October 2017 Board Meeting Minutes

Water Street Studio Board Meeting
October 11, 2017

Present: Steve, Christine, Buzz, Stacey, Dani, Kurt and Ramon

Meeting Called to order at 7:44

Motion- Steve

Seconded- Christine

Minutes from September 11, 2017 were approved

Motion- Christine

Seconded- Kurt

Treasurer’s Report (See Attachments)

Stacey and Dani met with a non profit accountant to see how to provide numbers to the board. Steve said we should have the balances. He recommended that we look at big picture by printing out visuals from QB. Stacey wanted to know of any specifics that we wanted to know at the board meeting. Steve would like to know our “runway” and our “run rate”. Our long term goal is to have a “runway” of a year. By the end of this year have a “runway” of 6 months. Kurt said we used to have a projected cash balance on hand for 3 months.

Dani- report actual vs budget which now can include KPI’s. Kurt recommends that we should have it on a quarterly basis not on a monthly basis. Dani believes we were a little ambitious about the first quarter of the Ripple Effect. Dani & Karine coming up with a proposal to the Dunham Fund to make the Ripple Effect a shorter program as a teaser for the Education program. Utilize the instructors. Karine & Dani trying to make partnerships for outreach to bring in more revenue.

Next board meeting the treasures report will include forecast and budget vs actuals

President’s Report

Board Enggement Meeting. Charlene wants us to look at where we have come and where we want to go. Julie to review policies and procedures at next board meeting. 

Executive Director’s Report

Dani- we need a new HVAC System and she is trying to get funding for it $15,000. Christine and Steve thought that is BEI’s responsibility. Buzz said that in our lease we are responsible. Steve says as a board we have a fiscal responsibility and should review the lease and make sure it is up to market; if we are below then maybe we can do this but if not they should have the responsibility. We need to review the lease on the cost per square foot. Dani said that BEI is willing to have the discussion. Dani recommends to have a sub committee for the lease. Steve and Buzz will take a look at those numbers

Met with Walt, the non profit accountant. He is going to give us a quote in November to do business. Steve wants her to get another quote.

School of Art

South Classroom Renovations

KPI’s

Kim Romaro update

Development

Guardians of the Gallery/ #Giving Tuesday

Dani & Karine are looking at monetizing what amount gets what. Giving Tuesday will be peer to peer fund raising. Dani putting together a tool kit. Ramon asked what we did last year. Raised $600 due to getting a late start. Dani wants to launch on October 15. Our goal is $10,000.

Kim is moving to a volunteering status and will complete what she said she would do.

We learned that Water Street Studios is going to be an individual and corporate sponsors not grants. Dani is going to make relationships with board members of these grants and try to get discretationary funds. She is putting together a packet for Corporate Sponsorships and will have for the November board meeting.

Christine says we need to have a sustainability discussion

Project Fusion- Stacey

Tickets and Masks are for sale on the website. Thanking Dani and Ramon for the wine pull about $1,000. We need a sponsor for deserts. Cupcake Wars at the high school is possible. Invitations should go out this week. Corporate Sponsorship- Who do you know? We still need a new committee chair for Winterfest Art Market

Marketing

Need an Internship 5 hours a week. Dani has a packet that includes job description. Keep up with social media and use the last donor video.

Old business - Dani

Meeting with Karine tomorrow to do a performance review. Motion- Karine- new salary retro to Oct 1 and review salaries in July. Steve believes we should make Karine be eligible for a bonus.

Second- Kurt

Vote- Steve

All I’s

Passed

Dani’s review is set for tomorrow.  

New business

Fine line and Dani are putting together a Fox River Arts Ramble in April. Started a partnership with SciTech in Aurora. Visiting artist program. Sculpture Park- Bill McGrath has taken a lead on this. Buzz is looking at sites throughout the city- Park District, Austin, identified a contact at Siemens. Steve thinks we should have a sub committee to support it since the city is interested in it.

Buzz says there is 10 paintings that are in storage on the 3rd floor. Use them as a kick off to get sponsors to hang them up. Any one willing to support the committee? Christine & Steve

Dani is having a difficulty in supporting print lab due to lack of interest. Kim gave her an estimate on what we would get on selling the equipment in the Print Lab. The thought to move clay lab into print lab to save $1,800 from rent on the storage area. We pay $150 a month to use the clay lab with BEI. Steve says we should look at the dollars and cents. It makes sense.

Stacey says it’s a good idea; however, there was an initial interests thinks if we promoted it we might be able to generate the interests. One way to differentiate from Fine Line is to have a screen print. Dani will put together the numbers and present to the board in December.

Please come to Artoberfest- Oct 17 

Closed session begins.

Motion to adjourn meeting at- 9:10 AM- Kurt

Second- Buzz