MEETING OF BOARD OF DIRECTORS ONLINE MEETING OCTOBER 16, 2020, 9:00 AM INFORMATION PACKET TAB 1 CHAIR’S WELCOME & AGENDA Louisiana Humanities Center at Turners’ Hall 938 Lafayette Street, Suite 300 New Orleans, LA 70113 504.523.4352 MEETING AGENDA – BOARD OF DIRECTORS MEETING INFORMATION Date: 10/16/2020 Location: Online Time: 9:00 AM – 12:00 PM Meeting Type: Online Call‐In Number: +1 (646) 558‐8656 I.D. / Passcode: 962‐5963‐3643 / 041480 Called By: Mount, Board Chair Online Access: LEH Board Zoom Link Facilitator: Mount, Board Chair Note Taker: Rambin, Staff PREPARATION FOR MEETING Please Read: October Board Meeting packet, available online by 9/30/2020 at https://leh.org/board‐ portal/ / Password to board portal: booker (new) Please Bring: Copies of packets will be available via board portal and upon arrival. AGENDA ITEMS PRESENTER TIME 1 Chair’s Welcome and Roll Call Mount [5 min] 2 Executive Director’s Report Restovic [40 min] a) Covid‐19 Operations Update (LA Phase 3) Restovic [5 min] b) Hurricane Laura NEH Emergency Request Restovic [5 min] c) Strategic Plan Presentation Leadership [20 min] d) Board Portal Presentation Austin [10 min] 3 Finance Committee Report Ary [40 min] a) FY20 Financial Reports Review Carrier [5 min] b) Investment Portfolio Update Brewster [15 min] Carrier [15 min] c) FY21 LEH Budget Review [5 min] d) Institutional Advancement report Bourg 4 THFJSC Committee Report Adams [10 min] a) THFJSC Construction Bid 5 Strategic Planning Committee Report Mintz [15 min] a) FY21 Governance Items 6 Outreach Committee Report Haynie [5 min] a) Bright Lights 2020 Update 7 Action Items & Adjournment Mount [10 min] ACTION ITEMS RESPONSIBLE DUE DATE A Review/Approve FY 21 Organization Budget [Mount/Restovic] 10/9/2020 B Review/Approve FY 21 Officer Term Renewals [Mount/Restovic] 10/9/2020 C Review/Approve FY 21 Leadership Slate [Mount/Restovic] 10/9/2020 D Review/Approve New Board Member Recommendations [Mount/Restovic] 10/9/2020 E Review/Approve FY 21 Board Meeting Calendar [Mount/Restovic] 10/9/2020 F Review/Approve Rebirth and Rebirth PL Grants [Mount/Restovic] 10/9/2020 G Review/Approve June 2020 Board Meeting Minutes [Mount/Restovic] 10/9/2020 Business Meeting Agenda Template © 2011 Vertex42.com. http://www.vertex42.com/WordTemplates/meeting-agenda.html Louisiana Humanities Center at Turners’ Hall 938 Lafayette Street, Suite 300 New Orleans, LA 70113 504.523.4352 OTHER NOTES OR INFORMATION New Board Member Orientation: Thursday, 11/19/2020 @ Online; 12:00 pm – 1:30 pm November Board Meeting: Friday, 11/20/2020 @ Online; 9:00 am – 12:00 pm SESSION 1‐‐PT Head Start Governance Training: Thursday, December 3, 2020; TBD @ Online SESSION 2‐‐PT Head Start Governance Training: Friday, December 4, 2020; TBD @ Online Business Meeting Agenda Template © 2011 Vertex42.com. http://www.vertex42.com/WordTemplates/meeting-agenda.html TAB 2 EXECUTIVE DIRECTOR REPORT Covid‐19 Operations Update (LA Phase 3) Hurricane Laura NEH Emergency Request Strategic Plan Presentation Board Portal Presentation TAB 3 FINANCE COMMITTEE REPORT FY 20 Financial Reports Review Investment Portfolio Update FY 21 LEH Budget Review Institutional Advancement Report Louisiana Humanities Center at Turners’ Hall 938 Lafayette Street, Suite 300 New Orleans, LA 70113 504.523.4352 To: LEH Board Subj: Finance materials for October Board Meeting September 30, 2020 Dear LEH Board members: This cover letter provides a brief overview of the materials following here for next week’s Board meeting.. 