Board minutes - September 24 2017

Governance
1

5:00pm EST

Attendees:

  • Victoria
  • Dave
  • Ned
  • Todd

By-Law approval

Victoria and Dave reviewed the by-laws and want to update some language.

Discussing:

  • Article IV section 5
    • Language around notice of meetings.
  • Article IV section 6
    • Clarify “in person” to include “telepresence”
  • Article IX section 1
    • Ned changed Washington D.C. to State of California.
  • Article V sections 5 and 6
    • Defining the majority needed to remove officers/directors
  • Article V section 3
    • Change “Finance and Fund Development Committee” to “the Board” for approval of funds.
  • Article X
    • Define “books and records” to include electronic documents

Action items:

  • Ned: researching changes on quorum to ensure the changes we’re making are ok

All approved, all said “yea”.

Conflict of interest policy

Taken directly from 501©(3) form instructions.

All approved, all said “yea”.

Directors

Ned proposes Victoria, Todd, and Ned to be directors. All agreed.

Officers

Ned is CEO, Todd is Secretary, Victoria CFO. All agreed.

Bank account

Business banking likely to be done through Chase. Looking for no monthly maintenance fee and a low minimum balance for a 501©(3).

Action item:

  • Ned: Open bank account and ask about corporation located in CA, CFO in Mass. Need to ensure access to account is ok.

Other Action items:

  • Ned: Next step to incorporate is to submit documents approved herein for corporation status. Waiting on Y-Combinator application approval/denial before submitting documents.

Next steps:

Modest IT costs for low scale operations

  • $10-20 monthly for a web server, database, etc.

Review Y-Combinator application

  • Ned defined “mind bicycle” for the group.
  • Community, Education, or Media? Decided upon Education.
  • 1 minute video to include Ned and Todd
  • Discuss our interesting fact, action item to Todd
  • Elaborating some language around our organization, our competition (or lack thereof),

Action item:

  • Todd: Write a blurb about text selection difficulties in browsers and how to handle it in React. Write another blurb about the S.C. tech/entrepreneurial community response to the prototype.