Board Reviews Mission Possible Phase I and Plans for Phase II

Tuesday, August 30, 2016

Management Board Reviews Mission Possible Phase I and Plans for Phase II

The Foundry Management Board, a nine-person elected group, meets monthly to discuss and make decisions regarding the management of the church.

 

Members present at the August 23rd meeting were Louise Franklin, Matt Hansen, Doug Steele, Samantha Sweeney, P.J. Taylor, and Dan Vock. Also present were Senior Pastor Ginger Gaines-Cirelli and Pastor Al Hammer (for the Mission Possible Report). Also in attendance was Paul Hazen, chair of the Mission Possible Committee.

Finance Update

The year-to-date operating deficit for 2016 is $146,693.

The current Mission Possible deficit is $584,213[FLA1] .

 

Mission Possible Update and Planning

Phase I

Paul Hazen reviewed a list of lessons learned that will be factored into planning and budgeting for Phase II. Among several items, the list includes the need for:

  • hiring a project coordinator focusing entirely on Phase II. (A job description is being developed; this would not be a permanent position.)
  • budgeting a larger contingency fund to cover unanticipated expenses.
  • acquiring better software to enable better real-time tracking of all expenses related to Mission Possible.
  • installing sprinklers throughout the Foundry building.
  • strengthening Foundry’s overall finances to put the church in a stronger position to seek advantageous financing.

To help close the Phase I deficit, Hazen recommended that the Board allocate $200,000 from the Strategic Investment Fund.[FLA2] . It was noted during discussion that the Board specifically authorized increasing spending by that amount to bring Foundry’s kitchen ventilation systems into compliance with code requirements.

The Board considered Hazen’s request but did not act on it, choosing instead to delegate its analysis to the Finance committee before any action is taken. [FLA3] 

Efforts continue to encourage 54 pledging units with unfulfilled pledges to honor their commitment. Additional contributions to Phase I are still being sought and received. Hazen recommended that the Board use reserves to cover any additional deficit remaining at year’s end.

Phase II

The Board discussed plans for Phase II of Mission Possible, agreeing that it would 1) include paying both principal and interest on the Phase I loan, and 2) move ahead on the Master Plan with smaller scale projects than those in Phase I. In February 2017, Foundry will begin paying $225,000 a year in principal and interest on the Washington First loan.  It was noted that this amount is roughly the same as our annual apportionments total.

 

Pastor Ginger presented her vision of a new element of Phase II to provide a more active outreach from Foundry to its neighborhood. The Board approved the use of $4000 from the capital reserves (to be repaid from future Mission Possible fundraising) to hire an attorney to explore the feasibility of this idea.

 

In other business, the Board:

  • adopted a modified behavioral covenant specifying expectations of board members.
  • discussed possible changes in the timing and date of future board meetings and decided no change would be made at this time, keeping the 4th Tuesday of every month as the usual meeting time
  • again recommended that the Scholarship Ministry Team award up to $8000 in college scholarship funds in 2016[FLA4] .  This year the composition of the ministry team was changed.
  • again considered the timeline for building and approving the annual budget.  As is customary, there will be a budget workshop open to the congregation the second week of October.
  • agreed that its next meeting will be on Thursday, September 29th, in order to avoid a conflict with the next Divinum session that will take place at Foundry on Tuesday, September 27th.

 

Worship Attendance

Total worship attendees (on-site plus live stream audience)        

 

July 3 – 401

July 10 – 510

July 17 – 477

July 24 – 411

July 31 – 512

 

September Meeting

 

The September meeting of the Management Board will take place on Thursday, September 29th. Foundry members are welcome to attend board meetings as observers.

 

Submitted by the Strategic Communications Ministry Team

 

 


 [FLA1]Check! J

 [FLA2]All non-designated bequests go into the SIF for review by the Board before allocation.

 [FLA3]Pending analysis by Finance, the draw may or may not occur.  The general consensus was to avoid the draw, but that decision is not yet in effect.

 [FLA4]This happens every year.  The change was the composition of the ministry team.

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