MICHIGAN STATE NUMISMATIC SOCIETY
Meeting of the Board 4:30 PM, January 29, 2011
Radisson Hotel, Livonia
I. Call to Order Called to order by President Parks at 4:38
II. Roll Call LeBlanc
Present: Dr. Andrew Parks, Al Bobrofsky, Joe LeBlanc, Ann Bobrofsky, Donald Chandler, Dr. John Chirco, Mike Dennany, Charles Fenwick, Stephen Friedman, Mike Marotta, Steve Marzilli, Karl Pall, Dany Rothfeld, Chuck Sharpe, Mike Strub, Julianna Wostyn Ron Sirna arrived at 4:50
III. Introduction of visitors Parks
Frank Passic, Brian Malnar, Bill Summerell, Frank’s Passic, Ms Passic (Mother), Ken Potter at 4:45
IV. Invocation LeBlanc lead board in prayer.
V. Minutes of Nov. 27, 2010 LeBlanc
Changes: Bottom of first page should read final sentence: „Dany Rothfeld suggested that all show Co-hosts should ....“
On very last page – comments before we adjourned – unfinished comment from Rothfeld has been removed. Freedman moved, and Wostyn seconded, a motion that these changes be accepted and minutes approved, passed.
VI. Additions to Agenda Board
New Business, O. Krause Program LeBlanc
Possible 3rd Convention
Honorary Life Membership - Clark
Change item A. to item S.
T. Books to Libraries by Dennany
VII. Approve Agenda Board
Pall moved, and Strub seconded, a motion to approve the agenda, which passed.
VIII. Director Absences LeBlanc (Absences - current term: None to report)
IX. Membership Comments Brian Malnar says – board is doing a great job
X. Appointments Parks
At this time Parks created and appointed members to committees. List attached as appendix A
XI. Officer Reports
A. President Parks
Dr. Parks thanked the board for all they have done and will do. Would like us to continue searching for an auction house; education improvements; outreach to local clubs. Sharpe and his committee to work to form new coin clubs in Michigan. We’ve done a good job up to now, and we shall continue to strive for excellence. Very proud of the MichMatist and its contribution to the hobby. Seminars that we’re planning Judging classes and reviews discussed with Frank Passic.
B. Vice President Bobrofsky No report
C. Secretary-Treasurer LeBlanc
1. Review Current Financials
a. Regular Checking Account (Janaury 12, 2011) $36,955 Approx.
b. Life CD $50K 3.4%Matures, 12/14
CD $25K 1.% Matures 03/11 – LeBlanc will renew at best terms per his decision.
CD $25K 1.5% Matures 03/12
Savings Account $4850
Al Bobrofsky asked about the money from the additional life members accepted since the establishment of the $100k. LeBlanc responded that the added life membership funds were set aside in the savings account mentioned above. Spending such funds requires a super-majority (67%) vote to expend, including concurrence by President or Secretary-Treasurer. Dennany asked that the savings be pooled into the next CD that gets laddered. Agreed by Parks. Friedman moved, and Chandler seconded, a motion to approve the inclusion of at least $4500 from the savings account that represents the new life members, into the next CD that is purchased to invest said funds. The motion passed.
c. Cash Reserve Bank of Ann Arbor Demands Savings ~.2% $10K
2. Membership Report
a. RM 813, YN 113, CLUBS 28, HLM 19, LM 377 Total of 1350
Second dues notice to be mailed soon for 2011 members non-paid yet.
b. New Life Application – Applicants are John Mason, Charles Dickens, Matt Foltz and Dr. John Chirco
Strub moved, and Pall seconded, a motion to approve the applications for life membership of John Mason, Charles Dickens, and Matt Foltz, which passed. Pall moved that Chirco be approved. Dennany seconded. Motion passed, with Chirco abstained.
Friedman asked the executive committee to discuss reduced life member rates for older life member applicants.
c. Dr. Parks Honorary Life LeBlanc states for having served a complete term as President Dr Parks is now a HLM. 3. Property Report Some awards have been purchased and stored in safety deposit box
4. Fall 10 Budget LeBlanc
Budgeted to make ~ 14K, but made ~22k. Mainly due to full bourse area.
