Meeting of the Board of Trustees March 19, 2020, 8:00-10:00 Am The
Total Page:16
File Type:pdf, Size:1020Kb
Meeting of the Board of Trustees March 19, 2020, 8:00-10:00 am The Duquesne Club, Chalfant Room, 325 Sixth Avenue, Pittsburgh, PA 15222 Conference Dial In: 1-866-906-9888, Code: 2916309 Agenda I. Call to Order / Opening Prayer II. Moment of Mission III. Approve Minutes 1. 10/3/19 Draft Minutes, p.3-6 2. 12/11/19 Draft Minutes, p.7-9 IV. Consent Agenda a. Risk, Quality, Compliance, and Mission Advancement Committee Report, p.10 b. 2019-2020 Performance & Quality Improvement Plan, p.11-26 c. HR Committee Report, p.27 d. Investment Committee Report, p.28 e. 401K Oversight Committee Report, p.29-31 f. Nazareth Prep Board Report (March2020), p.32-33 g. 12/31/19 YTD Financial Statements, p.34-40 V. Governance & Nominating Committee Report 1. Recommend Candidates for Appointment, p.41-44 2. CSFN Ministry Leadership Retreat-April 4, 2020 - Cancelled VI. Accept 2018-2019 Audited Financial Statements, p. 45-61 VII. 12/31/19 Investment Report, p.62-66 VIII. Executive Vice President and C.O.O. Report 1. Fundraising Update 2. Master Plan, p.67-71 3. YES Fund 4. Golf Committee 5. Internship Referrals, p.72-74 IX. President/C.E.O. Report 1. Current Strategic Plan Update, p.75 X. Dates to Remember June 2 – St. Joseph the Worker June 4 – Nazareth Prep Graduation July 27 – HFI Golf Outing XI. Action Items 1 XII. New Business / Adjournment _____________________________________________________________________________________ Attachments: 10/3/19 Draft Minutes, p.3-6 12/11/19 Draft Minutes, p.7-9 Risk, Quality, Compliance, and Mission Advancement Committee Report, p.10 2019-2020 Performance & Quality Improvement Plan, p.11-26 HR Committee Report, p.27 Investment Committee Report, p.28 401K Oversight Committee Report, p.29-31 Nazareth Prep Board Report, p.32-33 12/31/19 YTD Financial Statements, p.34-40 CV’s of Board Candidates , p.41-44 18-19 Audited Financial Statements, p.45-61 12/31/19 Investment Report, p.62-66 Master Plan, p.67-71 Internship Program, p.72-74 Strategic Plan Update, p.75 2 Meeting of the Board of Trustees October 3, 2019, 8:00 to 10:00 am Peoples Gas-375 North Shore Drive, Pittsburgh, PA 15212 Conference Dial In: 1-866-906-9888, Code: 2916309 Present: Morgan O’Brien, Chair; Jim Haggerty, Vice Chair/Treasurer; Michael Sexauer, Executive Director; Charles Casalnova, Tim Holt, Mark Matera, Nick Vari Via Phone: Ralph Fischer, Secretary; Anna Clark-Emerick Excused: Sister Linda Yankoski, President; Laura Karet By Invitation: Megan McCue, Joseph Oliphant, Mark Palastro, Paul Stabile I. Call to Order / Opening Prayer With a quorum present, Morgan O’Brien, Chair, called the meeting to order at 8:00 am, and Michael Sexauer, Executive Director, opened in prayer. II. Moment of Mission The Trustees watched a video that was made over the summer to highlight the Holy Family Service Corps program. III. Approve 6/12/19 Draft Minutes The 6/12/19 draft minutes of the meeting of the Holy Family Foundation (HFF) Board of Trustees were presented for approval. A motion was made and seconded to approve the minutes as presented. All in favor. Motion carried. IV. Chairperson’s Report Trustee Self-Evaluation Results M. O’Brien pointed out the Trustee Self-Evaluation results in the meeting materials and asked for input from the Trustees. One of the items that was answered negatively most frequently across all three boards was related to recommending individuals for board service. M. Sexauer shared that there are four candidates pending approval by the Governance and Nominating Committee for board service, so appointing new Trustees to the Boards is in progress. HFF Trustees Report from 9-25-19 Holy Family Institute Board Meeting M. O’Brien then called on Mark Matera to review highlights from the 9-25-19 Holy Family Institute (HFI) Board meeting, including a proposed revision to the HFI Bylaws to include a Director Emeritus status and the first three individuals recommended for appointment as Directors Emeritus; the HFI Director self- evaluation results; the amended Risk and Compliance Plan; the potential expansion of the Journey of Hope program into a second site; a new county program called Hello Baby for which HFI has submitted a proposal that would entail providing services to at-risk families with a newborn; a review of the progress toward the 2019-2020 strategic plan goals; HFI advocating for rate increases in several programs; and the plans to being a comprehensive campaign quietly in 2020 and go public in 2021. M. Matera and J. 3 Haggerty will be attending all HFI Board meetings in the 19-20 year to enhance communication between the HFI and HFF Boards. V. Nazareth Prep Nazareth Prep Principal, Joe Oliphant, provided updates on Nazareth Prep’s enrollment and the new school year. There are 85 new