Here - International Pentecostal Holiness Church
Here - International Pentecostal Holiness Church
Here - International Pentecostal Holiness Church
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Page 48 of 132<br />
Meeting Minutes<br />
IPH Foundation Board<br />
March 29, 2010, 8:25 a.m. Eastern Time<br />
Hilton Garden Inn @ RDU Morrisville (Raleigh), NC<br />
ATTENDANCE<br />
Mr. George Wilson, Mr. David McClain, Ms. Beth Beacham, Mr. Moses King, Mrs. Gwen Parker, Mr.<br />
Eldon Overstreet, Mr. Bill Cox, Mr. Reggie Till<br />
Minutes by: Julie B. Martin of Till & Butler CPAs, PLLC<br />
OPENING and INTRODUCTIONS<br />
The meeting was called to order by Reggie Till, IPHF President and Chairman. He welcomed the<br />
members of the Board to their first meeting; This is the first meeting of the IPHF Board since the<br />
members were confirmed by the COB in February 2010.<br />
Mr. Till gave a devotion and Mr. Wilson led the group in an opening prayer.<br />
Each Board Member gave a brief self introduction.<br />
INVESTMENT ADVISER CONFERENCE CALL<br />
Syntrinsic Investment Counsel Managing Partner, Ben-Valore Caplan called in from his Denver, Co<br />
office. Mr. Valore-Caplan presented via conference call various Syntrinsic documents related to<br />
institutional and retirement investments. As a result of the discussion that followed the presentation, the<br />
following points are noted:<br />
Syntrinsic’s team will assist the Board’s Investment committee to revise the IPHF Investment<br />
Policy Statement.<br />
In response to a question, Mr. Valore-Caplan explained that the IPH Foundation’s target<br />
investment return had been 6-7% on an annual basis, but that 5% was more in line with today’s<br />
market.<br />
BYLAWS DISCUSSION/AGENDA<br />
The Board referenced the Bylaws in the notebook. Mr. Till noted the Bylaws do not allow an employee<br />
to hold a position on the Board, and that he will no longer be chairman of the board in accordance with<br />
the Bylaws.<br />
The following are points of discussion and action items as a result of reviewing the Bylaws:<br />
Article IV-Section 7, the group discussed discrepancies related to positions.<br />
o There is a conflict with the Secretary/Treasurer duties and those of the President.<br />
Since the Secretary/Treasurer is not an employee, some of the duties would need to<br />
COB Meeting July 19-20, 2010
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