MACA Board Meeting Minutes
April 9, 2001
The
meeting was called to order by President Harvey Reed at 7:43 p.m. at the
Kennedy Senior Center. In attendance
were Harvey Reed, Mark Kaprielian, Robert Messenger, William Gennert, Michael
Hoffpauir and Steven Frymer. Board
members Peter Lee and Robert King joined the meeting at 7:45 and 8:15
respectively.
Motion
0167: The minutes for the Board
meeting on March 12, 2001 were approved with 6 in favor (Reed, Kaprielian,
Messenger, Gennert, Hoffpauir, Lee) and 1 abstaining (Frymer).
At
Robert Messenger’s request the voting totals for a previous motion on December
18, 2000 were amended to show that he did not vote. Motion 0168: The
motion (0144) to cancel MACA’s liability insurance policy was not
passed, with the amended totals of 1 in favor (Frymer) and 5 (not 6)
opposed. (Note: The policy has since not been renewed).
Treasurer
Robert Messenger distributed and discussed reports outlining MACA’s financial
situation as of March, 2001. Some
highlights were: 1) General Fund Income
Statement showed year-to-date income of $28,529., expenses of $36,302. and a
net loss of $7,772; largest expense items were $15,862. for adult tournaments
and $12,736. for Chess Horizons magazine, 2) Special Funds Income Statement,
listing the results for the Living Memorial Chess Fund and six other funds and
a $143. net loss, 3) Statement of Changes in Fund Balances, showing a total for
all funds of $46,678., and 4) Balance Sheet, providing the details for total
assets of $59,865., liabilities of $13,187. and total fund balances of $46,678.
It
was noted that most of MACA’s monies are now in a savings account at the
Citizens Bank of New Hampshire ($15,363.) or invested with the A.G. Edwards
brokerage firm ($28,325.). The General
Fund owes $11,900. to the Life Membership Fund, and a repayment plan is being
established.
Motion
0169: (Kaprielian moved, Messenger
seconded) The motion that the Treasurer
be directed to set as a goal the sum of $6,000. for operating cash balance and
that, when the balance exceeds that amount plus $2,000., then the Treasurer is
directed to notify the Board for action towards paying liabilities, such as the
Life Membership Fund loan, was passed without dissent.
Motion
0170: (Reed moved, Hoffpauir
seconded) The motion that the Treasurer
be directed to pay $3,000. towards the debt owed to the Life Membership Fund
was passed without dissent.
Michael
Hoffpauir’s report on Scholastics events described the recent successful
Scholastics team tournament in which 53 teams participated, A profit of almost
$2,000. is expected, and 100 new MACA members were enrolled.
Motion
0171: (Lee moved, Kaprielian
seconded) The motion to commend Michael
Hoffpauir for his efforts in running a very successful Scholastics program was
approved unanimously and enthusiastically.
Tournament
Director Steven Frymer reported that the Mass. Game/60 tournament went well,
but the turnout was disappointing. This
was attributed to there not being a mail notice about this event. There was still a small profit ($50.).
The
cost and procedures for sending flyers were discussed. This led to the assignment of the following
responsibilities for the flyer for the
Mass. Open tournament: Michael
Hoffpauir to mail it with the election ballot, Robert Messenger and Michael
Hoffpauir to distribute it at the Foxwoods Open, and Robert King to handle the
mailing to members. The notice about
the annual meeting will also be included in the election ballot mailing.
Mark
Kaprielian noted that 2,000 eligible UCSF members do not belong to MACA. He will prepare mailing labels for 250 of
the best non-member prospects. To
remind present members of their membership expiration dates, Mark could also
run a monthly list from the MACA data base.
Robert
Messenger presented an interim report for the Investment Committee about MACA’s
portfolio. The information he
distributed outlined the total experience from 1995 to April, 2001 of our
stocks, bonds, etc. At several members’
request he will try to provide additional details about the individual results
for each of our investment vehicles.
Treasurer
Robert Messenger had also reviewed MACA’s agreement with BanCard Systems for
our acceptance of credit card payments.
He questioned the terms of the agreement and will contact BanCard for
more information before deciding whether to sign it.
There
were suggestions about having a feedback survey to obtain members’ opinions
about Chess Horizons. The cost of
producing the magazine was also mentioned.
No decisions were reached, and this subject will be discussed at a later
meeting.
Motion
0172: (Reed moved, Messenger
seconded) The motion to reaffirm that
Mark Kaprielian will be the Data Processing Coordinator was passed without
dissent.
Motion
0173: (Reed moved, Gennert
seconded) The motion to appoint Robert
Messenger as Publications Coordinator was passed with 7 in favor (Reed,
Kaprielian, Gennert, Frymer, Hoffpauir, King, Lee) and 1 abstaining
(Messenger).
The
meeting was adjourned at 10:30 p.m.
The
next meeting will be held on Monday, May 14, ay 7:30 p.m. at the Kennedy Senior
Center.
William R. Gennert
Clerk