freshmen enrolled this school year, the largest freshman class in the school’s history. The school is accepting transfer students, but there is a waiting list for the freshman class. In reviewing students’ addresses, Nazareth Prep has discovered that each year students are getting closer to the school in proximity. This is a positive finding from a transportation perspective. Fourteen sibling groups are attending Nazareth Prep currently, which, along with word of mouth referrals and winning the WPIAL championship, has accounted for the enrollment growth the school has seen this school year. Nazareth Prep is also seeing more public school students transition to private school. Admissions exams are now being coordinated with open house dates so that families can get a tour of the school immediately following the admissions exam. J. Oliphant then provided a description of the 9th grade mentor program, which is required for the students who participated in the Partner4Work Summer Bridge program, though the school has extended the mentor program to the entire freshman class. Mentors come to the school every two weeks for 30-60 minutes to mentor the freshmen students. Additional mentors are needed, and the Trustees were asked to consider being mentors or recommending someone to be a mentor. M. O’Brien shared that the University of Pittsburgh had its own mentor program in which the student athletes mentored younger children. M. Sexauer will contact John Pelusi to learn more about Pitt’s mentoring program. VI. Holy Family Institute M. Sexauer reviewed progress toward the 19-20 strategic plan goals as presented on the previously distributed strategic plan chart. He shared that the SHORES program did get a 12% rate increase, and HFI also expects an increase for the Allegheny In-Home program. These increases will be partially passed along to staff in the form of salary increases and will hopefully help to retain employees in those programs. HFI kicked off its comprehensive campaign on September 25, with the “Cocktails at the Convent” event. VII. Executive Director’s Report M. Sexauer then further discussed the comprehensive campaign. HFI is planning to do a master plan of the entire campus, the Annex Building, and the Seville School to assess use of space. DLA has been asked to prepare a proposal for completing a comprehensive master plan, which would include digitizing all blueprints. An initial estimate on the cost of this master plan is $55,000-$65,000. The master plan will be a physical manifestation of the strategic plan and will used as a case for support during the comprehensive campaign. Since this expense was not included in the 19-20 budget, the HFF Board was asked to approve this variance from the budget. Rather than adding this additional expense to the HFF budget, M. O’Brien offered to add the expense to the comprehensive campaign contribution of $500,000 that Peoples Gas has already pledged. The HFF Board agreed to this. M. Sexauer introduced new Director of Development Paul Stabile, who provided details on HFI’s Courage House award honoree, the current Miss Pennsylvania, who was adopted from HFI when she was a baby. 4 Contributions from individuals of PA income tax credits to the YES Fund and other scholarship funds increased to $293K. A recent allegation of abuse against HFI that occurred in the 1970’s has gotten widespread media attention. HFI is working in collaboration with its insurance carriers to handle this claim, and no additional media coverage has ensued. Nazareth Prep will be forming an internship committee whose main goal will be to secure additional funded internships. The Trustees encouraged the inclusion of current internship partners on the committee who have been very engaged. Nazareth Prep partners with approximately 60 companies who host students and provide a contribution, with a total of about 130 funded internships. The average contribution per student is about $11,000. The Trustees suggested asking paying companies to if they would be interested in funding students whose internships are at nonprofits. VIII. Finance Report Jim Haggerty reported the highlights of the second quarter investment report. The portfolio value as of 6/30/19 was $7,475,747, gross of fees. Since May, there have been two withdrawals totaling $700,000 ($300,000 in May and $400,000 in July). The year-to-date return of the portfolio is 12.28%, net of fees. The equity/fixed income allocation remains 64/36. The planned withdrawal from the portfolio to support Nazareth Prep this fiscal year is $650,000, which will hopefully be the last withdrawal for the high school. The portfolio is designed with a long-term outlook, so changes to funds and allocations are not immediately made in reaction to drops in the market. Mark Palastro, CFO, then provided an overview of the 6/30/19 HFF unaudited results.