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Item 1. Dale Hruby provided an overview of the status of the First Class Club and the proposed capital improvements. Dale reminded all that our agreement with the Cadet Activities Office (CAO) provides that maintenance and upkeep of the facility is the responsibility of the CAO; if the Class is going to spend any additional funds on the Club, it would be for capital improvement and not for maintenance. This has been the class' position from the inception of the project. Capital improvement items that were considered for possible funding were: 1) Improved storage for soft drinks and beer. Currently cases of drinks are being stored in the pool room which necessitated the removal of the full sized pool table and replacing it witha miniature version. 2) Replace the brass rail around the dance floor. 3)Extend the bar to provide more beer taps. 4) We also discussed the future addition of a covered patio suggested by the CAO, but did not come to a definite conclusion either way because of the lack of information on usage factors and the criticality of the project. The EC directed Dale to contact the original architect, Jack Hartley, and to solicit his opinion on these proposed changes. The EC also authorized Dale to commit class funds to pay for a trip to West Point for Hartley. The intent is to avoid the military tendency of sameness and to preserve and enhance the unique appearance and functionality of the FCC, which have combined to make it a highly popular and financially successful operation. Dale will report back before the next EC meeting.
Item 2. Hruby then led a discussion on the question of former classmates who had been found on honor attending class functions. After a thorough discussion, the EC made the unanimous decision to not develop any policy on this issue at this time. The EC is prepared to deal with any question that would arise in the future on a case by case basis.
Item 3. Replacement of EC members. Alan Chase and George Lawton will be leaving as members of the EC. Lawton was tasked to be the head of the nominating committee to fill these vacancies. Chase is also serves as the Class Treasurer, which provides an additional requirement for the selection committee.
Item 4. Lawton discussed tax matters. He began by stating that he had completed a draft tax return and that this year the class owes $119 in federal taxes on the interest and dividends accrued from our investments. The EC approved this expenditure. He then described the advantages of changing the class from an IRS classification of 510c(7), Social and Recreational Club, to a 501c(19), Veteran's Organization, and more specifically a sub classification of that category, War Veterans This shift would result in significant tax savings to the class. (There are two subsets under the (19) classification: present or past members of the Armed Forces of the US, i.e. veterans; and war veterans.) The classification for war veterans is the most advantageous to the class and is the one Lawton will pursue. However, there is a fee charged by the IRS for a status change. The EC authorized Lawton to pursue the change and to spend up to $500 on the IRS fee.
Item 5. McGrew brought the EC up to date on the status of the lost class ring recovery project. The EC wholeheartedly supports this project and will provide funds up to $1,000 to purchase each 1958 class ring that is discovered for sale.
Item 6. McGrew also updated the EC on the Class Ring Memorial Program which covered the status of reclaiming gold from earlier classes' rings to be melted down and added to that of rings in later classes starting with 2002. Ron Turner is the CINC Rings for the class and will monitor both the ring memorial program and the ring buy back program. The EC is researching creative ways to support Tony Ferriauolo at AOG so that he and class representatives from 2002 can travel to participate in the Melting Down Ceremony when the first batch of earlier graduates rings will be turned over to the company who will be making the rings for the Class of 2002.
Item 7. McGrew announced that the EC standing meeting will be moved from the first Monday to the second Monday of even months. The next meeting is scheduled for 10 April.
The EC adjourned at 2200 (10 PM).