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Home My WebLink About11/27/2018 - Minutes r r r r r r RENTON HISTORICAL SOCIETY BOARD OF TRUSTEES RENT�N HISTORY November27,2018 MusEUM Attending: Colleen Lenahan, Jessica Kelly, Lynne King, Betsy Prather, and Elizabeth P. Stewart Absent and excused: Laura Clawson, Antoin Johnson Guests: Shane Klingenstein Call to Order In the President's absence, Vice President Colleen Lenahan called the meeting to order at 5:37 PM. Public Comments Information Edward Jones representative Shane Klingenstein updated the Board on the state of the endowment. Shane and new Treasurer Jessica Kelly will meet with outgoing Treasurer Laura Clawson once Laura has recuperated, to ensure that Jessica is fully informed on past finances, policies, and procedures. He reminded trustees that he is always available to them. He provided several informational hand-outs including a revenue-sharing disclosure about fees; a "tide chart," showing the ups and downs of the stock market over time; the "jelly bean chart," demonstrating that diversified investment creates the most stable returns; and hand-outs on "timing the market" (don't try) and how long to hold financial documents. The Historical Society's current fund balance is$3.6M, with $836,000 (23%) in fixed income and $2.7M (77%) in equity; these investments are within the parameters set up the Endowment Policy. Lynne King asked Shane to explain what "aggressive" means. Shane replied that bank loans to small businesses are one example; they are a little more risky, but they're good when interest rates are going up. (4% of our equity is aggressive.) Shane said that the American economy may be in line for a recession, as the Federal Reserve raises interest rates to slow the economy and dampen inflation. Liz Stewart asked Shane to outline what will happen when the Historical Society needs to start drawing the interest on the Endowment, after the Custer Fund at the Renton Regional Community Foundation has been depleted (currently$180K). Shane explained that he will work with the Treasurer to keep three years of operational supplement easily accessible, so that he's not liquidating funds at a disadvantageous time. Board Communications Information Trustees briefly discussed the resignation of Pete Kalasountas whose job duties recently increased. All were sad to see him go. Recruitment will be a topic for discussion at the January Board meeting. Betsy Prather took on the thank you notes for October-November. 2 Correspondence Information Liz outlined a letter and report received from EBI Consulting asking for comment on a planned cell tower to be constructed in the Benson Hill area. The Renton Historical Society is an interested party in terms of the projects impact on archaeological or historical resources. Liz will scan and send to all Board members, in case they feel a comment is necessary. Consent A�enda (Vice President) Action Item A quorum was present. Jessica made some minor changes to the October minutes, correcting the names of endowment funds; Liz made the changes in the final minutes. • MOTION:Jessica Kelly moved to approve the consent agenda as amended, and Lynne King seconded. Motion passed, none opposed, none abstaining. Old Business Action Items (1) Committee reports: Strategic Plan: Liz distributed a list of three top-level goals and action items underneath, as developed by the Strategic Plan Committee and the Board retreat. Trustees discussed the fact that such a small Board may have difficulty completing an extensive task list, but all agreed that a strategic plan was still necessary. Colleen Lenahan asked whether more concrete goals could be formulated with quantifiable results. Jessica suggested that responsible parties and benchmark dates should also be included. Trustees agreed that the January Board meeting should be set aside for work on the Strategic Plan, rather than trying to delegate it to a smaller committee. Liz will plug draft goals into a chart with dates and responsible parties before the meeting. Discussion Action Items (1) 2019 budget draft: Liz introduced the 2019 budget draft she had distributed before the meeting. 