2008 January 01 SEDS-USA Exec Transcript

From SEDSWiki

SEDS-USA Executive Board Meeting, January 1, 2008
Time: 9:00pm EST
Location: AOL Instant Messenger
Attendance: Joshua Sosa, James Welch, Joshua Nelson, Kelly Mann, HaoQi Li, Ryan McLinko, Darrell Cain, Ryan Goodnight
[20:57] *** evilmonkeynorm has joined the chat.
[20:57] *** RolandBolser has joined the chat.
[20:57] RolandBolser: happy new year!
[20:58] Jedi8798: Same to you
[20:58] RolandBolser: I'm very glad we have these
meetings late in the evening
[20:58] KellyMann10: Yeah, 2008 :-)
[20:59] Jedi8798: Just wait a few minutes for any
stragglers
[21:01] *** hydrogenlithium has been invited to the
group chat.
[21:01] *** hydrogenlithium has been invited to the
group chat.
[21:01] *** hydrogenlithium has joined the chat.
[21:02] hydrogenlithium: test
[21:02] Jedi8798: Anyone know about Darrell, Brian, or
Goodnight?
[21:02] rmmlg08: darrell is online
[21:02] Jedi8798: I hear you HaoQi
[21:02] rmmlg08: it just doesn't show
[21:02] rmmlg08: (is very strange)
[21:02] *** Joc75 has been invited to the group chat.
[21:03] rmmlg08: (ie I'm talking to him, but it has
the offline symbol of the im window and he doesn't
show up in my buddy list)
[21:03] Jedi8798: yeah same
[21:03] rmmlg08: ah, there we go
[21:03] *** DarrellDCain has been invited to the group
chat.
[21:03] Jedi8798: yeah slapped him
[21:03] *** Joc75 has joined the chat.
[21:03] Jedi8798: it was rejecting my invites since he
was invisible
[21:04] *** DarrellDCain has joined the chat.
[21:04] *** Joc75 has left the chat.
[21:04] Jedi8798: yo
[21:04] DarrellDCain: hello
[21:04] KellyMann10: Hi
[21:04] Jedi8798: Anyone know bout Brian Young or Ryan
Goodnight?
[21:04] Jedi8798: Or did Texas cecede from the Union?
[21:04] DarrellDCain: if they have it's been in the
last week
[21:05] rmmlg08: tx was unprepared for the new year
[21:05] Jedi8798: o?
[21:05] rmmlg08: ...
[21:06] Jedi8798: Ok
[21:06] Jedi8798: well we have quorum, so lets go
[21:06] Jedi8798: First item, updates.
[21:06] Jedi8798: Lets start with... HaoQi
[21:06] Jedi8798: want to update the rest of the board
about whats been going on lately?
[21:07] hydrogenlithium: ok
[21:08] hydrogenlithium: So we have been talking about
reforming how to join seds
[21:08] hydrogenlithium: to make the process simpler
[21:08] hydrogenlithium: I have it as a google doc
[21:08] hydrogenlithium: of what the new chapters need
to do and what they need to send us
[21:09] Jedi8798: could you invite us all to the
google doc as viewers?
[21:09] hydrogenlithium: Jake is going to have an
updated version of the initiation form ready
[21:09] hydrogenlithium: but I don't know your gmail
addresses
[21:09] hydrogenlithium: Josh can you send it to meL
[21:09] Jedi8798: k
[21:09] Jedi8798: (I'll shut up an listen to my own
rules ;-) )
[21:09] hydrogenlithium: oh
[21:10] hydrogenlithium: and we have 4 new interested
chapters
[21:10] hydrogenlithium: so once we get that new form
done
[21:10] RolandBolser: there's one done
[21:10] hydrogenlithium: which one
[21:10] RolandBolser: I've been working on the new one
[21:11] rmmlg08: what's its eta
[21:11] RolandBolser: but the program I use does a
weird branding thing on the project
[21:11] RolandBolser: it's here, I'll send it out
[21:11] RolandBolser: I didn't know if there were
other things people wanted on it tho
[21:11] RolandBolser: there's like
[21:12] RolandBolser: half a page left of blank space
so if we want more information we can add it
[21:12] hydrogenlithium: can we talk about it now?
[21:12] hydrogenlithium: after we get itL
[21:12] RolandBolser: sure
[21:12] RolandBolser: jsut a sec
[21:13] RolandBolser: anything?
