MITCNC Board of Directors Meeting July 9,...

MITCNC

MITCNC Board of Directors Meeting July 9, 2012

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MITCNC

MIT Club of Northern California

Agenda

• Dinner 6:00 – 7:00 PM

• Club Operations Select Topics 7:00 – 8:30 PM • Club Overview Elizabeth Ng

• Specific Club Areas Club Officers

• Financial Overview Mike Sarfatti

• Migration to Imodules Ed Tau

• Membership Anne Westbrook

• Spotlight Review Elizabeth Ng

• Board Business 8:30 – 8:45 PM • Approve Minutes Gavin McCraley

• Finance/Audit Committee Bill Murray

• Sponsorship Committee Ron Koo

• Nominating Committee Howie Rosen

• Other Business

• Closed Executive Session 8:45 – 9:00 PM

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MIT Club Web Infrastructure

Club Overview

Elizabeth Ng

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Key Strategic Themes for the next two years

2011 2012 2013 Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

Recruit We have had several vacancies because of relocations, time constraints due to work, and burnout

Revitalize

Retain

What needs to be done to expand volunteer base, events, and membership

Strategies to maintain that revitalized momentum: • Officer retention (expanded administrative support, leadership training, etc.) • Succession planning • Member engagement

Focus of my pre-term

efforts have been here

Board support and engagement are critical for success in

implementing these themes

Effects/efforts will continue after my term


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MITCNC 2012-2013 Officers

VP IT

Javed Samuel

VP Communications

Monika Gorkani

President Elizabeth Ng

VP (Acting) Entrepreneurship

Michael Cann

EVP East Bay Events

Director Faculty Events

Bill Reenstra

Director Volunteer Coordination Roshni Cooper

Club Counsel Gavin McCraley

Secretary Gavin McCraley

VP Membership & Volunteer

Integration Anne Westbrook

Director Science & Technology Ivy Montgomery

Director Life Sciences Forum Michael Motion Amar Kendale

VP Energy & Clean Tech Doug Spreng

Director Sports & Rec

John Keen

Co -VPs Social Communities

Nayana Ghantiwala Ilyssa Lu

Director MIT10 TBD

Director Spotlight TBD

Konstantin Rosanov

Director (Acting) K-12 Education/

Outreach Bryan Shieh

Educational

Social

Special Programs VP

Career Development Mike Bowles

Events Operations

Director IT

TBD Director Entrepreneurship Alson Kemp

Treasurer Judith Selvidge Michael Sarfatti

VP Marketing/

Development Jeff Rosen

Bookeeper xx

Admin support Jamie Tran (General) Megan Franks (Newsletter)

Admin support Josiah Hadley

Chris Lin Dhruv Mehrotra

Kim Rowan

Sloan

Anh Thu Vo Amita

Director 3C Entrepreneurship

Vandana Upadhyay

Director Venture Mentoring

Rolf Brauchler

Director Angel Investing Shuja Keen

VP /Director InterClub TBD

New

Rob Butler MIT AA

Ron Chavez Hiroshi Wald

VLAB

Walter Price

EC

Officers

Professional

Director (Acting) New Ventures

Gaurav Tewari

Change since last BOD

Director Newsletter/?archives

TBD

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Summary for 2012

We have had about 70 events with over 4000 attendees • Professional Tracks are doing well

– Energy and Clean Tech is most established continues to be strong – Life Sciences Form is gaining steam – Information Technology/Information Society is just been launched – Entrepreneurship Track has new leaders

• Social Events have been more diverse and numerous – Outdoor activities include traditional Hikes/Bikes events but we also had Sailing events

as well as a Polo event – Informal mixers and dinearounds – Theatre events such as “Carmen for Families” and Cirque Soleil – Lunar New Year Dinner

• MITCNC / MIT related events – Annual Meeting at Tech Museum

• > 250 registrants • 35 MITCNC Memberships

– East Bay Welcome – Toast to IAP – Spotlight

Membership is around xxx; which is xxxx % compared to last year

Imodules was launched in April

Spotlight was phenomenal success

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Progress and Challenges Year of solid achievements

