HomeMy WebLinkAboutMinutes - Library Board of Trustees - 08/21/2018
Fundraising Committee Meeting
Tuesday August 21, 2018
Minutes
Present: Jay Pasackow, Nancy Simson, Bonnie Finnigan, Margaretann Cross, Stacey Pape, Jennifer Murray
1. Jay called the meeting to order at 4:20
2. Additions and Deletions-Nancy requested time to present information on the search for an accountant and a
bank to serve our on-going needs.
3. Approval the minutes for July 19, 2108. Bonnie made the motion with Stacey doing a 2nd. Approved.
4. Annual Letter: Stacey reported that the mailing list is at about 5500 names which is within the budget set.
The letter has been sent to Patrick and he has returned a signed copy, which we are assuming this represents his
approval. Jennifer will order some stickers with the library logo and address. We will do handwritten thank you
letters and use the stickers on this. Nancy said if we provide the amount donated in the thank you, people can
use this for their taxes. Stacey suggested that we do the letters at a designated time at each Board Meeting.
There was some discussion about the ability to use a credit card for a donation. Jennifer checked with the City
to see if we can use theirs- we can but there will be a 2% charge to the donor. MargaretAnn will include this
information in the donation envelope. Bonnie will use Stacey’s list to track donors and assure that we respond to
all donors.
The goal is to get everything to Paw Prints by the end of next week so that we’ll have proofs and get the letters
out by the week after Labor Day.
5A. Addition to the Agenda from Nancy Simson. Nancy and Penne spent yesterday August 20 interviewing
with four accountants from firms in South Burlington. All were very helpful and advised of several items for
consideration as we go forward with the Foundation and its accounting needs. All suggested Quickbooks .
There are two options, one being buying one license and having it on a special laptop, the other would be an
online version. We are unsure of actual costs for the options at this time. One firm recommended having an
accountant on the Board and said they can provide a name of someone. Penne was following up on that offer.
Penne and Nancy will be ready to recommend a firm by our September Board meeting.
Information gathered during the interviews as follows:
· We would only be using the Accounting firm for end of year reporting.
· Any audits needed would need to be done by an auditor not related tour firm.
· We will need to have a paid bookkeeper for the Foundation.
· There may be different implications depending on whether we are “Trustees” or “Directors”. (Stacey
checked during the meeting and it doesn’t matter if it involves a non-profit.
· We will need liability insurance for bookkeeper and the bookkeeper will need to sign a non-disclosure
statement.
· We will need to have an investment policy
· We will need to have a budget for the Foundation.
· It doesn’t matter where our accountant is from as long as it is a SB firm.
Penne and Nancy are meeting with Mary Gleason at Northfield Savings Bank in preparation for recommending
a bank for Foundation.
We will be dividing into two sections: 1.Individual/ Business and 2. Grants
We need to start identifying members for a Capital Campaign Board of Directors. Jay recommends that we have
a list ready and that we look beyond the feasibility study list. Christine may have some names as well.
Stacey and MargaretAnn will continue to work on the list of naming opportunities. City wants a written
fundraising plan from us. We will also need to figure out what the donor level should be for a giving wall and
also where that wall can be situated.
Meeting Adjourned at 5:40 PM with a motion from Bonnie and a second from Nancy. All approved.
Next meeting: September 21, 2018 at 4 PM