Minutes

S.M.A. Alumni Association, Inc. Board of Directors Meeting

February 5, 2001 via Conference Call

• Board members participating:

• Others participating:

• Board members not participating: none

President Phillips called the meeting to order at 7:02 p.m. EST.

The following items were discussed and disposed of in the reported manner.

The minutes of the October 20 Board meeting was approved as previously mailed to the directors and posted on the S.M.A. Web site.

Fred Thompson asked that board members contribute to the Association to help defray the cost of the conference call.

Tom Davis reviewed the financial reports of the Association and Foundation.

As of December 31, 2000, the Association had $3722.61 in its checking account. For the fiscal year 2000, the Association ran a deficit of $1,448.59. Recent increases in gas prices have affected this year’s expenses.

As of December 31, 2000, the Foundation had $2,347.60 in its checking account and $67,562.17 in the SMA/VWII Museum account. The foundation also had shares in General Electric with a book value of $15,034.26 that had been contributed for the museum project. Association dues payments were $6,225 vs. $3,500 the previous year. Unrestricted contributions to the foundation, which exclude donations to the museum project, were $3,130 vs. $3,555 the prior year. As of February 1, 2001, the SMA/VWII Museum account had a balance of $210,700.69.

Alvan Arnall motioned that the words “and operate a public museum preserving the history of Staunton Military Academy” be inserted after the word “establish” in the foundation by-laws. Gene Ehmann seconded the motion and it was passed without dissent.

Mr. Arnall also proposed that the Board consider consolidating the Association/Foundation structure and proposed bringing appropriate legal counsel to the March Board meeting. This proposal met without objection and will be discussed further at the next meeting.

Finally, Mr. Arnall suggested that the Association/Foundation send a letter to those who contributed to the museum project telling them that the project is preceding, that there is no contingent liability, and that they can deduct their contributions on their tax returns.

Tom Davis motioned that $2,721 be transferred from funds earmarked for the museum to the annual fund to reimburse the annual fund for the printing and mailing expenses associated with the letter soliciting contributions for the museum project. This motion passed without objection.

Mark Orr updated the board on the progress of the museum project and a recent meeting by several Staunton-area alumni and former faculty and staff to Mary Baldwin to discuss the project. The project is progressing well. In this discussion, Mr. Orr proposed that a formal policy for approving and disbursing funds be established. In a later discussion, Mr. Orr also noted that he had submitted a draft lease to Mary Baldwin for the space that would be used by the museum.

The board discussed the newsletter. Two newsletters will be mailed between the Board meeting and the reunion in July – one in March and one in the second week of June. Mr. Phillips indicated that the Kablegram masthead would be re-introduced beginning with the next newsletter. There was discussion about changing the format of the form on the last page of the newsletters which solicits membership dues, contributions etc. This form is perceived as confusing. This issue will be explored.

There was a discussion about the addition to the World War I Memorial on Flagpole Hill. The project, which was previously approved, currently involves plans to put a plaque on the back of the monument. There was concern expressed that the monument may not stay on the hill indefinitely, e.g., should Mary Baldwin decide to develop the site at some point. Tom Phillips asked Fred Burner to look into this issue and provide a report and recommendations to the board at its next meeting, which was scheduled for 30-31 March in Staunton.

There being no other business, the meeting adjourned at 7:50 p.m. EST.

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Robert Parrino

Secretary