Themes Goals Progress Challenges

Recruit

• Full complement of officers

• Recruited 13 new officers – filled most critical positions

− Membership − LSF (2) − IT/IS − Entrepreneurship (3) − Marketing − Social (2) − K/12 − Treasurer

• Some officer roles still vacant − Spotlight Director − Interclub/Outreach

• Volunteer base • Enlarge volunteer pool

Revitalize

(reorganize)

• Quantity, quality and variety of events

• 70 Events – about 35% increase over prior year

• Strong growing event tracks

• Understand what alums want • Create more events that engage

alums and volunteers • Membership • Xxx members – about xx% increase

over prior year • Increase geographic outreach • How to Identify and reach

underserved segments • Financial

Structure • $200 in revenues – about 170%

increase with $40K surplus • Increased Scholarship contribution

to $25K for 2011/2012 and likely to increase contribution for 2012/2013

• Infrastructure • Improved infrastructure/ processes

Retain

• Officers • Minimal officer turnover this year (4) • Officer turn-over occurs; how to minimize, identify, transition

• Volunteers • Keep volunteers engaged • Current and

future members • Developing survey to understand

what members value • How to maintain members from

year to year

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Specific Club Areas

Officers

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Specific Club Areas

Track/ Area Officer Energy and Clean Tech (ECT) Doug Spreng Life Sciences Forum (LSF) Michael Motion Information Technology/Information Society (IT/IS)

Ivy Cheung Montgomery

Entrepreneurship Michael Cann Venture Mentoring Service (VMS) Rolf Brauchler (not present) Career Development Mike Bowles K-12 Bill Reenstra Social Communities Nayana Ghantiwala Outdoor Activities/ Sports & Rec John Keen (not present)

Officers can do a quick presentation and answer questions for their areas

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Energy & Clean Tech (ECT) 2011/12 season another banner year

8 events (up from 6 in 2010/11)

3 Panel Discussions 3 MITEI on the Road Presentations

2 CEO Guest Speakers

Expanded the number of subjects being addressed & broadened the audience base

~ 800 attendees 143 MITCNC memberships

$37K+ gross revenue $22K+ in surpluses (all events earned a surplus)

New Corporate Sponsor – Morrison & Foerster LLP 1st ECT event in San Francisco

26 active ECT members

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Energy & Clean Tech (ECT) Summary of Events during 2011/2012

Event Date MITEI On the Road: Nanotechnologies for an Energy Efficient Future MIT Professor Vladimir Bulovic

9/27/2011

MITEI On the Road: Does Nuclear Energy Have a Future? MIT Dept. Head Dr. Richard Lester

11/3/2011

Clean Tech Investing in 2012 What’s Hot and What’s Not? 12/7/2011 Kevin Surace - CEO, Serious Energy First ever CEO-level presentation

1/11/2012 Events since last BOD meeting

Distributed Energy Generation Facilitated a panel discussion at Silicon Valley Bank, with over with well over 100 in attendance, many of whom were new attendees to the Series.

2/9/2012

MITEI on the Road: The Future of the Electric Grid MIT Professors Kassakian and Schmalensee Blockbuster event at PARC. Total registrations were 170, including for the first time a special invitation to the IEEE, who registered over 20 attendees, making this our second largest event ever.

3/22/2012

Tony Earley – CEO, PG&E First-ever ECT event in San Francisco at the law offices of Morrison & Foerster, featuring Tony Earley who gave his perspectives on electricity generation, transmission and distribution in the 21st century.

4/25/2012

Biofuels Our first-ever Biofuels event, a panel discussion featuring top executives from leading Bay Area companies such as Amyris, Solazyme and LS9 at the law offices of Orrick, Herrington & Sutcliffe.