[21:14] KellyMann10: not for me
[21:15] hydrogenlithium: me neither
[21:15] rmmlg08: we can get back to this once it has a
chance to get through
[21:15] hydrogenlithium: good idea
[21:15] Jedi8798: yeah
[21:16] Jedi8798: ok anything else HaoQi?
[21:16] hydrogenlithium: nothing except .... keep
looking for schools!!!
[21:16] Jedi8798: Ok
[21:16] Jedi8798: Ryan you ready?
[21:16] rmmlg08: yes
[21:17] rmmlg08: so first of all
[21:17] rmmlg08: I've gone through and updated the
conference list
[21:17] rmmlg08: which is updated on josh's new page,
which will be ported over shortly
[21:18] rmmlg08: so I'm ready to begin organizing
people on that front
[21:18] rmmlg08: second
[21:18] rmmlg08: have been working with josh reviewing
the new page and I think the new one looks great
[21:18] rmmlg08: but we'll get to that when he goes
[21:18] rmmlg08: third
[21:18] rmmlg08: the endowment fund
[21:19] rmmlg08: I've managed to divvy up the various
tasks for it
[21:19] rmmlg08: and people have their tasks
[21:19] rmmlg08: we're going to get a first version of
a number of the docs by next week
[21:20] rmmlg08: so we can review those then with the
rest of you who aren't working with me on it
[21:20] rmmlg08: for more information
[21:20] rmmlg08: I have set up a wiki page
http://wiki.seds.org/index.php?title=Endowment_Fund_Planning
[21:20] rmmlg08: [that is all from me; questions?]
[21:20] Jedi8798: If not, Darrell you ready?
[21:21] DarrellDCain: sure
[21:21] *** AeroAggie84 has joined the chat.
[21:21] DarrellDCain: I'm in the process of writing
formal rules for the running of SEDS COC
[21:22] DarrellDCain: and the chapter representative
duties
[21:22] DarrellDCain: I have also sent a letter to
every chapter asking for a representative
[21:22] DarrellDCain: with a deadline of Jan. 18th for
appointing a representative
[21:23] DarrellDCain: I have received four contacts so
far, with two official representatives
[21:23] DarrellDCain: I will be working in the next
week to get positive contact with as many chapters as
possible
[21:24] DarrellDCain: I will post the chapter
representative rules in the next week
[21:24] DarrellDCain: and invite comment from the exec
board
[21:24] DarrellDCain: I need three things from the
executive board
[21:25] DarrellDCain: 1. Meetings are going to be held
once a month. The first meeting will be Jan. 28, 29
or 30th ( I will attempt to steer away from the 29th)
[21:26] DarrellDCain: at each meeting I need an
official representative from the executive board
[21:26] DarrellDCain: all meetings will be determined
before the first meeting
[21:26] DarrellDCain: so that's something to keep in
mind as we get closer to the first meeting
[21:26] Jedi8798: I'll volunteer for the first meeting
[21:26] DarrellDCain: I prefer that the official
representative be different each time
[21:26] DarrellDCain: alright
[21:27] DarrellDCain: the job of the official
representative is to present issues that have been put
on the agenda by the executive board
[21:27] DarrellDCain: 2. I'm trying to contact every
chapter to get a representative
[21:27] DarrellDCain: many of you have informal
contacts within both your own chapters and within
other chapters
[21:28] DarrellDCain: please ask them about their
chapter reps
[21:28] DarrellDCain: I'm starting with emails from
the website, but the more people in each chapter know
of chapter reps the more likely I will have one
earlier rather than later
[21:29] DarrellDCain: 3. this is the one with the most
input
[21:29] DarrellDCain: I need input on powers of COC
[21:30] DarrellDCain: right now I have defined it to
have the power to make recommendations to the
executive board, propose resolutions to outside
organizations and issue committees that will prepare
formal reports
[21:30] Jedi8798: CoC has ultimate power
[21:30] Jedi8798: see current constitution
[21:30] DarrellDCain: recommendations are a weak way
of saying "COC wants to do this" to Executive board
[21:30] DarrellDCain: instead of saying "Executive
board will do this"
[21:31] DarrellDCain: then I imagine this conversation
will continue later in this meeting?
[21:31] DarrellDCain: when we review the constitution?
