June 2018 Board Meeting Minutes

Water Street Studio Board Meeting
June 13, 2018

Attendance:

Dani, Steve, Ramon, Buzz, Richard, Christine

Meeting Called to Order:  7:32 AM Steve

Seconded: Ramon

All were in favor

Welcome: Chris!

Minutes

Motion to approve the minutes: Christine

Seconded: Buzz

Treasure’s report

Stacey and Dani met with Walt and he needs to gather more information for next board meeting. See Comps YTD, May and Burn Rate Calculation. Steve says we should look at the burn rate calculation which includes Education Program. Took Instructor expesnses out because they are restricted funds. Kurt asked about if the fundraiser income is included? Steve said no because we want to have the absolute bare bones needs. Improvement from last year coming from $15,000 to $9,000. Dani: We will be getting the last installment of $15,000 of Dempsey Family Gallery Donation this week. $9,100 is the monthly burn rate.

President’s Report

Richard moved to approve board slate for 2018-2019 (President: Steve, VP: Christine, Treasurer: Stacey, Secretary: Ramon).  Buzz seconded.  Motion passed.  Board installed.

Steve- Dani sent out the new form for the $500 give/get encouragement for new board meetings

Motion to approve Board Application form.

Motion- Richard

Seconded- Kurt

All were in Favor

Christine wants to formerly vote to change policy and procedures to include the $500 give/get language

Motion- Richard

Seconded- Chris

All were in favor

Executive Director’s Report

Dani- recommends to review the budget at the end of the summer.

Steve clarified that when we look at the budget it wouldn’t be any changes but enhancements to the approved budget. Steve recommends that we make an edit to the budget to bring us into line with what is realistic and brings us to balanced budget.  Kurt says we can take the average of the last 3 years and use that.

Steve what’s the close ratio of applying for grants and securing them.

Stacey: How many grants are you applying for? Dani said she can put together a grant matrix.

Steve: What is our fundraiser budget compared to last year? How do Grant funders look at how many fundraisers we are doing. Dani said that the foundations/Grant funders require us to show any changes. Steve recommends that once Dani presents us the new number for grant income we will vote on the budget via email. Dani said that the foundations ask what our operating budget is because a lot of funders will only approve grants at certain levels. Christine- We are going to commit to once a quarter actual to budget.

Strategic Plan

Dani believes we should vote to approve post Town Hall meeting. We all agree.

Town Hall Meeting:

Dani and Barbara are meeting today to put together a format. Steve said we should inform our guests about the Town Hall Meeting. Tentative Format- June 20. 6PM food/hangout. Brief introduction- Dani. Break out into 3 focus groups for about 30 minutes. Synthesize and report to the group. Call to action. Provide promotional tools for the people to use

Update on Dunham fund

Presentation went well $225K for 3 years as an expansion to our pilot program Ripple Effect. Nicholson Program-Artist Advancement Program service 8 schools over the next 3 years. About 500 students. Kurt: when is the expected decision? Dani said we should know this week or up to a month

Standardization of Studios Committee- Kurt

Kurt gave background about how we got to this point with rent discrepancy.

See Standardization of Studios Proposal

Inger Bret pulled together comps of other rental square footage and the average is $20 sq/ft without utilities. Steve asked what the comp average and Kurt mentioned $20 but if you add all the benefits it would be an additional $6. Good starting point is $19 sq/ft. Move people to this by the following: When a studio becomes available. Every new lease will include a projected rent after renewing. Ramon asked what the current lease term is? Kurt: 1 year. The value of 3D vs 2D studios. Kurt they did discover that there used to be a usage fees (power, kiln etc) The next stage is to figure out how and what the usage fees will be. Steve asked if it was documented originally and concerned about the legality of now enforcing it. Kurt said it would need to be included in their new lease. Any studio that becomes available automatically goes to new rent schedule and also if they move. Kerri Ann asked if the 2D resident artists will have to pay usage fees if they use the 3D. Christine how many studios are under and Kurt said 70%. Stacey asked if this will be controversial and Dani said after this approved we will work on an appropriate communication. Kerri Ann suggested that we put together an amenities list. Steve said that we have a good policy but we can revisit based on market adjustment.

Motion- Ramon

Seconded- Christine

All were in favor

Christine asked will the committee take the lead in implementing? Kurt said yes. Stacey asked it there will be announcement for all?

Education/Outreach- Christine

Christine- See Karine’s report

Chris asked about the Wabaunsee program that we have developed. Dani said that we are a new location for the extension program. Ramon asked if students get college credit and Dani said no. Chris mentioned that he is meeting with the VP of Student Services and asked if we wanted him to say anything about it. 

Gallery/Events

Look at in July

Old Business

Advisory Council is up to 11 members See bottom of agenda. Dani explained to our guests what the Advisory Council is. Dani sent the first round of feedback from questions from Advisory Council. See back of agenda for proposed changes to revised membership levels. One of the feedbacks on membership was that most just didn’t get around to it. Jessica said that there is not a big, clear call to action. Dani said that at the Town Hall meeting we will have a membership booth. Moving forward their will be a membership booth at all events. Also kick off a membership drive beginning of the year.

Summary of Blues & Roots festival:
Doubled sponsorship this year and profits were substantially better over last year. Will have final numbers in July. Chris said we needed to have a membership booth. Dani said we got 5 new members since the festival. 200-280 guests. A lot of volunteers

New Business

Fox River Art Partnership: Dani has been working to develop an LLP Fine Line, Water Street and St Charles Art Council partnership. We would be eligible to have the ramble, website funded. Jaimie starting a podcast.

They are putting together the paperwork so the board can review and vote on approval. Jamie wants to make sure that we have in writing that we take leadership/ownership of podcast.

Stacey asked if there is any risk or concerns about this partnership? Depending upon what the other organization’s board is asking.

Steve thanked the guests and Christine will follow up with them

Motion to Adjourn Regular Board Meeting:

Motion to adjourn regular board meeting- Steve 8:57

Seconded- Christine

Regular Board Meeting Adjourned at 8:57 AM