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SPJ/SDX Minutes

2014
1/15/14: Exec. Committee
1/15/14: SDX Exec. Committee
1/18/14: SPJ Exec. Committee
2/20/14: SPJ Exec. Committee

2013
4/20/13: SPJ Board
6/22/13: Exec. Committee
8/25/13: SDX Board
8/24/13: House of Delegates
8/24/13: SPJ Board
8/26/13: House of Delegates
8/27/13: SPJ Board

2012
1/28/12: Exec. Committee
2/23/12: SPJ Board
2/27/12: Exec. Committee
4/28/12: SPJ Board
4/29/12: SDX Board
5/23/12: Exec. Committee
6/16/12: SPJ Board
7/18/12: SDX Board
7/21/12: Exec. Committee
9/20/12: EIJ12 Opening Session
9/20/12: SPJ Board
9/21/12: SDX Board
9/22/12: EIJ12 Closing Session
9/23/12: SPJ Board
10/23/12: SPJ Board
12/19/12: SPJ Exec. Committee
12/19/12: SDX Exec. Committee

2011
12/22/11 SPJ Board
12/13/11 SDX Exec. Committee
12/13/11: Exec. Committee
9/28/11 SPJ Board
9/26/11 SDX Board
9/25/11 SPJ Board
7/16/11: Exec. Committee
4/17/11: SDX Board
4/16/11 SPJ Board
2/17/11 SPJ Board
1/14/11: SPJ Board
1/8/11: Exec. Committee

2010
12/1/10: Exec. Committee
11/18/10: Exec. Committee
10/6/10: SPJ Board
10/4/10: SDX Board
10/3/10: SPJ Board
7/24/10: Exec. Committee
5/26/10: Exec. Committee
4/18/10: SDX Board
4/17/10: SPJ Board
3/4/10: SPJ Board 1/16/10: Exec. Committee

2009
11/18/09: Exec. Committee
11/10/09: SPJ Board
9/29/09: Exec. Committee
9/21/09: SPJ Board
8/30/09: SPJ Board
8/27/09: SPJ Board
6/28/09: President's Memo
6/27/09: Exec. Committee
6/1/09: Exec. Committee
4/19/09: SDX Board
4/18/09: SPJ Board
4/18/09: President's Memo
4/17/09: Exec. Committee
2/20/09: Exec. Committee
1/10/09: Exec. Committee

2008
1/19/08: Exec. Committee
3/18/08: SPJ Board
5/3/08: SPJ Board
5/4/08: SDX Board
5/28/08: SPJ Board
6/21/08: Exec. Committee
7/29/08: SPJ Board
9/6/08: SDX Board
9/3/08: SPJ Board
9/7/08: SPJ Board
11/12/08: Exec. Committee

2007
1/10/07: Exec. Committee
4/7/07: SPJ Board
5/17/07: Exec. Committee
5/19/07: SPJ Board
5/20/07: SDX Board
8/3/07: Exec. Committee
8/22/07: Exec. Committee
8/30/07: SPJ Board
10/3/07: SPJ Board
10/4/07: SDX Board
10/5/07: Exec. Committee
10/7/07: SPJ Board
10/29/07: SDX Exec. Committee
11/7/07: SPJ Board
12/7/07: SDX Exec. Committee

2006
1/14/06: Exec. Committee
4/22/06: SPJ Board
4/23/06: SDX Board
6/17/06: Exec. Committee
8/23/06: Board of Directors
8/24/06: SDX Board
11/8/06: Exec. Committee
11/8/06: SDX Exec. Committee
11/15/06: Board of Directors
11/19/06: Exec. Committee

2005
1/22/05: Exec. Committee
3/9/05: SPJ Board
4/30/05: SPJ Board
5/1/05: SDX Board
7/16/05: Exec. Committee
9/1/05: Exec. Committee
9/6/05: SDX Board
9/21/05: Exec. Committee
10/5/05: Exec. Committee
10/7/05: Exec. Committee
10/15/05: SPJ Board
10/15/05: SDX Board
10/19/05: SPJ Board
12/7/05: Exec. Committee