[21:31] Jedi8798: probably
[21:31] DarrellDCain: alright
[21:31] Jedi8798: can revise how we suggest wording it
[21:31] DarrellDCain: I was saving resolutions for the
really powerful stuff
[21:31] DarrellDCain: i.e. resolutions are offered
only rarely, and when they are it's because COC is
displeased with the executive board
[21:32] DarrellDCain: those can go to both executive
board and whoever else they want it to go to
[21:32] DarrellDCain: should we also add the power to
kick a member of executive board?
[21:32] DarrellDCain: only if backed by both COC and a
certain number of executive board members
[21:32] Jedi8798: these again are all things we'll
discuss during Constitution
[21:33] DarrellDCain: alright
[21:33] DarrellDCain: then I am almost finished
[21:33] DarrellDCain: wait...the last item involves
endowment fund setup and can be handled with those
specifically working on endowment fund ...if those
people are willing to wait after the meeting?
[21:34] KellyMann10: sure
[21:34] RolandBolser: sure
[21:34] Jedi8798: *nods*
[21:34] AeroAggie84: np
[21:34] DarrellDCain: alright
[21:34] DarrellDCain: then I give up the floor
[21:34] Jedi8798: k, Ryan Goodnight, any update?
[21:35] AeroAggie84: ok sorry
[21:35] AeroAggie84: yeah actually...last time we met
we talked about setting up
[21:35] AeroAggie84: a new finance workbook so that we
could keep track of all
[21:36] AeroAggie84: of the monitary expenditures of
the organization
[21:36] AeroAggie84: i decided to go with Quickbooks
for ease of use and for its vast capabilities (far
beyond what we will need for the most part)
[21:37] AeroAggie84: although I know the program and
have it set up to start over starting today the first,
i am travelling up to Dallas this weekend to get some
detailed training on the program
[21:38] AeroAggie84: I had a phone conversation with
John Evans this past week and he is currently away
from school; however, I finally got him to agree to
send me everything that he has from last year as soon
as he gets home
[21:39] AeroAggie84: Once i recieve this information I
can start taking care of some of the more detailed
tasks required of me, like the monthly reports and
most importantly getting the 501c3 status...which on
that note
[21:40] AeroAggie84: i was told has not even been
filed...so this has to be worked on more than I
orginally thought
[21:41] Jedi8798: Who said that it has not been filed?
[21:41] AeroAggie84: John Evans
[21:42] AeroAggie84: he said that he would send me the
information about its current status as soon as he
gets back...but the way he made it sound...no progress
has been made on it
[21:43] Jedi8798: Did he say when he would be back?
[21:43] AeroAggie84: so i will evaluate what has
actually been done and then decide if I should start
from there of just start over..
[21:43] AeroAggie84: he told me that it would be about
the 7th...+/- a few days
[21:44] Jedi8798: Ryan Mclinko, do you know what has
actually been submitted or returned?
[21:44] Jedi8798: since youw ere handling some of that
mail?
[21:44] rmmlg08: I have't submitted anything
physically recently
[21:44] Jedi8798: because it sounds like instead of
losing an additional week to two weeks on this, we
might as well start over
[21:44] rmmlg08: a while ago
[21:44] rmmlg08: I had submitted a letter of good
standing or something like that
[21:45] rmmlg08: but that was the last physical thing
I had submitted
[21:45] rmmlg08: and then received something and
forwarded to john
[21:45] rmmlg08: (though I don't remember what that
was spec)
[21:46] Jedi8798: How long do you think it would take
you to do the paperwork and submit it Goodnight?
[21:46] Jedi8798: aka: could you get it done before
vacation is over, and before John eventually gets
around to sending it to you in a semi complete state?
[21:47] AeroAggie84: well i have been reading up on
eligibility and the process...and i think the
complications are going to come into play with the
fact that alot of the papers have to be signed by a
resident of the state where SEDS is located...i.e.
[21:47] AeroAggie84: not in Texas...i believe its in
MA
[21:47] AeroAggie84: thats correct right Ryan M?
[21:47] rmmlg08: well, that can be arranged
[21:47] rmmlg08: fax
[21:48] rmmlg08: or scan
[21:48] Jedi8798: do you both have fax machines or
scanners accessible during vacation?
