MINUTES – September 16, 2004
THE WEST VIRGINIA BAR FOUNDATION, INC.
BOARD OF DIRECTORS MEETING
STATE BAR CENTER – CHARLESTON
The meeting of the Bar Foundation’s Board of Directors was called to order by President Al Emch on September 16, 2004 at the State Bar Center in Charleston.
Jack Bowman, a new member of the Board of Directors, was present in person. Participating by telephone conference call were Claudia Bentley, Vice President Bill File, Bob Goldenberg, Bob Noone and John Tinney, a new Board member. State Bar Executive Director Tom Tinder was also in attendance.
The first item on the Agenda was a review of the Minutes of the last Board of Directors Meeting which was held on June 10, 2004. There were no additions or corrections to be made to the Minutes as presented.
The next item on the Agenda was a report from the IOLTA Advisory Committee. It was reported that $363,000 had been generated in IOLTA funds during the 2003-04 fiscal year which was a significant reduction from more than $500,000 which had been received in the previous fiscal year. $68,000 was available for disbursement at the present time. The IOLTA Advisory Committee recommended that $10,000 be placed in the Rainy Day Fund and $58,000 be distributed in accordance with the Supreme Court Order. A motion was duly made, seconded and passed to keep $10,000 in the Rainy Day Fund and distribute $58,000 in accordance with the Supreme Court Order. It was also announced that the IOLTA Advisory Committee was focusing on five large banks in the state which have more than 60% of the total IOLTA funds in their accounts. All of these five banks do not charge service fees, but there are differences in the interest rates which are charged.
President Emch then led a discussion concerning the financial report for the organization. A review was done of the 2003-04 financial report which showed more than $20,000 had been earned and placed in reserves. A report for the first two months of the fiscal year was also distributed for review by the Board members as well as a report that reserves are at the level of $242,000. It was agreed by the Board members to accept the financial report.
The next item on the Agenda was a report from the Grant Making Committee. There had been no grant applications received.
Mr. Goldenberg then gave a report on behalf of the Foundation Fellows Activities Committee. There were comments made about the participation by Foundation Fellows in the We, The People Program which teaches constitutional and legal principles to high school students in a debate competition. The Committee will be reviewing its participation in this event.
President Emch presented to the Board members a proposed 2003-04 Annual Report for the Foundation. After some comments were made, a motion was duly made, seconded and passed that the Annual Report be printed as presented and that it be distributed by placing it in an upcoming issue of The West Virginia Lawyer magazine.
Vice President File gave a report on behalf of the Nominating Committee. The Committee was recommending the Cheryl Riley of Wheeling be appointed to serve the remainder of the three year term of Jennifer Mason. A motion was duly made, seconded and passed to appoint Cheryl Riley as the new member of the Board of Directors with a term expiring in 2007.
President Emch led a discussion concerning future activities of the Bar Foundation. He asked that the consideration be given for a Board retreat for approximately ½ day to discuss future activities. There was agreement to hold such a meeting and it will be set in the near future. In addition, it was agreed that President Emch, Vice President File, Secretary/Treasurer Rose and Mr. Bowman would serve as a Committee to review the governing documents for the organization.
President Emch then announced that the next meeting of the Board of Directors would be on December 16, 2004 at 12:00 noon at the State Bar Center in Charleston.
There being no further business to transact, the meeting was adjourned.