5/8/2012

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Energy & Clean Tech (ECT) Plans for 2012/2013 season

8 – 10 events (> 2 in San Francisco)

5 Panel Discussions Topics: Natural Gas, Smart Grid, Water/Energy Nexus, Rooftop Solar, Biofuels II

3 MITEI on the Road Presentations Ananda Chandrakasan, Tonio Buonassisi, Angela Belcher and/or Climate Science?

1 or 2 CEO Guest Speakers John Watson, Chevron, Elon Musk, Tesla

1 or 2 Company Tours Tesla, Bridgelux, CA-ISO, EnerNOC, et al.

All proposed events have Event Managers assigned

We are up on iModules

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Life Sciences Forum

Event Date

Optogenetics: Controlling the Brain with Light 8/24/2011

Regenerative Medicine Against Aging 10/20/2011

Evolution of the human rain forest: We are what eats us 1/11/2012 Dinner Reception with MIT Prof. Seung: How the Brain’s Wiring Makes Us Who We Are 2/12/2012

Events since last BOD meeting

Can Financial Engineering Cure Cancer? Professor Lo: A New Approach to Funding Large-Scale Biomedical Innovation

3/13/2012

The Life Sciences Forum has been reinvigorated with five interesting events which resulted in:

• >190 attendees • 43 new CNC memberships • About $5.5K income

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Life Sciences Forum: New series

With/in/sight West Event Series • Co-sponsored by the MIT Koch Institute for Integrative Cancer Research

• Program summary: – With/in/sight is a quarterly public lecture series sponsored by MIT’s Koch Institute of Integrative Cancer

Studies. It features two tracks: a “Science” track that has a technical emphasis, and a “Solutions” track that deals with the intersection of science, engineering, and business.

– The Koch Institute is interested in working with the MITCNC to host a series of events on the West Coast, at a similar quarterly cadence, with the intent of attracting sponsorship for the Institute. In return, the club and community benefit from access to the leading thinkers and doers in cancer research, development, and commerce.

• Key people: – Robert Urban, head of the Koch Institute

– Howie Rosen, MIT CNC board member

• Program description: – The MIT Club will coordinate all logistics for the West Coast events. The Koch Institute will provide the

event moderator (Robert Urban) and the MIT-affiliated featured speaker, around whom the event will be built. For example, the first event will feature MIT professor Michael Cima.

– The MIT Club will also be working with Robert Urban to identify and recruit Bay Area-based “flanking panelists,” representing either complementary clinical perspectives, complementary or competitive technical perspectives, or complementary business perspectives. As an example, the Michael Cima “Solutions” event held at MIT in November included Ed Kania (Flagship Ventures), and Barbara Smith (MGH).

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Information Technology/Information Society Launched January 2012

It starts with the chips

Which enable the devices and networks

Which host the applications and software

Which impact our society in many ways

Provide Educational Content and Network Opportunities via a common interest in Information Technology

Feature an ongoing series of presentations and discussions to examine the latest developments in Information Technology and how that technology is impacting and creating an Information Society.

VISION

MISSION

2012 GOALS

Build track awareness Recruit volunteers / event managers Produce a few events

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Event Date # of Attendance Surplus

“Total Recall” Advanced memory technology Panel Feb 1st, 140 (MIT) / 250 (total) free Events since last BOD meeting

Crowd-sourcing Panel – redefining the employment model Apr. 17th 40 $1,132 “Race against the Machine” – MIT Profs. Erik Brynjolfsson and Andrew MacAfee May 30th 36 $99

Unlock Your Social Media Potential July 10th ~70 TBD

Information Technology/Information Society Updates

Repeat participants in the last few events

Cross promotion with VLAB and Startup Digest.

