Maca Board Meeting Minutes |
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09-18-02 |
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Kennedy Senior Center, Natick, Mass |
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Minutes Prepared
by Mark Kaprielian, Clerk |
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Scheduled: 7:30 PM |
Opened: 7:32 PM |
Closed: 9:52 PM |
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Board Members |
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Arrive |
Depart |
Guests Present |
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Pres |
Harvey Reed |
Present
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7:30 |
9:52 |
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V.P. |
Steve Frymer |
Present
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7:05 |
9:52 |
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Treas. |
Bob Messenger |
Present
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7:33 |
9:52 |
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Clerk |
Mark Kaprielian |
Present
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7:05 |
9:52 |
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Stephen Dann |
Present
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7:24 |
9:52 |
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Frank Del Bonis |
Present
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7:36 |
9:52 |
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Larry Eldridge |
Present
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7:35 |
9:45 |
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Tony Gavelis |
Present
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7:28 |
9:12 |
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Gus Gosselin |
Present
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7:33 |
9:52 |
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Robert King |
Present
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7:52 |
9:52 |
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Peter Lee |
Present
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7:15 |
9:52 |
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Tim Oliveri |
Absent
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Maryann Reilly |
Present
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7:20 |
9:12 |
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Note: All vote tallies
are shown as For – Against –
Abstention, e.g. 5 – 2 – 1 |
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The President reviewed the agenda.
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Reed, Gavelis 2nd To approve the Draft 1 minutes of 08-20-02 meeting as presented on the web. Passed: 5 – 0
– 3 |
No Report given
The Budget Coordinator handed out copies of proposal 4. The following is the Base budget agreed upon for the vote.
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Income |
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Membership and subscriptions |
$6,000 |
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Advertising revenue |
$2,500 |
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Chess Horizons sales |
$250 |
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Adult tournaments, net |
$3,000 |
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Scholastic tournaments, net |
$3,500 |
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Dividends |
$1,300 |
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Interest |
$150 |
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Donations |
$500 |
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Miscellaneous income |
$50 |
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Total income |
$17,250 |
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Expenses |
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Chess Horizons |
$14,000 |
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Internet |
$500 |
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Promotion |
$600 |
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Election |
$300 |
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Administrative |
$450 |
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Insurance |
$1,000 |
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Bad debts |
$350 |
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Miscellaneous expenses |
$300 |
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Total expenses |
$17, 500 |
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Motion_2002-09-02 Lee, Del Bonis 2nd To approve the budget (as shown above in these minutes). Passed: 8 –
1 – 2 |
No Report given
The Database Coordinator reported that the Database is current and labels are being printed for the October issue of CH. The mailing for CH will be 1123 minus 40 that have been tagged as bad addresses since June or before yielding a mailing of 1083. We had about 32 Junior memberships come in from a source we’ve never had before. The MCC awarded these memberships as part of their tournament prizes for their Summer Scholastics program.
Membership is at the highest point since June of 2001 with 948 voting members. The distribution of members is as follows:
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Category |
How many |
Have Email |
% With Email |
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Adult Members |
334 |
163 |
49% |
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Family |
12 |
6 |
50% |
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Junior |
402 |
225 |
56% |
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Life |
200 |
26 |
13% |
The LMCF Coordinator reported that the latest activities of the fund have been posted to the web site.
The Membership Coordinator reported:
Total members received 32.
19 in state and 13 out of state.
21 Adults and 11 Juniors
21 New and 11 Renewed
One of the above was a Life Membership.
The Parliamentarian reported that no progress has been made on Bylaw rework.
The Prison Chess Coordinator reported that a match with Bay State correctional in November.
The Promotions Coordinator reported that he is continuing to do cost comparisons for the various promotional materials. Some discussion of what type of materials should be produced first. General agreement that we should have a banner made among the first items.
The Publications Coordinator reported that CH has won a number of awards again. He stated that our Editor Mark Donlan and the contributing staff has done an excellent job. He has been working on a deal with TCI to create cost savings by our moving to them. A proposal for a move will be presented for a vote at the next meeting.
The Publications Coordinator reported that he lost his best contact in the Natick school system which will result in much more cost in all our Natick school system events. This leaves us with only two events with confirmed sites.
Greater Boston Open – Bob Messenger is taking entries.
Pillsbury Memorial TLA has been sent in for two issues.
The Grand Prix program may or may not have made it into the
October CH.
