Theta Elders Association, Inc.
Annual Corporation Meeting Agenda
September 12, 2010     

The meeting was called to order at 3:30 PM by President Doug Donaldson.

Roll Call by Ron Niederwerfer.

• Secretary called the role by passing a sign in sheet.

• Directors in attendance: Doug  Donaldson, Chris Heacox, Bob Kravecs, Ron Niederwerfer, Michael Joyce, Tim Vellrath, Tom Stevens and Don Burr.

• Voting Members in attendance: Bob Kelley, Shelly Katz, Jeff Davis, John Pappanikou and Steve Rogers.

• There were no Non-voting members present were:  recent grads who pay their dues become voting members after the time lag in the by-laws).

Declaration of a Quorum by Doug Donaldson.

• President Donaldson reviewed the role call and declared that a quorum was present.

Opening Ode

• All the Brothers joined in a spirited rendition of our gathering song.

Appointment of Parliamentarian.

• President Donaldson appointed Bob Kelley to serve as Parliamentarian.

Approval of Minutes from the last annual meeting.

• The minutes of the 2009 annual meeting were approved with the Motion to accept by Brother Bob Kravecs; Second by Brother Tom Stevens; Carried.

President's report: 

• President Donaldson thanked the Directors and Officers for their service again during the past year.  He singled out Brothers Burr and Niederwerfer for their long term service.

Secretary's report:

• Brother Ron Niederwerfer chose not to submit a report.

Treasurer's report:

• Brother Don Burr's written report was distributed:

  • General Checking Account                                $ 3,102    (3,602 in 2009)

  • Certificates of Deposit                                        $64,551   (was 63,194 in 2009)       

  • Fidelity Investment Account                             $45,009   (was 43,085 in 2009)

• There are three certificates of deposit with rotating maturity dates approximately every four months.  Interest rates range from 1.34% to 2.1%.  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 Tim Vellrath 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.

• Steve Rogers was asked to report on the recent changes to Mansfield’s zoning regulations.  He reported that the town just passed a reduction from 4 to 3 ij the number of non-related people who may share a residence.  The town also passed draconian parking regulations that will significantly rachet up the number of parking violations in town.  (all spaces must be paved and marked)

• Discussion of University Housing ensued.  It was decided that the Active Chapter does not support an attempt to secure a University facility in Husky Village in spite of TEA’s recommendation to pursue this course.  SAE and AGR are successful off campus.  We should look into their housing situation.  Perhaps we can model it.

• 5 Zetes live in the current leased house (known as “Puke House” because of the unfortunate color it is painted.

• Brother Bob Kravecs moves acceptance of the report.  Brother Michael Joyce seconded.  Carried.

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.

• Brother Michael Joyce will post the “Theta is 50” photos as soon as he receives them.

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.  His firm kept our asset allocation 60% in money market funds.

Active Chapter Update:  

• There were no undergraduates in attendance.

• House is in great shape

• The Chapter's major goal, clearing their debt to the Grand Chapter, was accomplished with hep from the Theta Fund at Zeta Psi Headquarters.  The Chapter paid over $6,000 and the Fund paid an additional $4,000 to clear the books.

• The new Phi is Tim Gaydosh.

Theta Chapter Active Scholarship Grant:  

• Brother Ron Niederwerfer moved that we allocate $1,500 for scholarship grants for 2010-2011with the application deadline of December 31st, 2010.  Brother Michael Joyce seconded.  The motion carried.

Theta Fund at International Headquarters: 

• A restricted fund has been established at the Grand Chapter.  Brothers who make gifts to the International Fraternity may wish to earmark their gifts to the Theta Fund.  Brother Doug Donaldson reminded the Brothers that this was not a tax deductible donation if it is made to the Fraternity.  Gifts to the Educational Foundation are tax deductible but they can not be used for non-educational expenses.

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 the “Theta is Fifty” celebration.  The entire weekend came within $200 of breaking even and a great time was had by all who attended.  It was noted that several expenses would not be needed at the next event; specifically the band, and many of the printed favors (cigar bands, glassware).  The bus trip to the old Chapter Houses was well received but the highlight was the banquet at Alumni House.

NEW BUSINESS

Approval of Actions Taken by TEA Board since last meeting: 

• Brother Don Burr made a motion to approve all of the actions taken by the Officers and Directors since the last annual meeting. Brother Bob Kravecs seconded and the motion carried.

Report from the New Orleans Convention: 

• Brother Doug Donaldson reported that Brother Don Burr received the Gold Circle Award for 50 years of service to the Theta Chapter.

• The next convention will be in New York.

Summer Picnic: 

• Brother Steve Rogers offered to host the next Summer Picnic at his home.  Final decision was given to the incoming Board of Directors.

Election of Directors: 

• The following Brothers were elected as directors:  Tom Stevens, Don Burr, Ron Niederwerfer, Doug Donaldson, Chris Heacox, Bob Kravecs, Tim Vellrath, Tristan Laurie, Michael Joyce, Bob Kelley, Shelly Katz, Jeff Davis, John Pappanikou and Steve Rogers.

• The Brothers elected as directors select the officers and those not elected as officers serve as the directors.

HA Plaque:

• Brother Chris Heacox was nominated and elected unanimously for inappropriate behavior.

Good and welfare:

• The gavel was not passed because the President failed to bring it.  A salad serving spoon was deemed an appropriate substitute.  All Brothers present expressed their pride in being Zetes and part of the Theta Chapter .

Closing Ode and Adjournment

• The meeting was adjourned at 4:15 PM with the signing of the “Farewell Ode.”

Respectfully submitted in Tau Kappa Phi,  

Ron Niederwerfer

Secretary

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