Manhattan Beach Education Foundation
Minutes

Board of Directors – Regular Meeting
January 10, 2006 at 7:30 p.m.
MBUSD Office, 325 S. Peck Avenue, Manhattan Beach

Present:

Directors (22/28): Edie Babbe, Vanessa Benya, Penny Bordokas, Webster Burns, Wendy Carson, Brian Currey, Randy Dotemoto, Michelle Erickson, Linda McLoughlin Figel, Craig Kline, Carolyn Leserman, Diane Levitt, Sherri Lietzow, Anne McLaughlin, Cindy McMahon, John Oshiro, Ellen Rosenberg, Rich Weiss, Jean VanZanten, Susan Warshaw, Erika White, and Laurel Wright.

MBUSD Rep: Dr. Gwen Gross and Steve McMahon

Board of Trustees: Amy Howorth and Bill Eisen

MBEF staff: Debra Bowen

Guests: Stewart Bogen, Tammy Choy, Claire Clurman and Sunni Won

Presiding: Webster Burns, President

Recording: Brian Currey, Secretary

Handouts: Agenda, Minutes, Financial Report, MBEF Policy on For-Profit Business Use of Name and Advertising (Draft #1), MBEF Endowment Fund Asset Allocation Review as of January 5, 2006, Mira Costa High School at a Glance, MBUSD Staff Development Opportunities in Writing

Welcome of Guests:
Webb Burns welcomed our guests to the meeting.

Recognition of Mr. and Mrs. George Okada:
Greg Rosen expressed the appreciation of the Foundation for the Okada's nine years of support of the wine auction. Each year, they have provided beautiful plants and "landscaping" from their nursery for the event.

Annual Appeal Report:
Ellen Rosenberg reported on the progress of the annual appeal. To date, the annual appeal has yielded approximately $1.93 million, consisting of $1.68 million in collections, $200,000 in pledges and anticipated corporate matches, and a $50,000 commitment from the Pacific PTA. She shared some statistics relating to the campaign, and noted that the PTA would begin making phone calls on our behalf to reach those who have not yet donated. Ms. Rosenberg also noted that thank you calls would be going out to larger donors as part of our stewardship efforts. Finally, she reported that the 2004-2005 annual report is about ready to go to the printer.

Executive Director Search:
Anne McLaughlin reported that Ellen Rosenberg, Jeff Thaler, Webb Burns, and Beth Allen had agreed to serve with her on a search committee for the executive director, and that she also has approached a couple of local business leaders to serve. Tentatively, the committee hopes to begin interviewing for the position in February, and have a new executive director in place by March or April.

Nominating Committee:
Brian Currey reported that Randy Dotemoto, Susan Warshaw, and Laurel Wright had agreed to serve on the nominating committee, and invited any director interested in serving on the committee to contact him. He also invited directors who have an interest in serving on the executive board to let that interest be known to the committee.

Treasurer’s Report:
In the absence of the treasurer, Ms. McLaughlin presented the written financial report.

Investment Report:
Rich Weiss outlined the asset allocation of the Endowment fund and reported on investment performance from April 29, 2005 (when the funds were invested) through January 5, 2006. The portfolio posted a gain of approximately of $147,000 during that period. Mr. Weiss was careful to note that returns on the various components of the portfolio, and on the portfolio as a whole, will vary depending upon market conditions in the future, and may include periods of negative returns.

Ratification of Minutes:
Upon motion duly made and seconded, the minutes of the meeting of December 13, 2005 were approved as presented.

Superintendent's Report:
Gwen Gross reported on the "Why Mira Costa?" event at Manhattan Beach Middle School, and provided directors with a handout to be used at the event. She also thanked the foundation for its monetary support of that event. In addition, Dr. Gross noted the passing of Carl Fischer, who served for 17 years as the principal of Mira Costa. She also reported that a community member who wishes to remain anonymous, and who owns a property management firm, is power washing, scraping and painting the high school at no cost to the district. Dr. Gross discussed upcoming staff development workshops on writing, and provided a handout describing those programs. Steve McMahon discussed budget issues and answered directors' questions.

Board of Trustees' Report:
Amy Howorth and Bill Eisen commented on a recent board workshop and noted that, at future meetings of the board of trustees, the public comment session will be moved to the beginning of the agenda (before the consent calendar). Closed sessions will start earlier in order to try to start the public sessions on time, at 6:30 p.m. Ms. Howorth noted that the board would hold another workshop on January 24, 2006 to discuss Mira Costa.

Policy on Use of MBEF Names by Businesses:
Edie Babbe asked for comments on the draft policy #1 that she has circulated.

New Business/Old Business:
Ms. McLaughlin discussed the Comedy and Magic Club event and solicited input on whether to go forward with the event this year. The consensus view was to go forward. Carolyn Lesserman agreed to work on the event along with Debbie Bowen.

Meeting Adjourned:
Approximately 8:47 p.m.

Next Meeting:
Tuesday, February 7, 2006, 7:30 p.m. at the District Office.

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