HomeMy Public PortalAbout160_020_fottminutes32014 Friends of the Tybee Theater
Regular Board Meeting
March 20, 2014
Present: Bill Blakey, Richard Adams, Paul DeVivo,Keith Gay,Charlene Grissom,Sarah Jones,Jim Kluttz,Sloan Knudson, Karen Penick,Rich
Rutherford,Dick Smith,Dan Turberville,and Rob Callahan(Council Liaison)
Absent: Rene DeRosset, Paul Gilker,Jenny Orr,Greg Stoffler and Alfie Waite
Invited Guest: Melissa Turner(Executive Director)
Call to Order: Jim Kluttz called the meeting to order at 4:57 pm.
Minutes: February 20th Board Meeting minutes were approved.
Building Update: We are still waiting for a final cost estimate to build the room behind the theater that will house the heating and air conditioning
system. We expect to have final plans next week on phase 2 and a cost estimate for that phase. By the end of April we should have all plans to JT
Turner and an estimate of the total cost for the entire project. Jim said that we would then need to have everyone put forward their questions
about how to proceed. We then should have a"building only"meeting to finalize a course of action to get a CO and have the theater open by year
end. We will obviously have to stage the full building plan based on available funding.
Fundraising Update: Jim indicated that the theater has been promised publically traded stock from donors who will remain anonymous. To effect
this the theater needs to open an account to receive the stock. Jim has had experience with Vanguard,a securities firm,for many years. Jim and
Bill Blakey have been authorized by the Board to transact on behalf of the theater at Vanguard.
Jim outlined the terms of our agreement with Kristin Boylston. The initial period will be 90 days with a review of progress at that time. The
expectation is that the full fund raising campaign to get the theater initially open will take about 6 months. Kristin will be involved in all meetings
with potential donors. She will be paid$500 per week. She has a major donor list which we will be using. Our goal is to raise about$500,000 in
this initial phase. The board approved the outlined terms.
Committee Reports:
Finance: Jim distributed the February 28,2014 balance sheet and profit and loss statement for the two months then ended. Alfie also distributed
a comparative profit and loss for the first two months of 2013 and 2014. Cash at the end of February was$99,000. Year to date ordinary income
was$21,000 reflecting revenues from the polar plunge,yard sale and what we have collected to date on the Wine Festival. There was a suggestion
that we have separate p/I statements by event.
Event and Activities Recap:
2014 Wine Fest: We have been able to add a dinner on Thursday evening at Tybees Social Clubas the dinner on Wednesday has sold out. After
discussion the Board approved printing the Wine Festival program in color this year. Last year it was in black and white. This will add about$800 in
costs. This is basically a marketing decision. Tent rentals will also exceed our original budget. We might save some cost by using a different
printer. Attracting restaurants for The Grand Wine Festival has been a problem. Sting Rays,Coco's and The Breakfast Club will not be participating
this year. Ticket sales are$23,000 as of today. Radio ads will start March 24`". We still need sponsors and auction items. We have 45 volunteers
signed up for this event.
Director's Report: Melissa discussed the weekly reports that she has been sending to the Executive Committee outlining progress on the Wine
Festival She also commented on the status of Festival events.
Other Business: The Tourism Council will pay$1,000 toward the glasses for the festival. Sandy and Charlie Brewer will provide for a fee the golf
carts to carry people from the parking area to the festival.
Adjourned: 5:50 pm.