2004
9/12/04: SPJ Board
9/9/04: SDX Board
9/9/04: SPJ Board
7/10/04: Exec. Committee
5/16/04: SDX Board
5/15/04: SPJ Board

2003
9/13/03: Delegates
9/11/03: SDX Board
9/11/03: SPJ Board
7/12/03: SPJ/SDX Board
4/26/03: SPJ/SDX Board
4/26/03: SPJ Board
1/18/03: Exec. Committee

2002
9/12/02: SPJ/SDX Board
9/12/02: SDX Board
9/11/02: SPJ Board
7/13/02: Exec. Committee
4/28/02: SDX Board
4/27/02: SDX/SPJ joint
4/27/02: SPJ Board

2001
10/7/01: SPJ Board
10/4/01: SPJ Board
10/4/01: SDX Board
10/4/01: SPJ/SDX
4/28/01: SPJ Board
4/28/01: SDX Board
4/28/01: SPJ/SDX
1/20/01: Exec. Committee

2000
10/29/00: SPJ Board
10/26/00: SDX Board
10/26/00: SPJ/SDX
10/26/00: SPJ Board
4/30/00: SPJ/SDX
4/30/00: SDX Board
4/29/00: SPJ Board

1999
10/6/99: SPJ Board
10/3/99: SPJ/SDX
10/2/99: SPJ Board
7/17/99: Exec. Committee
4/17/99: SPJ Board


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Home > About SPJ > Documentation > Meeting Minutes

Minutes
Meeting of the Executive Committee
Sigma Delta Chi Foundation
Conference Call
January 15, 2014

MEETING CALLED TO ORDER

With President Robert Leger presiding, the Executive Committee of the Sigma Delta Chi Foundation was called to order at 3:16 p.m. EST on Wednesday, Jan. 15.

ROLL CALL

In addition to Leger, the following were in attendance: Vice President Irwin Gratz, Secretary-treasurer Jane Kirtley, Treasurer Howard Dubin, Mac McKerral, Todd Gillman and Sue Porter. Also in attendance were Executive Director Joe Skeel, Associate Executive Director Chris Vachon, Controller Jake Koenig, and Greenwalt Accounting representatives Jennifer McVey and Amanda Meko.

FINANCIAL AUDIT

The purpose of the call was to review the annual independent financial audit for fiscal year 2013 conducted by Greenwalt.

McVey explained that Greenwalt found no significant or material changes in the Foundation’s financial records during the audit. Furthermore, she shared that Greenwalt gave the Foundation a clean report, which is the highest rating possible.

McVey then explained the income statement, noting there was a significant increase in realized and unrealized gains. This is the result of an improved market when compared to the prior year. She also noted that expenses were up in grant expenses and shared costs.

Leger asked if the increase in expenses was expected. Skeel explained that it was, and accounted for in the budget that was adopted for FY2013.

McVey shared that the Foundation’s unrestricted reserves would provide for 10.6 years of operations, assuming expenses remained constant. The prior year was 9.9 years. Greenwalt’s recommendation is for non-profits to have 3-6 months of unrestricted reserves.

McVey noted that fundraising expenses increased significantly, mainly due to higher personnel costs being allocated to this function. The Foundation raised 48 cents per dollar spent. The prior year the Foundation earned $3.34 per dollar spent. Greenwalt recommends $4-5 per dollar spent.

Porter asked how the IRS might view this shift. Meko explained that the IRS is looking more closely at how organizations under-represent their fundraising costs. Given that the Foundation’s fundraising costs increases, due to staffing changes, it’s unlikely the IRS would have an interest.

McVey shared that the foundation’s cash position was up $20,000 over the prior year.

Lastly, Meko said the foundation may want to consider reviewing all current policies, such as conflict of interest and record retention, to ensure they are up to date.

Upon proper motion and second by Dubin and McKerral, respectively, the committee approved the audited financial records.

Staff will share the approved audit report with the SDX Board of Directors upon receipt from Greenwalt.

Adjournment

The meeting was adjourned at 3:35 p.m. EST on Wednesday, Jan. 15, 2014.

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