Nova Scotia Agricultural College

Foundation Board Meeting

Minutes

Thursday Dec 18, 2003

   1:00 p.m.

C.A. Douglas Room

Present: Chair - Dick Huggard, Len Ells, Sherry Porter, Bernie MacDonald, Jim Goit, Philip Hicks

By Phone: Margaret McCain

Regrets: Laurie Hennigar

1.         Approval of Agenda

             The agenda was approved as circulated.

 2.         Introduction of Dr. Hicks (Approval as President)

As Dr. Coffin had retired from the NSAC there was now a vacancy for the position of President of the Foundation. Dr. Coffin had been replaced at NSAC by Dr. Hicks. It was moved by S. Porter and seconded L. Ells that Dr. Hicks be confirmed as president of the NSAC Foundation. Carried.

 3.         Approval of Minutes -May 28, 2003,

The Minutes of May 28^th were highlighted by Jim and the approved as read.

4.         Matters arising from the Minutes:

            a.         RBR Proposal ( JG)

The proposal from RBR had been circulated as a result of a meeting they had previously had with the board. Jim pointed out some of the highlights in the proposal. They were suggesting that the foundation invest in additional research of campaign readiness and begin a process for major gifts cultivation. There was discussion as to the state of institutional preparedness that currently existed and Jim pointed out that although we had come a long way things were still not stable in the development office and the implementation of the donor management system would have to be the priority for the next 6-8 months at least. There was also an issue of cost. NSAC currently had other priorities in focus on in the short term. It was decided to table discussion until a future meeting. Jim would continue to have discussion with RBR as well as other consultants in this area.

             b.         Membership Update (JG)

Jim reported that we would have three members terms expiring in November of 2004 so while there was still time yet, members should consider if they wanted to re-offer themselves or if they had other names of individuals in mind. Margaret indicated that she had approached a potential person already and information would be forwarded. Jim would follow up with that person. It was decided that we would begin the process after the annual meeting in the spring.

            c.         Investment Committee report (BM, DH)

The investment committee report was tabled for the board. In summary the committee felt comfortable in recommending a slight re-balancing of the investment portfolio to include more foreign and US equities into the mix. There was also need to extend the bond ladder to accommodate issues that were coming due in the short term. This could all be done with the present investment policy. All agreed and the report was accepted.

             d.         Directors’ Liability (BM)

The issue of Directors liability was discussed. Dr. MacDonald did not have a definitive opinion from our solicitor yet but felt he would very soon. A report would be presented at the next meeting.

5.         New Business:          

            a.         Donations Update (JG)

Jim presented a brief update on the donations to date. He reported that we were significantly ahead of previous years and the donations were still coming in. He felt that we would see over $300,000 donated this fiscal year compared to just over $200,000 last year. He reported that the size of the gifts were increasing and that our mail appeal was showing good results.

             b.         Relationship with NSAC Alumni Association (Jeff Morton – Dick Huggard)

Jeff Morton, president of the alumni association had joined the meeting. He and Chairman Dick lead a discussion on the relationship between the Association and the Foundation. Given the increase in activity of the Development office at NSAC, the Association had been reevaluating its traditional role in the fund raising and fund management area and were considering increased emphasis in helping NSAC in other ways. It was agreed that the dialogue between the two organizations needed to continue. Jim and Jeff would confirm ways to streamline operations and serve everyone’s needs.

             c.         Alumni and Donor Information Management System (JG)

Jim reported that the development office team was working hard to get the new alumni and donor management system ready for live use early in the next fiscal year. This project was part of the much larger Student information system that NSAC was involved with and it was taking a major effort from all concerned to do what was necessary. All the alumni information would have to be entered manually as would the three years of donor information. The results would be worthwhile however and we could certainly not keep going in the manner we had been.

             d.         Centennial Planning

 Jim reported that the planning for the celebrating the centennial of NSAC in 2005 was underway. There would be events and materials that might have fund raising potential. Foundation members were encouraged to participate if they had a chance.

 6.         Date of Next Meeting:

 The next meeting would be our annual meeting and would be at the call of the chair once the financials had been completed. The meeting would likely be sometime in June.