Nova Scotia Agricultural College Foundation

Board Meeting

Wednesday, January 5th, 2005 11:00am. C.A. Douglas Room

Present: Len Ells, Dick Huggard, Philip Hicks, Jim Goit, Sherry Porter and Stephanie Rogers

Regrets: Laurie Hennigar

Special Note: Jim Goit will draft a Letter of Thanks to be sent to Margaret McCain, under Philip’s signature for her service to the NSAC Foundation Board.

1. Approval of Agenda
On motion by S. Porter/L. Ells, the agenda for the meeting was approved as circulated.

2. Approval of Minutes -June 17th, 2004
On a motion by S. Porter, after the correction of a couple of typos, were approved.

3. Matters arising from the Minutes
a. Membership Update (JG)

S. Porter and D. Huggard are eligible for reappointment for a second term and the process in ongoing to put their names forward. M. McCain has finished her second term and is not eligible for re-appointment.

Margaret had forwarded the name and profile of one individual who is interested. Mr. Darryl Peck is an alumnus who lives in the Toronto area and is experienced in fund raising. It was pointed out that there were a number of other potential candidates that should also be approached.

Action: J. Goit will approach the local candidates

b. Transfer of Funds by Alumni
J. Goit met with Association President Jeff Morton and Treasurer Mike Kittilsen regarding the draft agreement for transferring of Alumni Association funds to the Foundation. Some suggestions were made and will be incorporated into the agreement. The Alumni Association is supportive and it is expected that the final agreement will be completed and signed by Spring.

c. Minutes of October 5th, 2004.
J. Goit reviewed the Minutes of October 5th, 2004.

P. Hicks provided an update on the Distance Learning initiative. Must raise $400,000 - $500,000 and will access matching funds through ACOA, EDA and so on.

On a motion by S. Porter/L.Ells, Minutes were approved.

d. Matters arising from the Minutes of October 5, 2004
Auditor: A Request for proposals was sent to five firms and two responses were received. D. Huggard, J. Morton, B. MacDonald, Rod MacLennan and J. Goit reviewed the proposals. As Price Waterhouse Coopers provided a five-year guarantee on their fee, their proposal was accepted.

Strategic Planning - A meeting was held October 5th, with RBR Development Associates. J. Goit has begun preliminary planning on the phone campaign and major donor research.

4. New Business:

a. Investment Committee
The Committee recommends no changes to the current investment policy.

b. Terms of Reference
The Alumni Association would like to have a presence on the Foundation Investment Committee and an amendment was made for the inclusion of an Association Executive member on the Investment Committee. An amendment was also included that states that Investment committee appointments are for a period of three years and can be extended for two additional terms.

The Investment Committee recommended that the changes be accepted

On motion by S. Porter/L. Ells, Amendments accepted

On motion by S. Porter/L. Ells, Amended Investment policy and standards was accepted.

c. Donations Update (JG)
Since 2001-2002 the NSAC Foundation has passed the million dollar mark in donations. The office has received $416,385.28 to date this fiscal year which surpasses last year’s total.

Major Gifts prospects
J. Goit presented a list of top individual and corporate donors from the database as well as potential from survey of NSAC staff and Faculty.

Phone Campaign
J. Goit is working with RBR on the Phone Campaign which is set for early in the New Year.

d. Centennial Planning (JG)
J.Goit gave a brief update on program planning for the centennial celebrations including the Canada Post stamp unveiling in February, Cox Field Amphitheatre project, a proposed special concert series for the summer of 2005 and the Heritage Contest and the Colchester Historical Museum Display.

6. Date of Next Meeting:
No meeting date was set.