2008 Homecoming Meeting Minutes

Meeting called to order at 11:00am - October 18, 2008

Introductions of Alumni and undergraduate members

A motion was made and seconded to waive the reading of the minutes from the 2008 Founder's Day meeting

Alumni President report – Richard Maltz

• Will be covered in following reports

Alumni Finances – Chris Burke

 • The process of Chris Burke taking over the responsibilities of alumni Treasurer from Jim Stuhltrager are almost complete.
• We just started the first steps of a major capital campaign. A wealth study of our membership to best identify those members that might be able to step with lead donations is the first step in this 5 year capital campaign. The wealth study should be done by the end of October 2008.
• Waiting on final paper work from transition of treasurers, but are current savings are close to $15,000 - the below numbers are till June 30.

Balance as of January 1, 2008 $12,363.50

Total Deposits 1/1/08 - 3/31/08 $10,158.51
Total Interest 1/1/08 - 3/31/08 $28.23
Total Debits 1/1/08 - 3/31/08 $8.955.96

Balance as of June 30, 2008 $13,594.28

• Alumni Donations are ahead of last year, even though less brothers have given this year. 
• 118 brothers have given to date - last year 150 brothers gave in total.
• We changed the suggested donation amounts, which seem to help increase donation levels.
• Chris has laid out an aggressive 12 month financial plan

Financial Reporting 
Complete Financial Statements 1/31/2008 
Annual Budgets and Forecasts 2/28/2009

Governance & Compliance 
Updated filings with PA State 12/31/2008 
Review of Tax Status of Corporation 12/31/2008 
Annual Filings and Tax Returns 3/15/2009

Chapter House 
L/T Capital Budget 2/28/2009 
Develop 2009-10 Operating Budget 5/31/2009 
Establish Target Time Frame to Ownership 7/31/2009

Fundraising 
Viability Assessment 11/30/2008 
Identify Team Leaders 1/31/2009 
Begin Capital Campaign 3/31/2009

• Thank Jim Stuhltrager for all his work as treasurer, esp. during those trying days.

Undergraduate President Report – James Patterson

 • 4 new members this year – 11 this year
• Very active in community activities – blood drive, Dance Marathon, Village of Penn State, THON, etc
• 26 brothers slated to live in house this coming fall. First time in a long time that some of the rooms will be doubles
• Participating in Homecoming and are in first place, but waiting results from the parade. Results to be announced at Football game.
• Will be doing THON again – but not directly with a sorority – as to guarantee two dance spots - are already half way in fundraising compared to last years amount.
• Will be holding a alumni dinner on November 4 (Thursday) for all local alumni.
• Once again, chapter is looking forward to alumni work weekend.
• Intramural Sports - total involvement in all sports - current in the top 10.
• K.I.C.K.S. soccer tournament will be November 16th.

Undergraduate Treasurer Report – Jasen Marshall

• Building a capital budget.
• New boiler saving chapter on electric costs.
• 26 brothers living in house - 24 should be living in the house this coming spring
• All brothers in good standing.
• Having the University Bursar collecting house funds has been working out great for chapter. Any brother not paying will not be able to receive diploma from university.

Old Business

• Chapter liked the use of the rush brochure and plan on continuing its usage

New Business

• Elections

A new board of directors were elected. The new board is (in alphabetical order)...

Chris Bartnik
Robert Blumstein
Chris Burke
David Gendelman
Richard Maltz
Jim Stuhltrager
Christopher Zegar

• There will be an election at next year's homecoming, but Richard Maltz is planning to introduce a by-law amendment to make the length of term for the board to two years. Also, for the next election there will be bios for all nominees.

For the Good

• Richard and Jean Bartnik - for the couch, scanner and all the support of the chapter at Homecoming
• To all the brothers here today - esp. the recent alumni staying involved
• To the chapter for doing another great job with Homecoming

Motion to close – seconded

Meeting closed with the singing of “It is to Thee”

Meeting ended at 11:28am

Respectfully submitted.

Richard Maltz '90
Alumni President