[21:48] rmmlg08: from my end, I will have access to a
fax and scanner starting fri
[21:48] AeroAggie84: i have a scanner
[21:49] rmmlg08: ok, so you can scan
[21:49] rmmlg08: I can sign w/tablet
[21:49] rmmlg08: and send back to you
[21:49] Jedi8798: k
[21:49] Jedi8798: Anything further Ryan G?
[21:50] AeroAggie84: but just a heads up...John said
that this process takes "a long time" something about
at each step of the paperwork submission is not going
to depend on our schedule but the governments...so let
me look into it some
[21:50] AeroAggie84: more and I will send everything
that I can to Ryan M as soon as I get it completed
[21:50] Jedi8798: k
[21:50] AeroAggie84: thats about it I guess
[21:51] Jedi8798: any further updates from the
remaining departments?
[21:51] AeroAggie84: ohhh and Bryan Yound apologized
for not being here...he is on his way back from home
[21:51] AeroAggie84: Young*
[21:52] KellyMann10: I have a few updates
[21:52] evilmonkeynorm: same
[21:52] Jedi8798: Go ahead Kelly
[21:52] KellyMann10: alright
[21:52] KellyMann10: Darrell and I have been in touch
with Monta Vista High School
[21:53] KellyMann10: they do have a physics and
astronomy club and have been pretty active
[21:53] KellyMann10: but i dont know if they are
still a SEDS chapter, but i assume that they are
[21:54] KellyMann10: Also I have a high school
student from Korea who would like to stay somewhere in
the US for half a year
[21:54] KellyMann10: He is really interested in
astronomy
[21:54] KellyMann10: and the agency suporting him
said that they would prefer if he could go to a school
in Florida
[21:55] KellyMann10: but he could actually go
anywhere in the US
[21:55] KellyMann10: so if you know of a family who
would be interested in hosting him, tell me :-)
[21:56] Jedi8798: Anything else? Or any questions for
Kelly?
[21:56] KellyMann10: im done
[21:57] Jedi8798: k, Josh Sosa?
[21:57] evilmonkeynorm: made a bunch of little updates
to the site, including getting better seds logo images
[21:58] evilmonkeynorm: style changing is an option
now, so I put a white template up that was suggested
from the forum
[21:59] evilmonkeynorm: and ryan's been helping to
improve the content overall
[22:00] evilmonkeynorm: I want to open site management
up more so individual officers can change what content
relates to them
[22:01] Jedi8798: Anything else Josh? Or any questions
for Mr Sosa?
[22:01] evilmonkeynorm: that's about it
[22:02] rmmlg08: what's your target for moving to
seds.org
[22:02] rmmlg08: (from sys)
[22:03] evilmonkeynorm: I can do that whenever the
board feels it's ready, there is little left to do
[22:03] Jedi8798: how long till you will be done with
that last bit?
[22:03] rmmlg08: would a final review before moving
for next board meeting sound reasonable
[22:04] evilmonkeynorm: I wont be able to attend next
Tuesday as I'll be out of town unfortunately
[22:04] Jedi8798: Since we already approved the site
for implementation
[22:05] Jedi8798: I dont think there are any problems
throwing it up as you have it
[22:05] rmmlg08: I'm happy with it at this state as
well
[22:05] Jedi8798: Any opposition to Josh throwing it
up at his earliest convience (or when he feels
comfortable)?
[22:05] RolandBolser: where's the preview?
[22:05] evilmonkeynorm: http://new.seds.org/sys
[22:06] RolandBolser: nope
[22:06] Jedi8798: In that case, if no one else has
anything to say against it, Go ahead and put it up
Josh
[22:06] evilmonkeynorm: will do
[22:07] Jedi8798: Are people willing to stay another
hour or so to discuss the constitution? Or would it be
better to call a special 2 hour meeting tommorow to
discuss it in depth?
[22:07] RolandBolser: uh
[22:08] rmmlg08: also, did we want to go over the
chapter reg form quickly?
[22:08] RolandBolser: yeah
[22:08] RolandBolser: mind if Ijump ahead for a sec?
[22:08] Jedi8798: Go ahead Jake
[22:09] RolandBolser: okay, has everyone seen the form
now?
[22:09] RolandBolser: and if so, any
problems/suggestions/additions?
[22:09] KellyMann10: i havent
[22:09] rmmlg08: I have 2 recs:1.) include email
(expansion@seds.org) on the top of the form2.) add
fields for phone #s
[22:12] RolandBolser: there's off screen action, just
a second folks
[22:12] Jedi8798: Ummm it says Name of President
[22:12] Jedi8798: And Presidents Name
[22:12] RolandBolser: ahha
[22:13] Jedi8798: Do we need both?
