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FINANCE/INVESTMENT COMMITTEE MEETING

September 14 @ 11:00 am - 12:00 pm

REGIONAL ACCESS PROJECT FOUNDATION
FINANCE/INVESTMENT COMMITTEE MEETING
Monday  September 14, 2020 at 11:00 AM
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https://us02web.zoom.us/j/85929808665
CALL-IN Information 1 669 900 6833 Meeting ID: 859 2980 8665

This meeting is being conducted utilizing teleconferencing and electronic means only.  There will not be a physical location.  Members of the public may be able to participate by telephone, using the following dial-in information:1 669 900 6833 Meeting ID:  859 2980 8665 Reasonable accommodation:  Any individual with a disability who requires reasonable accommodation to attend or participate in this meeting may request assistance by emailing MReyes@RAPFoundation.org.  Notification at least 48 hours prior to the meeting start time will enable us to make reasonable arrangements to ensure accessibility to the meeting.

I.CALL TO ORDER

II.APPROVAL OF THE AGENDA

In order to meet Brown Act requirements, items may be added to the agenda only upon a decision by a majority of the Board of Directors to add the item because of a need for immediate action.

Motion                         Second:            Yes____   No____   Abstain

III. PUBLIC COMMENTS/PRESENTATIONS:

Public Comments: All persons wishing to speak are requested to provide their name so they may be recognized at the appropriate time. General comments regarding non- agenda items will be called at this time. Specific comments regarding agenda items will be called for during discussion of each item. Please be prepared to limit your remarks to 3 minutes.

 

IV.  Approve the Finance-Investment Committee July 29, 2020 ( #1) Draft Minutes.

 

              Motion                         Second:            Yes____   No____   Abstain

 

V. Review the Financial Statements for period ending July 31, 2020 and make recommendation to the RAP Board at the Sep. 23 meeting (attach. #2).

 

  1.     Latest information for revenue generated at Costco Shopping Center:

       Revenue Generated in 2nd Quarter of 2020  $395,181 – Forecasted amount $333,900

 

  1. Review CARES Funds – Skilled Nursing Facilities Special Project status

 

  1. Bank Transition to First Republic status

   

              Motion                         Second:            Yes____   No____   Abstain

 VI. Review the Center For Nonprofit Advancement Budget, especially the recent grants received or potential future grants to ensure staffing is adequate.

Grants include:

 

United Way of the Desert Capacity Building Grant $5,000 – Nonprofits negatively affected by COVID 19.

 

James Irvine Foundation Grant – Current and Proposal pending, same budget for each.  CNA allocated is $37,875 for consultants and $4,088 for CNA Director.  Share 50% of Community Services Manager’s time ($65,436 total amount).

 

IECF Capacity Building Grant $29,000 Administrative Cost

IECF  – $10,000 (Consultant Fees $6,300 and CNA Director $2,500) “Remote Work & Technology Adaption Nonprofit Training Certification Program” to overcome this growing gap that is limiting the region’s nonprofits’ missions and fundraising potential.

 

Desert HealthCare District application – Pending submittal

 

  RAP/CNA Staff is recommending a redesignation of funds, $60,000 previously designated to the Desert Fast Pitch event for 2020-21 for CNA staffing.

 

Motion                         Second:            Yes____   No____   Abstain

 

VII. Review the Investments Accounts with The Inland Empire Community Foundation and Wells Fargo Investment (attach. #3A 3A 3B)

 

              Motion                         Second:            Yes____   No____   Abstain

 

VIII.  Review the Reserve Funds Policy  (attach. #4)

 

IX. Board Comments or future actions. Quarterly Investment Review. Next tentative meeting set Oct. 12 at 11:00 AM.

 X. ADJOURNMENT: 

 

Agendas will be posted on the Foundation website – www.rapfoundation.org – a minimum of 72 hours prior to the meeting date. All public record documents for matters on the open session of the Agenda are available for inspection at the meeting listed in this Agenda, and at the following location three (3) days prior to the meeting date: Regional Access Project Foundation, 41550 Eclectic St.  Palm Desert, CA  92260.  If a public record document that relates to a matter on the open session of the Agenda is distributed less than 72 hours prior to the meeting date, the public record document shall be

available for inspection, at the same time it is distributed, at the address listed above. Upon request, this agenda will be made available in appropriate alternative formats to persons with disabilities, as required by Section 202 of the Americans with Disabilities Act of 1990.

Details

Date:
September 14
Time:
11:00 am - 12:00 pm