Page 38 - 2025 February report

Executive & Finance Committee minutes (draft)
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EXECUTIVE & FINANCE COMMITTEE MEETING THURSDAY, JANUARY 23, 2025 @ 9:30 a.m. EST via Zoom
Members Present: Malcolm Macleod, Bea Awoniyi, Sherry Salway Black, Bill Corwin, Robert Krause (non-voting)
Others Present: Tommy Pence, Sharon Wood
1. MinutesoftheMarch17,2024andApril4,2024meetings Minutes were approved as presented.
2. MattersarisingfromtheMinutes There were no matters arising.
3. Draft2025budget
Bobby opened by noting that the 2025 budget is slightly less than the 2024 budget. He then asked
Tommy to highlight items of the budget.
Line 16 – Deferred Compensation – The final installment of Malcolm’s deferred compensation agreement had been funded in 2024, however because money had been held during 2024, interest had accrued. That payment in 2025 will complete the agreement.
Line 23 – New Program Officer – The new Program Officer has been identified. Her start date will be February 18th.
Line 30 – Medical Insurance – This reflects the addition of the Program Officer as well as the United HealthCare rate increase.
Line 45 – O-1 Visa – The US government approved Malcolm’s Visa, so we do not anticipate any additional legal fees for this.
Lines 56 – Grant Portfolio Study – This concept is an outgrowth of the December discussions with Bobby. The scope and potential consultant for this have not yet been determined.
Line 78 – Travel, conferences and meetings category - This increased total reflects that there will be a convening this year, a new cohort of Discovery Associates has been recruited with an in-person meeting scheduled for this month, and September meetings in Alaska will likely be more expensive.
Questions from the Committee:
Lines 67, 69 and 70 – These reflect the fact that we had budgeted for a new Indigenous Consultant who did not come on board in 2024 and thus travel with Rick. Also, the endowment accounting work was not as robust as anticipated in 2024 and will likely be primarily in-house going forward. Part of both lines 67 and 70 include January 2025 payments for 2024 invoices submitted in January.
Line 96 – Licenses Photo – Bobby explained that we do not have the right to use the photo of Mr. Johnson sitting in a UPS truck talking to children. Malcolm pointed out that we had an agreement with the photographer in 2005 when we used it for the cover for our Annual Report. Upon review, that agreement was for one year on the homepage of the website and on that cover of the Annual Report within our website. Bobby would like to have the ability to use it on our website or possibly in other publications. We have been negotiating with the photographer through his agent to obtain the rights to photo. Discussions range from $5,000 to $10,000. While agreeing that no one else would want to pay anything for this photo, it is the property of the photographer. Bobby will continue negotiations with hope of paying $5,000.
Line 62 – PACKS Program Consultant – This program, that never really got off the ground with Florida Atlantic University, does not align well with our newly adopted mission. Bobby called the consultant to advise her of the decision to sunset the program.