April 2004 – Board Minutes

SMA Alumni Association (SMAAA) Board Minutes
Saturday, April 3, 2004
Annual Membership Business Meeting


1.      William J. Kearns, SMA ’74, President, called the meeting to order with the reciting of the Pledge of Allegiance by the 53 members which were present. The minutes from the last SMA Alumni Association business meeting (April 2003) were unanimously accepted as published.


The Treasurers Report reflecting the finances of the SMA Alumni Association and the SMA Foundation through March 2004 was reviewed by Thomas A. Davis, Treasurer. The SMA Foundation has total current assets of $77,431.05 and net fixed assets of $172,256.70 for total assets of$249,687.75. Total Foundation revenue as of March 31, 2004 was $25,651.66 against total expenses of $5,458.75, for a net income of $20,192.91.
The SMA Alumni Association assets as of March 31, 2004 total $46,305.45, including $43,686.61 in cash, $2,518.84 in marketing inventory, and $100.00 in petty cash. Total current liabilities as of March 31, 2004 were $77.13 in payroll withholding. Revenue as of March 31, 2004 was $31,029.62, including $23,040.00 in dues payments, $1,150.45 in Cadet Store sales, $6,683.00 in reunion revenue, and $156.17 in interest income. Total expenses as of March 31, 2004 were $18,818. 17, including $2,469.55 for wages, $909.20 for accounting, $1,635.00 for data entry, $5,677.24 for publication of The Kablegram, $3,671.91 for postage, $200.55 for internet, $1,379.56 for reunion expenses, and $1,875.16 in other expenses. Net income was $12,211.46.
Mr. Davis recommended that $1,200.00 be kept in the Memorial Fund for maintenance of the World War I monument. It was decided that contributions to the SMA-VWIL Initiative would be specifically marked as such and would result in a direct contribution to the Virginia Women’s Institute for Leadership as opposed to incorporating those contributions into the Scholarship Fund. Mr. Davis noted that the Scholarship Fund currently contains $26,482.20.
Mr. Davis reported that dues income for the period 2003-2004 increased almost 24% to $23,040.00, from the same period in 2002-2003. Reunion income for the 2003-2004 period increased also from the same period in 2002-2003.
     The Treasurer’s Report was unanimously accepted.


a.  Report by Brocky A. Nicely, SMA ’65, Museum Curator: Mr. Nicely reported that the museum continues to need manequins and that visitation continues to be steady. Staffing, he reported, is a problem in the summer months when VWIL is not in session. He encouraged local alumni to make themselves available to open the museum during times when VWIL staffing is not available.
b.  Presentation of certificates by Brocky A. Nicely, SMA ’65: Certificates were presented to Donald R. Windley, SMA ’70 and John H. (Jack) Lowe, SMA ’49 for their work with SMA-VWIL Museum displays.


It was noted that reunion attendance this year is at an all-time high compared to more recent years. The combination of substantial advance publicity and the Friday evening barbeque and dance in the Mess Hall were two reasons for the increase, plus added interest in the activities of the association.


No old business was brought to the meeting.


a.      SMA-VWIL Initiative (William J. Kearns, SMA ’74): Mr. Kearns proposed a goal of $50,000 annually for the SMA-VWIL Initiative and detailed its potential impact on the Virginia Women’s Institute for Leadership (VWIL). It was noted that conversations with VWIL officials indicated that no further scholarships (other than the one currently funded by the SMA Alumni Association and those funded by Hunter W. Henry, Jr., SMA ’46) were needed. Instead the need was more of a cash contribution to VWIL to supplement Commonwealth of Virginia funding.


Discussion included a question from William Clary, SMA `54 regarding the annual operating budget of Mary Baldwin College and VWIL. C. David Litzenburg, SMA ’58 agreed to present the question to VWIL adminsitrators and respond back to the alumni. Edward H. Morse, SMA ’59 asked for information regarding the VWIL curriculum. Mr. Litzenburg agreed to acquire this information and respond back to alumni after the reunion.


Further discussion resulted in concurrence that any funds contributed above the $50,000 target prior to March 31, 2005 would be set aside for the 2005-2006 commitment to VWIL. Further discussion involved the possibility of alumni bequeathing portions of their estates to the SMA Foundation, which in turn would incorporate those gifts into the annual SMA-VWIL Initiative.


Motion was made by Eugene Ehmann, SMA ’74 and seconded by C. David Litzenburg, SMA ’58 that the SMA-VWIL Initiative be adopted as an annual program of the SMA Alumni Association to provide supplemental funding to the Virginia Women’s Institute for Leadership (VWIL). It was noted that by doing so, the SMA Alumni Association would create an even stronger bond between SMAAA and VWIL, and help to perpetuate VWIL programs and the SMA legacy.


Following the vote, a total of $20,000 in immediate cash was contributed to the fund, which was subsequently presented to VWIL officials at the annual reunion dinner. An additional $11,500 in pledges were offered following the business meeting.


b.      Based on information provided in the Treasurer’s Report, William J. Kearns, SMA ’74 made a motion that $20,000 of SMA Foundation funds be placed in AAA investments that return 5% or more. The motion was seconded by Harry W. Bruckno, SMA ’62, and the measure was passed.
7.      The nominations for 2003-2004 Board of Directors were voted upon and approved.
Thomas A. Davis, SMA ’62          Three (3) years          Nominated to continue as Treasurer
Brocky A. Nicely, SMA ’65          Three (3) years          Nominated to be Chairman, Museum Committee
John Hooser, SMA ’73               Two (2) years
Douglas Marsh, SMA ’58               Three (3) years          Nominated to be Secretary
Dr. Wilfred Webb, SMA ’61          Two (2) years          Nominated to be Chaplain          
Simon M. Painter, Jr., SMA ’58     Two (2) years          Nominated to be Chairman, Legal Committee
Harry W. Bruckno, SMA ’62          Two (2) years
Edmund A. Smith, SMA ’76          Three (3) years


8. The meeting was adjourned by William J. Kearns, President