Track partner: John Mikulsky 8 -10 event managers 2 day-off volunteers

Upcoming:

Targeting 2 more events in fall: Server Room and Display Devices

Build IT/IS web marketing page on new iModules

2012-13 Planning session

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MIT Global Entrepreneurship Network

Then Now End of Year

0 >200 1,000

Joe Chen G ’95 Co-founder, CEO

of Renren (NYSE: RENN)

• 110+ attendees (with Harvard)

Accelerators

• Alternate between SF & South Bay

• 200+ attendees, 4 events

• Wide range of ages

The Future of Social Networking

Monthly Networking Brunches

Upcoming Events

The Stickiness Factor

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Venture Mentoring Service (VMS) /Bay Area: 2012 Update

• Accomplishments – In first 3 1/2 years of operation, have served 75 ventures; all are led

by MIT-affiliated entrepreneurs (basic requirement)

– Currently have about 60 active mentors; 90% are MIT alums

– Primary value delivered: positioning ventures for funding and gaining marketplace traction; also have enabled several would-be entrepreneurs to realize the start-up path was not for them (“fail early”/ avoid wasting time)

– First notable liquidity event for a mentee: AppJet acquired by Google in Dec., 2009. Two others now evaluating term sheets to be acquired; numerous other ventures self-sustaining.

– In 2011-12, have focused on building broader ecosystem: working with Plug and Play Tech Center to provide space/services/networking for mentees; Band of Angels for funding.

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Venture Mentoring Service (VMS) /Bay Area: 2012 Update

• Challenges – Achieving balance in number of new mentees vs. available mentors:

more new mentors volunteered in past year than required for new mentees.

– Attracting mentees in under-represented business areas, most notably energy/clean tech

• Next Steps – Hold Mentors’ Roundtable Meeting in Fall to share experiences in

working with mentees and discuss “what’s working, what’s not”

– Hold next Matching Session in October

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VMS Mentees: Notable Achievements – Q2/2012 Update

Company

Business/Product Description

Milestones/ Achievements AppJet, Inc. Product, EtherPad, is a Web-based word processor

that lets people collaborate in real time. Acquired by Google in December, 2009 (14 months after we began mentoring).

Sifteo

Product is a system combining games and learning. Each Sifteo cube contains a clickable, full color LCD display, multiple motion sensors and rechargeable battery in a 1.5 inch block, with wireless connection to a nearby computer via USB radio link. See game examples at: https://www.sifteo.com/games Founders are Media Lab alums.

• Awards & honors from Popular Science, Fast Company, Scientific American, NBC’s Today Show, many others.

• Now selling through Amazon, “Marbles the Brain Store” outlets (18 in Midwest), museum stores.

6dot Innovations

The 6dot labeler embosses Braille into adhesive labeling tape using a built-in Braille keyboard (for any language). USB port connection to a QWERTY keyboard enables an alternative typing method.

• Finalist in Silicon Valley/ San Jose Business Journal’s Idea & Innovation Awards for 2012 (began with VMS in Nov., 2010)

• Selling product in U.S.; featured in Fast Company, Venture Beat, engadget

Kiverdi

The Carbon Engineering ™ platform enables the conversion of waste carbon into a range of oil-based specialty chemicals and fuels.

• Secured Series A funding from Primera Capital in Jan., 2011, 8 months after mentoring began.

• Recently signed MOU with a global equipment manufacturing and engineering firm

• 2012 Edison Awards finalist • Introduced to Band of Angels; in due diligence.

RefleXion Medical

Developing the first biologically-guided radiation therapy system for treating solid tumors throughout the body. By uniquely leveraging Positron Emission Tomography (PET), RefleXion's patented technology uses signals that are continuously emitted from the tumor itself to guide the treatment beam.

• Raised seed round in Q1/2011 from industry luminaries and clinicians (3 months after mentoring began)

• Phase-I SBIR grant awarded in Q3-2011 by the National Cancer Institute.

• Proof-of-principle completed via experiments and software simulations in partnership with the Stanford Cancer Center

• Core technology patent issued in Q3-2011 and combined with an exclusive license on blocking IP from U. of Chicago

LunchBots

Attractive stainless steel food containers for kids’ school lunches and other food-to-go situations; provides parents a safe, eco-friendly alternative to plastics and other materials.

