Trustee Affairs & Audit Committee Meeting March 13, 2014 Todays - - PowerPoint PPT Presentation

Trustee Affairs & Audit Committee Meeting March 13, 2014

Today’s Agenda: Discuss Method & Timeline of the Board Self-Evaluation Project Discuss Retiring Trustee Recognition Grants for Pam Beardsley & Ted White Other Business & Next Steps

2014 Trustee Affairs & Audit Committee Annual Calendar 1st Quarter (03/13)

• Select Method / Timeline for Board Self-Evaluation

2nd Quarter (07/10)

• Auditor Financial Statements and Tax Return Report Presentation
• Auditor Selection
• Launch Board Self-Evaluation

3rd Quarter (9/17-21)

• No Committee Meeting, but Nominating Committee Meets sometime

during 3rd quarter

• At Board Retreat:
• Review Results of Board of Trustees Self-Evaluation with entire Board?
• Announce Officer Nomination Process open for positions of Vice Chair,

Secretary, Treasurer (Current Chair Term active through 2016) 4th Quarter (12/03)

• Review of 2015 Committees
• Elect 2015 Officers
• Set Committee Goals for 2015

Board Self-Evaluation Method Attribute Matrix

Options Estimated Fee/ Cost Committee Time Process Overview Customization Options Pros Cons Internal $0 Substantial

• Review samples and

refine survey questions

• Determine & delegate

administration by Committee Members Substantial

• Cost is

minimal

• Significant time for

Committee / Staff

• Trustee and a

resource of his/hers needed for administration & analysis Consultant $5,000 Moderate

• Committee to review

proposals, conduct interviews & select consultant

• Additional meetings

with consultant to determine project scope Substantial

• Customized
• Analysis

provided

• Follow on

support if needed

• 3rd party to

administer

• Significant cost
• Maybe more

extensive solution than needed Board Source $750 Minimal

• Provide emails to

BoardSource and Trustees to complete

• nline survey
• BoardSource to

provide report &

• ption for additional

consulting if requested Minimal

• Minimal cost
• vs. time
• Middle ground
• 3rd party to

administer

• Option for

additional consulting support, if needed

• Less customization
• ptions

Trustee Service Recognition Grants

• Prior to 2009, the Board would make a grant of up to $500,000 to a

Colorado nonprofit organization in recognition of 15 or more years of service to the Foundation by a Trustee. This protocol will continue to be honored for Trustees who joined the Board prior to 2009 (Ted White, Pam Beardsley, Ann Penny, Thom Williams, Don Woods, Ted Schlegel).

• When implementing the new Trustee term structure which enlarged

the Board and reduced term lengths, the Board decided that Trustee Service Recognition Grants may be awarded at $25,000 per year of service, at the end of a Trustee’s term. The Board will designate these special grants toward projects that fall within the Foundation’s grantmaking guidelines.

Trustees Service Recognition Grants for Ted White & Pam Beardsley

Ted White – Rocky Mountain Institute Headquarters in Basalt