FY17 February BOD Meeting Materials

Cantus
Board of Directors Meeting—1201 Marquette Avenue, Suite 100
February 27, 5:30-7:30pm
 
 
Present: Katie Berg, Pete Cochrane, Jim Dorsey, Chris Foss, Jonathan Guyton, Wendy Holmes, Katie Imholte, Patricia Kirkpatrick, Libby Larsen, Brock Metzger, Noel McCormick, Chuck Peterson, Jeff Reed, Karl Reichert
 
Staff: Joe Heitz, Joey Hillesheim, Carly Thornberry
 
Absent: Martha Graber, Craig Shulstad, Paul Scholtz



BOARD AGENDA
5:30 - 7:30pm
 

1. Call to order                                                                                         5:38pm
   1. Wendy Holmes presiding
2. Chris/Wendy/Joe: Romeo and Juliet Update
   1. Summarized recent meetings between staff, singers, and creative partners.
   2. Reported the decision to cancel the Romeo and Juliet project due to financial impact.
   3. Discussed drafting a memo with talking points about the ending of the project.
      1. Staff will create memo.
3. Chris/Wendy/Joe: Music Accord Update
   1. Ed Yim of Music Accord is excited about working with Cantus and has agreed to a new project with Cantus.
4. Chuck: Treasurer’s Report
   1. Reported a significant drop in cash in January.
   2. Reported that accounts payable has dropped/improved.
   3. Reviewed trends for contributed revenue, ticket sales, and inventory sales.
   4. Expect a deficit to appear on February financials.
5. Approve: FY17 990 pending two potential changes.

Motion: Chuck Peterson; 2nd Pete Cochrane; approved.

1. Approve: Charitable Registration Form, pending change to signers. (Board Chair and Treasurer will sign.)

Motion: Chuck Peterson; 2nd Noel McCormick; approved.

1. Accept: FY17 January Financials

Motion: Chuck Peterson; Jonathan Guyton; accepted.

1. Joe: Cash Flow Discussion
   1. Distributed summary of cash flow projection.
   2. Reported significant concerns about cash flow, especially in April and May.
   3. Discussed potential action steps for solving cash flow challenge.
      1. Explained Nonprofits Assistance Fund’s offer of a bridge loan.
2. Approve: Minutes of FY17 January Meeting

Motion: Katie Berg; 2nd Pete Cochrane; approved.

1. Noel/Brock/Carly: Engagement Committee Update
   1. Summarized recent Engagement Committee meeting.
   2. Discussed upcoming donor reception and opportunity to meet Joe on March 18.
   3. Asked directors to host upcoming open rehearsals.
   4. Discussed “America Will Be!” advertising efforts.
   5. Updated board on Idol planning, including a new caterer, ticket on-sale, auction items, and sponsorships.
2. Pete: Governance Committee Update
   1. Summarized recent committee meeting and progress toward bringing in new members.
      1. Committee is targeting members with financial experience and educators.
   2. Asked members to consider potential board members as they consider Idol guests.
3. Chris: Artistic Report
   1. Reported a successful tour, despite having a substitute singer in the ensemble.
4. Joe: Executive Director Report
   1. Described busy first month, including meeting with board members and donors.
   2. Updated board on personnel topics, including CLA’s work and renewal of benefits.
5. Adjourned

Motion: Jeff Reed; 2nd Katie Berg; adjourned. 
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