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2019-02-28

MINUTES NO. 131

 CENTRAL VIRGINIA COMMUNITY COLLEGE
EDUCATIONAL FOUNDATION, INC.
BOARD OF DIRECTORS MEETING
Merritt Hall, Room 5118
February 28, 2019 at 8:00 am
 
The Central Virginia Community College Educational Foundation Board of Directors met at 8:00 am on Thursday, February 28, 2019.
 
Attended Name Attended Name Attended Name
X Fred Armstrong       Karen Simonton
X Vivian Brown   Chet McPhatter   Georgann Snead
X Lewis Bryant   Jim Mercadante   Marjette Upshur
X John Capps X Robert O'Brian   John Watts
        X Cathy Woody
  Amy Gallagher X Kim Payne   Lloyd Tannenbaum
X Greg Graham   Reggie Pugh X Chris Bryant
  Larry Jackson   Katherine Pumphrey X Catherine Rice
  Bif Johnson X Mitch Reaves X Christina Brannan
X John Kenney   David Scott   Kingsley Chukwu
X Bob Leveque        
  X = in attendance
 
CALL TO ORDER
Fred Armstrong, president of the Foundation, called the meeting to order.  Mr. Armstrong asked Chris Bryant, Executive Director, to introduce our guest, Kourtney Liggon.  Ms. Liggon told the board her CVCC story.  She is a 2012 graduate of the Radiologic Technology program and a 2017 graduate of general studies.  She started her story by saying her mother Connie Deacon has been employed by CVCC for around 20 years, so she grew up in the halls of CVCC.  She couldn’t wait until she was old enough to come to CVCC.  When she started at Heritage High School, she completed dual-enrollment classes.  She was accepted into the Radiologic Technology program right out of high school.   She told the board that Priscilla Liggon changed her life completely.  Her instructor encouraged her as a student to become an intern.  She now works full-time at Centra and has been a member of the Virginia Society of Radiologic Technology, serving three years as the recording secretary.  She is a member of the American Society of Radiologic Technologists and is a national representative and advocate who helps set practice standards.  She is proud to a CVCC graduate, like her mother, brother and now her husband, who is an adjunct professor at CVCC.  She will be forever grateful to CVCC for all the opportunities she has been given.
 
APPROVAL OF MINUTES
On a motion from Kim Payne and seconded by Bob Leveque, the minutes of the November 14, 2018 meeting were approved by the Board.
 
COLLEGE REPORT
Dr. Capps informed the board that the College was fortunate to receive a Title III grant worth $1.96 million.  This grant helps higher education institutions serve at-risk students.  CVCC hired four navigators to help students with the on-boarding process prior to learning the College had received the grant.  He stated CVCC had to revert to “Plan B” which was to hire a Community Connections Coordinator.  This person will connect CVCC students to the resources (housing, food banks, health care, mental health care, child care) they need to come to college and remain in college.   
 
He then discussed a new initiative of Governor Northam’s G-3 Initiative, “Get Skilled, Get a Job and Give Back”.  If approved it will offer, in the next biennium, tuition-free for high-demand CTE fields.  Dr. Capps stated with the influx of students from this initiative, the governor has given his approval to apply for a Capacity Building Grant ($300,000) to strengthen the CTE programs and refine the career CTE pathways.  CVCC plans to create a Regional Career Education Academy for dual enrolled students, recent high school graduates and adult learners.  Dr. Capps stated that all regional high school superintendents endorse this idea with the location being at CVCC.  Mr. Leveque asked where the facilities for this academy will be located.  Dr. Capps stated that the Framatome building has space and with the $20 million update of Amherst and Campbell halls, there will be space available for the academy.  Greg Graham asked about the curriculum development and would it meet national standards.  Dr. Capps informed the board that CVCC will be working with schools and employers to make sure all credentials meet the needs of industry.
 
TREASURER’S REPORT
 
Lewis Bryant informed the board of the major expenditures during the quarter.  Unrestricted funds consisted of the preparation of the audit totaling $6,375. Restricted funds were program services for scholarships for $156,916.37.  Endowed funds were program services for scholarships for $17,912.25  He reported change in fund balances with private gifts at $194,520.10, investment income at $46,590.41, and Gain (Loss) on Investments at $30,674.98.  He reviewed the balance sheet with cash being $450,819.09 and investments at $2.9 million.
 
Mr. Bryant reported that market value of investments at year end were $2.908 million and at the end of the second quarter were $3.230 million.
 
A motion to approve the quarterly report was made by Mitch Reaves, seconded by Robert O’Brian, and approved by the board.
 
FINANCE COMMITTEE REPORT
Ms. Gallagher presented items that the Finance Committee discussed at their meeting on February 4, 2019 meeting.
 
She informed the board that this past December was the second worst month in history with record lows.  Even though there was a decline in the portfolio, everything was in target range as stated in the Investment Policy and there was no shift from one category to another.  Ms. Gallagher informed the board that total revenue was $288,651 with expenses are in budget.
 
A motion to give Third Party Access Authorization to Chris Bryant and the Resolution of Board of Directors Certificate of Incumbency to Lewis Bryant and Christian Brannan was made by John Kenney, seconded by Cathy Woody and approved by the board.
 
RESOURCE DEVELOPMENT COMMITTEE REPORT
In John Watts’ absence, Chris Bryant presented items that the Resource Development Committee discussed at their meeting on January 29, 2019.
 
Mr. Bryant informed the board that he is currently meeting with all 22 board members to get their perspectives of the board and what they think are the strengths and weaknesses.  He stated that fundraising will probably be behind another 60 days, and likely for the remainder of the fiscal year.  He said he will be reaching out to the Alumni over the next six months.
He explained the 4-parts he uses when creating a relationship:  Identification which is identifying and building a database of prospects; Cultivation of the relationship; Solicitation in asking for the right gift; and Stewardship by thanking the donors for their gifts.  
 
SCHOLARSHIP COMMITTEE REPORT
Greg Graham presented items that the Scholarship Committee discussed at their meeting on January 31, 2019.
 
He stated that the foundation has awarded $700,000 in scholarships has paid $221,000.  He stated that the scholarships are always over-awarded due to students not using the money completely.  Mr. Graham stated that Mr. Bryant is looking to meet with donors to see how to cultivate relationships.  He informed the board that the Tobacco Commission is considering a 2019-2020 gift of $315,000.
 
GOVERNANCE COMMITTEE REPORT
Kim Payne presented items that the Governance Committee discussed at their January 29, 2019 meeting.
 
Mr. Payne informed the board that Ryan McEntire has retired from the board, Tulane Patterson has completed his term on the board and Tim Chatlos with Georgia Pacific has been relocated to Atlanta.  He informed the board that the committee is looking for recruit members from Appomattox and Campbell counties. 
 
The committee recommended that all future board packets be emailed to each member with anyone needing a printed copy to let Catherine Rice know.
 
FOUNDATION REPORT
 
Chris Bryant stated he has work to do.  He is excited about calling on the board and hearing their plans for the foundation.  His next order of business is to engage the alumni.  He wants to encourage them to new pages on the website for Alumni and hopes to have some type of event to engage alumni.
 
Mr. Bryant informed the board that the Employee Campaign is going strong.  He is looking to garner prizes for the campaign if anyone is interested in sharing.
 
OLD BUSINESS
 
NEW BUSINESS

 

ADJOURNMENT
There being no further business, the meeting adjourned at 8:50 a.m.  The next meeting is scheduled for Tuesday, May 14, 2019.
 
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