The conference call, called by Foundation Board President Gary Seevers, began at 1:30 p.m. April 28, 1998. Seevers introduced Carroll Brunthaver and Donna Dunn to the Board.

1. The agenda was reviewed and amended.

2. Seevers presented a request from Tracy Hewitt, Executive Director of C-FARE to delay awarding the $10,000 for their congressional fellow program until 1999. There was discussion of the intent of the letter, i.e., whether or not the funds could be used to support the congressional fellowship program or for the C-FARE fundraising effort. Seevers stated that we should assume the former.

   MOTION: Christy moved to approve the request from C-FARE as stated in the Hewitt letter. Boehlje seconded. Motion carried.

3. Christy reported that Archer, Daniels, Midland has responded to the Foundation/SS-AAEA proposal to support the undergraduate component of the Annual Meeting with a commitment of $17,500/year in 1998, 1999, and 2000. The funds are to be used as travel support for students to the Annual Meeting; equipment needs for the Academic Bowl; travel to fall Board meetings; and enhancing the student segment of the Awards Program. It included a contribution of $2,500 each year for the Foundation's general endowment fund. Seevers asked Luzar, Coffey, and Penny Diebel, senior advisor of the Student Section, to work with the Business Office to develop a protocol to utilize the funds to encourage undergraduate attendance at the Annual Meeting. Christy will circulate a copy of the original ADM proposal to the committee.

   A discussion ensued as to how best to leverage the donation to obtain multi year funding from industry for other ongoing programs such as graduate student participation. It was suggested that, prior to the Salt Lake City meeting, each Board member identify potential firms to target for fund raising. The Business Office will send a list of non-academic recruiters to board members. Boehlje and Parliament agreed to identify target firms to pursue for support. They will report at the Salt Lake City board meeting.

4. Parliament presented an update on new appreciation clubs. Chet McCorkle and Sandra Archibald have agreed to organize a club for Hal Carter, University of California/Davis. There was a review of progress on candidates for appreciation clubs in 1998. Penn is continuing to pursue plans to establish a D. Gale Johnson Club and announced that Bruce and Ed Schuh are agreeable to organize the club. Parliament announced that Burt Sundquist has agreed to organize a Philip Raup Club in 1999.

5. Boehlje reported on strategies to build the Foundation capital base to $1 million. Boehlje now has the names of approximately 81 potential major donors. It was agreed that the list needs to be reduced to the top 10 or 20 names to contact. He suggested that he could benefit from professional help in obtaining deferred gifts and bequests. Dunn will send him the names of some contacts. Boehlje will continue work on a strategy and present a concrete proposal to the Board at Salt Lake City.

6. Seevers reported on the activities of the committee reviewing Association and Foundation investment procedures, particularly utilizing an outside investment manager. Two meetings with outside investment management firms are scheduled and the committee will prepare a recommendation for adoption by the two boards in Salt Lake City.

7. Due to the large number of graduate students who have applied for travel grants to the Annual Meeting, Luzar requested that the board add $2,500 to it's 1998 $5000 graduate student travel allocation. The funds would be used to fund graduate students participating in the Case Studies competition. Parliament pointed out that the $1,000 approved in November for a breakfast was insufficient.

   MOTION: Luzar moved to allocate an additional $3,500 to the student program at Salt Lake City — $2,500 for graduate student travel and $1,000 for the Graduate Student breakfast (in addition to the $1,000 already in the budget for the Graduate Student breakfast). Christy seconded. Motion carried.

8. Seevers announced that he, through the Business Office, has sent a letter to all organizers of current Appreciation Clubs asking for recommendations as to how to give more formal ongoing recognition to the individual Appreciation Clubs. The organizers are responding. Seevers will compile a set of recommendations based on the results of those letters for the Salt Lake City Board meeting.

The meeting was adjourned at 2:30 p.m.

Respectfully submitted,

Rueben C. Buse
Executive Secretary
April 28, 1998