Board Meeting Notes 2021-12-21
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| << Board Meeting Notes 2021-12-21 | 2021 Board Meetings | Board Meeting Notes 2022-01-04 >> |
Attendees
Board Members
- David Earl
- Joe Mertz
- Chris Iacullo
- James Lamken
- Dave Solomon
Other Members
- Vero Rose Smith
- Andrew Morris
- Carl Karsten
- Joe Mertz
- Sky Nova
- Amanda (Last Name Not Mentioned)
- Larry Malato
- Andrew Wingate
- Books
Agenda
1. Discuss & Approve previous board meeting minutes
- No objections.
2. Member Count & Financials
- Checking: $40,011.77
- Savings: $74,186.72
- Paypal: $13,319.04
- PEX: $15,071.30
3. Mail Check
--> Illinois Attorney General sent notice that PS:1 is delinquent on 2018 Charity Annual Report Filing.
> David is working on filling out the pop quiz from the attorney general.
> Carl will add money if necessary.
4. Votes
Membership Votes
- No votes this week.
Board Votes
--> Vote to approve Lydia Miller and Vero Rose Smith as co-arts area hosts.
> Aye: 5
> Nay: 0
> Abstain: 0
5. Officer & Team Lead Updates
GENERAL OPERATIONS:
--> Kitchen sink has been cleared for the third time this year.
> Whatever came out was "very evil" looking
> Quart of Potassium
TECH TEAM:
--> Sky will update board emails sometime after Christmas.
MEMBER MANAGEMENT TEAM:
--> No updates.
COMMUNICATIONS TEAM:
--> Will leave opening call for new PR Director to 2022 Board of Directors.
6. Updates from outside board meetings
--> Carl and James stormed a chase branch. Carl now has twice as much info as he needed. That is probably fine.
7. Discussion Topics (new & existing)
--> New City of Chicago Vaccine Guidelines effective January 3rd
> Doesn't apply to us.
--> Larry would like to know why we are running a deficit for the next year in the proposed budget, despite the dues increase.
> Carl says that last year the trend of consistent budget growth was broken out of abundant caution, but otherwise this is a standard increase.
> Carl also mentions that the budget is set by the area host's self reported needs.
> Joe adds that it is up to the membership to decide whether or not this vote makes sense.
--> Larry would like to know about the COVID-EIDL Loan.
> Carl, Joe and Chris explained the basic version.
> Chris agrees with Larry that PS:1 is a rabbithole that is easy to get lost in once you fall down it.
> Larry does not believe we will get a 10% return without risk ("That's bullshit")
> "I didn't notice when I walked around here that there was a finance department" - Larry
> Larry believes a 3% return is possible, but that incurring debt without receiving an asset in return is not wise.
> Larry believes that the outstanding debt could be a liability for soliciting larger potential donors.
> Carl thinks that building up a safety net is a good reason to incur debt, Joe disagrees.
--> Larry gets nervous when he see's people voting to spend other peoples money.
--> Sky wants to know where are Articles of Incorporation are.
> Carl and Joe have both seen them in the last two years.
> Joe believes they are both in the drive and a physical copy in the safe.
> James has found and shared the original copy.
--> Carl does not think we would need to pay property taxes if we owned our building.
--> Larry talked to Dan last night about what he would take for the building. Dan claimed he turned down a $999,xxx offer.
--> Larry claims Dan said Pumping Station: One has right of first refusal on the building.
--> Carl suggests that if Larry wants to know about mortgage and loan terms, and had the wherewithal to get them, he should go and try to do so.