Executive Committee meeting minutes and agenda, September 13, 1994

JEWISH FEDERATION OF LAS VEGAS Executive Committee Meeting Minutes September 13, 1994 PRESENT ABSENT Dr. Allan Boruszak Rabbi Sanford Akselrad Amy Boruszak Ira Fischbein Sandy Mallin Daryl Alterwitz Gene Greenberg Arthur Marshall Hal Ober Dr. Marv Perer Emily Novick Michael Novick Leslie Simon Douglas Unger STAFF Ronni Epstein Tony Figueredo Ted Flaum Sharon Heiman Suzan Loeb I. WELCOME AND ANNOUNCEMENTS Dr. Allan Boruszak welcomed everyone to the first official Executive Committee Meeting of the year. Dr. Marv Perer moved to accept the minutes from the August 23, 1994 Special Executive Committee Meeting. Douglas Unger seconded and the motion carried. Allan said over the next several months, in preparation for the Annual Campaign, there would be a series of solicitor training programs that all Board members would be required to attend. He asked everyone to mark their calendar for Wednesday, October 26th at 5:00 p.m. to attend a Special Board Orientation Program. Allan said this would be in lieu of a Board Retreat this year, and whether the Board members were new or on the Board for several years he urged everyone to participate in the program. Allan said dinner would be provided at a minimal cost. He said the regular business of the Jewish Federation Board would take place immediately following the Board Orientation. Allan said that attached to the Agendas was a copy of the new IRS Guidelines for Charitable Contributions. He said it was important for everyone to take time to read them. Allan said the staff was fully aware of what was needed for compliance with these Guidelines however, it was important that members of this Board be informed if questions are asked regarding what can be taken as a charitable contribution. 1 II. DEMOGRAPHIC STUDY Allan called on Amy Boruszak, Chairman of the Planning Committee, to introduce Dr. Gary Tobin. Amy said the Planning Committee met prior to tonight's Executive Committee meeting, to go over the questions to be asked on the Demographic Study interview with Dr. Tobin. Amy introduced Dr. Tobin of Brandeis University who is in charge of the Demographic Study. She said UNLV would be making the interview calls. Dr. Tobin gave an up-date on the Demographic Study. He said the survey questions were approximately 50 minutes. He said that since the contract with UNLV was for 40 minutes he had met with the Planning Committee to review the questionnaire and delete questions that were not pertinent to the Federation's needs. Gary said UNLV contracted for 600 random calls which will entail 20,000 to 50,000 calls in order to reach the 600 families. Gary recommended that as an investment, the gathering of a Federation Master List would be of use. He said there were many hook-ups with companies throughout the area to build a name bank from. Gary said statistics show that for every one dollar invested in gathering names the Federation would receive up to 50 times that amount in fund raising. He said it was imperative the Federation find the resources to build a list of names as at the end of the Study there will be many Jews in the area that are not on our mailing list. Leslie Simon asked what types of advertising were being used to advise people of this Study, and Ronni said that not only all synagogues and Jewish groups have been contacted but the local media would be used. Allan thanked Gary for meeting with the Executive Committee. He thanked Amy and the Committee for the countless hours they have spent in preparation of the Study. III. INVESTMENT COMMITTEE Allan called on Ira Fischbein, Treasure of the Investment Committee, to report on the Investment Committee Policy and Guidelines. Ira said the Investment Committee has met several times and has prepared a Statement of Investment Policies and Guidelines to be submitted to this Committee and the Board of Directors for approval. Amendment 1 Hal Ober moved to change Section El to specify that the minimum percentage to be accepted will be reviewed at least once a year. Mike Novick seconded. 