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Reports eontin <br /> Mannement.St d <br /> Pat Gamache advised that she delivered the Management Study to Joyce Mason and had a brief meeting with <br /> Joyce and Torn Bayo. Pat said that Joyce will schedule ajoint meeting of FinCom and the-Burd of Selectmen. <br /> Pat said Ruth Kowal would go with the Trustees to this joint meeting to present the study report. Hopefully the <br /> joint meet'Ing <br /> will happen reasonably soon. <br /> 501 <br /> Jack Kowalski reported that he had a meeting with Leslie Marsh and she is enthusiastic about our gettmng <br /> together with the Friends on this. Prior to meeting with Leslie,Jack spoke with Eileen Mi kelt who was on the <br /> Board of the Falmouth Public Library Foundation and on the Board of the Cape Cod Foundation, Eileen was <br /> suggested to Jack by Attorney Jodee Bishop of Falmouth. Jodee,Eileen and Leslie have all worked together on <br /> things that were successful. <br /> Jack said he had a 'Meeting with Eileen Miskell and she suggested we have a facilitator to see how to best bring <br /> our 2 groups together under the 501(c)(3). She suggested Attorney Jeff Oppenheim of Falmouth who helped <br /> there in the past and they felt he was very good at facilitating this type of situation. Leslie said she would be <br /> happy to talc with Jeff. Jack spoke with Jeff and he is willing to talk with,us and sent an engagement letter, <br /> which is essentially a fee structure. Basically Jeff'wants to get an agreement signed before going ahead. Jack <br /> said Ceil Sneider is impressed with,Teff. <br /> Points raised were: Has Jeff outlined the scope of work to be clone. Does Jeff have an estimate hours it <br /> would take to perform thi's service. <br /> A discussion on what it is hoped can be accomplished in the joint agreement under the Friends 501(c)(3) <br /> followed. It was noted that the idea is to present the facilitator with our goals and ask how we accomplish it <br /> legally. Some of the points raised included the following: <br /> 0 Linder Friends' 501(c)(3)have a major gifts and bequests account that would be separate from Friends' <br /> Account. <br /> • Have separate account; separate banking account...establish a sub-account just used for major gifts and <br /> bequests funds. <br /> Provision stating when major gifts and bequests funds can be taken out of the major gifts and bequests <br /> account;also restriction that no major gifts and bequests funds are to be taken out for operating . <br /> expenses,i.e. for staff. <br /> If donation of I-Million or more received,thea consider other option(s),rather than the 5 o 1(c)(3) <br /> major gifts and bequests account. <br /> Who would serve on the 501c Board. <br /> Terrie Cook suggested establishing a work group of people from the Trustees and from the Friends and thea <br /> give resulting work ideas to J ff'Oppenheim. The Trustees unanimously agreed this was the approach that <br /> should be taken. <br /> Motion: Chip Bishop motioned that the Board of Library Trustees supports the creation of a small work group <br /> of Trustees,Friends and others as appropriate to draft a scope of work that would lead to the creation of an <br /> endowment capacity within the Friends' ofc)( . <br /> Motion was seconded by diary LeClair. <br /> VOTE: Yes-4. <br /> Roll Call vote: John Kowalski,yes Chip Bishop,yes <br /> Mary LeClair, yes Patricia Gama he., yes <br />