Board Meeting: Thursday, June 7, 2007

The Wharton Club of New York
Board Meeting
Thursday, June 7, 2007
Hosted by Skadden, Arps, Slate, Meagher & Flom LLP

Attendees:
Kenneth Beck
Jason Breemen
Diana Davenport
Nigel Edelshain
Ruth Colp-Haber
William Haddad
Regina Jaslow
Kofi Kankam
Allen Levinson
Dana Michael
Tom Oser
Alan Riffkin
Stephanie Shaw
Anna Napolitano

Chairmanís Remarks (Nigel Edelshain)
Motion to Approve Minutes

Motion: Nigel Edelshain
Second: Jason Breeman
Unanimously Accepted

Presidentís Report (Ken Beck)
Kenny noted that the different divisional reports were included in the handout with the exception of the Business Development and Finance reports which will be appended at a later date.

1. Business Development
Business Development is a 3 legged stool (i) Leads (ii) Affinity Groups and (iii) The Capital Clearing House.
Capital Clearance House is targeted to be the most important component of the Alumni Network:

- Wharton Alumni in the same industry exchanging business leads and best practices.
- Bring together Wharton Alumni who need money with Wharton Alumni who have money.
- Incubation - Business Plan Competition (write business plans and help with funding resources)
- Angle Investor Network, Venture Capital, Private Equity, Mezziene Deck Network & Turnaround (These groups will all be part of the Capital Clearing House)

Alan suggested we should charge a nominal fee such as 10% to the clients for the Capital Clearing House but cautioned that we should first run this by a securities lawyer. Bill agreed and offered to look into the matter. Kenny additionally suggested that Jason also follow-up with the Capital Clearing House committee regarding the legality.

Senior Alunmi are interested in these groups so the idea is to bring the groups together on a point system:
- Board Matching Service (assisting Alumni to get on non profit boards).
- Communicating info to younger Alumni (via a reward and point system).
- Having lunch with Senior Alumni (bidding process).

2. President SWAT Team
President SWAT Team Ė seeks volunteers to launch ideas such as the Virtual Career Center. The focus is to help Alums starting with their children from high school through the different stages of their careers i.e. Job Board.

3. Print Newsletter
The newsletter is a very important tool for keeping in touch with the Alumni membership. The newsletter will go out on a regular schedule but is pending sponsorship dollars. The projected date is after Labor Day in time to promote the JWAD. The Newsletter will feature Robert Wolf, Chairman & CEO of UBS Americas who has consented to serve as Dinner Chairman. In addition John Scully who is the only living recipient to have received the Joseph Wharton Awards prior to last year, has agreed to serve on the Executive Committee.

Business Development (Jason Breemen)
Capital Clearing House:
 CCH is a 3 legged stool.
 120 individuals attended the last Hedge Fund event which was a joint event the Chicago Group, thanks to Jewel Huijnen.
 The Wharton Technology Affinity Group is a new group that is organized by Tom Oser and Anna Napolitano will have their first meeting in July.
 The Media and Entertainment Group also had their Kick Off meeting in June. In addition the Leads Council now has 7 leads councils, thanks to Peter Hildick Smith
 The affinity groups are good to get other groups of Alumni involved in areas such as Finance, Planning, Not for Profit.

Programming Division (Regina Jaslow)

- The Programming Division is doing very well and Mary Lundstrom is replaced by Jennifer Gregoriou to run the Speaker Series.
- Kenny noted that people should always be in place to take an available position as part of the structure the Club is trying to set up.
- Social events Committee Ė needs support staff
- Alliances and Partnership Committee is renamed Alliances and Community Service and has two new Co- Chairs whose names will be added to our Org Chart.
- There is no spring event with the school because of their budget.
- University Relations will continue to help with marketing for students in New York.

Human Resources: (Diana Davenport)

Finally figuring out how to reach volunteers:
- Management Planning Meeting to meet with the VPís.
- Volunteers Orientation to recruit new volunteers.
- The Club currently has from 53 -253 volunteers.
- The goal for this year is to define who is an active volunteer.
- Currently working on how to keep, motivate and reward volunteers.
This will be the approach going forward.

Marketing& Communication (Kofi Kankam)
The division goal is data driven.
Membership revenue increased to 77K. The target for next year is 100K.
Different marketing programs to target different groups.
Survey will be implemented to find out alumni interest and what is being offered.
Six things that the Club will offer:
1. Condense membership levels
2. Joint Membership (Capital Clearing House & The Penn Club)
3. Website
4. Club Events
5. Newsletter
6. New Partnerships (sponsorship and discounts)

Sponsorship
Marketing Partnership with Time Inc & Lenovo. Time Inc will sponsor the Newsletter and Levono will donate 4 laptops for the award recipients and the opportunity for attendees to purchase. The laptops are branded as Wharton and are the unlimited edition.

Last year the sponsorship level was capped on the dinner at 25K, but this year it is expanded to 50K and there are different titles for the combined levels.

Pledged Sponsorships range from $135K to $185K as of June 1st and the goal is $250K. The sponsorship package is reduced and there is a need to manage the dynamics of condensing the package.

Website
Robin Colner is appointed to run communication and website. The website is revamped to get better feedback as a way for members to volunteer for different panels and submit qualifications. There needs to be a place on the website for sponsors to make it more appealing.

Other Business
Motion to formally nominate Nigel Edelshain as Chairman

Motion: Kenny Beck
Unanimously Accepted by the Board

Motion to formally nominate Rosemarie Bonelli as Treasurer

Motion: Kenny Beck
Second: Allen Levinson
Unanimously Accepted

Motion to formally nominate William Haddad as Corporate Secretary

Motion: Kenny Beck
Second: Ruth Colp-Haber
Unanimously Accepted

a) Kenny explains that the election of officers is staggered so there is no need to elect the entire board for one year. The following officers were assigned 3 years, 2 years and 1 year term limits.

3 Year Term

Johannes Albeck
Nigel Edelshain
Allen Levinson
Dana Michael

2 Year Term

Roe Bonelli
Regina Jaslow

1 Year Term

Ruth Colp-Haber
William Haddad

b) Kenny presented the following VPís for consideration:

RosemarieBonelli
George Bradt
Jason Breemen
Regina Jaslow
Kofi Kankam
Alan Riffkin

c) A minor adjustment to the bylaws was made i.e. the Chairman, Secretary and Treasurer were appointed to serve for 3 years instead of 4 in accordance with the bylaws.

Kenny asked for a 3 in 1 motion on all the above (a, b, c):

Motion: Kenneth Beck
Second: Allen Levinson
Unanimously Accepted

New Business (Nigel Edelshain)
There being no new business to discuss, the meeting was adjourned at 7:55 PM.

Motion to adjourn: Jason Breemen
Second: Allen Levinson
Unanimously Accepted

Minutes respectfully submitted by Stephanie Shaw