Friedman moved, and Wostyn seconded, a motion to accept the fall 2010 budget report, which passed.
5. 2010 Budget LeBlanc
We had estimated optimistically in order to create a balanced budget. Worksheet shows we lost $4k for the year. LeBlanc stands behind that number. Billing for the MichMatist advertising has typically gone out in January, but now it has gone out earlier – thus creating an abnormality – ad income coming in in December 2010 for 2011. This is required because we are on a cash basis for accounting. $13331 for ad income is for Jan 1 thru Nov 1. Nov and Dec ad revenue is not on this worksheet, but is in 2010 books. Strub noted that his analysis shows that, for the previous year, our MichMatist ad revenue would have been $15787 if we were able to collect for all of the ads we ran. He allowed that there are a lot of factors that could lead to differences here, such as advertisers renigging on advertising contracts, billing or payment outside the calendar year the ads are to run, etc.
Friedman moved, and Chirco seconded, a motion to accept the 2010 budget report, which passed.
6. 2010 P/L LeBlanc
The statement mailed to the board is not the final picture, though it is ~99.8% of the way there. Some entries may need to be recategorized. Friedman noted that emails have been questioning some P & L line items – he would like Dr. Parks to commit to run each committee like a business. Dennany stated that the P & L statement should be broken down into more understandable increments, and stated examples. Parks explained that this would make the P&L much more complicated. Friedman noted that this is understood by accounting-background readers, but not by others. LeBlanc offered to generate any auxiliary report with additional data at the request of any director. Marotta moved, and Parks seconded, a motion to approve the 2010 Profit and Loss Statement, which passed.
7. Spring 2011 Budget LeBlanc
Purely informational, a work in process. Nothing out of the ordinary to report. We have roughly 80 tables sold at this time for the Spring show. Feb. 15 is deadline for early payment bourse fee. This week LeBlanc will send reminders to dealers to send early fee payment to save them cost
8. 2011 Proposed Budget LeBlanc
LeBlanc asked for approval of mailed worksheet. Based on year prior, or with certain necessary adjustments. Contrary to last two years, LeBlanc feels this is a realistic budget. It accounts for the increased membership fees, and the likely mix of bourse fee amounts to be paid based on what has been paid thus far for Spring, and an assumption of doing the same for the Fall. Rothfeld questioned postage LeBlanc states Postage in office expenses does NOT include the MichMatist postage. Postage is expensive because each mailing to membership is potentially $500+. Rothfeld offered to sell postage to MSNS below face. Friedman said Costco sells postage slightly below face. Friedman asked if postage for running election was included? No. Chirco asked that we email letters instead of mailing for those with emails. Referred to that committee. Marotta moved, and Chirco seconded, that the 2011 budget be approved, which passed.
9. Correspondence LeBlanc
Email to Marotta praising website.
Letter from Monroe county coin club – thanks for letting co-host
Krause publications – will no longer be printing our convention programs
Wyandotte club interested in co-hosting upcoming show
Mike Howard – program chair for Huron Valley Numismatic Society – seeks assistance to get speaker(s) for upcoming meeting. Wants speaker on Indian cents. Sirna could do if schedule permits.
***** 20 minute break for dinner *****
XII. Committee Reports
A. Exhibit Passic
Consistency of prizes and reduction of expenses. Now $900 under budget. Have instituted sponsorship program for prizes. Training of judges is available and planned. Judging seminar upcoming is for MSNS judge qualification – details pending. This Spring we have a new class 9 – Political Numismatic items. Dropping metal detecting category. For Fall class 9 is Michigan Hometown Numismatics. Friedman suggested schools program for kids to exhibit. Pall described the Michigan gradeshool re-certification courses that he has been involved with, explaining that we could incorporate coins and history in this. Friedman suggested sponsoring school field trips to see our coin exhibits. Judges will now be awarded a 1956 BU half dollar.
B. Webmaster Report Marotta Marotta reviewed his emailed report. Message board is now up and running. New benefit of MSNS membership.
C. Auctions Summerell reports:
Steve Davis, successor to Craig Whitford, is interested – he just can’t afford all the workers and their expenses. Bill Summerell said he is being creative in discussions on how to make this work. His catalog is high-class. He wants to do the Fall show. He had asked us for $10k in the past, but Summerell has told him that this is not going to happen. Sirna suggested we invite him to the Spring board meeting to make a presentation.
Steve Cole, an auctioneer in Lapeer, has expressed an interest as well. Referred to auction committee.
D. Past Presidents Ann Bobrofsky No report until April meeting
E. Mich-Matist Rothfeld
Mike Strub showed his analysis of costs and revenue for the MichMatist over the last two and a half years. Highlights include: 1) Strub strove to reduce costs in 2010, and would have succeeded to the tune of over 10% of his budget - $3500 – had not the printer increased their charges surreptitiously to recoup the entire attempted savings amount. He attempted to prove this by solving 4x4 matrices. 2) Each ad type and size had it’s costs and profit to the club calculated. 3) Because of greater color ad revenue, it makes little sense to have less color than a color cover plus one color signature (4-page-unit) in each magazine. 4) the true net cost of the MichMatist is less than $20,000 per year when ad revenue is included in the calculations.
F. Publicity With new chair no report at this time.
G. Membership Chandler
Friedman asked for a member survey. Strub explaned that $600 could mail such a survey, but $70 could print it in one page of the MichMatist. Parks said Wostyn should do that. Ann Bobrofsky said it should be handed out at the conventions. Sirna said people should be surveyed electronically. Marotta said there are 3 polls out on MSNS message board right now. Sirna said we should gather email addresses of our members.
H. Conv./Manual Revision Al Bobrofsky No report.
I. Club Outreach/Communication Clubs Wostyn
Wostyn wrote letters to all clubs inviting them to shows. And asking updates on club information. Some provided to Strub. Asks Dr. Parks to give a welcome speech to dealers before 10am friday to open the convention, and have board on hand for introductions.
J. Education Pall
Spring Saturday presentations – one that will follow along with theme on Politics – Larry Sekulich has a tie-in between Napoleon and Napoleonic coins. 75-90 minutes. Also, at our last educational conference, we had all the presidents and a round table. Pall says we should focus on being a community, and find out how to get closer together. First-ever large one-day seminar touted: History of Michigan Obsolete Paper Money. Pall suggest tutition $89 for 5 hours, earning 5 Numismatic Credit Units, toward a degree we would bestow. Would be the day before the convention. Thursday, April 7. Rothfeld endorsed Pall’s expertise and entertaining teaching style. LeBlanc noted the board needs to set a tuition rate, and asked for $99. Al Bobrofsky moved, and Wostyn seconded, that the fee for this “History of Michigan Obsolete Paper Money” one-day course be set at $99, which passed with 10 in favor.
LeBlanc noted we can’t make the next MichMatist. So he will include an update to the course information, and then mail it with the dues notices and membership cards. Each board member is asked to take this to their clubs. 9 board members and officers showed interest in the course already.
K. Finance Parks No report at this time.
L. Dealer Friedman
We’re going to drop the new point system for now, let things calm down, and then take up consideration at some future time. Surveys show that dealers find the dealer committee very credible. Committee is balanced – half dealers, half non-dealers. Al Bobrofsky will make a sign that explains what Numismatic means, and that says the convention admission is free. Sprint 10 Survey was discussed.
LeBlanc states Dealer Cline will not attend Spring Convention due to a schedule conflict.
XIII. Old Business
A. Schlag Memorial Update Al Bobrofsky 5 Schlag Memorial fundraising plaques remain.
B. MSNS Coats/Shirts new board LeBlanc
LeBlanc brought remaining inventory of shirts and jackets for board members to examine. If you can’t find item that fits, tell LeBlanc so he may order more shirts for April convention delivery.
C. Suburban Detroit Coin Show Wostyn signed up 3 YN’s and 1 Adult!
D. Seminar Spring 11 LeBlanc Discussed earlier
E. Co-Host Awards Hearing no board motions, agenda moved along
F. ICTA report Rothfeld
Forms 8300 are due January 31 Trend these days of states to reconsider tax exemptions on coins. Pennsylvania almost did this, but dealers pointed out that this repeal of exemption would keep them out of the state in the future. You have to be vigilant. ICTA suggests each state should have a lobbyist. Pall noted that Bieda could be asked to keep us informed.
XIV. New Business
A. Constitution/By Law Change – BOD Meeting Month
Modified By-Law Article V was proposed by Ron Sirna. Appendix B.
Pall moved we approve new By-Laws article V section 2. Second by Al Bobrofsky.
Marotta moved to table, Rothfeld second. Movement to table failed.
Marotta objected to confusing the By-Laws and Constitution
Rothfeld objected to taking constitutional changes lightly
Parks suggested everyone bring their own constitution to each meeting
Some suggested the current board meeting is unconstitutional. They were told that the President can call an additional board meeting at any time Unless we change the constitution / by-laws at this meeting, he will be obligated to call another meeting next month. Pall requested a roll call vote
Sirna noted that this is his suggestion, should not be thought of as only path, but that it was well-considered.
Friedman called the question. Verbal vote on the call passed ending debate.
Roll Call Vote Al Bobrofsky yes, Chandler yes, Chirco yes, Dennany no, Fenwick no, Friedman yes, Marotta no, Marzilli yes, Pall yes, Rothfeld no, Sharpe yes, Strub yes, Wostyn yes. Motion passes 9 to 4.
Sirna suggested that a committee be appointed to address many other problems with the by-laws that he had seen. He will be available AFTER a current ANA trial. Pall volunteered to serve.
B. CSNS uncashed check LeBlanc
We purchased CSNS advertising for which our payment was not cashed. LeBlanc states he serves on the CSNS finance committee and as such notifies MSNS that he will be pursuing why MSNS check not cashed.
C. Livingston Show MSNS Table Marotta Saturday March 26. Marotta will attend for MSNS.
D. Potter offer to members LeBlanc
Potter states he would be willing to offer his presence for up to 3 days at a table to photograph and discuss errors and their questions about them. He is a columnist for Coin World, Feature writer for Numismatic News. Considered a world expert in field. Typically sends out a Press Release saying he’ll be there, wherever “there” is. MSNS offers Potter a free table at our next MSNS show for the benefit of our members.
E. Video/Member room at convention Sharpe
Others have these at their conventions. Recommended to education committee.
F. Fall 2011 bourse fee LeBlanc
2010t fall was $350 early payment, $395 later.
Strub moved, and Chirco seconded, that the Fall 2011 bourse fee be same as for Fall 2010, with the same cut-off date for early payment. Passed.
G. ICTA Renewal
Al Bobrofsky moved, and Pall seconded, a motion to renew our ICTA membership for 2011 at $300, which passed.
H. New Member free book Sharpe
Sharpe proposed up to a $1000 budget for books or loupes to be given to new members. Second by Wostyn.
Discussion – we may be able to get 2010 Redbooks for ~$2, and loupes for ~95c. Last time we did this, membership increased 5%, and Strub provided that we retained 3%. Much discussion pro and con. Bobrofsky called the question. The call Passed verbally ending debate. Then motion passed 8-3. Chirco says he will donate $100 towards this program..
I. Hospitality Room Wostyn
No food is to leave the hospitality room due to possible hotel objections.
J. Dealer Security Wostyn
Even Dealer Board Members need to obtain and wear their badges before entering the bourse floor during setup.
When we run ads for our shows, we need to say that there is security provided. Marzilli suggested that we should even add the adjective armed. Parks said that security tips should be added to dealer packets.
K. Insurance problems LeBlanc
LeBlanc made the board aware that we have 3 types of insurance. At the beginning of 2010 our agent was selling his business to another agent. Our insurance on all 3 policies comes due near the start of the year. We wrote a check in early 2010 payable to our original agent. We went through the course of the year and as the renewal arose, we became aware that the first agent and second agent were no longer on good terms. Original agent then told us the new agent had somehow not remitted our payment to the insurance carrier. New agent claims to have paid the policy. Insurance carrier informed us we were covered despite this mix-up. LeBlanc sent a letter to the second insurance agency requesting proof that we are insured. We have proof our check was endorsed by first agency and endorsed over to second agency. LeBlanc received no answer. Then sent certified letter and demanded the proof. This forced the second agency to call him and inform him that the amount hadn’t been paid, but has now been remitted. Both agencies are pointing fingers at the other asserting insurance fraud and investigation by the state. We’re under control in terms of payments getting out, and we’re paid for 2011 to the FIRST Agency. Sirna advised sending a letter to the insurance company demanding proof that it is in full force and effect. Parks showed that we have the doubly endorsed check to prove payment. Sirna said that is just grounds for a lawsuit. Sirna then offered to handle the letter he had suggested. LeBlanc says that this should apply to all three policies.
