May 2018 Board Meeting Minutes

Water Street Studio Board Meeting
May 9, 2018

Attendance:

Dani, Steve, Ramon, Buzz, Richard, Christine

Meeting Called to Order:  7:36 AM Steve

Seconded: Ramon

All were in favor

Welcome: Chris!

Minutes

Approved by Christine

Seconded by Buzz

Treasure’s report

Stacy- we have a good format now. April was the first month that we had an audit of who paid rent. Dani has delegated Jaime and Mary Beth to audit who has paid; It does take time to audit monthly because of opt out hours, people pay differently. Stacy mentioned that having a spreadsheet helps. Recommending that we ask Walt on the difference between Cash basis vs accrual basis. Steve wants to use cash basis because we only have a 3 month cash reserve.

Stacy: we received the last installment of the Ripple Effect funds. Print lab equipment sale- Some of the proceeds went to buying necessary items to upgrade the clay lab. Stacy will stay with the new format. We did get the $8,200 Illinois Art funds. They are reviewing our application for 2019.

Steve- what does our monthly revenue look like without gifts and grants so we can see where we are at from membership, clay lab, programing? Dani- 68% is Program Base which is a good place to be especially with donors. There’s a Data Arts and Guide Star are places that donors look.

President’s Report

Christine welcomed Chris: He is open to getting coffee with anyone before the next meeting.

Chris shared his background- He has studied Entrepreneurship and Business Management from DePaul University. Recently worked at Bank of America but they didn’t provide enough community service opportunities for him. He was with a private wealth management in Chicago. One of his strengths is thinking creatively with limited resources. He has been thinking about designing a virtual video tour of WSS with the goal of having a program that shows instead of telling the visitor our story. For example, when the visitor visits the Landing page they will be brought directly into the main gallery and with the ability to click on wherever they want to go. One of the choices available could be one of our resident artists giving a tour with the hope of giving them a reason why they came to WSS. This might be a great way to bring WSS to the foreground.

Board Recruitment

Steve has an appointment at the end of the month to meet with Jessica Bruggleman.

Steve Board Expectations- Are you comfortable with the current expectations and then add another expectation of joining as a member at the $500 level. Either through your own or find someone else. Yes. Dani’s only concern of the current expectations is that they are a little wordy. Richard says he will be willing to make edits. Steve will give it to Richard. Stacy said that the current board members would be eligible. Steve said yes because it is an expectation. Dani wants to get better at tracking the gifts in kind from our donors.

Executive Director’s Report

We have a budget draft. Our new funding goal is $70K. It is intimidating but doable. Stacy says we should list out the fundraisers that corresponds with the projected income.

Giving Tuesday, Art Auction, Fashion Show, WinterFest, 10 Year Anniversary Show is in September 2019               

Bob Vaughan has committed. Angela MacDonald who is a Kan County therapist who specializes in working with the  LGBTQ+ community. Dani and Angela are talking about having WSS as a designated “Safe Place”. Eric & Krista Anderson- FreshGround-  Working on packaging for Blues & Roots with Lisa. Steve wants to make sure that we get some funds from the sale of this package. Andy Kenney- Entrepreneur & graphic designer. Jeff Vekony- business coaching. Fran Yoshika- Event management. Caryolyn Hanna- Insurance. Debbie Gurley- real estate. Christine suggested that we invite one of the Alderman’s to be on the Advisory Council. Dani sent an introductory letter to those that agreed to serve on the Advisory Council. Dani has a list of questions to send out but wants to get to 10 members before sending out. Christine asked if we want to bring them in for once a year. Dani suggests that we invite them to the Town Hall Meeting.

Town Hall Meeting- Wednesday night in mid-June or July. Dani wants to have a facilitator so that this doesn’t turn into a place to complain. Dani put together a presentation based on the objectives. The three goals support the objectives and the bullet points are the strategy to reach those goals. Dani talked with Barbara Sergi and she can do May 19 as a strategic planning meeting. They are meeting Tuesday to finalize the format of the meeting. May 19 from 9-Noon at WSS in the south classroom.

Dani said that we are eligible to be audited

Chris asked what made us eligible. Operating budget of more than $300K makes us eligible for an audit. We received a letter from the Attorney General saying that the State didn’t receive our financials certified by our CPA. We have been assessed $100 late fee. Dani called Darlene, the previous CPA and she is going to pay the $100 late fee.

Steve wants us to find out what the cost from Walt is for the first year so we can budget appropriately. Chris- Are there procedures to look at any discrepancies during the treasurer’s report. He asked if we have a paper trail. Dani said yes.

Studios- Richard’s proposal

Steve said the best way to do this is to find a sponsor because the money from the Collective has already been applied to the budget. He said that we should put some type of time limit on getting a sponsor. Richard asked if we have a consensus from the board that we want the Collective studio. Yes, we do. Finding the money is the only issue. Dani believes that the sponsorship will be from an individual and if $5,000 is too much we might be able to split the cost with a fundraiser. Richard mentioned that the Collective is in a tenuous situation. Lost another member, but he and Steve will be taking a more active role in management of the collective. Christine asked what the issues were? Some said money and others were the logistics coming from Chicago. Richard removed the attending requirement.

Dani said we need to figure out if Studio 23 is going to be leased or a gallery? How do we handle sales? When the lease expires do we subject it to the same policies as the gallery. Steve believes we should treat it as a gallery and the artists should price their work appropriately. Richard suggested that 10% commission to WSS. By the end of the calendar year 2018 if we don’t find a sponsor that we should look at it. Steve, put it on the July board meeting and if we do this that it switches to the 30% as quickly as possible. Richard suggested that we bring representatives to an Executive Meeting to feel included. Buzz said sales should run through WSS.

Education/Outreach- Christine

Nothing new. Karine is in the process of training on the registration system.

Gallery/Events

Steve wants to reach out to the Collective to ask them to donate pieces for the 9th Anniversary Art Auction. Doesn’t have to be expensive. Terri Ross should be contacted.

Blues & Roots update- we exceeded our goal by reaching $6,000. The most we have raised. Art of the Blues call for artists with $25 application fee. We received 50 submissions. Gallery is meeting Thursday, May 10.

We will be making more money this year. Dani will be spending $50 to promote ticket sales on FB because they are a little light. There are business cards.

Old Business - Dani

Strategic Meeting- May 19 9- Noon

Board Documents were organized and put them on the Google Drive documents.

Richard asks that we look at the policies and procedures before the June meeting.

New Business - Dani

Celebrating 10 years! An opportunity to raise a bunch of money if done right. Steve said that we should do a black-tie event and live auction. Dani said we should put together a 10-year anniversary committee. Steve said it should be formed now. Dani is looking for suggestions on who to chair the committee. Richard said at the last gallery committee they talked about producing a 10- year Anniversary book. Interior signage project with Fast Color. Dani had Community Partnership brochures together. She is thinking about sending 200 hand written letters to people she knows asking to sponsor. Generic business cards where the back is blank to be filled out by the user. Work on getting the faded exterior signage to be replaced and to position perpendicular to the road rather than parallel to the road. 3 month expected completion.

Motion to adjourn meeting- Christine

Seconded- Buzz

All were in Favor

Meeting adjourned at 9:16 AM