• Product line expanded from original two to 20+ • Products sold through Amazon, Whole Foods, other specialty

markets and retailers • International distributors in Canada, Australia, and Europe • Cash-flow positive since late 2009, one year after mentoring

began; $1 MM+ sales in 2011.

https://www.sifteo.com/games�

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Career Dev - MIT Startup Connector

• 25 Companies

• 150 Seekers

• High excitement level

• 40 Companies (+ waitlist)

• 200 + Individuals

• Requests from other Ivy+ clubs to participate

Goals Achieved

Very successful event which netted roughly $10k • Biggest Career Dev Event this year • Stemmed from Elizabeth's idea for "job fair" • Job fair sans dehumanizing dreariness • Match Startup and MIT Alums

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Career Dev - What's Next?

• Extend Brand

– Another Event in April 2013 (every 6 month cycle?)

– Other formats under "Startup Connector"

• "So you want to join a startup"

– Include other clubs to increase participation (companies and individuals)

• Put together networking and smaller topical events

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K-12 Summary of Events during 2011/2012

Event Date Attendees New Memberships

Events since last BOD meeting MITCNC K12 STEM PROGRAM Presentation by 5 South Bay volunteer organizations that provide K12 STEM education to local schools

3/15/2012 46 11

MIT INVENTEAM PRESENTATION AT HARKER SCHOOL Student presentation of team progress. MITCNC networking to generate interest in mentoring future InvenTeams in the Bay Area.

3/22/2012 5

TOUR OF SILICON VALLEY REGIONAL FIRST FRC COMPETITION Tour and interaction with local teams plus viewing of the competition.

3/31/2012 108 5

LAWRENCE HALL OF SCIENCE ROBOTICS COMPETITION Family event with the hope that parents and children of alums will become interested in robotics competitions

4/14/2012 40 2

INSPIRATIONAL TEACHER AWARD PRESENTATION AND OPEN COURSEWARE TALK Presentation of MIT Inspirational Teacher Award to Mr. William Dunbar of Gunn High School in Palo Alto. Discussion of MIT OCW by Cecilia d’Oliveira '77 and Prof Dick Yue ’74

6/21/2012 80 11

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Social – Past Events

• 1/05/2012 MIT Alumni Mixer with Sloan @ Bowlmor - Cupertino • 1/18/2012 MITCNC Toast to IAP 2012 @ Press Club – San Francisco • 2/04/2012 MITCNC Presents: Dragon Roar - Lunar New Year 2012 – South SF • 3/01/2012 Harvard /MIT Happy Hour @ Wish – San Francisco • 3/04/2012 Cirque de Soleil Totem - San Jose , pre-show brunch @ IHOP (80 people -show ; 12 people -

brunch) • 3/04/2012 MITCNC Chocolate Tasting Event – San Francisco • 3/22/2012 MITCNC Exclusive: SHARKS vs. BOSTON BRUINS – San Jose (40 people) • 3/23/2012 CleanTech Launch Party @ NASA Ames – Mountain View (5 people) • 3/29/2012 MITCNC Dine-Around at Limon – San Francisco (15 people) • 4/15/2012 Okeanos theater show – Julia, MIT’96 – San Francisco (12 people) • 4/20/2012 MITCNC Dine-Around at Cascal Mt. View (12 people) • 4/27/2012 MITCNC Happy Hour @ deYoung Museum – San Francisco (125 RSVP) • 4/28/2012 PIXAR Animation’s Sr. Computer Scientist – Los Altos (12 people) • 5/16/2012 MITCNC Happy Hour at Barrelhouse Bar – Burlingame (15 people) • 5/18/2012 MITCNC Wine Tasting at Venetian Room, Fairmont Hotel – San Francisco (12 RSVP) • 6/05/2012 Viewing of the Transit of Venus – Lick, Foothill, Chabot, LHS, MIRA, NASA (35 RSVP) • 6/08/2012 Stand-up Comedy Show – Dr. Pete Ludovice, MIT’89 – San Francisco • 6/16/2012 MITCNC Community Volunteer Day – There With Care – Menlo Park (11 RSVP • 6/16/2012 MITCNC Mini-Museum Tour of PEZ Memorabilia & Banned Toys – Burlingame (9 people) • 6/17/2012 Dine-Around at Seoul Gomtang – Oakland (15 people) • 6/17/2012 All IVY +MIT Sailing Day at OCSC – Berkeley (9 people this year; 22 people last year)

