Agenda for Board Meeting - June 8, 2022
Agenda for Board Meeting June 8, 2022 Summary of Minutes of July, 2021 Meeting · Passed motion to apply to IRS for public status as a nonprofit § It took eight months for IRS to award public designation § Since that time, we have applied for several grants that we were not eligible for as a “private” nonprofit, e.g., Hillsdale Foundation, Schwab, GlaxoSmithKline, Google Grants, Amazon Smile etc. · Passed motion to include internships as part of our scholarship program – (This year with an EHS class of 66 members, we have awarded 8 scholarships, and have 2 interns placed, working on a third, another informal internship – working with his father in machining) · Ratified/Approved by-laws (Living, breathing organic document vs. fixed, inscribed in stone – balance between stability and adaptability) Proposals for this meeting A. Alumni Association - Establishment To restructure our organization to become an EHS Alumni Association of which the scholarship remains the primary mission, but which allows us to assist our school with other projects as well. *Events that led up to this initiative to broaden our mission 1>Our financial advisor, Hank Dunbar, recommended it early on 2>EHS established an Alumni Office & tried to raise funds on social media using a third party – Grants Give. Little success. 3>Alumni office asked us to help with raising funds for band uniforms 4>We had an Asynchronous meeting of this in January, 2022. Later a request to help with this project was sent to alumni via Facebook, email and response was positive. We had personal consultation with class members of 67, 91, and 71 all of which indicated support for the project. Class of ’71 raised $1600 at their 50-year reunion for this project. 5>Our incorporation papers indicate that the mission of our organization is “educational”, and we felt that it was within our mission to help, but we need to make it a part of our by-laws as well. Articles of Incorporation (NC Sec. of State) > 501c3 nonprofit organization (IRS) (Parent Corporation > Offspring Organizations/Divisions) *501c3 does not specify the purpose of the charitable organization – it specifies tax exemption only and whether the organization is private or public. Proposal/Suggestion to have an EHS Alumni Association meeting each year at Homecoming. We might have the meeting in Dixon Auditorium after school hours. Restructuring the organization - proposal EHS ALUMNI ASSOCIATIONBlue & Gold Alumni ScholarshipECS/Alumni Office Projects Change recommended to Preamble The Blue and Gold Alumni Association is a non-profit corporation whose incorporation document designates its purpose as “Educational”. The primary means of fulfilling this educational mission is to offer vocational-technical scholarships to Elkin High School students/graduates; however, the association may also help Elkin City Schools with other projects and programs that fit within the category of “educational”. B. Change “graduates” to “students” in our by-laws to help dual-enrolled students · Several students at EHS take dual enrollment with Surry (or other) Community College their junior and senior years. Many of these are enrolled in vocational-technical fields that we are helping fund. · These dual-enrolled students are not eligible for the Pell or other grants and sometimes the cost of equipment they need strains or exceeds the ability of their parents to pay. · The proposal is to amend our by-laws to allow us to help these students with fees and equipment. · These students would fill out an application like graduating candidates and write an essay on their career goals and how much money they will need. C. Other Changes to our by-laws: Independent Financial Audit, changes in some of the language, etc.
EHS ALUMNI ASSOCIATION
Bylaws, Policies, Procedures, and Principles
The EHS Alumni Association is a non-profit corporation whose incorporation papers designate its purpose as “Educational”. The primary means of fulfilling this educational mission is to offer vocational-technical scholarships to Elkin High School students/graduates; however, the association may also help Elkin City Schools and the EHS Alumni Office with other projects and programs that fall within the category of “educational”.
BLUE and GOLD
Alumni Scholarship
The Blue and Gold Alumni Scholarship is a 501(c)(3) public non-profit funded by Elkin High School alumni and other sources. The scholarship shall be awarded to Elkin High School students/graduates, but the decision regarding the winners of the scholarship shall be made exclusively by a committee of the EHS alumni association. Faculty and Staff of Elkin High School may be added to the committee as non-voting members and play an advisory role, but all decisions regarding the scholarship are final and not subject to appeal.
MISSION STATEMENT
The establishment of the Blue and Gold Alumni Scholarship Foundation was inspired by an initiative from Elkin High School alumni to perpetuate the legacy of Elkin High School by offering a scholarship that provides financial post-secondary educational support for students with financial need. The vision of the Blue and Gold Alumni Scholarship is to empower capable, financially needy (challenged?) students to pursue their career and personal goals through technical and vocational education in fields that are critically-needed in the Elkin Community. Since most of the scholarships available at Elkin High School are for four-year bachelor’s programs, and few scholarships target vocational and technical students who aspire to a two-year Associates degree, the initial focus of the scholarship is to fill that void in scholarship offerings. Hence, the emphasis will be on students desiring an associate degree or certification in a field such as {those recognized by SCC} Advanced Manufacturing, Agricultural Science, Art & Design, Beauty & Wellness, Building & Construction, Business & Finance, Childhood Education, Computer & Information Technology, Health Care and Nursing, Law & Public Safety, Electronics, Electrical Systems, Transportation and Logistics, or other vocational field. After funding a student for two years in a vocational program, the scholarship will offer additional funding if that student wishes to pursue a four-year bachelor’s degree in his/her field at a public institution in the UNC system (or other institution approved by the Selection Committee).
Thus, the scholarship shall aim to assist students in four tracks, namely, those pursuing 1) a vocational-technical degree or certification through dual enrollment while in high school, 2) a non-degree certification in a skilled vocation such as truck driving, HVAC, welding, electrical contracting, etc. 3) an Associate’s degree in a career field such as nursing or electronics, and 4) a bachelor’s degree in a career field such as electronics or computer science. At a later stage, as the endowment grows, the Foundation may also consider funding bachelor’s degrees in academic subjects leading to a B.A. or B.S. degree.
Proposal to add to mission: The EHS Alumni Association may also financially assist the EHS Alumni Office and the Elkin City School system with other projects. However, money raised for projects other than the scholarship shall be “restricted” funds to be used only for those specific projects. No money raised for scholarships shall ever be used for any other project.
Section 2. ANNUAL AUDIT. The Board may engage an independent Certified Public Accountant annually to audit the financial reports of the Foundation.
Addition: The administrator will also present a monthly financial statement to the Audit Committee and an annual report to the Board and alumni. In lieu of an annual audit by an independent CPA, the Board may substitute a 990-PF (annual financial statement required by the IRS) completed by an independent Certified Public Accountant. {Some grantor foundations accept the 990-PF instead of an independent financial audit.}
Alternative: Let Alumni Office handle all the money for their projects – even though we are supporting these causes.
1>Initially tried this approach with little success
2>If alumni give through the EHS website, “Grants Give” asks for a 15-20% tip
3>We can’t track how much the alumni are giving to a project
Proposals in brief (Open floor to make these into motions one at a time) 1>Restructure our organization to become an Alumni Association to help with ECS projects 2>Make dual-enrolled students of EHS eligible for the scholarship if pursuing a vocation 3>Accept 990-PF as a substitute for Independent Audit by CPA (many foundations accept)
