MACA Board Meeting Minutes
April 9, 2001
The meeting was called to order by President Harvey Reed at 7:43 p.m. at the Kennedy Senior Center. In attendance were Harvey Reed, Mark Kaprielian, Robert Messenger, William Gennert, Michael Hoffpauir and Steven Frymer. Board members Peter Lee and Robert King joined the meeting at 7:45 and 8:15 respectively.
Motion 0167: The minutes for the Board meeting on March 12, 2001 were approved with 6 in favor (Reed, Kaprielian, Messenger, Gennert, Hoffpauir, Lee) and 1 abstaining (Frymer).
At Robert Messenger’s request the voting totals for a previous motion on December 18, 2000 were amended to show that he did not vote. Motion 0168: The motion (0144) to cancel MACA’s liability insurance policy was not passed, with the amended totals of 1 in favor (Frymer) and 5 (not 6) opposed. (Note: The policy has since not been renewed).
Treasurer Robert Messenger distributed and discussed reports outlining MACA’s financial situation as of March, 2001. Some highlights were: 1) General Fund Income Statement showed year-to-date income of $28,529., expenses of $36,302. and a net loss of $7,772; largest expense items were $15,862. for adult tournaments and $12,736. for Chess Horizons magazine, 2) Special Funds Income Statement, listing the results for the Living Memorial Chess Fund and six other funds and a $143. net loss, 3) Statement of Changes in Fund Balances, showing a total for all funds of $46,678., and 4) Balance Sheet, providing the details for total assets of $59,865., liabilities of $13,187. and total fund balances of $46,678.
It was noted that most of MACA’s monies are now in a savings account at the Citizens Bank of New Hampshire ($15,363.) or invested with the A.G. Edwards brokerage firm ($28,325.). The General Fund owes $11,900. to the Life Membership Fund, and a repayment plan is being established.
Motion 0169: (Kaprielian moved, Messenger seconded) The motion that the Treasurer be directed to set as a goal the sum of $6,000. for operating cash balance and that, when the balance exceeds that amount plus $2,000., then the Treasurer is directed to notify the Board for action towards paying liabilities, such as the Life Membership Fund loan, was passed without dissent.
Motion 0170: (Reed moved, Hoffpauir seconded) The motion that the Treasurer be directed to pay $3,000. towards the debt owed to the Life Membership Fund was passed without dissent.
Michael Hoffpauir’s report on Scholastics events described the recent successful Scholastics team tournament in which 53 teams participated, A profit of almost $2,000. is expected, and 100 new MACA members were enrolled.
Motion 0171: (Lee moved, Kaprielian seconded) The motion to commend Michael Hoffpauir for his efforts in running a very successful Scholastics program was approved unanimously and enthusiastically.
Tournament Director Steven Frymer reported that the Mass. Game/60 tournament went well, but the turnout was disappointing. This was attributed to there not being a mail notice about this event. There was still a small profit ($50.).
The cost and procedures for sending flyers were discussed. This led to the assignment of the following responsibilities for the flyer for the Mass. Open tournament: Michael Hoffpauir to mail it with the election ballot, Robert Messenger and Michael Hoffpauir to distribute it at the Foxwoods Open, and Robert King to handle the mailing to members. The notice about the annual meeting will also be included in the election ballot mailing.
Mark Kaprielian noted that 2,000 eligible UCSF members do not belong to MACA. He will prepare mailing labels for 250 of the best non-member prospects. To remind present members of their membership expiration dates, Mark could also run a monthly list from the MACA data base.
Robert Messenger presented an interim report for the Investment Committee about MACA’s portfolio. The information he distributed outlined the total experience from 1995 to April, 2001 of our stocks, bonds, etc. At several members’ request he will try to provide additional details about the individual results for each of our investment vehicles.
Treasurer Robert Messenger had also reviewed MACA’s agreement with BanCard Systems for our acceptance of credit card payments. He questioned the terms of the agreement and will contact BanCard for more information before deciding whether to sign it.
There were suggestions about having a feedback survey to obtain members’ opinions about Chess Horizons. The cost of producing the magazine was also mentioned. No decisions were reached, and this subject will be discussed at a later meeting.
Motion 0172: (Reed moved, Messenger seconded) The motion to reaffirm that Mark Kaprielian will be the Data Processing Coordinator was passed without dissent.
Motion 0173: (Reed moved, Gennert seconded) The motion to appoint Robert Messenger as Publications Coordinator was passed with 7 in favor (Reed, Kaprielian, Gennert, Frymer, Hoffpauir, King, Lee) and 1 abstaining (Messenger).
The meeting was adjourned at 10:30 p.m.
The next meeting will be held on Monday, May 14, ay 7:30 p.m. at the Kennedy Senior Center.
William R. Gennert