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NUFF Board Meeting, Oct 30, 2010

Minutes for NUFF Board Meeting on Oct 30, 2010

Attendants: Michael Chen, Jiali Gong, Yeming Gu, Mei He, Zhe Ji, Jun Li, Xia Li, Ye Lin, Lingxia Wang, Shaojie Xu, Xinghe Yang, Lan Zhang

* Local alumni branches that are absent: Chicago, CNN, Dallas, Houston, NC, and PA

Time: Saturday, 10/30, 9-11PM EST

 

Scriber: Mei He

 

Agenda:

 

1) Introduction                                                                          10 min                  Michael Chen 

2) Annual report of operation                                                   30 min                  Xinghe Yang

3) Financial report                                                                    20 min                  Yemine Gu

4) Discussion:                                                                           All                         

    Topic 1: Election of Chairman and Vice Chairman              20 min

    Topic 2: Fundraising in 2010                                                30 min

5) Summary                                                                               5 min                     Michael Chen

 

Summaries:

 

·         The election of Nanjing University Friendship Fund (NUFF) Chairman and Vice Chairman is postponed till the election of Nanjing University Alumni Association (NUAA) is finalized.

 

·         NUFF and NUAA will work together to drive the NUFF fundraising at year end.

 

Details:

 

Xinghe Yang, NUFF President, reported NUFF operations in the past year. The overall NUFF operation cost is around 1% of total distributed funds.

 

1)      All donations for Sichuan Earthquake Funds have been fully used in earthquake relief, including $3,000 sent to Nanda to support Nanda students affected by the earthquake, more than $12,000 sent to China Red Cross, and more than $36,000 to build an electronic reading lab in 四川省绵竹市兴隆学校 (see pictures here).

2)      Besides the earthquake fundraising, NUFF held a few other fundraising activities: (1) email communications to NUAA local branches; (2) postal mailing to alumni who had donated to NUFF before; (3) Set up Wang Bo and Xiang Limin memorial funds.

3)      Awarded 16 NUFF scholarships and 4 Sun Jing Lee scholarships to current Nanda students, including 12 for $500 and 8 for $250. Li Xia from Boston branch attended the NUFF Scholarship Award Ceremony in January 2010.

4)      Launch website (http://www.nuff-us.org/) using Google free web service. Its contents include the NUFF introduction, its bylaw, programs, donation methods, donor list and the latest news.

5)      Distribute Newsletter for 2009. Newsletter for 2010 is under development.

6)      Red flags: (1) NUFF is experiencing insufficient incoming donations. It is hard to maintain the current 16 scholarships with a total annual cost of $6,500; it is even harder to expand the program or increase the award amount to keep up the currency deflation; (2) there is not enough participation in NUFF fundraising events from local NUAA branches.

 

Yeming Gu, Treasurer, reported the financial income and expenses for the past year. Please refer to NUFF Financial Report for detailed summaries. He requested assistance from a professional accountant.

 

The board members discussed the cooperation between NUFF and NUAA. NUAA will help to communicate and promote NUFF to alumni; NUFF will help to sponsor NUAA activities. The team brainstormed various ideas to enhance the partnership. Due to the tax complexity, board members will run the ideas by professional accountants.

 

Michael Chen, Board Chairman, urged the board members to work together for fundraising drive at year end. Good suggestions are discussed during the meeting:

 

1)      Branch leaders and Board members of NUFF act as role model and take accountability for fund-raising for the branch. Incorporate fund-raising activity into holiday gathering naturally and innovatively.

2)      Enhance the communication and increase the awareness of NUFF, such as, post of NUFF activity and efforts in branch’s event. Most of the funds will benefit the current students in Nanjing University in need of financial support.

3)      Organize activity with entrance fees. The surplus after cost will donate to NUFF

4)      Create branch-based donation list in financial summary to stimulate regional efforts.

5)      Leverage company’s activity (employee giving campaign) to increase the donation with company match.

 

Action Items:

 

1)      Seek profession accountant assistance for Treasurer Gu Yeming in terms of guidance and detailed operations.

2)      Draft 2010 NUFF newsletter. (Assigned to NUFF board members; target completion date: 12/1/2010)

3)      NUFF and NUAA branches work together to distribute NUFF year-end newsletter. (Assigned to NUFF board members and NUAA branch leaders; target completion date: 12/20/2010)

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