Minutes of Pre-Organization Meeting of Corsica Area Community Foundation (CAF)

A Pre-Organization Meeting for Corsica Area Community Foundation (CAF) was held at the office of Farm Bureau Insurance Agency in Corsica, South Dakota, 57328 on Thursday, March 23, 2000.

Those present were: Gary Van Roekel, Vern DeGeest, Tom Gerlach, Roger Bordewyk, Dick Bordewyk, Sylvia Zomer, Cheryl Van Zee and Barb Braley.

Those present discussed the need to organize the Corsica Area Community Foundation as an avenue for charitable giving. Roger Bordewyk discussed with those present to consider appointment to the Board. Roger Bordewyk is Acting Chairman and was asked by the Corsica Development Corporation to start this Foundation

A motion was made by Dick Bordewyk to organize Corsica Area Foundation Fund or CAF, said motion was seconded by Vern DeGeest, motion carried.

The following discussion took place:

The matching funds were discussed and the requirements of the South Dakota Community Foundation do such matching. If goal not reached, still use money that was placed into fund by CAF, but SDCF will not match. This is based on a three year period. Roger Bordewyk told group that there already has been a $10,000.00 donation. Discussed that the Board doesn’t have to specify to SDCF which goal hoping to achieve. Discussed number of Board of Directors needed. Reviewed Bylaws. Discussion was had as to whether Barb Braley could be a Board Member due to her position as attorney, which may involve client confidentiality. Decided that role of Barb Braley will be to take minutes for the interim.

Discussed that donors will be given options by attorneys hired by SDCF and will be able to have their own attorneys prepare necessary documents.

Discussed the need for group to review Bylaws before adopted.

Discussed need to contact other organizations to see how they are doing this. Roger Bordewyk discussed Legion Memorial as a comparison to the ability to have many people run this organization.

Discussed need to get a lot of involvement. Suggested that each Board Member head subcommittees who may not necessarily be members. Roger Bordewyk will get other Bylaws from other organizations.

Discussed need to elect a Board prior to adopting B-Laws and signing documents.

Discussed that the foundation should be advertised.

Discussed how far the contributions should be accepted, i.e. within Corsica or extending to New Holland and Harrison.

Discussed need to make it clear that the first $50,000.00 represents undesignated money, so as not to tell donors that they can put money wherever they desire.

Discussed that once $50,000.00 is reached by CAF and matched by SDCF, then can designate funds. Therefore, don’t exactly want to solicit designated funds.

Discussed need to have Bernie Christiansen explain more of what Board should do to become organized.

Dick Bordewyk expressed that our first goal should be to achieve $50,000.00.

Dick Bordewyk moved to adjourn meeting. Second by Vern DeGeest. Motion carried.

Next meeting is Thursday, April 6, at 7:30 PM at the office of Farm Bureau Insurance Agency in Corsica, South Dakota.

There being no further business to come before the meeting, the meeting was adjourned.

Acting Secretary, Barb Braley.