VP and Board Meeting: March 8, 2007

The Wharton Club of New York
VP and Board Meeting
Thursday, March 8, 2007
Hosted by Skadden, Arps, Slate, Meagher & Flom LLP

Attendees:

Johannes Albeck
Kenneth Beck
Jason Breemen
Diana Davenport
Nigel Edelshain
Ruth Colp-Haber
James Hewitt
Kofi Kankam
Karen Levine
Allen Levinson
Dana Michael
Alan Riffkin
Stephanie Shaw
Kent Trabing

Thanks to Clifford Aronson of Skadden for hosting this meeting

1. President’s Remarks (Ken Beck)
Motion to approve minutes:

Motion: Ruth Colp-Haber
Second: Allen Levinson
Unanimously Accepted

2. President’s Report (Ken Beck)
I. Operations
II. Joseph Wharton Dinner
III. Budget and Planning Process
IV. Marketing

I. Operations
Major challenge:
- Internal Communication

Solution:
- Regular meetings.
- Jack our webmaster to set up committees on website
- All management team leaders should have an assistant to fill in during his or her absence.

The leads council has grown into 7 different groups and is doing a great job under the Chairmanship of Peter Hildick-Smith.

Several affinity groups are also moving forward.
Two new positions recently filled are:

(1) Tom Pereira, WG`96 as Affinity Committee Chairperson
(2) Peter Hildick-Smith, WG`81 as AVP, Business Development

II. Joseph Wharton Awards Dinner

Date: September 27, 2007
Event Planning Company: Paint the Town Red – responsible for all the logistics
PR Pro Bono Firm: Omnicom Group Inc
Marketing Company: Tribecca Designs
Steering Committee: (a) Sponsorship (b) Awards

- A print invite will go out this year.
- 2006 DVD is a thank you and first announcement for the next dinner.
- Johannes asked about media coverage and Kenny said the Club will send out a PR release, and that hopefully Omnicom will assist us.
- Alan suggested that one condition is for the award recipients to make themselves available to the public. Kenny agreed making reference to the two surviving award recipients John Skully and James Robinson.
- Dana asked about the location and Kenny informed him that we are considering the Waldorf, the Pierre and the Museum of Natural History. Kenny said we will allow the Honorary Committee to make the decision.
- The Honorary Committee will have 13 -15 people and the Board of Trustees will be unlimited but both must agree to lend their name.

- III. Budget and Planning Process

- We now have a budget! The next step is to implement the process.
- The newsletter has not yet gone out because the Club wants to balance its sponsorship dollars. It was noted that the Newsletter expenses were listed under printing and Johannes suggested that we should look more closely at how we present our budget i.e. it should not reflect a negative as that does not reflect success.
- The budget has seen a downward turn in dues paying membership over the past 3 years primarily due to the difference in the way we define membership and the way we previously tracked. Now every alumnus in the New York Metro area is a member of WCNY by virtue of graduating from Wharton.
- - We have approximately 260K in the bank from the dinner. Going forward we will omit the revenue for the dinner from our financial report in order to see our actual liquidity. The 260K will go into a fund over the next 5 years and the Club will live off the interest. Johannes suggested that we show expenses and revenues for each event separately.
- The Club is in the best financial position it has ever been in years and the trick is to keep it that way.

IV. Marketing

 Kofi is VP of Marketing
 The division is designing a tiered membership program.
Bottom: Free membership by virtue of graduating from Wharton
Middle: $95.00 - Basic Membership
Top: $2500.00 – Senior Membership (includes all levels below in addition to free membership to the Penn Club). The money from the top level will be collected by the Penn Club and they will pay the Wharton Club.
 Welcome Package for new alumni of what we have to offer
 Print Newsletter is awaiting sponsorship dollars and will be going out to the membership.

Alan asked if we are still operating as a 501 C3 organization for tax deduction purposes and Kenny said yes.

Sponsorship (Kofi Kankam)

Kofi reported that the sponsors last year were limited to only sponsoring the dinner. He said the idea this year is to have the dinner as the flagship event and also give sponsors the opportunity to be involved in different things. The sponsorship committee will be:
 Offering a $75,000 level because of the additional platforms.
 Integrating the platforms to show what the club does.
 Building advocacy and sponsorship.
Setting goal of one million dollar 5 years to create an “endowment” for the club.
3. Business Development (Jason Breemen)
 Success stories from the leads group submitted by Francisco Delgado, Jim Northrup, Wyn Lydecker, Angela Hu and Peter Hildick-Smith.

Tom Pereira is currently looking for the right individuals to chair two inactive affinity groups:

 WIRE (Wharton Investment Resource Exchange)
 Wharton Angel Network (WAN)

4. Programming Division (Regina Jaslow)
Alliances and Community Service – will work with other agencies to provide services to other not for profit organizations.
University Relations – started with the admissions office has now evolved into other areas of the school.
Speaker Series – looking for volunteers

5. Other Business
- Alan asked if we currently have a relationship with the New Jersey Chapter, and Kenny said we have reciprocity and that members of the New Jersey Chapter are allowed to attend our events.

- Alan asked if we distribute e-mails between clubs and Kenny said no. Alan suggested that this would be beneficial but Kenny cautioned that this could get very complicated.

- Allen asked if we have considered a unique name for someone who wants to max out on all the offerings i.e. all 5 platforms. Kenny and Kofi said that was something to be considered.

- Kofi said the sponsorship package would go out the following week and Kenny suggested that names should be given to Kofi of suitable companies.

- Allen said it would be an interesting thing to ask members if they would like us to share their e-mails with our sponsors as a mutual benefit to both. Allen added that this must however be an option to our members.

7. New Business (Nigel Edelshain)

There being no new business to discuss, the meeting was adjourned at 7:25 PM.

Motion to adjourn: Johannes Albeck
Second: Kenneth Beck
Unanimously Accepted

Minutes respectfully submitted by Stephanie Shaw