Regular Meeting -- September 8, 2024
The Board of Directors held its regular monthly meeting at 2007 Bert Avenue, Austin, TX 78704, starting at 2:30 pm. The following directors were present at the meeting: President Kathy Lee, Vice President Kim Pillsbury. The following directors were absent: Secretary John McGarey, Treasurer Penny Chambers, and Oceanna Latham. Robert McGarey (Executive Director) and Kimmie Martin were also present at the meeting. A quorum of the full board was not present, and as such, no binding decisions or votes were conducted during this meeting.
The Mission Statement was read aloud at the beginning of the meeting. Minutes from the previous meeting were read aloud. No changes were suggested and the minutes were approved.
financial Report for 2023
The financial report for 2023 highlighted the following key points:
Expenses: $61k spent on repairs and maintenance and $7k on legal fees, primarily related to Bruk.
Personal Growth: Personal growth spending decreased significantly from $12k in 2022 to $3k in 2023.
Rent: Rent expenses dropped from $41k in 2022 to $29k in 2023.
Workshops: Fewer workshops and personal growth efforts were conducted to prioritize completing Mom's book.
Practitioner Fees: Practitioner fee revenue totaled $18k, slightly lower than last year but with potential to reach $41k.
Bingo Revenue: Generated $36k.
Total Loss: The organization reported a net loss of $53k for 2023.
financial Report for 2024 (through July)
The financial update indicates progress in recovery and a reasonable performance so far this year:
Income: $50 from wheelchair-related activities (walkers).
Bingo Revenue: Generated $31k so far, with an additional $7k expected in the fall. This will be split between mortgage and insurance accounts.
Losses: A $10k loss attributed to COVID impacts, repairs, employee taxes, and purchases (stove and computers). Previous income sources (e.g., personal growth sessions, workshops, and wheelchair rentals) have significantly declined.
Mortgage: Reduced to $152k (down from over $200k last year and $360k originally). On track to be fully paid off in six years.
Bank Balances: $6k in Frost Bank, $5,500 in the regular account, and $4k in the repairs account.
Expenses: $800/month is applied to the mortgage principal, and taxes for the last bingo quarter have already been paid.
first Item. Blah de blah, Blah de blah, Blah de blah, Blah de blah, Blah de blah, Blah de blah.
Volunteer Manager: Crystal is now the volunteer wheelchair manager and will receive 10% of sales. She will also train a new volunteer through Volunteer Match.
Workshop: Bob is conducting a workshop with the Cayce Foundation related to Mom's book, which focuses on life goals.
Family Obligation: Bob may need to cover for his brother, who is scheduled for prostate surgery around September 24.
Outdoor Chairs: The center requires 8 upright outdoor chairs for a newly purchased table. Preferences are for wooden, metal, or plastic chairs (no wicker or fabric, as squirrels damage them).
Suggestion: Kim recommended posting on the "Buy Nothing" group on Facebook. Kim and Kathy will handle the posting.
Since there was no further business, the meeting adjourned at around 4:30 pm.
Minutes submitted by John McGarey, Secretary, Jan 12 2025.