1. FY20 Year to Date (10 months) Statements of Activity and Financial Position for LEH and PTI 2. FY21 LEH Budget 3. September 30, 2020 Investment Portfolio report from Crescent City Capital The primary focus of the FY21 LEH Budget is the program activity of the LEH divisions (Content, Education, HFJSC) and the administrative support for those programs. However the budget presentation also includes an organization-wide snapshot (LEH + PTI) which captures the Head Start revenues/expenses and reflects the impact of the new Lafayette/Iberia Head Start grant on the larger picture. And for the first time, the budget presentation includes (at the end) detailed informaton on the construction budget and eventual Operating Statement for the new Helis Foundation John Scott Center. If you have limited time to devote to the financial section, I recommend focusing on the FY21 LEH budget since this does require a board vote. Best regards, Pat Carrier Attachments to this letter: 1.LEH Statement of Activity Summary August 2.LEH Balance Sheet August 3.PTI Statement of Activity Summary August 4.PTI Balance Sheet August 5.Crescent City Capital Investments report LEH Statement of Activities August 31,2020 Year To Date Prior Year To Date % change Year Ending 08/31/2020 08/31/2019 FY20 v FY19 10/31/2019 Notes/Comments Operating Revenue Fundraising Events Revenue 0.00 74,825.00 N/A 74,825.00 Bright Lights canceled; $40,000 in FY20 deposits on balance sheet Grant Revenues Grant Revenue - Other 41100 - Foundation Grant Revenue - TR 820,690.21 711,614.60 15% 657,709.59 41200 - Corporate Grant Revenue - TR 0.00 197,113.00 -100% 672,113.00 See Shell in Corp donations 41250 - Federal Grant Revenue - TR 1,137,228.70 1,087,000.51 5% 1,016,580.00 41300 - Nonprofit Grant Revenue - TR 9,000.00 0.00 4,000.00 43100 - Foundation Grant Revenue - UR 82,102.10 170,147.38 -52% 74,669.05 43150 - State Grant Revenue - UR 7,500.00 2,964.00 153% 2,964.00 43250 - Federal Grant Revenue - UR 413,090.12 0.00 0.00 PPP funds applied to payroll 43300 - Nonprofit Grant Revenue - UR 0.00 4,000.00 -100% 0.00 Total Grant Revenue - Other 2,469,611.13 2,172,839.49 14% 2,428,035.64 Total Grant Revenues 2,469,611.13 2,172,839.49 14% 2,428,035.64 Program Revenue 43700 - Licensing Revenue - UR 61,200.00 97,123.44 -37% 96,621.76 43750 - Contractual / Service / Consulting Revenue - UR 19,050.00 24,641.40 -23% 24,641.40 43800 - Advertising Revenue - UR 63,253.00 65,218.00 -3% 65,218.00 43850 - Single Copy Sales Revenue - UR 0.00 205.78 -100% 208.76 43900 - Subscription Revenue - UR 28,353.08 13,890.61 104% 8,952.22 43950 - Book Sale Revenue - UR 1,483.93 11,306.84 -87% 10,846.84 43975 - Wholesale Magazine Revenue - UR 428.40 1,206.90 -65% 1,421.10 Total Program Revenue 173,768.41 213,592.97 -19% 207,910.08 NOTE: Content/Magazine and book sales are actually slightly increased YTD Investment Income 