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HomeMy WebLinkAbout05/26/2020 - Minutes RHS Minutes_052620_approved Page 1 of 2 RENTON HISTORICAL SOCIETY BOARD OF TRUSTEES May 26, 2020 , 2005 , 2005 , 2002 Attending: Colleen Lenahan, Doug Brownlow, Laura Clawson, Jessica Kelly, Lynne King, Mike Lennox, Betsy Prather, and Elizabeth P. Stewart. Absent: Rhea Kimble Visitors: Shane Klingenstein, Edward Jones Call to Order, Intro, Guest Speaker President Colleen Lenahan called the meeting to order at 5:30 PM. The meeting was held remotely due to the Coronavirus pandemic. News, Updates, and Public Comments Information (1) Guest Speaker: Edward Jones representative Shane Klingenstein discussed the last few months of market activity, including the significant dip at the end of the first quarter and subsequent market recovery from actions of the Federal Reserve and the CARES Act. Speculation is that long term balances are expected to remain strong, although the next year may be a bumpy ride. Shane is confident that id the Board needed to take a draw from endowment interest this year to offset losses, we would not notice it in another year or so. Board agreed to have Shane return in September or October. (2) Opening Question: Colleen Lenahan asked, “What is one thing you’ve learned about yourself during Coronavirus?” The group discussed. (3) General updates:  Elizabeth Stewart is currently working on a draft reopening plan for the Museum and will provide a draft for discussion at the June meeting.  Museums can reopen in Phase 3 of the Governor’s reopening plan; this will most likely be in July. Review and Approval of Minutes Action Item Board meeting minutes for the April 2020 meeting were reviewed. Jessica Kelly requested a wording amendment for clarification.  MOTION: Lynne King moved to approve April minutes as amended; Laura Clawson seconded. Motion passed, none opposed, none abstaining. Work session Action Item (1) Replacing lost income during closure: Jessica Kelly provided an update regarding making up revenue lost during the shutdown.  New contributions from Giving Tuesday, a grant from 4Culture and the Paycheck Protection Program funds will help to close the gap, but the fully extent of the shortfall will depend on the length of the shutdown. RHS Minutes_052620_approved Page 2 of 2 RENTON HISTORICAL SOCIETY BOARD OF TRUSTEES May 26, 2020 , 2005 , 2005 , 2002  Jessica Kelly is going to run some scenarios regarding potential needed payback of PPP funds.  Elizabeth Stewart shared a link requesting Board members reach out to Rep . Adam Smith to advocate for a bill that will allow more flexibility in the use of PPP funds. (2) Staffing: Given reduced income and City furloughs, Elizabeth Stewart distributed three options for staffing the reopened museum before the Board meeting. She outlined the staffing scenarios that were presented and discussed at the Executive Committee meeting. Despite the extra costs, the Executive Committee was very supportive of keeping the Museum fully staffed, by continuing to employ the Volunteers and Member Liaison (to replace the Museum Office Aide furloughed by the City) and refilling the Public Engagement Coordinator position. This may require additional funding from investment balances. The full Board agreed that this is the idea scenario. (3) Fundraiser: Jessica Kelly discussed ideas for an online fundraiser, including potentially moving up such an online fundraiser to August 2020. Ideas are being developed for an hour of programming. (4) Annual Report: Elizabeth Stewart provided an update on the drafting of the annual report, which will be ready at the usual time in early June and distributed with the June quarterly newsletter. (5) Human Resources Policy: Jessica Kelly shared that she has been working on a Human Resources Policy for the Museum. Mission Moment Information Elizabeth Stewart shared some Facebook posts on the 40th anniversary of the eruption of Mt. St. Helens, including stories shared by Facebook followers. Adjournment _____ Laura Clawson moved to adjourn the meeting, Elizabeth Stewart seconded the motion. Meeting adjourned at 7:00 pm. Doug Brownlow, Secretary Renton Historical Society