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MINUTES OF MACA BOARD MEETING – 4/14/2013
President R. King called the April Board Meeting to order at 6:10 PM at the Papa Gino’s in Natick. Eight people were in attendance: President Robert King, Treasurer Robert Messenger, Clerk Nicholas Sterling (departed 8:02 PM), and Directors Richard Kinne, Nathan Smolensky, Stephen Dann, Walter Driscoll, and Marc Turgeon. The Minutes were taken by Clerk N. Sterling with the assistance of Assistant Clerk R. Kinne after N. Sterling’s departure.
Minutes of the March Board Meeting were distributed by N. Sterling; corrections from
R. Messenger and R. King had already been included. * * MOTION made by
R. Messenger and seconded by M. Turgeon to approve the March Board Meeting Minutes; with 5 votes in favor vs. 3 abstentions, the MOTION passed. * *
President: R. King reported: (a) There is a new Chess Club in Marshfield. (b) (i) R. King still recommends Scottrade as the right stock broker for MACA to invest in; he has got hold of the forms needed for joining the firm. MACA needs to join Scottrade if it wants to use its website for equity research. The forms, when completed, will reflect that MACA is a 501-3c incorporated organization with a federal tax ID #. (ii) There are no trades to recommend at this time. R. King has a strong interest in municipal funds, which, though relatively safe, have to be examined with care since the bankruptcy of the underlying municipality can wipe out a fund’s redemption value.
Treasurer’s report was read by R. Messenger:
(a) (i) (1) Net income of the General Fund this period as of 3/31/13: $1039.86. (2) Net income of the General Fund year-to-date as of 3/31/13: $2428.62. (ii) (1) Special Fund income this period as of 3/31/13: $291.16, with $134.12 dividends. (2) Year-to-date Special Fund income: $920.61, with $441.40 dividends. (iii) (1) Special Fund expenses this period: $51.16. (2) Year-to-date Special Fund expenses: $4291.46. (iv) (1) Special Fund net income this period: $240.00. (2) Year-to-date Special Fund net income: $3370.85 net loss. (v) (i) March 2013 Changes in Fund Balances: $1279.86. (ii) Year-to-date Changes in Fund Balances: $942.23 net loss. (vi) Total Assets as of March 2013: $63407.58. (vii) Reserve for Chess Horizons Expenses: $8400.00
(b) M. Turgeon raised the question of whether whether MACA should open a brokerage or investment account at Citizens Bank. R. Messenger said that such an action would require a request or authorization by the Board.
(c) Lingering questions remain over what is to be done with the Reserve for the unpublished Chess Horizons magazines, as well as what is to be done with Members’ dues that were meant to pay for receiving printed CH issues. There was discussion about whether or not to extend Membership term lengths, or to refund the excess dues; and whether to eliminate the Reserve once the next CH issue is published.
(d) (i) * * MOTION (413-1a) made by R. Messenger and seconded by R. Kinne to authorize the Membership Secretary to extend Membership Expiration Dates for Subscribers and Members receiving Chess Horizons, so that they receive 4 issues of CH per year of dues.” It was explained that the Membership Secretary would have to work out for each Member the individual extensions and new Expiration Dates, and the Treasurer would remove the Reserve from the Budget once the next issue was published. (ii) * * AMENDMENT (413-1b) made by S. Dann and seconded by W. Driscoll to add the words “to be implemented by 7/1/13” to the end of the Original MOTION’s text. The VOTE was taken; with 3 votes in favor versus 5 against, the AMENDMENT was defeated. * * (iv) The VOTE was taken on the Original MOTION; with 7 votes in favor versus 1 against, the MOTION passed. * *
Membership: R. Messenger read the 4/13/13 Membership numbers as follows: Adults: 196 (+3); Junior 393 (-33); Life 214 (=); Affiliate 3 (=); Complimentary 1 (=);
D. Library 5 (-1); D. Subscriber 17 (-1); Exchange 16 (=); Prison 272 (=); Subscriber 10 (=). Total change in Membership and Subscribers: -32.
Tournament: (a) R. Messenger reported: (i) He has to confirm with G. Mirijanian whether the hotel in Leominster would charge the same rental that they charged us last year. The Marlboro site is less suitable for the NE Open because the tournament would have to be held in three separate sections of the main ballroom, as the extra small rooms usually available won’t be that weekend, and there wouldn’t be a place to hold Scholastic Sections. (ii) The Greater Boston Open site also has to be decided upon between Marlboro and Braintree; we would have to wait until after 5/11/13 to know the quality of the Braintree site (R. King).
(b) N. Sterling reported that the NESA April G/30 on 4/6/13, which had both adults and kids playing, was a successful event with 21 entries.
Scholastic: (a) R. Messenger reported: (i) The Hurvitz Cup Team Championship (the final Scholastics event) will be held on 4/28/13 in Boxboro. (ii) The match between Carissa Yip and Michelle Chen will be held at the MA G/60. (iii) In response to a question from M. Turgeon, it was confirmed that the Scholastic calendar for 2013-2014 is settled in June once the new Committee is chosen.
(b) N. Sterling reported that the NESA Scholastic Team had its first Team Meeting on 4/13/13, and has currently 5 Members, with more likely to follow.
Publications: D. Kinne reported that, as new Editor of CH, he considers the Reserve fund overfunded and the extension of Memberships a sound move. He is committed to getting four issues of CH published in timely fashion within the year. The issues should include an Editorials section and a Club News and Directory section. D. Kinne considers the Editor to report directly to the Board and not the Publications Committee, and that he will take responsibility for his own staff, including Max Sewell who will continue as Layour Editor and N. Smolensky who will assist in analyzing games. Multiple formats, including both text and PGN, will be accepted for article and game score copy. The budgeted amount is $2325/issue in addition to the Reserve already set aside. Any e-mail changes for Editor and Publications will be coordinated with Tiffany.
Election: (i) G. Mirijanian reported that he will soon be creating the ballots for them to be mailed out by around 5/1/13. Once voters have completed them, they will be mailed to W. Driscoll to bring to the MA Open for counting. (ii) MA Open flyers will be included in the Election mail-out. (iii) Candidate statements will be solicited again to make sure that MACA has collected all necessary ones, including from the Candidates for Vice-President.
* * MOTION (413-2) made by R. King and seconded by S. Dann to join the online brokerage company Scottrade. The VOTE was taken; with 2 votes in favor versus 4 against and 1 abstention, the MOTION was defeated. * *
President R. King adjourned the April Board Meeting at 9:13 PM. The date, time, and place of the Annual Board Meeting are Monday 5/27/13, at 9:00 AM, at the Best Western Royal Plaza Hotel in Marlboro, site of the 82st Massachusetts Open. The date, time, and place of the June Board Meeting are Sunday 6/9/13, 6:00 PM, at the Papa Gino’s in Natick. [Clerk’s Note: Originally MACA voted to hold the Meeting on 6/16/13, but the decision was later made to change the date to 6/9/13 to avoid a conflict with the NH Open.]
Respectfully submitted,
Nicholas Sterling, Clerk
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