion carried. John Board nominated Sandy Schull, Melinda White nominated Jen Ahman Lori Hood nominated Randall Green Hattie Jo seconded all nominations. Motions carried. Election of board officers will be held at the May meeting. Martin Holt and Hattie Jo Lehman will prepare a list of nominees for the April meeting. Program and Marketing Committee Hattie Jo Lehman reported that the committee meeting has been rescheduled for Monday, March 24 at 6:00 at the Myrna. Building Committee Martin Holt reported that the atrium continues to cause a drainage problem and requires special care to keep the roof from leaking. Old Business None New Business None Next meeting is scheduled for April 14 at 6:00 p.m. Martin Holt moved to adjourn the meeting. Ali Bovingdon seconded the motion. Motion carried-meeting adjourned. Minutes approved by: