Meeting of the Board 2:30 PM, February 11, 2012

Radisson Hotel, Kalamazoo

  1. Call to order : Parks called meeting to order at 2:39PM

(Weather last night was winterly, road conditions poor)

II. Roll Call LeBlanc

Present: Parks, Al Bobrofsky, LeBlanc, Ann Bobrofsky, Chandler, Chirco, Dennany, Fenwick, Freidman Marzilli, Pall, Rothfeld, Strub, Wostyn, (Sirna arrived at 2:55pm) Absent: Ewald, Sharpe

III. Introduction of visitors Parks

Lisa LeBlanc, Brian Malnar, Bill Summerell, Frank Passic, John & Roxanne Nigg (Not members), Corkey & Brenda Budcock (Not members) Andrew Blinkiewicz, George Vuicich, Pete Dame

IV. Invocation LeBlanc lead board in prayer

V. Minutes of Nov. 26, 2011 LeBlanc

As mailed, two changes are made to official copy.

Moved and 2nd heard to approve. Passed on verbal vote.

VI. Additions to Agenda Board

Wostyn's financial analysis moved to before 2012 budget

VII. Approve Agenda Board

Fenwick moved, Marzilli 2nd motion to approve agenda – passed.

VIII. Director Absences LeBlanc

Absences - current term: Strub 1, Sharpe 1)

IX Appointments

Parks asked to appoint Pat Heller, CPA to count our 2012 election ballots. Rothfeld questioned costs for last election, LeBlanc stated the costs for the last election were published in MichMatist. Moved, 2nd , and passed.

X. Membership Comments Hearing none, the meeting progressed.

XI. Officer Reports

A. President Parks offered no report at this time

B. Vice President Bobrofsky offered no report at this time

C. Secretary-Treasurer LeBlanc offered:

1. Review Current Financials

a. Regular Checking Account (January 24, 2012) $37879 Approx.

b. Life CD $50K 3.4% Matures 12/14 CD $25K 1.5% Matures 03/12

Savings Account $3251 $1000 Face Silver (Bought at $28600)

c. Cash Reserve Bank of Ann Arbor Demands Savings .15% $10K

Chandler questioned low return. LeBlanc stated this was a demand account and not a CD.

d. LeBlanc asked for board approval to close the Bank of Ann Arbor account and to open account at Flagstar Bank. Flagstar offering 1.15% current promotion.

Moved by Fenwick, 2nd by Wostyn - approved

e. Mature CD plans – LeBlanc notes earlier given authority by board to open another CD when the $25k matures in March.

2. Membership Report

a. RM 782, YN 113, CLUBS 28, HLM 22, LM 379. Total of 1324

As of March 31, 2012 non-paying members will be dropped.

b. New Life Application ~ William Ortell. Subject to no objections

received in the next 30 days, Bobrofsky moved Pall 2nd ,

passed to accept life membership.

3. Property Report LeBlanc reviewed report mailed earlier to board.

4. Fall 2011 Budget LeBlanc offered report on Fall 2011

We now have to pay for the awards breakfast but did not before. This was because we were, several years ago, asked to rent tables due to the hotel’s decision not to store tables. As a trade-off, the management at the time provided the awards breakfast for free. Unfortunately, the current management does not honor that old arrangement. So now, Breakfast is $24 or $25 per person.

Acceptance – so voted (not a motion).

5. 2011 Budget LeBlanc offered report on 2011 year budget

Acceptance – so voted (not a motion).

6. 2011 Profit & Loss LeBlanc

Al Bobrofsky moved, Wostyn 2nd a motion to accept - passed.

Much discussion followed of Wostyn’s Financial Analysis from 2004 to date, accompanied by Strub’s graphs of the data. Parks asked the board to study and discuss further at the Spring show.

7. Proposed 2012 Budget LeBlanc proposed a 2012 budget

Rothfeld moved, Pall 2nd , a motion to accept - passed.

8. Correspondence LeBlanc

1) Lansing requests Fall 2014 show co-hosting.

2) Walsh College requested a speaker – Pall will present for us, on paper money.

XII. Committee Reports

A. Exhibit Passic offers the following report:

Only ~$750 in sponsorships received last fall – despite more sponsors who had stated

they would donate.

B. Webmaster Report LeBlanc offers the following report:

Being kept more up-to-date these days because LeBlanc is handling it and there is no

middleman. Go to the website and look at it regularly!

C. Auctions Friedman (Pro Tem chair) offers the following report:

In a holding pattern right now – waiting for the results from the membership survey.

Sharpe (not present) has them and is doing the analysis.

D. Past Presidents Ann Bobrofsky offers no report at this time

E. Mich-Matist/Web Media Al Bobrofsky offers the following report.

Always seeking ways to reduce expenses.

F. Publicity Chirco offers the following report:

Same as advertising. Calls to broadcast stations. Ficano has come to our convention. We have a website. We are trying, but not having as much success as we’d like.

We’re trying to use unconventional means. Chirco came up with a idea that has brought tons of new traffic to local GR commercial show – he proposes new waterproof cardboard signs – red print on white – which he showed us sample. Chirco is now getting approvals from everyone he can who is responsible for properties and roads. Cost ~$150 for 50 signs. Wants board to okay idea. Wants host club volunteers to post them, and later take them down.

Chirco moved, Marzilli moved to do spend $150 for signs. Then it was decided to do this without a vote, as we have an advertising budget. Motion withdrawn

G. Membership Sharpe Absent

H. Convention Malnar & LeBlanc report:

Have sold ~100 tables so far for Spring show. March 1 reply date on bourse application will accelerate replies. Question was asked whether we make an effort to contact old lost dealers? Answer: LeBlanc mails bourse apps to all current and past dealers, including to CSNS dealers and others. We do advertise in national periodicals.

I.  Education Pall reports:

Ideas from Pall included education for dealers, reaching out to the scouts, talking at libraries, getting MichMatists to libraries, etc.

1. Beida Club Officer Liability Seminar Planning for at spring convention

2. Seminar in GR Chirco states still work in progress.

  J. Finance Parks notes:

It was suggested that a CPA audit would cost $5000, and that therefore costly to do it now – that we could use Wostyn's report instead. Sirna countered: We need to do it or we may jeopardize our 501c3 status. Friedman: budget $1k/year. LeBlanc: We are cash basis, can’t budget that way as to when it hits P&L. Last audit unofficially attempted in 2003, and the club books prior to LeBlanc’s taking over were unauditable according to the CPA we hired at that time. Sirna: one should be scheduled this year. Sirna recommends getting a couple of bids.

Dennany moved that the executive committee be empowered to acquire bids, and hire a CPA to perform an audit at a cost up to $5000. Marzilli 2nd . Motion by Pall, 2nd by Bobrofsky to table to April board meeting. Passed with 9 votes in favor to table..

Executive committee will attempt to get bids and be ready in April when this comes off the table.

Wostyn moves that the proposal for the financial audit, with costs be mailed to the board prior to the next board meeting. Second by Pall. Passed.

K. Dealer Friedman reports:

Complaints of dealers leaving show early. Sirna proposes, Charge an exit fee if dealer wishes to leave early – e.g. $100 for Fri, $50 for Sat. Then we can re-rent the table for the remainder. PAN does this already. Friedman then proposed: if you leave on Fri, you’re in the annex. Saturday? You MAY be in the annex. Sirna said, why punish a dealer willing to pay the exit fee? Friedman withdrew the idea of the short day dealers being in Annex.. Friedman further suggested corner tables pay extra $25 therefor. Marzilli agreed and said a corner table is worth $100 more. He said Friday OR Saturday early departure should be $100 extra.

Marzilli moved that premium tables have a added bourse fee of $100, and that there be a $100 fee to vacate table on Friday, $50 fee to vacate table on Saturday. Rothfeld 2nd . Rothfeld then removed his 2nd , Bobrofsky 2nd.

  1. Friedman moved to table indefinately. Wostyn 2nd. 8 voted yea to table, being majority, so tabled.

Motion by voice to bring up in April No second.

Chirco asked to know precedence and rationale for these early departure penalties. Sirna said that CSNS does it, ANA does it, FUN does it, probably lots of others. Parks asked Friedman to make a list of the precedents as part of his report in April.

LeBlanc at this time collected $5 from those with cars in parking structure, for discounted fee from hotel. LeBlanc expressed displeasure at Radisson parking fee since we paid for room and food/beverage costs for meeting.

Break at 5:08pm. Resumption about 5:25pm.

L. Bylaw Revision Bobrofsky reports in progress.

XIII. Old Business

A. Schlag Memorial Update Al Bobrofsky

MI Historical Commission unfunded by state.. Volunteers now meet quarterly rather than monthly. In April we expect preliminary approval. B. Co-Host Awards No motions heard.

C. ICTA report Rothfeld

Maryland Sales Tax Exemption is threatened for bullion dealers…

. D. “Guaranteed” as word in MM ads LeBlanc

Sirna believes we should send a letter to dealers who make unsubstantiable and actionable claims in their MichMatist advertising. Pall moves we have our President send a letter to possible offending dealer(s) based on our attorney recommendations. Bobrofsky 2nd . Passed Unanimously.

E. 3rd Convention in Grand Rapids Chirco

Chirco, Friedman and LeBlanc have spent many hours attempting to make a venue work financially in GR area. No venue can be found at this time. Bourse fee to dealers would likely have to be in the ~$350 area for a 2 day convention.

The Kalamazoo Expo center site that Dennany has proposed also was discussed. LeBlanc will review costs. Some board members toured the Expo center earlier today.

F. Club info share website Friedman reports:

Andy Reiber provided URL of : www.nationalnumismaticleaders.com. 3 sections: Public, All member, governors. Map is clickable to bring up an area. Links to member sites, show schedules, bourse apps. Still a work in progress. Membership dues not yet set.