The Volunteer Coordinator says he has a list of new possible volunteers supplied from the Scholastics committee. It
No real progress has been made on payment over the web.
The email Maca News List has 793 emails with less than ten that currently bounce still on the list.
To assist the Waltham Chess Club, a WCC News List has been established using the Maca web site resources. The WCC list currently has 64 emails on the list.
The MetroWest Chess club News List has 244 emails on their list.
24 players are on all three Lists.
128 people are on both the MCC and Maca lists which results in 909 unique email addresses reached if email were sent to both lists.
Gus Gosselin presented the following Maca portfolio status.
The market hit bottom about 3/4 of the way through July, had a nice bounce upward in August and the so-called Bear trap moved in and basically moved sideways into September, Bush's war talk and a soft market helped the market go down somewhat. September is historically not a good month for the market. I'm happy that a lot of people and other governments disagree with Bush.
The value of the portfolio lost $285.75 from July 31, 2002, to August 31, 2002.
Individual
Investments:
The Zweig Total Return Fund (ZTR) showed slight upward movement.
Oge Energy dropped to $18.75 from a 2002 high of $24, but remains above its previous low of $16.13 P/E. Ratio of 12.72 is solid.
International Paper has been holding its price of about $25 a share since Feb. of 02.
Bank One Corp continues its side way movement at $40/ share. Its 52 week low was $25.
Kramont Realty Trust dropped from $16 to $14, but is above ts previous low of $8 at the end of 1999. Its P/E. Ratio 0.72 (Bears watching closely.)
HRPT Properties is also moving side ways since Dec. 2000 P/E. Ratio 17.42
Health Care Prop. very bullish in a bad market reaching $44.50 per share.
Problem:
MACA has too much money in the money market drawing a very low yield of 0.94
The amount is $5570.52. Combine this with the cash in the Citizens Bank (also drawing a low yield) and the total sum is approximately $21,000 drawing a low yield.
Portfolio Value: WHERE THE MONEY IS. INVESTED.
AUGUST 31, 2002 25,986.53
JULY 31, 2002 26,272.27 21.52% IN MONEY MARKET FUND(a)
JUNE 30, 2002 25,773.16 10.59% STOCKS AND OPTIONS
MAY 31, 2002 23,888.32 48.48% IN PREFERRED STOCKS
APRIL 30, 2002 26,992.73 19.41% IN MUTUAL FUNDS
100.00%
MARCH 31, 2002 26,746.29
FEB 28, 2002 26,637.74 AVERAGE YIELD (DOES NOT INCLUDE LMCF)
JAN 31, 2002 26,934.89 8.23% Was now 8.33%
DEC. 31, 2001 25,746.91 (a) Amount of money in the Money Market fund was 15.96% end of July.
NOV 30, 2001 25,569.91
ALL MONTH END VALUES INCLUDE LMCF.
ALL MONTH END VALUES INCLUDE
LMCF.
PROBLEMS: MONEY MARKET FUND, TOO MUCH CASH EARNING 1.O3% YIELD
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Motion_2002-09-03 Messenger, Reed 2nd That a position of Investment co-coordinator be created and that Gus Gosselin be appointed as the coordinator effectively immediately. Passed: 7- 0 -
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Harvey Reed presented information on a policy that he has researched. Stephen Dann’s insurance information was also presented. Harvey proposed that we purchase the policy
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Motion_2002-09-04 Reed, Dann 2nd That the proposal from Zurich Insurance via Fair & Yeager Insurance Agency Inc presented be approved and that the treasurer issue a check of 25% as a deposit to activate the policy. Passed: 11- 0
- 1 |
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Motion_2002-09-05 Eldridge, Frymer 2nd That Maca contribute $300 from the Living Memorial Chess Fund to be put towards the expenses of Max Enkin participating in an international youth chess tournament and that he is expected to provide an article related to the event for Chess Horizons. Passed: 10 - 0
- 0 |
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Motion_2002-09-06 Frymer, Kaprielian 2nd That the Grand Prix prize fund breakdown be changed to the following: $225 – 175 – 125 – 100 – 75 – for a total of $700 Passed: 7 - 0
- 2 |
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Motion_2002-09-07 Reed, Messenger 2nd That meetings be held on the third Thursdays for the remainder of the term. Passed: 7 - 1
- 0 |
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Motion_2002-09-08 Messenger, Frymer 2nd To Adjourn Passed: 9 - 0
- 0 |