[22:13] Jedi8798: ;-)
[22:13] RolandBolser: this is why we have peer review
[22:13] rmmlg08: oh, 1 should be email
[22:13] Jedi8798: and University contact? What is this
supposed to be?
[22:14] rmmlg08: that would be this person who can
vouch for them being a school recognized club, rite?
[22:14] RolandBolser: yes
[22:14] KellyMann10: The only thing i see is instead
of having University, have High School / University or
just School
[22:14] Jedi8798: probably need to add in an email or
phone number for them
[22:14] KellyMann10: but its nothing critical
[22:15] Jedi8798: Good point Kelly
[22:15] KellyMann10: representing high schools here
:-)
[22:15] Jedi8798: Also, we need the contact
information for their Chapter Rep for Darrell
[22:15] RolandBolser: so chagne to school
[22:15] RolandBolser: second page
[22:15] Jedi8798: I only got one page
[22:16] rmmlg08: i got 2
[22:16] Jedi8798: let me redownload it...
[22:16] DarrellDCain: we could have that
[22:16] Jedi8798: there, worked
[22:16] DarrellDCain: I was just going to contact the
chapter once the form arrived
[22:16] RolandBolser: k
[22:17] DarrellDCain: I figured it would be easier to
explain by email rather than have a section on the
form
[22:17] RolandBolser: also, if someone has an editor
other than foxit
[22:17] Jedi8798: If we're asking for the School
contact name, should ask for the phone and email too
for that person
[22:17] RolandBolser: and could delete the water mark,
that would be great at the end
[22:17] rmmlg08: yeah, should add phones to all of
those really
[22:17] RolandBolser: yep
[22:17] Jedi8798: We might just need to have a FAQ
section
[22:18] RolandBolser: any other questions we want to
ask?
[22:18] Jedi8798: either attached to the registration
packet
[22:18] Jedi8798: or on the webpage
[22:18] Jedi8798: to explain common questions about
the form
[22:18] Jedi8798: because we really do need the
information :-)
[22:18] Jedi8798: and getting it from them later is
like pulling teeth
[22:19] RolandBolser: k, I can try to type one up and
submit it by the next meeting
[22:19] Jedi8798: Sounds good, any more input for
Jake?
[22:21] Jedi8798: Ok, So ready check, is everyone
willing to stay for another hour or two to discuss
constitution? Or put it off till tommorow (same time)?
(Answer Now, Tommorow, Neither)
[22:21] *** hydrogenlithium has left the chat.
[22:22] AeroAggie84: haha i guess thats one answer
[22:22] Jedi8798: HaoQi just messaged me she needs to
go to another meeting
[22:22] RolandBolser: I like HaoQi's respons
[22:22] Jedi8798: she is voting yes for tommorow
[22:22] rmmlg08: whichever
[22:22] AeroAggie84: doesn't really matter here
[22:22] KellyMann10: tommorow for me
[22:22] RolandBolser: Tomorrow gives us time to look
over the document some more and not overdo it tonight
[22:22] DarrellDCain: now
[22:22] DarrellDCain: very true
[22:22] Jedi8798: ok
[22:23] evilmonkeynorm: tomorrow
[22:23] DarrellDCain: I would vote for tomorrow except
for a conflict
[22:23] Jedi8798: since Darrell cannot make it
tommorow at all
[22:23] RolandBolser: don't we still need to talk
about stuff with you darrel?
[22:23] DarrellDCain: yep
[22:23] Jedi8798: Darrell, could you email us your
opinion on the CoC section?
[22:23] DarrellDCain: but.I'll look over the document
and send recommendations
[22:23] Jedi8798: yeah
[22:23] DarrellDCain: /opinions
[22:23] Jedi8798: and we'll discuss it tommorow
[22:23] Jedi8798: then peruse it again once more next
Tuesday
[22:24] DarrellDCain: alright
[22:24] DarrellDCain: please remember to stay after
the meeting if you're with endowment
[22:24] Jedi8798: Any further items of business for
the meeting then?
[22:24] Jedi8798: If not, then meeting is adjourned.
