Minutes of Pen’s Opinion, Inc. First Board Meeting
The meeting was called to order at 4:30 pm.
Chairman Jim Kirkland advised the board that to secure an unlimited budget (one exceeding $ 10,000.00 per year) our IRS submission fee is $ 800.00. The board voted unanimously to adopt the $ 800.00 fee to insure operating flexibility.
Chairman Jim Kirkland advised the board that to keep our book keeping accurate and honest, we should acquire the services of a CPA. The matter was discussed and voted upon with a unharmonious vote.
The matter of where to place funds received by Pen’s Opinion, Inc. The matter was discussed and settle on the selection of Farmers and Merchants Bank
The matter of funding from a foundation was discussed. It was unanimously decided that an application to a foundation would be applied for asking for $ 10,000.00.
The meeting was adjourned at 5:30 pm with a closing prayer by Betty Pierce.