The Chair, Linda Ziemann, called the meeting to order on January 20, 2011 on the IAGEN-EXEC list.
The following directors were present: Linda Ziemann, Rich Lowe, Constance Diamond, Don Kelly, Ralph Leonard, David Dinham, Greta Thompson, Gail Kilgore, Richard Harrison, Karen De-Groote-Johnson, Sharyl Farrell, Mark Christian, Barbara Hug
The Chair announced the agenda in the welcome message.
Opening Remarks Traditional Roll Call Secretary's Report Treasurer's Report Discussion & Vote for approval of both reports. The only item of business: Ratification of the Boardıs actions over the past 12 months. Closing Comments & Adjournment
Mark Christian presented the Secretary's report.
The 2010 annual meeting was held January 21, 2010 through February 13, 2010. Board of director meetings were held May 22, 2010 through May 29, 2010 and July 22, 2010 through July 30, 2010. The following items were enacted by motion. 1. Approval of server funding of $59.95 per month through June, 2010. 2. Approval of closure of the Friends Store. 3. Approval of server funding of $59.95 per month through June, 2011.
The Chair called for comments then declared the Secretary's report approved as read.
Rich Lowe presented the Tresurer's report.
Financial Reports updated as of year-end December 31, 2010 can be found at: http://iagenweb.org/state/friends_of_iagenweb-operations/ Balance Sheet: US Bank Checking: $1,325 PayPal Balance: $3,049 Income for calendar year 2010 was down $541 from 2009. Membership/Donations were down by $259. Google AdSense income of $2,887, was down $279 from the previous year. Since the inception of AdSense on Aug 9, 2008, we have earned a total of $6,938 to date, with 100% of that income designated for debt reduction. Operating Expenses were down by $557 with the major expense items being our server expense at $719 and interest expense on the Loren Toomsen liability account. Interest paid dropped from $514 in 2009 to $287 in 2010 while the balance owed on the loan principle was reduced from $6,162 at 12/31/2009 down to $3,359 as of 12/31/2010. Bank and PayPal assets now exceed the balance owed to Loren Toomsen. Since we are paying 6% interest on the loan and earning basically nothing on the account balances, the board may want to consider paying off or paying down the load on an accelerated basis.
The Chair called for comments then declared the report accepted and approved as presented.
It was moved by Mark Christian and seconded by Richard Harrison that all proceedings of the Board of Directors and all actions taken by the Board of Directors or by the officers of this organization since the last annual meeting are hereby ratified.
Votes For: David Dinham, Ralph Leonard, Greta Thompson, Richard Harrison, Barbara Hug, Rich Lowe, Mark Christian, Sharyl Ferrall, Constance Diamond, Gail Kilgore, Don Kelly, Karen De Groote-Johnson, Linda ZiemannThe Chair declared the motion passed.
The Chair adjourned the meeting on January 25, 2011.