CPCU Board of Directors Meeting – Notes 5/13/2014
Board members present: Connie Quam, Lori Molina, Victoria Kent-Dotson, Susan Vann, Monica Buchanan
All Industry Day: We discussed All Industry Day. Connie suggested listing the Interest Group that each member is involved in, either by listing the name of the Interest Group after the name of the individual in the program, or by creating a separate list for each Group. All Industry Day will be October 23. Our theme is Knowledge, Empowerment, and Engagement.
Leadership Summit : Connie attended the CPCU Leadership Summit. She discussed the idea of using available technology for our Chapter to have speakers do virtual presentations at our meeting or even at I-Day. Connie also brought up an idea for Ethics Month – doing a presentation that would be entertaining, such as a game-show or murder mystery format.
Paying for “Outside” Members: The board discussed payment for lunches and I-Day registration fees for members who are not employed by State Farm (those who are with other companies, retired, etc.). A motion was made and carried that we would pay for lunches fees for these members and I-Day for members who attend at least three events in a year, or who are active in a committee/Interest Group/board member (needs to be participating either at the chapter or national level to have I-Day paid)
Yearbook Ad: We discussed partnering with the LA Chapter again in having an advertisement in the 2014 conferment program to congratulate our new designees. Connie is going to reach out to the LA chapter to see if they would like to do this again this year as we did last year.
Taxes/Incorporation: Connie had to redo some of our incorporation paperwork as it “aged out” while we were waiting for approval. It appears we will have to pay a fee to the IRS of $850 based on our gross receipts. A motion was made and carried to pay this fee. UPDATE: Jennifer Polachek from the CPCU society verified this is a one-time fee as long as we don’t do anything to lose our tax exempt status. We will have annual fees but the amount is not yet known. Jennifer will advise us once she has that information but it sounded like we will have to pay formation fees and annual registration agent fee of $127.80. There may be California State Corporation filing fees but they are usually under $50.
Circle of Excellence: We have a plaque for each year’s award and we will have a presentation at a future meeting when we can share this success with our membership and put the new medallion on the plaque.
Insurance: Our policy has been received with a limit of $1,000,000 liability.