NON-FOOD & NON-DRINK EVENTS HIGHLIGHTED IN BLUE (EXCEPTIONS IN ORANGE)

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Social – Future Events – Family Friendly

• 7/14/2012 Summer Movie Saturday: Ice Age 4 –Santa Clara • 7/21/2012 Summer Movie Saturday: Dark Knight Rises – IMAX @ Tech Museum • 7/27/2012 Dine-Around Dinner at IL Fornaio – Palo Alto • 7/28/2012 Summer Movie Saturday: Ruby Sparks – Palo Alto • 8/04/2012 Summer Movie Saturday: Diary of Wimpy Kid – Santa Clara • 8/11/2012 Summer Movie Saturday: Bourne Legacy – San Francisco • 8/18/2012 Summer Movie Saturday: Odd Life of Timothy Green – Redwood City • 8/25/2012 Dine-Around Brunch at Delancy Street Restaurant – San Francisco • 8/25/2012 Les Miserables 25th Anniversary – San Francisco (40 people – SOLD OUT) • 8/25/2012 Les Mis Post-show Reception @ Bossa Nova – San Francisco • 9/15/2012 Private Tour of TCHO Chocolate Factory – San Francisco (29 people – SOLD OUT) • 9/22/2012 Dine-Around Brunch at Madera (Rosewood Hotel) – Menlo Park • 9/23/2012 Batman Pre-Show Dinner @ Amici’s Pizzeria – San Jose • 9/23/2012 Batman Live Show – World Arena Tour – HP Pavilion – San Jose (24 people – SOLD

OUT) • Sunday TBD (Groupon expires Sept 30, 2012) – Hiller Aviation with Flight Simulator (24 people,

$5pp) • Sunday TBD (requesting April 7, 2013) Blue Man Group – Broadway San Jose (40 people) • Sunday TBD (Jan/Feb 2013) Wicked - SHN Broadway San Francisco (40 people)

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Social

PEZ Tour - Burlingame

LHS - Berkeley Sloan Mixer – Cupertino

Toast to IAP 2012 - SF

Cirque du Soleil - San Jose Happy Hour -

Burlingame

Pho

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Nay

ana

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Social

La Mar - SF Dine About Town

MIT/Harvard SF Dine Around @ Cascal Mt. View

All Ivy +MIT Sailing - Berkeley

Transit of Venus @ Foothill, Los Altos

Wine Tasting @ Venetian Room SF Fairmont

Pho

to b

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ayan

a

Pho

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ayan

a

Pho

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a

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Outdoors/ Sports and Rec

Past Events

• 11/12/11 Hike: El Corte de Madera Creek Open Space Preserve

• 12/10/11 Hike: Monte Bello Open Space Preserve (mid-peninsula)

• 1/21/12 Hike: Sunol Regional Wilderness (East Bay)

• 2/11/12 Hike: Sunol

• 3/4/12 Family Event: Build Your Own Birdhouse

• 4/21/12 Hike: Windy Hill Open Space Preserve (mid-peninsula)

• 5/12/12 Hike: Wunderlich County Park (Peninsula)

• 5/19/12 Strawberry Picking for Families

• 6/2/12 Trailbuilding on Montara Mountain Trail

• 6/16/12 Hike: Berry Creek Falls

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Financial Summary

Mike Sarfatti

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MITCNC Summary -- FY 2011/12 -- Draft - July 2012Fiscal year end: July 31Account Balances Jun 30, 2012 Jul 31, 2011 Jul 31, 2010 Jul 31, 2009 Jul 31, 2008Total Bank Balances 133,690$ 113,778$ 18% 102,905$ 96,315$ 86,736$