2019 represents the 3rd year in a row that we are planning for a deficit; previous two years' surpluses cover the shortfall, but we shouldn't get in the habit of running at a deficit. Liz cautioned that Board that yearly salary increases will squeeze the Museum's ability to meet its mission without greater fundraising. But the Museum has two new revenue lines—curricula rental and contract services relating to historic preservation—and Colleen suggested a second general appeal fundraising letter in March or April. The Finance Committee also set a slightly higher goal for the fall fundraiser, at $25,000; more sponsorships and ticket sales could help with that. Cost savings include closing out the lease of a second printer-copier, which is now unnecessary. Board members have two weeks to consider the budget before a December 11 vote. (2) Holiday Potluck: Colleen Lenahan will host the annual Board Holiday Potluck at her home at 316 Meadow Ave N on Tues., Dec. 11 at 6 pm. Liz circulated a sign-up sheet at the meeting. Mission Moment Information There was no Mission Moment. 3 Adiournment Lynne King moved to adjourn, Liz Stewart seconded. Meeting adjourned at 6:40 pm. Elizabeth Stewart for Antoin Johnson, Secretary Renton Historical Society 4 2019 BUDGET NOTES Compiled by Liz Stewart 23 November 2018 Summary: On the attached budget you will see that we are predicting our third year in a row with a deficit.The budget surpluses from 2015 and 2016 do cover these total deficits, but we will need to plan for either increasing revenue in 2020 or reducing operations to stay within budget. Salary increases represent ongoing increased expenses. Extra one-time expenses in 2019 include:the Historical Society's share of grant-funded projects to replace exterior signage and collections shelving; a contract program director for Renton History Live! 2019; and conference registration fee for Director's attendance at the American Alliance of Museums annual meeting. Cost savings include ending the lease contract of a second copier-printer; new revenues include contract exhibit creation for the Low Income Housing I nstitute. REVENUE #1.31 New revenue line for income from educational curricula ($6600 for 2018—2020).This represents a growth area for Museum income. #1.32 New revenue line for income arising from the requirements of the city's new Historic Preservation ordinance.This represents a growth area for Museum income. #1.60 Budget is predicated on slightly higher fundraising income, from a proposed direct appeal, a concerted effort to attract program sponsors, and/or higher earnings from 2019 annual fundraising event. #1.75 Supplemental operating income remains at$50,000. Draw could be increased to close budget gap, if that is the Board's preference. #1.80 Grant income will include:4Culture Sustained Support, Equipment, and Building 4Culture (already secured), as well as The Next Curve (not yet secured). EXPENSES #3.290 End of lease for 2nd printer/copier results in a $2000 savings. #3.60 Renton Historical Society's share of grant-funded facilities improvements projects (new collections shelving at offsite storage and new exterior signage). #4.49 Salaries and payroll taxes with a 2% raise (partial year for Public Engagement Coordinator; full year for Curator) #4.56 Program presenters #4.60 Budgeted slightly higher to cover Liz's participation in a panel at the AAM Conference, and Sarah's at Washington Museum Association 5 MUSEUM REPORT For October 2018 Compiled by Elizabeth P. Stewart, Director Sarah Samson, Collection Manager Kate Dugdale, Public Engagement Coordinator Nezanet Tewolde, Museum Office Aide Operations Visitors in October: 217 Visitor numbers reflect members and researchers as well as paying visitors. There were no tours during this period. Administration Grants: In October Director Liz Stewart submitted grant applications to The Next Curve and 4Culture's Sustained Support program. The Next Curve grant would partially fund next summer's Renton History Live! program, enabling us to bring back Kim Owens to direct the program from April through July. The Sustained Support program requires a bi-annual application to continue receiving operating support; in 2017 and 2018 we received $14,000 each year through this program. Liz also filed the final report and invoice for 2017 Sustained Support. Coming up is a grant application to the Votes for Women Centennial Grant program through the Washington State Historical Society. This grant would enable us to create What Difference Do Women Make?, a 2020 exhibit commemorating women's suffrage by exploring women's effects on Renton's public life throughout history. Strategic Plan Committee: Staff inembers Liz Stewart and Sarah Samson wordsmithed results of the Board retreat and the Strategic Plan Committee's meeting to develop top-level goals and action items. After Board review, we will share these with the Volunteer Committee, and move forward based on recommendations from both. We still hope to get the completed by late December or early January. Exhibits Ongoing: On the Battlefront& the Homefront:Rentonites in the Great War: Programs promoting our WWI exhibit continued through Sunday, November 11. 