SMA Alumni Association (SMAAA) Board Minutes
Friday, April 12, 2002
1. The meeting was called to order by Tom Phillips, President, at 7:00 p.m. on Friday, April 12, 2002. Location – SMA-VWIL Museum, Staunton, Virginia.
Board members present:
Tom E. Phillips, `74 – President
Tom A. Davis, `62 – Treasurer
Mark J. Orr, `73 – Secretary
Alvan Arnall, `56
Jack Dalbo, `68
Bill A. Leeman, `50
Brocky Nicely, `65
Don W. Tobin, `70
Also attending:
Fred C. Thompson – Executive Director
Doris Thompson – SMAAA Office Manager
Jack Lowe, `58
Board members not present:
Stuart P. Smith, `48 – Vice President
Fred C. Burner, `68
Gene K. Ehmann, `74
John Hooser, `73
Bill J. Kearns, `74
Bob Parrino, `75
Kit A. Regone, `64
2. The February SMAAA Board Minutes were reviewed and unanimously accepted.
3. Treasurer’s Report – Tom Davis
a. GE Stock – the two donated GE stock gifts were added to the Museum Fund at their respective gift receipt values.
b. Walk of Honor – over 110 bricks have been purchased to date. This is a sufficient number required to proceed with the installation of first section of the walkway. Tom reported that he will order the bricks.
c. Income Statement – Tom reviewed a revised, more simplified version of the Income Statement.
d. Tax Exempt Status – Discussion on tax exempt status of SMA Alumni Association, Inc. vs. SMA Foundation, Inc. ACTION: After April 15th,, Tom Phillips and Tom Davis will press ahead with feasibility of consolidating all SMA Alumni Association activities under the SMA Foundation, Inc as a 501(c)3 tax-exempt corporate entity.
e. Salary Status – The back-pay status of Fred & Doris Thompson, SMAAA Executive Director and SMAAA Office Manager respectively, was reviewed. ACTION: Tom Phillips & Tom Davis took action to resolve back pay due.
f. 2001 Taxes – Tom Davis and Fred Thompson reported that the Federal Income Tax forms for 2001 have been filed for both the SMA Alumni Association, Inc. and the SMA Foundation, Inc.
g. New Bank Accounts – Tom Davis reported that new bank accounts have been established at First Bank & Trust, Staunton, VA.
h. Motion was made to accept the Treasurer’s Reported. Report was unanimously accepted by BoD members present.
4. Committee Reports:
a. Executive Director – Fred Thompson
b. Reunion Committee – Tom Phillips
c. Memorabilia – Jack Dalbo
1) Called 100, talked to 60, 8-12 came. Confirmed interest by those contacted.
d. Scholarship – Tom Phillips
e. Museum Committee – Brocky Nicely
f. Memorial Wall – Mark Orr, Brocky Nicley
1) Overall project cost estimate: $20,000. Cost share will be split between SMAAA and VWIL as follows: SMAAA – $15,000 and VWIL – $4,500.
2) Mark Orr made a motion to utilize $15K from the existing restricted plaque fund of $24K and replace those funds with an equivalent amount when the donated GE Stock shares are eventually sold. In the interim, that will leave $6,000 in the plaque fund for future plaques purchases over the next several years. The rest of the GE Stock shares will be used to support the museum. The motion was seconded and carried.
5. New Business Items:
a. McCampbell Prints
1) The “Unlucky Seven” print is a signed, limited edition print, normally selling for $150-175, but this source was willing to sell it to the SMA Museum for $75. The “Minsi III” print was available for $10.
2) Mark recommended that both prints be purchased and that he would have them framed for display. The BoD approved the purchase of both prints. ACTION: Mark Orr to purchase the prints and have framed.
b. Jack – Keystone plaque wording.
c. Highway Historical Marker Plaque Project
1) Draft sign text was reviewed and approved.
2) Project proposal was unanimously approved by SMAAA BoD for go ahead.
d. Board of Directors Elections – six openings
1) Jack Lowe was asked and accepted a nomination to become a BoD member.