President Joe Coffey called the meeting to order. Board members and guests were welcomed. An announcement was made for the upcoming fall Board meeting, on December 3-5, 1999.

1. The Meeting Agenda was reviewed by Joe Coffey.

2. The minutes from the April 19th, AAEA Foundation Governing Board conference call was presented for approval.

3. Discussion began with the financial report including foundation contributions for 1999. The Foundation Financial Report from Vanguard was presented by Mike Boehlje, discussion followed. The board will request a statement of policy guidelines be provided by Vanguard on all further reports. It was agreed to address the Vanguard allocation at the December meeting. The finance committee will contact Vanguard regarding the allocation.

   Motion: Gary Seevers moved the Finance report be accepted as written, and that the board review the Vanguard asset mix as a part of its annual investment planning at the fall board meeting. Seconded by J.B. Penn. Approved.

4. Mike Boehlje presented a report on the Appreciation Clubs. The board noted the exceptional efforts of the organizers of the Raup and Paarlburg Clubs.

5. Mike Boehlje reported on the Capital Campaign. Lona Christoffers gave a review of the Annual Meeting Fundraiser. The capital campaign includes appreciation clubs formed in 1998 and 1999, Leadership donations and other contributions obtained to date, not including contributions from the 1999-membership form. The capital campaign still needs $20,000 to reach the $200,000 goal.

6. Lona Christoffers presented the operating budget report for the AAEA Foundation. Discussion followed, the board requested a revised report to be mailed from the AAEA office to the Foundation Board.

   Motion: Gary Seevers moved the board agree to produce an annual report for 1999, to include the comparable statistics format on a calendar year/fiscal year basis, to be prepared by the Past President. The report will be prepared early 2000 for fund raising purposes. Seconded by Mike Boehlje. Approved.

   Further discussion on the investment report followed.

   Motion: Laurian Unnevehr moved the Finance Committee would work with the business office to establish and develop standard financial reports. Seconded by Mike Boehlje. Approved.

7. Jane Luzar reported on program fund allocations. Calls for pre-proposals have gone out. The board suggested a letter to committee chairs be sent two weeks before the AAEA Annual Meeting requesting ideas for funding, with follow-up two weeks after the meeting.

8. President Joe Coffey brought to discussion an Essay contest approved by the AAEA Association Board. The board was asked if they would consider donating $5000 to the contest.

   Motion: Walt moved the Foundation Board contribute $5000 to the Essay Contest. Seconded by John Schnittker. Approved.

9. Gary Seevers presented nominations for Foundation officers and appointed board members for 2000.

   Motion: Gary Seevers moved Joe Coffey as president, John Schnittker appointed to a full three year term on the board, Laurian Unnevehr to be the Vice-President for Programs and Paul Christ the Vice President for Finance, for one-year terms. Seconded by J.B. Penn. Approved.

   Motion: Walt Armbruster moved Gary Seevers take a one-year unexpired term vacated by John Schnittker. Seconded by J.B. Penn. Approved.

10. Laurian Unnevehr reported on recognition of appreciation clubs and the use of appreciation club funds, with the following proposal.

    • Use the AAEA web page to honor the appreciated and keep a record of why they were appreciated available to the membership

    • Feature one to two club(s) per year at the meetings in some way

      • printed program

      • Foundation Breakfast program

    • Include some report on activities funded by the Foundation that are in line with that Clubıs objectives in both of the above

    • Use opportunity to send a targeted letter to contributors

    • Do not tie funds to a specific prize, lecture, or other element of the program

    Motion: Gary Seevers moved the Foundation Board accept the Christ/Unnevehr recommendations on recognition of clubs in principle with details to be worked out at the next board meeting. Seconded by John Schnittker. Approved.

    Motion: Mike Boehlje moved there be an Ad Hoc Committee to recommend at least two more appreciation clubs to be identified at the Fall Board Meeting. Seconded by Gary Seevers. Approved.

11. An Ad Hoc Appreciation Club Selection Committee was appointed. Members are John Schnittker as chair, Stan Johnson, Bob Taylor and Otto Doering.

12. Appointments:

    Foundation Board President Joe Coffey appointed the Foundation Finance Committee of Paul Christ as V.P. (chair), John Schnittker, and Stan Johnson.

    The Foundation Program Committee appointments are Laurian Unnevehr as V.P., (chair), Mary Marchant and Otto Doering.

13. The December agenda will include the AAEA Foundation policy and bylaws update.

14. A scheduled fall conference call was set for Thursday, October 28, 3:00 CST.

The Foundation Board Meeting adjourned 5:25 p.m., August 8, 1999.

Respectfully submitted,
Donna French Dunn
Executive Director