The Muto Foundation

Guy Muto Memorial Scholarship Fund

Board of Directors Meeting

Minutes: March 30, 2007

The meeting was called to order at the Long Beach Renaissance hotel lobby at approximately 3 pm by President Bob Fowler.

Those present were :
President,Bob Fowler
Treasurer, Bill Storm
Secretary, Toni Storm
Board members, Jon McArthur, Paul Grimes
Guest, Kathy Grimes

Treasurer reported we have in Vanguard Securities, $78,907.53
In a savings certificate at World Savings, 20,581.00 and in checking at World Savings $1, 873.26.

President Fowler reported that our Vice President, Jerry Mazines has sent a letter of resignation from our board of directors. Mr. Storm made a motion and Mr. McArthur seconded that we accept his resignation. It was approved unanimously by the board. The same gentlemen nominated Jon McArthur to fill the Vice President position. He was elected unanimously. The Secretary will write Mr. Mazines a letter thanking him for his previous service.

Mr. Storm and Mr. McArthur motioned to add Kathy Grimes as a board member. When she accepted the nomination, she was elected unanimously.

Going back to the discussion of the finances, a discussion was held concerning placing the check writing account funds into the Vanguard account. Since we are currently being charged a monthly fee of $12 for the checking account, it was agreed that the interest on the monthly deposits would be more lucrative in the larger account. A vote was held on the discussion's idea and it was approved.

A discussion was held on ideas to generate more money for the endowment account. Mr. Mc Arthur proposed we put coin jars in supply branches, such as SCP, SPP, and General Supply. The coin jars would have information near them concerning Muto Scholarships, and perhaps even some sample applications. The idea was accepted and several board members will make up attractive jars and approach the supply houses that they purchase materials from.

President Fowler reported that board member Kent handed out Muto donation forms at the Western Pool and Spa Show. It became aware to us that we need to finalize a VISA card account so that we could accept donations from Pool Industry members. Treasurer Storm will check on the availability of such an account.

President Fowler suggested we talk to regional IPSSA directors about a once a year donation to Muto Scholarships. November would be a good month to make members aware of the applications coming out in January.

Discussion was held on how to determine scholarship names as underwritten by the San Diego Chapter since they are contributing $200 a month to the Foundation.

Mr. McArthur suggested a board member follow up when solicitations are sent requesting Muto Foundation donations.

Mr. Storm expressed an idea that each board member be assigned a candidate who received a scholarship last year and ask for a minimum ($5) donation and then approach the sponsoring organization such as IPSSA, UPA, chapter officer who can tell their chapter about it and ask for a donation. Mr. McArthur motioned and Mr. Storm seconded the motion. The vote was unanimous that we attempt to solicit funds in such a manner.

President Fowler reminded us that board members have previously agreed to contribute $10 a month to support the Foundation. He asked the treasurer to e-mail letters reminding members of their obligation of $120 per year. It was also suggested that if we solicit corporations it should be requested in the last quarter of the year. Mr. Grimes agreed to correct our stationery to include the current board members so it is ready for solicitation.

At 4:05 pm the meeting was adjourned.

Respectfully submitted,
Toni Storm, Secretary

For Additional Information Call or Write:
The Guy and Gloria Muto Memorial
Scholarship Foundation, Inc.
P.O. Box 60159
Sacramento, CA 95860

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