March 7, 2008 Meeting of Board of Administration

 

Members Present:  Barbara Crabtree, Marvin Bagwell, Julie Krueger, Jeff Miner, Marsha Warren

 

Absent:  John Vespa

 

In Attendance:  Rev. Dr. Cindi Love, Rev. Elder Nancy Wilson, Rev. Elder Darlene Garner, Irma Levesque, Connie Meadows

 

On March 7, the Board of Administration met face-to-face in Abilene, Texas.  The Board discussed the following topics:

 

1.  How to better resource affiliated churches of varying sizes and needs.

 

2.  How tithe income is progressing under the new 13%+ voluntary partnership program with local churches.

 

3.  An initial open-ended discussion of fund development strategy with Irma Levesque, the new Fund Development Director.

 

4.  An assessment of MCC’s financial standing.

 

None of the foregoing discussions led to formal action requiring a Board resolution. 

 

 

March 8, 2008 Meeting of Board of Administration

 

Members Present:  Barbara Crabtree, Marvin Bagwell, Julie Krueger, Jeff Miner, Marsha Warren

 

Absent:  John Vespa

 

In Attendance:  Rev. Dr. Cindi Love, Rev. Elder Nancy Wilson, Rev. Elder Darlene Garner, Irma Levesque, Connie Meadows, Frank Zerilli

 

On the morning of March 8, the Board’s face-to-face meetings continued in Abilene, Texas.  After Julie Krueger opened in prayer, the Executive Director gave an update on the senior adult housing community project (CCRC), followed by discussion.  The CCRC is intended to provide housing for seniors and a continuing income stream for MCC’s ministry endeavors.  The Board of Administration unanimously voted to authorize the Executive Director, working in consultation with legal counsel, to provide for the formation of a single purpose corporation whose mission will be to provide housing and continuing care for active adults and generate revenue for MCC.  The Board reiterated that the corporation should be established in a manner that ensures MCC is isolated from any financial risk or liabilities associated with the CCRC.

 

The Board of Administration then discussed the investment update from Merrill Lynch.

 

The meeting closed with discussion of developing a milestone tool to better organize and track the BOA’s ongoing work.  Julie Krueger and Barb Crabtree will bring a refined proposal to the April BOA meeting.  They will invite John Vespa to participate in shaping the proposal if his schedule permits.