Theta
Elders Association, Inc.
Annual Corporation Meeting Agenda
September 6, 2009
Meeting
was called to order by President Donaldson at 4:00 PM.
Roll Call by
Ron Niederwerfer.
-
Secretary
called the role by passing a sign in sheet.
-
Directors in attendances:
Doug Donaldson, Bob Kravecs, Ron Niederwerfer,
Michael Joyce, Tim Vellrath, Tim Pagnucco, Jeff Marvin,
and Don Burr.
-
Non-voting members present were: Joe Lauria and Wes
Morrison (both recent grads paid their dues and become voting
members after the time lag in the by-laws passes.) There were 22
undergraduate guests at the meeting. Lynn Donaldson and Suzanne
Kelley acted as House Mothers.
Declaration of
a Quorum by Doug Donaldson.
Opening
Ode
Appointment of Parliamentarian.
Approval
of Minutes from the last annual meeting.
President's
report:
Secretary's
report:
Treasurer's
report:
-
Brother Don Burr's written report was distributed:
-
General Checking Account $3,602
-
Certificates of Deposit
$63,194 (was 60,916 in 2008)
-
Fidelity Investment Account $43,085 (was $46,422
in 2008)
-
There are three remaining certificates of deposit
with rotating maturity dates approximately every four months.
Interest rates range from 2.5% to 3.75%. One with Bank of America,
and two with the Savings Institute Bank and Trust. Brother Don Burr
reported that interest rates have dropped significantly and when
these certificates are rolled over we will not be able to renew at
rates even close to those we have now.
-
Brother Bob Kravecs moved acceptance of the report
and Brother Michael Joyce seconded: Carried.
Housing Committee Report:
-
Brother Doug Donaldson reported that the committee
remained in touch with local realtors Brother Peter and his wife
Doryann Plante to research property in the Storrs area. They toured
(virtually or in person) several more properties and decided that we
would need a legal in-law apartment to bring the legal number of
residents up to eight from the four allowed by town zoning in a
single family residence. The problem to date has been that any
property that seems suitable is either too far from campus or is in
too upscale a neighborhood.
-
TEA has commitments from several Elders Brothers but
we are intentionally delaying collection due to the House Bill that
is still active in Congress that may make donations to campus
housing tax deductible.
OLD
BUSINESS
Website Report:
-
Brother Michael Joyce reported that the web page
continues to be visited regularly, We are still looking for a
complete email list so please submit updates whenever your address
changes. He updates the page regularly with new news and photos as
well as reports from the undergraduates. He is still seeking news
and photos with which to refresh the site. He remarked that the lost
Elder list is growing.
Investment
Committee:
-
Timing is everything in life and we invested at the
worst possible time in 2007. However our results have not been as
dismal as most private investors because our investment advisor
Panfillo G. has kept most of our funds in Money Market 's rather
than being fully invested. This has resulted in a 15% drop in our
portfolio when most fully invested portfolios are down more than
40%. The initial balance of $20,000 that was invested in the
Fidelity account has diminished to $12,000. but his firm kept our
asset allocation 60% in money market funds.
-
The Committee met with Panfillo ten days ago and
decided to avoid ETF's at this time and otherwise to continue to
allow the investment advisor to do asset allocation as he deems fit.
Active
Chapter Update:
-
Mike Barnhardt, the undergraduate Phi, delivered an
excellent summary of the Chapter's activities and membership:
-
25 undergraduate members of which 18 are new from
Spring/Fall of 2008
-
House is in great shape
-
Among the Chapter's major goals are: clearing a major
debt to the Grand Chapter by making a payment of $4,500 next week;
their goal is to have 10+ Pledges in the Fall; they have a web page
<Zeta Psi-UConn.com>; they have a philanthropy egg toss on campus
upcoming.
-
Composite photos were discussed. Brother Doug
Donaldson asked for extra personal sized composites to be given to
him for long term storage.
Theta
Chapter Active Scholarship Grant:
Theta
Fund at International Headquarters:
Actives Web Site:
House Fund Raising:
-
In 2007 a plan was discussed to solicit funds from
alumni members to raise $100,000 over five years to supplement the
existing housing funds. Brother Michael Joyce made an informative
presentation and Brother Doug Donaldson was charged to begin the
program. EDITORS NOTE: Subsequent to the initial
meeting in 2007 Brother
Donaldson learned that a vehicle for tax deductible donations was
before the Congress of the United States. Therefore, the
implementation of the campaign was put on hold until the resolution
of that proposal.
50th
Anniversary Committee:
-
Brother Bob Kravecs reported on his contacts with the
Nathan Hale Inn. He booked rooms for our 50th Anniversary
Celebration for the weekend of April 10th. EDITORS NOTE: Subsequent
to this meeting UConn Greek Community decided to host events for a
Greek Reunion on the weekend of June 4-5, 2010 and the Reunion
Committee decided to piggy back on that date to provide a broader
array of events for our membership. Brother Bob Kravecs
changed the room reservation accordingly.
NEW
BUSINESS
Approval
of Actions Taken by TEA Board since last meeting:
Request for Rush and Initiation Participation:
Donation of Funds:
-
Brother Doug Donaldson reported that members of the
Theta Chapter donated funds for the refurbishment of two past Phi
Alpha's photographs in the Grand Chapter archives; William H.
McElroy, Theta Chapter '60 (Union College) Phi Alpha in 1901-1902
and Max Schwerin Theta Chapter '70 (Union College) Phi Alpha in
1883-1884.
Election of Directors:
-
The following Brothers were elected as directors: Tom
Stevens, Don Burr, Ron Niederwerfer, Doug Donaldson, Chris Heacox,
Bob Kravecs, Jeff Marvin, Tim Vellrath, Joe Lauria, Wes Morisson,
Tristan Laurie, Michael Joyce and Tim Pagnucco.
-
The Brothers elected as directors select the officers
and those not elected as officers serve as the directors.
HA
Plaque
Good
and welfare:
Closing
Ode and Adjournment
Respectfully
submitted in Tau Kappa Phi,
Ron Niederwerfer
Secretary
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