Board Meeting Notes 2025-01-07

Board Meeting Minutes
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Meeting Start:

Attendance

• Board Members
  • Nick
  • James
  • Uwe
  • Lindsay
  • Eric
  • Donzell
  • Ian (arrived late)

• Other Members
  • Sky
  • Ron
  • Andrew Morris
  • Andrew Locke
  • Carl

Agenda

• Consent Agenda
• Committee Reports
• Read mail
• Financial/membership report
• Review the PayPal and banking transactions
• Member leaving reason reports
• Check Freshdesk queue
• New business
• Old business

Minutes

Mail

• We got 3 dollars and a bunch of junk (at least 5")
• We also got a return receipt from the Illinois AG - they received our tax paperwork that Wingate mailed them (sent 12/24, received 12/27)

Committee Reports

• GenOps
  • No huge issues
  • Heat is holding up
  • We are out of tampons
  • We are not actually out of tampons
  • Some debate followed
• CTO
  • Sky is doing alright
  • We are considering migrating from Bitwarden to Onepassword
    • Would save us $250-400
    • Migration is painful
    • We decided not to
  • Stripe migration is complete!
    • For those who have access, we can now see real time MRR, churn, etc
    • All board members can get read access from Sky
    • We currently have $37,265.00 in MRR
  • Some people would like us to offer gift cards
    • It might be very complicated, or Stripe might make it easy.
    • Sky wants to trial it, no one seems particularly opposed. Technical questions were raised, but Sky felt confident.

Reports from Committees

Financial Report

• Chase Checking:
• Chase Savings:
• PEX:
• PayPal:

Membership Report

• Number of Members:
• Quorum:

Freshdesk

Login link: https://pumpingstationone.freshdesk.com

New Business

• The landlord sent us a counteroffer
  • He scribbled some notes on it and crossed out a bunch of sections that he didn't like
  • It says that we could buy the building in March of 2025
  • This might be a clerical error, or it might be a real offer
  • We could maybe possibly split our down payment across the next year, buying the building in Q1 '25, saving $100k in rent payments
  • Carl proposes putting all member vote spending on hold while we figure this out
  • Carl says the March '25 date is nothing to be alarmed about, it's just something that the landlord/his lawyer wrote down as a placeholder
  • We do not currently know how much we could afford to pay as an initial down payment in March
  • There was much discussion about why we don't know what we can afford, and how we could figure it out
  • Carl wants to spend the contingency fund to fund this early down payment
  • Andrew Camardella says that it makes no sense to propose spending the contingency fund when we don't even know how much money we have
  • Various members proceeded to hypothesize about what the landlord may or may not be willing to do, which is largely meaningless until someone actually asks him.
  • The landlord wants to remove the inspection contingency, so we are going to have to finalize inspections before we can sign an offer letter.
  • He also wants to remove the member vote contingency. We could run a vague member vote at any time, or we could wait until we have final terms.
  • Much debate followed about potential orders of operations
  • Ian will bring 3 quotes for inspections to the next board meeting
  • Lindsay will bring 3 quotes for appraisals to the next board meeting
  • Eric and Ian offered information about what is included in inspections and appraisals
  • Uwe suggests scheduling a meeting with our lawyer to go over the counteroffer in detail
  • Eric will get more info from the landlord tomorrow
  • We will presumably meet on the next off-Tuesday, 1/14, at 7pm depending on the results of Erics conversation
• Sky still wants to run a vote this week to spend $4500 on TVs to display information to the membership
  • Carl wants to put this vote on hold due to financial concerns discussed above
  • Books says we should spend this money before the inauguration, because of potential price ranges related to tariffs
  • Sky promises not to try to spend the money if the board asks her not to next Tuesday at 7pm
  • The Board will announce a special meeting of the Board for next Tuesday, 1/14/25
  • James and Nick close the meeting

Votes

• The Board of Directors votes to appoint Thomas Repasky and Pat Hoban to W.I.L.D. volunteer positions.
  • For: 7
  • Abstain: 0
  • Against: 0