Manhattan Beach Education Foundation
Board of Directors - Regular Meeting
October 12, 2004 at 7:30 p.m.
MBUSD Office, 325 S. Peck Avenue, Manhattan Beach

Present:

Directors (21/30): Edie Babbe, Vanessa Benya, Webster Burns, Wendy Carson, Brian Currey, Mike Dunitz, Michelle Erickson, Linda Figel, Chuck Kaminski, Craig Kline, Carolyn Leserman, Diane Levitt, Anne McLaughlin, John Oshiro, Greg Rosen, Ellen Rosenberg, Jeff Thaler, Ida VanderPoorte, Susan Warshaw, Rich Weiss, Pam Yarbrough.

MBUSD Trustees Representative: Amy Howorth

MBUSD Representatives: Gwen Gross, Steve McMahon

Business Partnerships: Sherry Kramer

MBEF Staff: Debbie Bowen

Guests: Tami Brothers, Tammy Choy, Cindy McMahon, Margo Thole

Presiding: Carolyn Leserman, President

Recording: Anne McLaughlin, Secretary

Handouts: Agenda, Minutes, Financial Report

President’s Notes:
Ms. Leserman thanked Mr. Jeff Thaler, Mr. Matthew Peck, Mr. Tom Franco, and other volunteers for their efforts to make the Wine Garden fundraiser a success.

She announced the resignation of Director Carol Rowe, effective June 2004. Ms. Rowe helped coordinate this year’s Super Circle event and has offered to continue to do so.

Ms. Leserman announced that MBEF’s Executive Board met with Dr. Scott Wilbur, MCHS principal, to provide a history of the Foundation and update him on MBEF’s current activities.

Ms. Leserman announced that she, Ms. Linda Figel, and Ms. Diane Levitt met with representatives of the Hermosa Beach Education Foundation to discuss opportunities to work together, primarily for the betterment of Mira Costa High School, which most Hermosa Beach children attend.

Lauri McCarthy, MBMS’s School Site Council President has asked that an MBEF representative provide a report on MBEF at SSC meetings, and Ms. Leserman asked for volunteers to assist her. Ms. Vanessa Benya offered to do so.
Ms. Leserman announced that she and Ms. Ida VanderPoorte would be attending the California Consortium of Education Foundations conference on October 18 and 19.

Ms. Ellen Rosenberg discussed an African safari fundraising opportunity. Mr. Thaler and the Wine Auction committee will evaluate this to determine whether it can be used in connection with the Wine Auction.

Minutes:
Upon motion duly made and seconded, the minutes of the meeting of September 14, 2004 were unanimously approved as presented.

Financial Report:
Ms. Ida VanderPoorte stated that she expected the fiscal year end audit report to be completed today.

Ms. VanderPoorte presented financial statements for the fiscal year ended June 30, 2004, on an accrual basis. She presented financial statements for the three months ended September 30, 2004, and stated that they would be on an accrual basis going forward.

Ms. Anne McLaughlin stated that the Investment Committee met on Tuesday, September 21, 2004. She said that the committee received an update on MBEF’s investment portfolio from Mr. Jeff Horn of SmithBarney, discussed the goals of the Endowment and related funding requirements, and considered the need to split off the Endowment as a separately managed portfolio and possibly as a separate entity. Ms. McLaughlin also said that Mr. Rich Weiss had prepared a draft of an Investment Policy Statement that is being evaluated by committee members. Mr. Weiss’s firm, City National Bank, conducted a detailed review of MBEF’s SmithBarney portfolio and determined that it was generally well-diversified and well-run.

Business Education Partnership Report:
Ms. Sherry Kramer announced that the Neptunian Women’s group had donated $1,925 to MBEF. Beach Bank intends to purchase a corporate table at the 2005 Wine Auction and will give $100 to MBEF for each new account opened.

Ms. Kramer stated that the Business Advisory Committee would meet on October 21.

Ms. Leserman thanked Ms. Kramer for her attendance at numerous community events throughout the year on behalf of MBEF.

Ms. Leserman thanked Ms. Debbie Bowen for writing a grant to obtain $5,000 from Northrop Grumman.

Superintendent’s Report:
Dr. Gross distributed an analysis of test data entitled “Assessment & Accountability Report.” She said that test scores are excellent and are rising after many years of hard work. She announced that four MCHS students were National Merit Semifinalists.

Mr. Steve McMahon distributed the MBUSD “Priorities for the Future” survey and said that the District is interested in receiving feedback. He distributed the MBUSD budget summary dated 10/12/04 and noted that legal costs continue to be high and are primarily related to special education issues. Mr. Craig Kline suggested that the District request budgets from the various law firms providing services for the District.

MBUSD Board of Trustees’ Report:
Ms. Amy Howorth said that the Board of Trustees and staff met on September 19 to evaluate goals for the District. The goals were student support, an exciting and up-to-date curriculum, and a focus on Mira Costa High School (appropriate size, innovative programs, and necessary support). Dr. Gross said that a team is going to the High School Summit to obtain ideas for Mira Costa.

Annual Appeal:
Ms. Linda Figel announced that the Annual Appeal had raised approximately $800,000 so far and that raising the next $1 million would be more challenging. She stated the need to evaluate additional ideas for increasing donations. A discussion ensued.

Ms. Levitt reported on the meeting with representatives of the Hermosa Beach Education Foundation and said that she had asked HBEF to send a letter at the end of each school year to its 8th graders introducing MBEF and asking that Hermosa Beach families support MBEF.

Wine Garden:
Mr. Jeff Thaler thanked Mr. Tom Franco, Mr. Matthew Peck, and Ms. Casey Perkins, co-chairs of the Wine Garden fundraiser, along with Ms. Heather Stevens. He stated that 80 volunteers worked the event and that $2,000 had been raised and $1800 in wine remained for future events. Mr. Thaler announced that next year’s Wine Garden would include bigger signs and longer hours. Several directors offered additional ideas to promote and improve the event in the future.

Old Business/New Business:
Ms. Sherry Kramer thanked Ms. Maria Kosanovich and Ms. Erika Muelle, volunteers who assisted with the MBEF and Mayor’s golf tournaments.

Meeting Adjourned: 8:47 p.m.

Next Meeting: Tuesday, November 9, 2004, 7:30 p.m. at the District Office, 325 S. Peck Avenue