G. Audit status Discussed earlier.

H. Convention Manual Parks

Ready. Should have for April. Everyone has a copy. Parks sees no reason to keep holding off – last delay was because the dealer points schedule was under review. Since it is no longer, we should be prepared to vote on in April.

I. Insurance Policy Report LeBlanc

LeBlanc aggravated with insurance agents we work with.

XIV. New Business

A. Set 12 Fall Bourse Fee

LeBlanc notes base bourse fee unchanged since at least 2004 ($350). He requests bourse fee be set at a flat $375. He states that as noted earlier, in order to meet approved 2012 budget, the fall convention must increase income or reduce expenses (or combination) of ~$4000 over last fall. Wostyn moved to increase Fall 2012 bourse fee to $375, 2nd by Bobrofsky. Debate. LeBlanc opinions that this is not an increase but only a setting of the fee. Motion Failed. Marzilli moved to set Fall 2012 bourse fee to match that of Fall 2011. 2nd heard. Debate. Passed.

B. ICTA Renwal (2011 $300 Membership) LeBlanc

Rothfeld moved, Strub 2nd a motion to renew this membership at $300. Wostyn asks if this is in budget. LeBlanc noted this is not in approved 2012 budget. Motion Failed.

  1. CSNS Election Ballot

LeBlanc notes that MSNS has received our ballot for the CSNS election. Three MSNS board members are on ballot, LeBlanc, Parks, Chirco. Sirna recommends President Parks turn chair to Bobrofsky. Bobrofsky thus took over the gavel. Sirna notes past motion to cast ballot for MSNS members. Strub moved, Pall 2nd that we vote for the MSNS members on the CSNS ballot.

Rothfeld expressed concern over potential conflicts of interest between matters before the two boards, and thereby objected to MSNS support for members of our board running for their board - citing advice from a lawyer he knows who agrees with him. Rothfeld feels LeBlanc has caused harm to MSNS/CSNS relationship. Sirna then refuted Rothfelds’s claim, explaining such dual membership does not in itself constitute a conflict of interest. When there is such a conflict, people recuse themselves. Wostyn explained her conclusion that conflicts between her law firm’s interests and MSNS’s lead her to need to recuse herself if certain subjects were to arise, on advice of her law firm’s lawyers. Many similar conflicts between ANA and CSNS board positions held by the same individual were noted, also not leading to real problems.

Roll call vote requested. Parks abstain, Chandler yes, Chirco abstain, Dennany yes, Fenwick (absent) Friedman yes, Marzilli yes, Pall yes, Rothfeld no, Strub yes, Wostyn yes, Al Bobrofsky yes.

Dennany moved, Pall 2nd to vote for the sole president candidate. Passed.

No motion to vote for any other candidates.

Ballot was then given to Bobrofsky to mail. At this time, the gavel was returned to the President and Parks resumed duty as chair.

D. Other Collectables in Annex Dennany

Discussion whether to fill the annex by reducing the majority-coins restrictions on such dealers. No action taken.

E. Unconventional Advertising Chirco noted discussion earlier

F. Additional Candidate Info for publication for MSNS 2012-2013 office

Wostyn moved we adopt her outline for nominated candidates to adhere to, in the provision of information when accepting their nominations in writing. Friedman 2nd . After discussion and citing the precise constitution wording on this matter, the motion was withdrawn. Pall suggested this format could be requested via a letter to the editor.

G. Advertising Survey Wostyn

Dealers have approached Wostyn regarding Annex traffic. She suggests a drawing based on submissions of an advertising survey. This drawing’s deposit box would be in the annex, pushing traffic there. This would also help us know what is an effective advertising medium. Drawing would be for a subscription to Numismatic News or Coin World, 1 year. Wostyn moved this be approved Pall 2nd .

Chirco asked to add city and state where responder comes from. Further discussion. Passed.

H. Annex Traffic Flow Handled in item G

I. Anti-Harrassement Policy LeBlanc

LeBlanc states MSNS should have such a policy. Sirna to develop.

J. Anti-Discrimination Policy LeBlanc

LeBlanc states MSNS should have such a policy. Sirna to develop.

XV. Board Member Comments

Dennany – Explained that his grandson is coming home in early March from extended hospital stay. He said that Mikey is looking forward to the Colorado ANA seminar that he has won and will soon be old enough to attend – he believes that this is helping him in his recovery.

Marzilli – hopes we are all on good terms, despite conflicts of previous meeting.

Al Bobrofsky – we should all be able to shake hands with each other, and work together. Anyone who cannot should seriously consider whether they should remain on our board.

Sirna – we need to learn to disagree but not be disagreeable in doing so.

Parks – it is difficult to see our own foibles; he is as guilty as anyone else. It is hard sometimes to forgive.

Friedman – respect people.

  1. General Membership Comments

Summerell asks about a discount for life membership costs. LeBlanc states that at this time that would not be in MSNS interest due to low interest rates on money.

XVII. Adjourn 7:13pm