Board of Director’s MeetingNew Wave Corporation
915 E. Broadway – Columbia, Mo. KOPN Studios, Cope Ashlock Room

Meeting of February 15, 2011

In attendance were Ted Carstensen, Meg Pochė, Scott Meiner, Joy Rushing, Tom Verdot, Ruth Montgomery, Ellen Froeschner, Kyle Cook, Ann Mehr, Ray Marks, Jamie Smith and General Manager, David Owens Absent: Thomas Sobieck, John Betz, Bridget Early, Guests: Dan Hemmelgarn, Jackie Casteel

Call to Order:

Board Vice President, Ted Carstensen, called the meeting to order at 7:10pm and asked for any

Review of Minutes:

The minutes from the January 18, 2011 meeting were reviewed. Scott Meiner motioned to approve the Minutes. Kyle Cook seconded the motion. All agreed.

*The minutes from the January 18, 2011 Board meeting were approved.

Treasurer’s Report:

David Owens presented the Treasurer’s report in the absence of John Betz. David presented the Board with a balance sheet as of February 14, 2011, a Profit and Loss statement spanning October 1, 2010 to February 14, 2011, a Profit and Loss YTD Comparison spanning October 1, 2010 to February 14, 2011, and a list of Underwriting Sales by Customer Detail from October 1, 2010 to February 15, 2011. The bank loan has been paid in full. A general discussion was held regarding the financial status of the station. A question was raised regarding line 1350 on the Balance Sheet. David explained that an employee loan had been given to Jeff Wheeler. As of this meeting the balance was $375 and being paid back at the rate of $25/month. Kara Kirkendoll, a former KOPN volunteer and employee, has agreed to work part time as a contract employee to help straighten out the remaining Quickbooks problems in an effort to finalize preparations for the upcoming audit. Kara will also work with Jill in a training capacity.

CPB Grant monies have been approved and are on the way!

Officers Report

David discussed various trouble shooting around the station and at the transmitter site. Mice caused damage to the blower resulting in an interference with the bard systems. A discussion was held regarding re-assessing job descriptions for staff. Scott Meiner inquired as to whether there should be a Staff Committee on the Board.

*Discussion of forming a Staff Committee on the Board will be added to the February Agenda.

Staff Reports
1-Day Pledge Drive is one week away, to be held on Thursday, February 24 from 7am to 10pm. A pre-drive letter was mailed out and funds are coming in from that. Signup sheets are in the Green Room and Board members are encouraged to sign up. The goal for this drive is to get 350 people to donate $100 each. The New Wave Corporation celebrates its 39th birthday this Friday, February 18, and 38 years on the air as of March 3, 2011. An Open House is set for March including special programming to accompany it.

Committee Reports
Programming Committee – Ray Marks reported that the ad hoc Programming Committee meeting had been canceled due to the blizzard. The meeting has been rescheduled for March 22, 2011.

Fund-Raising Committee – Joy Rushing reported that the Fund-raising Committee had met twice. Joy explained that the efforts of the committee would be to plan one or two events each year that are separate from events planned and held by staff. Money raised would go towards operating expenses only if absolutely necessary. Monies raised by the committee would preferably go to capitol campaign funds. Ultimately the goal for this committee is to hold events that will make $5,000 or more each, although smaller events may be held as deemed necessary to make money to put toward bigger projects. Efforts would also be made to go after grant monies. Joy passed out examples of grants that were currently available and discussed the pros and cons of applying for grant money. Grant money is usually earmarked for specific projects, and we don’t want to apply for anything thatis going to demand more time from staff and volunteers than they are willing and able to give. No grants will be applied for without 100% approval from staff and board. Meg Poche discussed the possibility of a Raffle Calendar as found on the web site for KAFM radio in Grand Junction, Colorado. This is an example of a project that might benefit from a smaller fund raising effortto finance it. A possible opportunity exists in a “Local Foods Dinner” to be held at MargotMcMillan’s farm. David also suggested a “Texas Hold ‘em” fund raiser.

Board Appointments

A discussion was held regarding By-Laws compliance with regards to elected vs. appointed positions to the Board. In 2009/10 it appears we had 6 elected and 8 appointed when we should have had 9 elected and 6 appointed. Further review indicated that some elected positions were replaced, keeping us in compliance. A vote was held to appoint Jackie Casteel to the New Wave Corporation Board of Directors. Joy Rushing motioned to appoint Jackie to the Board. Tom Verdot seconded the motion. All agreed.

*Jackie Casteel was appointed to the New Wave Corporation Board of Directors.

Unfinished Business

Community Advisory Committee Meeting – The Community Advisory Committee (CAC) will be held at the Blue Fugue on Wednesday, April 13th at 6:30pm. Board members are encouraged to find a guest to bring.

*Setting an agenda for the CAC meeting will be added to the March 15 Board Meeting agenda.

New Business

Low Power FM Stations – Scott Meiner informed the Board about 1,600 new low power fm licenses being approved by Congress for non-profit organizations. Scott indicated that this might be something KOPN should pursue and that it could change the local dynamics of community radio. Costs are approximately $5,000 for equipment with a broadcast range of approximately 10 miles.

Underwriting – A discussion was held about the current Underwriting efforts by Brian Davis. A significant amount of monies are being raised via underwriting sales. In the last four months a little over $16,000 was raised in underwriting sales. A thousand dollars more will approximately pay forBrian’s salary; leaving 1⁄2 to 3⁄4 of the year’s underwriting sales to go as profit to KOPN. Brian has also enlisted 5 University of Missouri interns to help in gathering underwriting sales and work pledge drives. David has asked Brian to document all procedures for the intern positions so that future interns can easily be placed in position. David has also been talking to Brian about restructuring the underwriting slots both in pay structure and in timing. David envisions raising the rates while shortening the time slots and allowing for more underwriters per hour. The language of the By Laws has to be examined to see what restrictions currently apply. Tom Verdot suggested thata good strategy for the current Farmer’s Market underwriting would be to gather individual vendors from the Farmer’s Market to underwrite as well. So this program is brought to you by the Farmer’sMarket and XYZ Farms, etc. This would be a way to bring multiple underwriting sales in to one time slot. Meg suggested that the Board would benefit from having Brian attend a Board meeting to express his thoughts on the new ideas and underwriting sales in general. The Board agreed.

*Brian Davis will be invited to attend an upcoming Board Meeting to express his thoughts on underwriting sales and possible restructuring of time slots and pricing.

Audit – A vote was held to approve the firm Fick, Eggemeyer, & Williamson as CPA’s to conductour audit. Scott Meiner motioned to approve. Ray Marks seconded the motion. All said aye.

* The firm of Fick, Eggemeyer, & Williamson were approved to conduct the upcoming audit.

Closed Door Session – The general meeting was adjourned and followed by a closed door session.

Meeting adjourned: 8:45pm Next Meeting: March 15, 2011

Respectfully submitted to the Board by Meg Poché on March 14, 2011