March 12, 2001
The meeting was called to order at 7:45 p.m. by President Harvey Reed at the Kennedy Senior Center. Attending were Harvey Reed, Mark Kaprielian, Robert Messenger, William Gennert, Robert King and Peter Lee. Anthony Gavelis, MACA member and Board candidate, was also present. Board member Steven Frymer joined the meeting at 7:54 p.m.
Motion 0157: (Messenger moved, Kaprielian seconded) The motion to accept the minutes for the Board meeting on February 12, 2001 was passed without dissent.
Treasurer Robert Messenger presented several reports that defined MACA’s financial condition as of February 28, 2001 in detail. These included 1) General Fund Income Statement, which showed a $1,782. profit, thanks to a $1,414. transfer from the Capital Equipment Fund; it also included an expense of $1,402. for publishing Chess Horizons magazine in February, 2) Special Funds Income Statement, listing the experience of Living Memorial Chess Fund, Life Membership Fund, etc., with a net loss of $310., 3) Statement of Changes in Fund Balances, showing the seven funds as having a total balance of
$46,525., and 4) Balance Sheet that listed total assets of $75,059. and liabilities of $28,533.
Motion 0158: (Kaprielian moved, Lee seconded) The motion that the Board commend Robert Messenger for his good work in preparing the reports on MACA’s finances since his appointment as Treasurer was passed without dissent.
The Clerk read the corporate resolution form for establishing MACA’s account at the Citizens Bank in Nashua, New Hampshire. The resolution was then signed and sealed by the Clerk.
Motion 0159: (Gennert moved, Frymer seconded) The motion to approve the resolution for Citizens Bank of New Hampshire, with Treasurer Robert Messenger and Vice President Mark Kaprielian as signatories, was passed without dissent.
The corporate resolution form for the A.G. Edwards, Inc. brokerage firm to give Treasurer Robert Messenger the check-writing authority and other privileges regarding MACA’s money market fund was also read by the Clerk. He then signed and sealed this form..
Motion 0160: (Kaprielian moved, Frymer seconded) The motion to approve the resolution for A.G. Edwards, Inc., with Treasurer Robert Messenger to have check-writing authority, was passed without dissent.
Copies of the originals of both resolutions are on file and may be reviewed by interested members.
Motion 0161: (Lee moved, Gennert seconded) The motion that an Investment Committee be appointed to review MACA’s current investments, to be chaired by the Treasurer, was passed without dissent. The Treasurer was authorized to create the committee and appoint its members. The committee is expected to complete its informational report for the Board meeting on April 9 and to make recommendations at the meeting on May 14, the draft to be submitted with the meeting agenda.
In his membership report Mark Kaprielian submitted two reports, generated by the MACA data base, as of March 11, 2001. One showed the membership categories as Adult (377), Junior (272) and Life (203) for a total of 852 members. The second report provided more detailed information, such as Chess Horizons subscribers, e-mail availability and complimentary subscriptions. There was some discussion of how to remind members that their memberships were expiring, but no decision was reached.
Tournament Coordinator Steven Frymer talked about the Mass. Open tournament that will be held at the Radisson Hotel in Marlborough on May 26-28. All indications are that the prize fund will be smaller than last year. Steve also mentioned that MACA’s annual meeting is scheduled for May 27 at 3:00 p.m.
Motion 0162: (Frymer moved, Messenger seconded) The motion that the Board accept the Radisson Hotel’s proposal that MACA have its Mass. Open tournament there, with the Treasurer authorized to be the signatory on the contract, was passed without dissent.
Because of previous problems with inadequate lighting at the Radisson Hotel, Steven Frymer had obtained information about possibly buying “goosenecks”, lighting extensions that would improve the situation.
Motion 0163:(Frymer moved, Messenger seconded) The motion that MACA purchase up to twenty (20) light extensions (goosenecks) at a maximum cost of $20. each was defeated, with 3 in favor (Reed, Frymer, Messenger) and 4 against (Kaprielian, King, Lee, Gennert).
The site for the Greater Boston Open tournament has not been established, and Steve Frymer would welcome any suggestions.
Anthony Gavelis talked about recent Scholastics developments. Financial reports were provided by the Treasurer for the Scholastic Qualifier I and II tournaments, as well as the Singles Finals and Gus Gosselin Grade Championship. The donations from Au Bon Pain, Tim Oliveri and Carol Locke were acknowledged.
The proposed report from the Budget Committee (Steven Frymer, Robert Messenger and Peter Lee) was presented by Steve. The estimates for the period through July, 2001 showed $41,700. in total income and expenses of $50,415. A transfer from the Capital Equipment Fund and a loan from the Life Membership Fund resulted in a net income of $4,285.
No expense was budgeted for MACA’s liability insurance policy which is not being renewed. Motion 0164: (Kaprielian moved, Messenger seconded) The motion to adopt the recommendations of the Budget Committee as the MACA budget was passed without dissent.
In regard to the coming election Mark Kaprielian reported that no candidates’ statements had been received. The draft copy of the ballot, prepared by Michael Hoffpauir, was reviewed by the Board and some changes made.
Several Board members had made suggestions for changing the number of Directors on the MACA Board. Mark Kaprielian’s comments at the meeting related the proposals to the total membership, as determined by the data base.
Motion 0165: (Messenger moved, Kaprielian seconded) The motion to accept the Data Base Processor’s report that the number of MACA Directors sshould be eight (8) for the 2001-2 election was passed without dissent.
Peter Lee reported on the details of MACA’s acceptance of credit card payments. The charges for this service would include a $100. cost for the machine, 2.35% plus 25 cents for each transaction (non-swipe rate) and a monthly statement fee of $7.50. Visa, MasterCard and Discover cards would be accepted.
Motion 0166: (Lee moved, Kaprielian seconded) The Board accepted the credit card proposal, as outlined by Peter Lee, with 6 in favor (Reed, Kaprielian, Messenger, Gennert, King, Lee) and 1 abstaining (Frymer).
The meeting was adjourned at 10:45 p.m. The next Board meeting is scheduled for Monday, April 9, at the Kennedy Center in Natick.
William R. Gennert