Polaroid Retirees Association. E. Richard Rosenblatt, Secretary. Minutes of Board of Director s Meeting (delivered via )

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1 Polaroid Retirees Association E. Richard Rosenblatt, Secretary Minutes of Board of Director s Meeting (delivered via ) Meeting Date: June 8, 2015 Attendees: Richard Rosenblatt, Eric Thorgerson,Elizabeth Foote, Scott Osler(by WIFI), George Murray, Lucille Kelley, Touie Jackson, Bob Ruckstuhl, Robert Ganapathy, Mary Ann Hall, Arthur Aznavorian, David Bayer, and Bill Rosen Absent: Jim Grunst, Dick Gellis, Eva Karger, Al Clark, Edyie Johnson, 1. Call to Order: Eric Thorgerson, President of PRA, called the meeting to order at 9:00 a.m. 2. Election of Officers-Elizabeth Foote Proposed: President- Eric Thorgerson 1 st Vice President-George Murray 2nd Vice President-Touie Jackson Secretary-Robert Ganapathy Bob Ruckstuhl was elected chair of the Membership Committee. Votes were taken by secret ballot and the above were voted unanimously.

2 Scott is in the midst of a 3-year term as Treasurer. 3. Secretary s Report - Richard Rosenblatt Richard Rosenblatt reported that the minutes from May 11, 2015 meeting, and the minutes from the Business luncheon meeting on May 20 were sent via (with a copy sent to Lucille). A motion was made, seconded and unanimously supported to accept the May 11th and the May 20 th minutes as published. 4. Treasurer s Report- Scott Osler Attached is the P&L for May YTD, and we are tracking quite well towards our budget (using dues at $10K again). Very briefly, the Newsletter is about $300 favorable to budget, and the Luncheon ran about $200 unfavorable. All-in-all, we are in a good spot as we head into the summer. I have reactivated the "Full Year Forecast" column, and mostly the improvement over the original budget is due to the Newsletter costs. May 2015 P&L Report Full Year 2014 Actual Results Full Year 2015 Budget R#3+ May YTD Full Year Forecast First Look at 2016; Oh Wait - It is Way, Way Too Early INCOME Dues & Rosters $ 19,189 $10,000 $7,574 $10,000 Interest $ 31 $30 $18 $60 Plaque Fundraising $ 21,215 - $160 $160 Luncheon Prepayments $ - - TOTAL INCOME $ 40,435 $10,030 $7,752 $10,220 EXPENSES Newsletter $ 8,112 $8,000 $3,621 $7,242 Administration $ 2,426 $2,000 $881 $2,000 Plaque Expenses $ 17, Membership $ 1,077 $1,100 - $1,100 Lunch Subsidy May $ 1,380 $1,400 $1,243 $1,243 $ $ Program Subsidy May $

3 Lunch Subsidy Oct $ 1,483 $1,400 - $1,400 Program Subsidy Oct $ - $300 - $300 TOTAL EXPENSES $ 32,220 $14,500 $6,368 $13,908 Cash Increase (Decrease) $ 8,215 $(4,470) $1,384 $(3,688) May Reservations 222 Paid 250 Paid 208 Paid Oct Reservations 259 Paid 250 Paid Paid Plaque Multi-Year Summary: Life Members 179 Life Mem 180 Life Mem 181 Life Mem Donations $ 22,820 Expenditures $ 17,939 Balance: (If Loss) $ 4,881 Balance Sheet Notes: Total Assets DFCU) $ 30,912 $26,442 $32,296 Less uncashed checks: $ - - $270 Restricted Sutton Fund $ 7,750 $7,750 $7,750 Lifetime Member Obligations $ 12,800 $11,010 $11,010 Prepaid Dues Obligations $ 3,000 $2,500 $2,500 Updated in Dec Updated in Dec Available Assets: $ 7,362 $5,182 $10, Committee Reports a. Membership-Bob Ruckstuhl We have twelve new members this year. Dues are running ahead of forecast and could exceed the budgeted number by $2000 for a total of $12,000 for the year. We now have 1451 members and two new life members for a total of 181 life members.

4 Bob sent the board a list of 141 members who have not paid dues for two years. Several board members sent out reminders to thirty-four of them and nine sent us payments. Bob has proposed a three part plan to remind those remaining on the list. 1. Have various labels reflecting status of each member of the PRA.

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6 2. Bob will send out copies of the June newsletter with a reminder letter to the members who are two years in arrears. As this will be sent out first class, the board approved the cost not to exceed $250. Bill Rosen also suggested that our printer might be able to do this for less money and unburden Bob. 3. In October, Bob will assign each of the board members a portion of the remaining members, who are in arrears, to personally contact. This was set aside until the October meeting for review if necessary. b. Condolences-Lucille Kelley Two PRA members have passed away in May and June. 5. Newsletter-Bill Rosen Newsletter preparations are underway and the drop dead date is June 21. Bill made CD copies of the slides donated by John Hanson for those that wanted them. Elizabeth will check with MIT and Harvard to see if they want the original slides and if not they will be disposed of as we now have them on a disc. 6. Future Speakers We are all set with speakers for the October and next May s luncheons. Herb Crehan will speak in October about The Red Sox and his book will be on sale at the meeting with Herb graciously offering to donate $2 for each book sold to the PRA. 7. New business ZINK-It appears that ZINK has filed for bankruptcy just after our luncheon featuring some of their products. May luncheon-reponses were very positive from those attending. Only disappointment is that more of the members did not attend. Rolling calendar- Events for the summer months were reviewed as we do not meet again till September. PRA board meetings-dates for the meetings were set for the year September to June. We will be meeting on the second Tuesday with exception of September and December. Lantana-Since our attendance has declined, Lantana has requested that we consider moving our luncheon

7 to a small space where we would use the Calley and Normandy Rooms for future luncheons. The board did not see this as a problem and agreed to accommodate Lantana s request. Theme for the 30 th anniversary luncheon in October We agreed to tie together the speakers talk about the Red Sox and our close ties to the Red Sox with the celebration of our 30 year anniversary. Elizabeth and Lucille will help Eric in leading the effort to support this theme. It is a natural with Mal Trojano speaking as one of the founders of the PRA back in 1985 and Herb talking about the Red Sox. ACS Event-Eric spoke about the ACS event in August and said more details would follow. 8. Adjournment A motion was made, seconded, and approved unanimously to adjourn at am. Respectively, Richard Rosenblatt, Secretary DIRECTORS: All at the Chateau (9:00AM; Doors open at 8:45) (2015 Tuesdays) September 15, October 13, November 10, December 8, March 8, April 12, May 10, June 14 MEMBERS: Luncheons: May 20 (Wednesday); October 22 (Thursday): May 18, 2016 (Wednesday)