Page 37 - 2024 April report

BOARD OF DIRECTORS MINUTES (6) C. Executive & Finance Committee
Malcolm reported that the Committee had reviewed the proposed budget at its January and March meetings. The Committee recommends the approval of the budget. Otherwise, there had been little Committee activity, which continues to be a good thing.
D. Governance & Nominating Committee
Bill reported that the Committee affirmed recognizing Maridel Moulton in September for her years
of service to the Foundation with a grant to an organization of her choice.
The Committee reviewed the list of potential Director candidates and agreed that the current size of the Board is a good fit for the Foundation. The Committee needs to be looking ahead to the possibility of adding a one or two Directors in the next couple of years.
The Committee had agreed to look at some of the matters brought up in Lowell’s November 2023 survey, particularly the use of Board Consultants which is an unusual practice. That may be something that the Foundation transitions away from in the future, but for the present, the Committee is confident in the arrangement. Board Chair succession is another important matter including the related matters of the Board Chair as the Chair of the Grant Program Committee and the roles of the Board Chair and the CEO. It is likely that the Committee will meet this summer for continued discussions.
1) Re-election of David Blaikie to the Board.
David was excused from the meeting.
David had completed the self-evaluation form prior to the meeting, and it had been reviewed by the Committee. The Committee feels that David is a great analytical thinker; his comments at meetings are always insightful, and he is an excellent colleague. He is very thoughtful in his approach, and not afraid to express disagreement. The Committee met with David to further discuss his comments.
The Committee recommends re-election of David to the Board for another three-year term.
The Board unanimously approved the re-election of David Blaikie to the Board for another three-year term.
David returned to the meeting and was advised of the decision. 2) Re-election of Mike Miller to the Board.
Mike was excused from the meeting.
Bill reported that Mike had completed the self-evaluation questionnaire form prior to the meeting, and it had been reviewed by the Committee. The consensus was that Mike is an excellent board member, offering perspectives that others often don’t think of. His finance and investment expertise is invaluable to the Foundation, and he is extremely insightful. The Committee met with Mike to further discuss his answers. The Committee recommended re- election of Mike to the Board for another three-year term.
The Board unanimously approved the re-election of Mike Miller to the Board for another three- year term.
Mike returned to the meeting and was advised of the decision.
Education / A Powerful force for change Page 35