August 25, 2020 Executive/Finance Minutes
Date: Tuesday, August 25th, 2020
Time: 11:30 AM
Location: THINC Board Room
Present: Bill Stump, Ted Arnold, Jamey Jackson, Leonard Phillips
Others: Gerald Wyatt, Regan Mock
The meeting began at 11:30 AM.
- Welcome- Gerald Wyatt, THINC CEO
- P&L- Gerald Wyatt, CEO
- $8,580.69 disbursed in July, majority of the disbursements went toward audit fees, insurance liability premium and monthly accounting fees.
- Interest gained from certificates of deposit for July is $2,866.71 and $881 from KIA employee donations.
- $1,165,586 YTD carryover.
- $1,294,119 in future sustainability.
- $55,000 will reflect next month from KIA to be used for 3D printers.
- Randy Jackson balance is sitting at $79,365
- Audit- Gerald Wyatt
- Audit committee rep will discuss our 2019 audit in our Board meeting
- Strategies for Fundraising- Gerald Wyatt
- Difficulty visiting in the community due to COVID and aren’t able to bring visitors in house which is making face to face conversations challenging.
- Reviving and enhancing the original community support letter and sending to current and potential partners.
- Dr. Jane Robinson, former THINC instructor, is a grant writer. Plans to reach out to her to write some grants for THINC as an individual contractor.
- NCAC- Gerald Wyat
- Asked to present again this year, but it will be held virtually.
- Funds have been moved from travel since no conference travel is anticipated.