BOARD MINUTES: JESCO Inc. OFFICIAL RECORD OF THE MINUTES MEETING DATE: 1-23-2011 MEETING LOCATION: 1128 MAIN STREET EUDORA, KS All in attendance: - Duane Smith - Darrel Smith - Doug Smith - Debi Hamlin - Sherry Broers - Lori Natarajan - Jim Smith AGENDA ITEMS COVERED: 1. ELECT OFFICERS: - PRESIDENT: DUANE SMITH WAS ELECTED WITH A UNANIMOUS VOTE. - VISE PRESIDENT: DARREL SMITH WAS ELECTED WITH A UNANIMOUS VOTE. - TREASURER: DUANE SMITH WAS ELECTED WITH A UNANIMOUS VOTE. - SECRETARY: JIM SMITH WAS ELECTED WITH A UNANIMOUS VOTE. 2. DISCUSS/VOTE ON BYLAWS: - ALL BYLAWS WERE ACCEPTED WITH A UNANIMOUS VOTE. 3. DISCUSS/WRITE MISSION STATEMENT: - A MISSION STATEMENT WAS SUBMITTED BY DUANE SMITH AND WE VOTED UNANIMOUSLY TO MAKE IT OUR OFFICIAL MISSION STATEMENT. - PROVIDE ASSISTANCE TO PEOPLE AND ORGANIZATIONS IDENTIFIED AND APPROVED BY THE BOARD OF DIRECTORS. WITH PREFERENCE TO PEOPLE AND ORGANIZATIONS ASSOCIATED WITH EUDORA, KS OR JAMES & EUNICE SMITH – JESCO Inc. 4. DISCUSS APPLYING FOR A FEDERAL EIN NUMBER #: 5. - WE UNANIMOUSLY VOTED TO LOOK INTO GETTING A FEDERAL EIN #. THIS WILL BE TAKEN CARE OF BY SHERRY BROERS. POSSIBLE EMAIL SYSTEM FOR MEMBERS AND ORGANIZATION: 6. - WE DISCUSSED HOW WE CURRENTLY HAVE A FREE WEBSITE AND BY PURCHASING A DOMAIN NAME WE CAN HAVE A WEBSITE THAT ALLOWS US TO LOCK DOWN WITH A USER NAME AND PASSWORD ALONG WITH AN EMAIL SYSTEM BASED OF THE DOMAIN NAME. EXAMPLE: [email protected] 7. WHERE TO OPEN A BANK ACCOUNT FOR JESCO: - MUTUAL BANK IS THE #1 BANK OF CHOICE AS LONG AS THEY ARE FRIENDLY TOWARD NON PROFIT ORGANIZATIONS. THE SECOND CHOICE WOULD BE KAW VALLEY BANK WHICH IS CURRENTLY USED BY ANOTHER NON PROFIT ORGANIZATION IN WHICH DUANE SMITH IS PART OF. WE ALSO DISCUSSED HAVING UP TO 4 PEOPLE ON THE SIGNATURE CARD ALONG WITH THE CHECKS REQUIRING 2 SIGNATURES. 8. SEED MONEY FOR JESCO: 1. DUANE SMITH WILL TRANSFER $500 OVER FROM A PERSONAL SAVINGS ACCOUNT. 2. THERE WILL BE $1000 MOVED OVER FROM A FORMER NURSING HOME STOCK JIM & EUNICE HAD THAT WAS RECENTLY SOLD. JESCO Inc. 9. SOURCES OF FUNDING FOR JESCO: - IMMEDIATE FUNDING: 1. WE WILL WANT TO WORK WITH AND FAMILIARIZE OURSELVES WITH THE ULTIMATE LIFE COMPANY WHICH WILL BE A LARGE PART OF OUR IMMEDIATE FUNDING. THE ULTIMATE LIFE COMPANY IS SET UP AN 8 LVL MATRIX WITH NON PROFIT AT THE TOP. - POSSIBLE FUNDING DOWN THE ROAD 1. DUANE MAY SET UP A LIVING TRUST WITH JESCO BEING THE BENEFICIARY. SHERRY BROERS WILL BE THE ONE IN CHARGE OF THE TRUST. 2. WE WILL ALSO NEED TO COME UP WITH OTHER WAYS OF PROVIDING FUNDING FOR JESCO OVER THE COMING MONTHS AND YEARS. ALL MEMBERS ARE ENCOURAGED TO THINK OF WAYS TO HELP FUND JESCO. 10. DISCUSS IDEAS FOR PROVIDING ASSISTANCE IN ACCORDANCE WITH THE MISSION OF JESCO: - WE DISCUSSED SUPPLYING CLASSROOM AND TEACHERS WITH NEEDED SCHOOL SUPPLIES AS ONE OPTION. - WE DISCUSSED HELPING FAMILY MEMBERS IN NEED. MISC. TOPICS 1. A FACEBOOK PAGE WILL BE CREATED. JIM SMITH WILL COMPLETE THIS. 2. WE ARE CURRENTLY SET UP TO TAKE DONATION THROUGH PAYPAL. JESCO Inc.