L. Pruchnicki 2nd inheritance LeBlanc
We learned that we have inherited additional coins, upon the passing of Violetta Pruchnicki. This was not a new inheritance, it is additional material that was supposed to have been donated in the earlier donation, but was not located at that time. LeBlanc suggested putting it into a case and requesting sealed bids. Friedman so moved – split it into 2 lots, 1 US and 1 Canadian, but it into display cases and invite bids at the next convention. Motion does not include the gold coins. Second from Pall. Passed.
Regarding the gold set: Bobrofsky moved they all be certified by NGC. Friedman seconded. Friedman feels one or more coins may be counterfiet. Advises NGC because even if damaged, authenticity is ascertained. Mr. Sharpe recommended that 2-3 dealers that know gold, e.g. Greg Mellon. Sharpe will take possision of coins and deliver to Mellon to submit to NGC. Passed with one naye.
M. Projector Purchase Pall
$499.99 Best Buy Epson Multimedia Projector was suggested by Pall to be purchased. Plus $100 screen. Marotta will work with Pall to validate the choice of model. Pall moved up to $700 be spent on purchase of such a projector and screen. Fenwick seconded. Passed.
N. Buy Light Bulbs LeBlanc
Motivated by the impending illegality of selling incandescent light bulbs, which collectors and dealers favor to grade coins, Bobrofsky moved investment of up to $1000 for purchase of incandescent light bulbs. Second by Marotta. Passed. 75W, not China made. Mexico okay.
Krause publications has told us they can no longer supply our convention programs, which we have greatly appreciated for many years. Strub moved, and Dennany seconded, a motion to handle ourselves and get advertisers to help sponsor them – which passed.
Our printer estimates for a 16-page booklet like our current one they would want $360 for artwork (layout). It was suggested that Strub could do it for less, and would do a good job, which he confirmed. Pall moved, and Chirco seconded, that MSNS hire Strub to work with LeBlanc to produce these. Motion passed, with Strub abstaining and one naye.
P. Third Show…
No time to do in 2011 – will be a 2012 item.
When a MSNS member requests an ANA nomination, we usually do so. Walter Ostromecki is running for Vice President of ANA and asks our nomination. Does board agree we do so for him? We do.
R. Honorary Life Membership
Elderly member, Dr. Arthur Clarke has discussed with LeBlanc on phone that he did let his membership lapse for a few years but that he was a charter member in 1956. Clarke wishes to be known as charter member #95. LeBlanc confirms a search of 1956 records shows him as #95. LeBlanc requests that he be granted an honorary life membership. Pall, Chirco so moved. Passed.
S. CSNS Books
Mike Dennany wants the club to consider that we sponsor each MSNS member club that is also a member of CSNS to the tune of $100 to take advantage of the CSNS program to match such finds with $500 toward books for local libraries of a numismatic nature. No motion made, a few directors state that libraries will often just sell books donated and not put them out for loan.
XV. Board Member Comments
Bobrofsky: Requests each board member get a hard copy of contact info and committee assignments.
Marzilli moved that we make Sirna an Honorary Life Member for his service to our club. Dennany seconded. Passed unanimously.
XVI. General Membership Comments
Summerell: Asks if MSNS could buy remaining Schlag plaques.