252,988.08 234,534.39 8% 302,207.68 Contributions 41350 - Individual Contributions - TR 3,000.00 0.00 20,000.00 41400 - Board Contributions - TR 10,000.00 0.00 0.00 43200 - Corporate Donation Revenue - UR 175,005.00 17,780.40 884% 17,780.40 See note above in Corp Grants 43350 - Individual Contributions - UR 33,691.27 76,412.81 -56% 58,814.83 43400 - Board Contributions - UR 500.00 14,750.00 -97% 14,750.00 Total Contributions 222,196.27 108,943.21 104% 111,345.23 Pledge Commitments 0.00 0.00 19,587.94 Revenue - Other 44350 - Indirect Support (Ouachita) - UR 372,522.01 225,000.00 479,105.00 FY20 draws done monthly rather than quarterly 41450 - Other Revenue - TR 0.00 (2,288.40) (2,288.40) 44250 - Other Revenue - UR 299.60 246,397.78 280,192.04 FEMA Insurance Flood proceeds in FY19 Total Revenue - Other 372,821.61 469,109.38 -21% 757,008.64 Rental Income 155,885.14 197,162.63 268,488.63 Total Operating Revenue 3,647,270.64 3,471,007.07 5% 4,169,408.84 Expenditures Direct Program Expenses 50000 - Cost of Goods Sold 430.43 2,954.69 -85% 3,003.00 61080 - Publishing Contributor Expense - Text/Copy 16,344.42 31,619.88 -48% 35,575.88 61083 - Publishing Contributor Expense - Photos/Images 6,166.73 3,409.99 81% 5,723.68 61084 - Publishing Contributor Expense - Editorial 11,889.75 8,949.50 33% 8,949.50 61086 - Publishing Contributor Expense - Other 208.76 2,365.05 -91% 2,565.71 63750 - Supplies - Content/Artwork (full ownership) 0.00 480.15 -100% 480.15 63850 - Supplies - Swag 478.35 2,271.79 -79% 2,742.86 63900 - Supplies - Books 40,190.21 74,943.54 -46% 68,524.12 64200 - Supplies - PRIME TIME Program Support Stipends 82,294.49 78,218.57 5% 77,718.58 Total Direct Program Expenses 158,003.14 205,213.16 -23% 205,283.48 Covid impact on programs Personnel 1,415,871.68 1,269,540.85 12% 1,514,659.82 Occupancy 849.62 1,574.25 -46% 31,656.70 Professional Fees Total Professional Fees 332,846.28 419,109.53 -21% 521,097.38 Covid impact on programs Total Grants Awarded Expense 528,820.00 94,250.66 461% 185,916.16 NEH CARES Act plus matches from corp and indiv donors General and Administrative Expenses Advertising and Promotion 7,594.96 5,952.42 5,773.70 Amortization 0.00 627.57 627.57 Bad Debt Expenses (55.00) 3,136.48 24,147.17 Business Licenses and Permits 446.00 3,939.38 3,328.38 Conferences, Conventions, and Meetings 20,785.41 61,552.18 65,333.94 Covid impact on programs Copying and Printing 85.00 20.00 20.00 Depreciation 75,348.97 72,508.84 88,295.22 Due and Subscriptions 25,637.61 28,161.74 28,478.72 Equipment Purchase and Rental 115,856.38 103,307.51 108,083.22 Finance Charges 3,981.80 3,586.68 4,398.95 Insurance 57,774.18 36,539.16 39,615.52 Miscellaneous Expense 18,892.47 91,130.30 39,120.17 Office Supplies 58,007.17 46,301.72 49,865.53 Printing and Publications 73,402.73 76,878.04 105,416.77 Postage and Delivery 1,520.38 19,968.90 28,080.77 Repairs and Maintenance 104,135.58 125,482.96 152,078.29 Taxes 18,020.07 1,936.96 1,161.93 Telecommunication 14,607.32 13,991.66 16,665.75 Travel Expenses 50,763.74 80,493.80 105,275.30 Covid impact on programs Utilities 39,798.66 62,413.22 63,381.62 Allocated Indirect Costs 18,400.00 0.00 0.00 Total General and Administrative