Transcript will continue until the endowment meeting
is over
[22:25] Jedi8798: Thanks for coming, if you can, make
it tommorow
[22:25] Jedi8798: at 9 PM for Constitution meeting
[22:25] Jedi8798: Here's..... Darrell
[22:25] DarrellDCain: thanks
[22:25] DarrellDCain: alright..did everyone read the
email I sent out about a week ago?
[22:25] AeroAggie84: yeah
[22:26] DarrellDCain: thoughts?
[22:26] rmmlg08: sounds like a good way to go
[22:26] RolandBolser: so, darrell, you wanted to say
something or...?
[22:27] DarrellDCain: huh?
[22:27] RolandBolser: wow
[22:27] RolandBolser: nvrmnd
[22:27] rmmlg08: ...
[22:27] DarrellDCain: I need to know if this is the
direction we want to go in
[22:27] DarrellDCain: in that case I will give Ryan a
step by step breakdown of how to do it
[22:27] rmmlg08: sounds good
[22:27] AeroAggie84: one question...
[22:27] DarrellDCain: theoretically it will also
establish our 501c3 status for us
[22:27] AeroAggie84: and there is my answer
[22:28] DarrellDCain: what would happen is the company
would donate the time to set up a 501c3 for us, then
establish a trust within the 501c3 that would be
regulated by rules written by us
[22:28] rmmlg08: this will still be in some sense 2
diff 501c3 organizations still, tho, rite?
[22:28] rmmlg08: ok, nm
[22:28] DarrellDCain: I was given the impression that
two organizations would be difficult
[22:28] DarrellDCain: they would also donate the time
to file our yearly finances
[22:29] AeroAggie84: hey darrell...when is the
earliest that I could go up to Dallas and meet with
these people?
[22:29] DarrellDCain: rather..the time to file our
report to keep up the 501c3 status
[22:29] DarrellDCain: that's the only constraint here
[22:29] rmmlg08: a trust within the 501c3 should
provide sufficent distance as we discussed at the last
meeting
[22:29] AeroAggie84: it just so happens that I will be
there early next week
[22:29] DarrellDCain: so it's best for them if we
start in February
[22:30] RolandBolser: now for all legal purposes
[22:30] DarrellDCain: since the whole organization is
undergoing it's yearly review this month
[22:30] DarrellDCain: go ahead Jake
[22:30] RolandBolser: what will happen when you leave
[22:30] RolandBolser: in terms of ownership
[22:30] DarrellDCain: right
[22:30] DarrellDCain: okay...to get technical
[22:30] DarrellDCain: we establish the rules for how
the funds are distributed
[22:31] DarrellDCain: this will probably include some
type of board of advisors
[22:31] DarrellDCain: I certainly would be interested
in running for that
[22:31] DarrellDCain: that all said
[22:31] DarrellDCain: I don't care
[22:31] RolandBolser: okay, but what I'm saying is
[22:32] RolandBolser: are we setting this up as ours
or ours for rent from them
[22:32] DarrellDCain: I don't know if my father would
continue to donate time....that's a hard question to
answer. If we can establish a strong track record and
donations then probably...he's actually very pro-space
[22:32] DarrellDCain: right...lol..it's a long
explanation
[22:32] DarrellDCain: once it's set up
[22:32] DarrellDCain: we can move it
[22:32] DarrellDCain: we establish rules for moving it
as well within the governing
[22:32] Jedi8798: So its not like the 501c in which
they bitch when we change home chapters?
[22:32] DarrellDCain: organization
[22:33] RolandBolser: okay, just as long as its not
tied to you being in seds so that if we have another
death of the group kids can revive it
[22:33] rmmlg08: would that be large undertaking
[22:33] rmmlg08: (to move it if needed)
[22:33] DarrellDCain: don't know about the moving of
the organization
[22:33] DarrellDCain: I'd have to ask
[22:34] rmmlg08: ok, would be good to have all
contingnecies laid out
[22:34] DarrellDCain: the trust company would charge 1
percent fee on the money per year...from which we get
financial advice as to where we could put the money
[22:34] DarrellDCain: they would also invest the money
for us
[22:34] DarrellDCain: based upon what we choose
[22:35] DarrellDCain: they would donate the time to
set up the organization
[22:35] RolandBolser: so are we talking about (for
growth of money) secure funding like CODs or like a
mutual fund hwere we try to hedge our bets and lower
our risk?