Adjourn by motion at 9:30pm
Exhibits Committee Publicity Committee
Frank Passic chairperson John Chirco_______ chairperson
Dany Rothfeld________ member 2 Karl Mark Pall_________member 2
Dan Freeland_________ member 3 Mike Marotta__________member 3
Mike Dennany________ member 4 Don Chandler________ member 4
Mike Strub___________ member 5 Dr. Andrew Parks as president, a member
Julianna Wostyn_______member 6
Dr. Andrew Parks as president, a member
Auction Committee Membership/Outreach Committee
______chairperson Chuck Sharpe_________chairperson
Steve Friedman_______member 2
Steve Marzilli_________member 3 Julianna Wostyn________member 2
Charles Sharpe______ member 4 Steve Marzilli---_________member 3
Dany Rothfeld________ member 5 Don Chandler___________member 4
Dr. Andrew Parks as president, a member Dr. Andrew Parks as president, a member
Executive Committee Dealer Committee
Dr. Andrew Parks chairperson Steve Friedman_______chairperson
Joseph H. LeBlanc member 2 John Chirco____________member 2
Al Bobrofsky member 3 Mike Dennancy_______member 3
Julianna Wostyn______member 4
Dr. Andrew Parks as president, a member Dr. Andrew Parks as president, a member
Mich-Matist/Web Media Committee Convention Committee
Al Bobrofsky_________ chairperson Brian Malnar________chairperson
Mike Marotta__________ member 2 Joe LeBlanc________member 2
Charles Fenwick_______ member 3 Al Bobrofsky________member 3
Mike Strub__________ member 4 Bill Summerell______member 4
Julianna Wostyn_____member 5
Dr. Andrew Parks as president, a member Dr. Andrew Parks as president, a member
Education Committee Finance Committee
Karl Mark Pall_______chairperson Dr. Parks_________chairperson
Charles Fenwick_____member 2 Joe LeBlanc______member 2
John Chirco______member 3 Al Bobrofsky______member 3
Larry Sekulich_______member 4 Mike Marotta______member 4
Mike Dennany_______member 5
Past Presidents Committee
Ann Bobrofsky chairperson Don Charters member 5
Al Bobforsky member 2 Chuck Fenwick members 6
Ray Dillard member 3 Richard Watts member 7
Craig Whitford member 4 Kelly Finger members 8
Section 2. (a) The Governing Board shall meet in session during each Convention, and once during the period between January 15th and March 15th of each year and once during the period between August 1st and September 30th of each year to conduct the affairs of the Society, and shall meet at such time and place, within the State of Michigan, as shall be designated in a written notice issued by the President and mailed to each member of said Board at least ten (10) days prior to the time of the meeting.
(b) The Governing Board may also take action by a mail vote for which the proposed action to be voted on shall be designated and ballots will be mailed to each Board Member at least ten (10) days prior to the time that the vote shall be due, together with ballots for each member to cast his or her vote. The votes shall be designated either "Yes" or "No" or "Abstain" on the issue to be voted upon, and shall be signed by those Board members eligible to vote and shall return the ballot to the Secretary by mail, overnight delivery service (FedEx or similar) or may said ballot be faxed to the Secretary at the designated fax number (if a fax number is available), or may be emailed to the Secretary with a Adobe pdf attachment. The Secretary shall announce the vote results to the full Board.
(c) The Governing Board may also take action by an email vote for which the proposed action to be voted on shall be emailed to each Board Member at least four (4) business days prior to the time that the vote shall be due, together with a ballot "form" for each member to cast his or her vote. The ballot may be an Adobe pdf attachment or may be contained within the email. The votes shall designate either "Yes", "No" or "Abstain" on the issue to be voted upon, and shall contain a statement by those Board members eligible to vote that the email transmission of their vote constitutes their electronic signature of their respective vote. The email vote shall returned to the Secretary by email on or before midnight of the due date. In the event that any Board member who is eligible to vote does not have email access, the procedure outlined above for a mail vote shall be utilized for the Board member who does not have email access, and that person's ballot shall be mailed at least ten (10) days prior to the time that the vote shall be due. The Secretary shall announce the vote results to the full Board.
(d) If the Governing Board utilizes a voting procedure as set forth in subsection (b) or (c) above, the Secretary shall provide the phone numbers and email addresses of each Board member to all Board members so that Board members may discuss the pros and cons of the proposed action as they deem appropriate, prior to the vote thereon.
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