Income Jun 30, 2012 FY2010/11 FY2009/10 FY2008/09 FY2007/08

Events 89,667$ 44,597$ 101% 33,151$ 51,476$ 52,418$ Spotlight 19,460$ Clean Tech 37,591$ Other 32,616$ Event Sponsorship 84,000$ NA 2,500$ 17,000$ 15,800$ Spotlight 80,000$ Energy and Clean Tech -MoFo 2,000$ Prof. Lo Event -MIT 1,250$ Annual Meeting -Venuetastic 750$ Membership Dues 26,090$ 28,225$ -8% 25,980$ 30,930$ 25,965$ Bank Interest -$ -$ 2,008$ Donations 450$ 1,685$ NA 2,452$ 2,850$ 3,161$

Total Income 200,207$ 74,507$ 169% 64,083$ 102,256$ 99,352$

Expenses Jun 30, 2012 FY2010/11 FY2009/10 FY2008/09 FY2007/08

Club and Event Administration 19,018$ 11,588$ 64% 7,636$ 16,555$ 17,218$ Adminstrative Assistants 5,534$ ALC 1,563$ Equipment 1,757$ Volunteer Recruiting & Appreciation 500$ Other 9,664$ Internet 4,852$ 5,603$ -13% 7,333$ 15,174$ 11,063$ Blackbaud - Kintera Quarterly Charges 4,202$ Other 650$ Processing/Banking Fees (Blackbaud) 6,551$ 1,991$ 229% 2,084$ 2,466$ 1,721$ Events 128,060$ 23,616$ 271% 21,946$ 43,201$ 24,842$ Spotlight -Westin 64,114$ Spotlight -Union Sq Park ing 1,486$ Energy and Clean Tech 16,315$ Annual Meeting 5,320$ Sendoff 1,085$ Welcome Event (East Bay) 650$ Officer/BOD Holiday Event 1,673$ Other 37,417$ Printing 265$ 2,206$ 3,817$ 5,268$ 12,122$ Postage and Mailing Services (incl) 494$ 817$ 3,446$ 13,504$ Professional Services (Tax Prep) 1,060$ 1,040$ 1,010$ 926$ 1,060$ Programs -$ 876$ -100% -$ 2,500$ -$ Total Expenses 159,806$ 47,414$ 237% 44,643$ 89,536$ 81,530$

Contributions FY2011/12 FY2010/11 FY2009/10 FY2008/09 FY2007/08

Scholarship Contributions 25,000$ 21,000$ 12,850$ 3,141$ 25,000$

Draft Income Statement Annual Income Statement

Compared to Non Spotlight Event Expenses

Compared to last year

Financial Overview – Income

Endowment Contribution proposed for 2012/2013 is $50K

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$0

$20,000

$40,000

$60,000

$80,000

$100,000

$120,000

$140,000

$160,000

$180,000

$200,000

FY2005/06 FY2006/07 FY2007/08 FY2008/09 FY2009/10 FY2010/2011 FY2011/2012 FY2012/2013

IncomeExpensesCash in BankScholarship Endowment

Multiyear view shows an increase in all financial measures

BOD Meeting, July xx, 2012

Proposed

FY11/12 vs. FY10/11: • Income rose by 169% • Expenses increased by 237% • Cash Reserves increased by 18%

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Migration to iModules

Edward Tau

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We are live on iModules!

