CORSICA FOUNDATION BOARD MEETING MINUTES

SPECIAL MEETING MARCH 26, 2007

THE CORSICA FOUNDATION BOARD MET ON MARCH 26^TH FOR A SPECIAL MEETING WITH THE FOLLOWING MEMBERS PRESENT: ROGER BORDEWYK, SCOTT MUCKEY, NATHAN HINKER, GARY VAN ROEKEL, SYLVIA ZOMER, DICK BORDEWYK, AND ROSE LAUCK.

TREASURERS REPORT INDICATED OUR CURRENT FINANCIAL STATEMENT WITH A BALANCE OF $50,000.00.

PRESIDENT ROGER STATED THERE WAS ABOUT $100.00 IN CHECKING WITH ABOUT $10.00-12.00 RECEIVED FROM COMMERCIAL CLUB DAYS ON 3/24/07. BOB SUTTON WILL BE HERE AT NOON ON APRIL 11, 2007 TO PRESENT A $12,500.00 CHECK TO THE CORSICA FOUNDATION. HE WILL ALSO BE SPEAKING ON HOW THE FOUNDATION GROWS. BOARD MEMBERS ARE ENCOURAGED TO INVITE FORMER DONORS AS WELL AS ANYONE INTERESTED IN HOW THE FOUNDATION WORKS.

IT WAS NOTED THAT UP TO THIS POINT THE HOESTRA/BEUKLEMAN SCHOLARSHIP FUND WAS 1/3 OF THE TOTAL FUNDS IN THE FOUNDATION WITH 2/3 OF THE FUNDS BELONGING TO THE FOUNDATION .

AVERAGE RETURN RATE AT THIS TIME IS ABOUT 8% WITH 5% BEING ABLE TO BE USED FOR COMMUNITY PROJECTS. THE ADDITIONAL 3% IS RETAINED FOR FUND GROWTH.

PRESIDENT ROGER HAS PLACED A LIST OF DONORS ON THE INTERNET INTO VARIOUS LEVELS OF GOLD, SILVER & BRONZE. THANKS TO PRESIDENT ROGER FOR HIS DONATION OF POSTAGE FOR EARLIER MAILINGS.

THE MEETING WAS DECLARED ADJOURNED BY PRESIDENT ROGER AT 7:45 A.M.

THE NEXT REGULAR MEETING DATE IS MAY 11^TH, 2007 AT THE CORSICA TRAVEL PLAZA. THE MEETING WILL BEGIN AT 7:00 A.M.

Scott Muckey, Acting Secretary