Central Valley Kings Foundation Incorporated

A California Public Benefit Corporation

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Central Valley Kings Foundation Meeting

October 15, 2019

Minutes

  1. Come to Order by Marie Banuelos at 7:21 pm
  2. Roll Call: Joyce Taber, Marie Banuelos, Travis Denning, Santiago Banuelos, Terri Reyes-Beck, Bill Beck, Leslie Steffen, Maricarmen Moreno
  3. Financial Reports:  All got a copy of the Foundation closing report for the fiscal year 2018-2019 as well as the closing report for CVC Kiwanis year 2018-2019.
  4. New signature needed for Foundation Bank Account.  One signer is too far away, and one signer is tired up at work. Rationale is that a signature is rarely needed but sometimes it is difficult to get a signer as needed in a timely fashion.

Motion by Leslie Steffen to include Terri-Reyes Beck as a signed on the account.Second by Santiago Banuelos

Vote: Pass

  1. President Veronica Holmes will have the inventory for the Concession completed no later than December 2019.
  2. World Ag Expo Preparation:  Currently on hold.  President Veronica Holmes is manager of the Concession and we are waiting for approval to proceed. We have rental options if we do not man the Concession in February.  We are required by the Ag Center to open the Concession either ourselves or rent.  If we don’t open, we can rent, or they will rent it.
  3. President Veronica Holmes will deliver our cooking trailer and cooking materials to Santa Marie by December 2019.  The trailer housing has been arranged and an agreement is in process in exchange for housing our trailer for use by Santa Maria Kiwanis.
  4. Attendance:  Foundation meetings are only required 4 times a year. This is our first meeting for this fiscal year.  Our meetings for this fiscal year will be:

                        October 2019

                        January 2020

                        April 2020

                        July 2020

            We vote for new officers online June 15, 2020 for the 2020-2021 Year.  Because we only meet 4 times a year, it is essential that Board members be present at meetings to actively participate in discussions and the decision-making process. Proxy votes are unacceptable. E have one Board member who was not present all last year.  Marie Banuelos will check in with him to see if he will be attending meetings on a regular basis.  If he is unable to do, we will ask for a resignation so we can fill that seat.

            CVC Kiwanis members will be encouraged to attend Foundation meetings as the Foundation was created to benefit CVC Kiwanis.

  1. Purpose of the Foundation:  Central Valley Kings Foundation was once named Central Valley Kiwanis Foundation.  The purpose of the Foundation was to be the fiscal body for the Kiwanis Club, it was not intended to be an independent Foundation.  The articles were revised to make sure the Kiwanis Club would be supported and the CVC would have a 501(c)(3) instead of a (c)C4). The only reason the name was changed to Central Valley Kings Foundation was to protect property by the Foundation (Kiwanis). If anything should happen to the Kiwanis club, we wanted to ensure that property and funds would not be taken by the  Kiwanis District organization as required by the bylaws of Kiwanis.  Since the Foundation is not a “Kiwanis” foundation, our assets are protected. The Foundation is for the benefit of  the Coastal Valley Cyber Kiwanis to continue charitable work communities.
  2. Discussion about difference between 501(c)(4) and (c)(3).
  3. Adjourned 7:50 PM

Next Quarterly Meeting will be January 14, 2020