2 Amendment 2 Ira Fischbein moved to change F3 to change the 90% to 100% to allow a better return on the investment of jumbo Certificate of Deposits. Mike Novick seconded. After discussion Allan called for a vote for the acceptance of the Statement of Investment Policies and Guidelines with the modification to El and F3. Motion carried unanimously. During the discussion of the equity investments Ronni proposed buying out the mortgage of the Federation Building which is approximately $175,000 with interest at 8% with funds available from our Foundation investments. Dr. Marv Perer moved to buy-out the Federation's mortgage and maintain the annual interest rate of 8%. Mike Novick seconded. Amy said she felt the $50,000 loaned by the General Fund, at no interest, should be paid back prior to buying out the mortgage. Hal asked how much the Capital Drive has raised. Ronni said $108,000 was raised and was to be paid to the Federation over five years. Marv asked where the money to pay off the building was to come from, and Ronni said the money was to come from the Foundation which has funds amounting to approximately one million dollars. Amendment 1 Mike Novick amended the motion to state that the Federation buy back the mortgage on the building and charge ourselves an interest rate of 6.5%. Dr. Marv Perer seconded. The motion carried. Amendment 2 Hal Ober moved to approach the bank requesting a reduction of the building mortgage and the interest rate to 6%. Doug Unger seconded. After discussion Allan called for a vote to buy-out the ' Federation's mortgage unless the bank is willing to reduce the interest rate to 6%. Motion carried unanimously. Hal Ober will approach the bank in the next two days concerning the reduction of the building mortgage. IV. 1995 CAMPAIGN Allan said that as soon as we had completed the 1994 Campaign we began planning for 1995. He said Mike Novick, who assumed the General Campaign Leadership, has.been working with Ted Flaum, our Campaign Director, and Ronni to develop a Campaign Cabinet. He called on Mike Novick to give us an update on his progress. Mike said the first two gifts of the 1995 Campaign has been received. He said David Dahan would be chairing Super Sunday and it would be especially important this year in introducing new donors and volunteers to the Federation. He said Sandy Mallin and Amy Boruszak were co-chairing the New Gifts Division and have been busy identifying people who may be on the Federation list, as well as those who may be on but are not currently giving or giving to capacity. Mike said Lenny Schwartzer has agreed to chair the Brandeis Division. He announced January 21st for the Major Gifts Event which Sheldon and Miriam Adelson will chair. He said the Major Gifts Division does not yet have a chair and asked he be contacted with any suggestions. V. JEWISH REPORTER Allan said the Federation has taken over the responsibilities of the Jewish Reporter. He said that although there was an interim editor the Federation is actively seeking other individuals who have the ability to serve as editor of the paper. He said it was imperative for anyone who own a business to make a commitment to advertise in the Jewish Reporter as without the advertising revenue this would be a very expensive project. Allan asked anyone contact him with any suggestions as to individuals to assist with the Jewish Reporter. VI. MISSIONS PROGRAM Allan called on Ronni Epstein, Executive Director, to report on the status of our Missions Pilot Program. Ronni said we are the test market community for the United States for the UJA's Mission Pilot Program. She said the missions are being called "Homecoming Trips to Israel." She said the UJA has an effective marketing program in place. She said brochures would be placed in synagogues and there are television ads, newspaper ads and mailers going out the everyone on our mailing list. Ronni said these missions are targeted for younger people, singles, young leadership (25 to 40ish). She said missions for other age groups were available. She said a Missions Committee is being formed and would meet in late October. Ronni said once people call the 800 number listed on the brochure there would be a need for people in Las Vegas that have gone to Israel to return these calls. Allan thanked Ronni for her presentation. He said that it was very important for this community to have a strong missions program. VII. NEXT MEETING Allan said he hoped the Federation has a good Campaign year, and wished everyone a Happy New Year and an easy fast. He said the next meeting would be October 12, 1994. 4 AGENDA EXECUTIVE COMMITTEE MEETING SEPTEMBER 13, 1994 I. WELCOME AND ANNOUNCEMENTS II. DEMOGRAPHIC STUDY III. INVESTMENT COMMITTEE REPORT IV. 1995 CAMPAIGN V. JEWISH REPORTER VI. MISSIONS PROGRAM VII. NEXT MEETING OCTOBER 12, 1994 y ? 1 ./FW/S// FEDERATION OF ^ ^ ^ / S1CESMUSD CENTER - W , M o ^ <FAX ^ m.322S