[22:35] DarrellDCain: and donate on a yearly basis the
refiling of the appropiate documents
[22:35] DarrellDCain: if somehow that donation stops
[22:35] DarrellDCain: it's about 2000 for them to file
[22:35] DarrellDCain: and at any time we can move the
money
[22:35] DarrellDCain: I believe mutual funds
[22:36] AeroAggie84: just as input...being in Dallas
(fairly close to me) and the fact that I have never
gained 501c3 status for an organization, this might be
the best way for us to get this done quickly and
properly with as few hang ups as possible
[22:36] Jedi8798: so will we need to be bringing in a
certain amount per year for them to 'donate'?
[22:36] DarrellDCain: nope
[22:36] DarrellDCain: they don't care how little we
bring in or how much
[22:37] RolandBolser: how long will it take to get it
all set up?
[22:37] RolandBolser: ~
[22:37] DarrellDCain: "no minmum" was the word that
was brought to my attention
[22:37] DarrellDCain: approximately 3 months
[22:37] DarrellDCain: though if we have only a few
thousand dollars we might be limited in where we could
invest
[22:38] DarrellDCain: they manage a large amount of
money so they can wrap our funds into whatever else
they're managing
[22:38] AeroAggie84: but over time as we get more
money we can shift those investments right?
[22:38] DarrellDCain: yep
[22:38] Jedi8798: Did they estimate a return?
[22:38] Jedi8798: And how would this affect the amount
we'd get per year?
[22:38] DarrellDCain: by the rules established by the
trust
[22:38] Jedi8798: anything outside of the 1%
[22:38] DarrellDCain: the 1 percent is so we can use a
financial advisor
[22:39] DarrellDCain: who would recommend options
[22:39] Jedi8798: and that financial advisor is your
dad?
[22:39] DarrellDCain: the company has averaged 13-14
percent
[22:39] DarrellDCain: though it can be lower or higher
depending on the market
[22:39] DarrellDCain: typically they go with 10
percent
[22:39] DarrellDCain: I don't think so
[22:39] DarrellDCain: it'll probably be someone else
within the company
[22:39] DarrellDCain: my father is the president of
the company
[22:39] Jedi8798: k, do me a favor and if we could get
several other quotes?
[22:40] Jedi8798: so we have the conflict of interest
thing covered?
[22:40] DarrellDCain: strangely enough he doesn't own
the company
[22:40] DarrellDCain: hmm..
[22:40] Jedi8798: I'm not sure what our liability
would be
[22:40] DarrellDCain: not sure where to look for that
[22:40] Jedi8798: know what I mean?
[22:40] DarrellDCain: I'll ask him
[22:40] DarrellDCain: yeah
[22:40] rmmlg08: is still a good point
[22:40] Jedi8798: ask him for advice on that
[22:40] DarrellDCain: yep
[22:40] Jedi8798: oh I'm fully for it, sounds like a
great idea and all
[22:40] DarrellDCain: so we're interested?
[22:40] Jedi8798: just dont want to dig our grave
[22:40] DarrellDCain: yep
[22:40] Jedi8798: liability wise
[22:40] AeroAggie84: i agree..
[22:41] DarrellDCain: they set up about 14-15 private
foundations a month
[22:41] DarrellDCain: so I imagine they would know the
answer to that question
[22:42] DarrellDCain: typically the setup would cost
about 6000 in fees
[22:42] AeroAggie84: i honestly like the fact that we
would be steering away from the 2 seperate
501c3s...also this would help us kill two birds with
one stone
[22:42] DarrellDCain: anyways..do we want to take a
vote?
[22:42] rmmlg08: does anyone have objections?
[22:42] rmmlg08: (I haven't heard any)
[22:42] RolandBolser: just one last clarification
[22:42] Jedi8798: well to spend and commit that much
money
[22:42] Jedi8798: we would probably need an exec board
vote
[22:42] Jedi8798: but we have a majority here
[22:43] rmmlg08: before a final decision
[22:43] DarrellDCain: oh..the 6000 is if it wasn't
being donated
[22:43] DarrellDCain: but it is
[22:43] rmmlg08: we should check those things like
what josh mentioned
[22:43] rmmlg08: then we can do an official exec vote
[22:43] DarrellDCain: check liability issues
[22:43] Jedi8798: conflict of interest, etc..
