FIXED INCOME ANALYSTS’ SOCIETY, INC.
Board of Directors Meeting Minutes
Tuesday, November 1, 2022
PRESENT: Monica Aggarwal, Jessica Broughton, Joyce Chang, Ralph DeCesare, Mark Howard, Pawel Mosakowski, Henry Shilling, Robert Slowko, Mariarosa Verde, Lauren Nauser
Absent: Gregg Lemos-Stein, Erin Lyons, Diane Vazza
Acceptance of Minutes from 9/27/22:
Mark Howard made a motion to accept the minutes; Jessica Broughton seconded the motion. The minutes were approved as written
New Member Report: One new rejoin; Steven Hale. Ralph DeCesare made motion to accept, Pawel Mosakowski 2nd the motion.
Welcome Remarks made by Monica Aggarwal:
Monica Aggarwal outlined briefly the agenda for the evenings meeting.
Financial Report:
Pawel Mosakowski reviewed the P&L statement, as well as presented the 2022-2023 Pro Forma Budget exercise
2021-2022 showing a loss, but that is primarily due to Corporate Sustaining Memberships that were billed later and did not hit the budget by end of September.
It was suggested moving forward that the Reinvested Dividend Line on the P&L statement be changed moving forward to Bank Deposit Income
Pawel reviewed the highlights of the Pro Forma Budget for 2022-2023
HOF revenue target of $200,000
Membership dues $25,000 consistent with prior years
Corporate Sustaining Membership $75,000
Meeting Revenue $7,500
New $10,000 line item from Fordham
Additional staffing currently not accounted; will have an intern
Estimated gross profit $342,000
With increased management fee, food and beverage costs, and technology investment expect to break even for the year
Technology Project Update:
Robert Slowko and Lauren Nauser proposed website launch be done in two phases in order to be ready for major events such as WIFI and ESG:
Proposal suggested a new front facing skin that would utilize the old back end
Phase 2 would complete back-end project; the cost would be an additional $5,500
After much discussion it was decided by the BOD that Aspire should stay on the original course of completing the project within the original 6-month time frame