6 Switchboards to Selfies exhibit: Curator Sarah Samson redoubled her efforts to bring Switchboards to Selfies to completion on time when our team of UW students disengaged; we have discussed ways to institute more checks on students so that staff is not scrambling to cover their responsibilities. She completed design and �t111�'1,,, � submitted all panels for production in October.The ` _ _ � �� exhibit was installed on time and the UW students did „ �-��,�-��d.=9�� - assist with installation. Switchboards to Selfies includes numerous interactives that kids have already enjoyed trying out. DearFriend exhibit: Liz Stewart researched and wrote the Dear Friend exhibit to substitute when the Cry Out! teen program had to withdraw from a planned exhibit. Dear Friend complements Switchboards to Selfies by exploring the many different reasons Rentonites have written letters throughout history, using many quirky and unique letters from our collection. Letters range from an 1861 letter written on stationery depicting the "Great Naval Engagement at Fort Wright," to a WWII-era letter informing a mother that her soldier son was missing, to a 2015 letter to the future from a Renton High School yearbook editor. Both Dear Friend and Switchboards to Selfies will be on display through April 27, 2019. Pro�rams and Outreach `� " �-' � "Knit Your Bit": On Sat., October 13 we hosted our first fall � - - �� * program related to the On The Battlefront& the Homefront 1 �� .�� :, exhibit. "Knit Your Bit" was designed to be an opportunity for a � >- special interest group—knitters—to find their place in history w;�„�, � � K ;;� � with a brief program and then enjoy a social opportunity to , `.�� , share their work. The event opened with a brief presentation �I` � � � � by Liz on the role that knitters played during WWI, providing ',�,- � garments for soldiers in the trenches. After the presentation, f:.. : knitters sat and worked on their projects, sharing their �� techniques, accomplishments, and interest in the history of knitting. It was one of the most diverse audiences we've ever hosted, including an African American man, and most of the participants had never been to the Museum before; they heard about the event through our co-sponsor, Makers' Mercantile, which also provided 20 knitting kits. Other WWI programs: On Thurs., October 11, historian Lorraine McConnaghy presented "Washington at War: The Evergreen State in WWI," courtesy of Humanities Washington. Her program consisted of a 30-minute basic talk on Washington's WWI history and then the audience had a chance to participate by reading a script McConnaghy had developed about WWI. On Sunday, November 11 we tried something new, keeping the Museum open for special 7 Veterans Day/Armistice Day hours, with hourly mini-gallery talks about the exhibit. Unfortunately, the event was very poorly attended, with only four visitors in four hours. "Takes That Go Bump in the Night": On Sat., October 27 we hosted storyteller Anne Rutherford with her spooky Halloween tales.This program is always a crowd-pleaser, with a tie-in to the Olde Fashioned Halloween Fair across Main Avenue starting afterward. Thirty adults and kids attended. i � Collections � � � �_ _ � � , �` � Collections progress: In October volunteer Tom Monahan and his `" " � �.> mother Nancy donated two photos of his grandfather, Umberto �> � . - ��. . Barei, in WWI, as well as his WWI discharge papers. These help build � �� _ —'*'�� . 'w��! � � -� ,��.. �� our WWI collection, and the donation was a direct result of the WWI �� j exhibit. � � ,�� . ��►�'�.- v�� t In October, Curator Sarah Samson prepared our deaccessioned � ` ` ; ` r �_ � .-- objects for auction at Mroczek Brothers' auction house. Proceeds ' t �i —� will benefit the collection by being earmarked for acquisitions and su lies. �� pp �.� � �.1. . Volunteers Volunteer Committee: On November 5 the Volunteer Committee hosted a field trip for volunteers to the King County Board of Elections on Grady Way. Ten volunteers and staff attended, taking a fascinating guided tour above the vote-counting action. The tour was an excellent example of civic education and value added for our volunteers, and we will plan another Elections Board tour in 2020, one that is timed to be convenient for teen volunteers as well. Volunteer Program: In October 24 volunteers contributed 135 hours of service, on Saturday greeting, Board service, oral histories, collections projects, and exhibit prep. A prospective trustee, Mara Fiksdal, attended our October Board of Trustees meeting, and Liz followed up with an application. We are hoping she will return the application soon. 8