[22:43] DarrellDCain: yep
[22:44] Jedi8798: Could you check on that and get back
to us for a vote by next exec meet?
[22:44] DarrellDCain: which puts us at what point that
ryan g can move on this?
[22:44] DarrellDCain: yep
[22:44] DarrellDCain: I might even be able to get
something by tomorrow via email
[22:44] rmmlg08: cool
[22:45] DarrellDCain: I'm just going into the other
room to ask
[22:45] Jedi8798: cool if you can
[22:45] Jedi8798: we can vote at the meeting tommorow
[22:45] DarrellDCain: anything else?
[22:45] RolandBolser: when we want to spend money for
SEDS the organization, what specific steps do we have
to take to make sure that we are using it and verify
the money
[22:45] AeroAggie84: ok shoot me anything that you
come up with...i will go ahead and make sure I
understand as much about the 501c3 process as I can
and be ready for when my time comes up...
[22:45] AeroAggie84: that depends on the ammount
[22:45] Jedi8798: thats something that needs to be
established better in the constitution
[22:46] Jedi8798: but since this would be 1% of our
incom overall
[22:46] Jedi8798: definetly a exec vote
[22:46] AeroAggie84: yeah...in the constitution is
says the steps
[22:46] AeroAggie84: it does need clarification though
[22:46] DarrellDCain: oh..to clarify
[22:46] Jedi8798: www.seds.org/constitution
[22:47] DarrellDCain: it's 1 percent of the overall
fund
[22:47] DarrellDCain: as for how to get money for SEDS
organization
[22:47] DarrellDCain: we establish that with a set of
written rules
[22:47] DarrellDCain: I would advise adding a set of
rules that allow individual chapters to receive money
as well
[22:48] DarrellDCain: though that's probably only
important if we are required to spend a certain amount
of money per year..which I don't think is required for
a 501c3
[22:48] RolandBolser: k
[22:49] DarrellDCain: the organization can also serve
as the legal advice for the organization in terms of
non-profit expenditures
[22:49] DarrellDCain: the trust company
[22:49] DarrellDCain: alright...then steps are as
follows
[22:49] DarrellDCain: I will give Ryan G. the
necessary information
[22:49] DarrellDCain: then look into conflicts of
interest
[22:50] DarrellDCain: provide the information to the
board
[22:50] DarrellDCain: there will be a vote
[22:50] DarrellDCain: and if the vote goes through
then Ryan proceeds with my information
[22:50] DarrellDCain: anything else?
[22:50] Jedi8798: as for the oversight of the use of
the account, etc...
[22:50] Jedi8798: that will still be for us to set up
[22:50] Jedi8798: using the board of advisors,
correct?
[22:51] DarrellDCain: yep
[22:51] DarrellDCain: we are required to prepare a set
of documents detailing the rules for the trust
[22:51] DarrellDCain: which the trust company will
follow zealously
[22:51] rmmlg08: which is exactly what we need
[22:51] DarrellDCain: which probably means we need to
include the proper procedures for removing the money
from the trust company
[22:51] DarrellDCain: i.e who would say what
[22:52] AeroAggie84: we could do that as a group prior
to establishing the trust
[22:52] AeroAggie84: with the advisors
[22:52] Jedi8798: yeah
[22:52] DarrellDCain: it would be good to have that
document along with a few others prepared before we
meet with the trust company
[22:52] rmmlg08: some of these procs are the htings we
were talkinga bout last time
[22:53] rmmlg08: and will be working on over the next
week in preparation for our next review with advisors
[22:53] DarrellDCain: I'll send the exact list to Ryan
via the finance@seds.org email
[22:53] AeroAggie84: ok that will work
[22:53] DarrellDCain: alright
[22:53] DarrellDCain: I'm done
[22:53] AeroAggie84: ill be looking for it...you are
making my life a lot better here dude...appreciate it
[22:53] DarrellDCain: lol
[22:53] DarrellDCain: hmm..we're still on record here
[22:53] DarrellDCain: alright
[22:54] DarrellDCain: anything else?
[22:54] Jedi8798: Nothing here. Thanks for looking
into this for us
[22:54] Jedi8798: It will be a giant leap forward for
the organization.
[22:55] DarrellDCain: alright
[22:55] DarrellDCain: then we are done
[22:56] Jedi8798: Transcript ended
2007-2008 SEDS-USA Meetings
Exec Board Minutes: