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Community Foundation Minutes 2-21-2012 PDF  | Print |  E-mail

Unadilla Area Foundation Meeting Minutes

2-21-2012

                The meeting was called to order by Bob Brandt with Peggy Leefers, Larry Larson, and Donna Crownover present.  Barb Wilhelm and Maureen Vogt were absent. 

                A recap of the Groundhog’s Day financials were reviewed.  It was noted that the foundation made $107 on the soup and jerky contest from free will donations, $526.67 on the king & queen contest, the fire department and rescue squad received the same amount.  Total raffle proceeds were $1,563 with approximately $550 needed to be deducted from this for the cost of the raffle items.  There was $1,717 of proceeds from the silent auction.  A discussion was held in regard to improvements we could make for next year.  Due to the fact that it was snowing and roads were impassable, this was still an excellent celebration for those who attended.  The foundation did make money, although not quite as much as if we would have had a larger crowd. 

                A short discussion was made in regard to the endowment for the Community Center.  We will be formulating a game plan throughout the year.  For now we are looking for large donations, from which we can develop challenge grants to receive matching funds.  The goal for this fund is probably going to be in the $500,000 range so that interest can provide funds for maintenance for the community building in the future.  It was also noted that we are missing the boat by not soliciting donations of grain.  An individual who has grain can avoid federal, state, and social security tax which may amount up to 50% of their donation.  This means that instead of that 50% going to government entities, that it will be added on to a donation that the individual was going to make anyway.  In other words, if you had $1,000 worth of grain and sell it, you may have approximately $500 left over to give.  By gifting the grain you can give the entire $1,000 to an entity, such as the foundation, and make your gift tax free.  Contact any foundation member for the particulars in regard to gifting.

                Bob reported that we have approximately $28,000 on hand in our general fund and approximately $1,000 on hand in our endowment fund.  It was moved by Bob Brandt and seconded by Peggy Leefers to transfer $1,000 from the general fund to the endowment fund, which would bring the total to $2,000.  After a short discussion the motion passed all voting yea. 

                A discussion was held in regard to making sure that our mailing list is up to date.  Some suggestions were made as to how we can accomplish this. 

                A discussion was also held in regard to additional enhancements that could be made to our celebration. 

1.       Potential bands, Groundhog poker, and enhancing the breakfast on Saturday morning, which was held in the Duncan Building.

2.       Bob noted that the foundation also received a $500 contribution from the Otoe County Visitors Committee to help with reimbursement for advertising. 

Bob noted that on February 16, 2012 the Unadilla Area Foundation hosted the 2012 Affiliated Regional Foundation meeting in the Duncan Building.  There were approximately 25 individual community members present from six or seven surrounding communities, including five people from the Nebraska Community Foundation.  The meeting provided us with some ideas on how to keep our foundation vibrant and efficient in raising funds.  Using leverage or matching funds for large contributions is something we have utilized in the past and will continue to utilize in the future.  Our All Fund Drive in the fall is a project which gives us a big bang for our buck.  Jeff Yost wrapped up the meeting at approximately 8:30 p.m. and thanked us for our hospitality.  The meal was catered by Arliss from The Bar. 

It was decided that the next meeting will be April 17, 2012 at 10:00 a.m. in the Library.  There being no further business the meeting was adjourned. 

                                                                                ________________________________________

                                                                                                Bob Brandt, Secretary