• The MIT Club of Northern California website at http://www.mitcnc.org was “flipped over” to iModules – Switch was made on April 20, 2012 (2+ months ago)

– Second attempt (first attempt was back in January 2012)

– Transition has been smooth so far

• Previous Kintera-based website still available (http://blackbaud.mitcnc.org) but will be turned off on July 14 – Event attendee history has been downloaded

• All upcoming events have been completed migrated over to iModules – Weekly email newsletter from Monika is now using iModules events

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Training and tools are available

• Training material developed – Video tutorials:

http://northerncalifornia.alumclub.mit.edu/s/1314/clubs-classes-interior.aspx?sid=1314&gid=25&pgid=8442

– Event creation workflow instructions: http://northerncalifornia.alumclub.mit.edu/s/1314/clubs-classes-interior.aspx?sid=1314&gid=25&pgid=8748

• Other collaboration tools – Google Apps (collaborative spreadsheets, documents) [retail value is

$240/user/year]

– Application to Google for “Non-Profit” status has been approved

– Granted free access for all Club officers

http://northerncalifornia.alumclub.mit.edu/s/1314/clubs-classes-interior.aspx?sid=1314&gid=25&pgid=8442�




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Thoughts and Feedback

• Clean user interface and presentation that are consistent with MIT across multiple affinity groups and regional clubs

• Officers and volunteers have distributed access to modify website content

• Free to MIT Club·

• Event creation workflow too difficult (should not require training)

• Volunteers cannot grant admin privilege (each request has to go through Cambridge)

• Changes to existing “template” extremely difficult to make happen

Pluses Minuses

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Outstanding Issues (non-critical)

• Tracked by Asana: https://app.asana.com/0/367935431521/367935431521·

• Can't upload multiple photos at once (makes photo upload very burdensome)

• Has 5MB limit for TOTAL photo uploads • Cannot modify footer on template • Default event RSVP notification to primary/second contacts · • Default event RSVP notification to NOT email event creator · • Register for an event when not logged in gets sent to home page • Enable "Custom URL" (pretty URL) for the "Events Calendar" page · • Display Range should automatically default to the day after of the event · • Color code events in "Event calendar" (e.g.

http://siliconvikings.com/events/month/) · • Need a way to provide link that goes straight to registration for an event

(Kintera had this) • Set event "Display Range" end date to be one day after event date • Enable refund on credit card payments

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Next Steps

• Send marketing email campaign during new membership year·

• Develop more comfort and proficiency amongst officers for iModules·

• Promote content contributions – “Alumni in the News”

– Officers

– Photo from events

• Recruit additional volunteers as iModules leads

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Membership Update

Membership

Anne Westbrook ‘79

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Placeholder

• Anne has been travelling with no access to internet

• We will send out slides on Monday afternoon

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Spotlight Review

Elizabeth Ng

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Spotlight 2012 was an incredible success – Thank you All for your part in making it so!

• Enhanced reach and reputation

– 370 Attendees • 28 young alums, 32 new

memberships

– Positive feedback from regular registrants, Sponsors and MIT

MIT Club of Northern California Spotlight 2012 February 21, 2012 Westin St. Francis San Francisco, CA

“Congratulations on a great evening! It was an outstanding event and I was very proud of our club and our club leadership.” John W. Jarve

"Great speaker, good venue, good food, good fellowship.“ Survey Respondent

Financially positive • $99K Revenues

• $80K in Sponsorships • $19K from Registrations

• $31K Surplus generated

MIT Club of Northern California Spotlight 2012 February 21, 2012 Westin St. Francis San Francisco, CA

John S. Reed ’61, SM ‘65 Chairman MIT Corporation Retired Chairman/CEO of Citigroup Former Chairman NYSE

WWW.MITCNC.ORG

“Suitable event for new Chairman’s first event“ MIT

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Spotlight Steering Committee/Board members stepped up to provide leadership and help drive success New Spotlight Director (Konstantin Rosanov) was in place when planning started but had to step

down

• The original intent was for new Spotlight Director to learn by watching prior President/leadership organize a Spotlight but there was no Spotlight in 2011

• Spotlight Director was inexperienced and was traveling when Spotlight planning first started, therefore President and EVP selected the venue and negotiated the contract

• Subsequently Spotlight Director stepped down because of job transfer to London

Spotlight Steering Committee (SSC) was formed to help raise funds, strategize and plan the event (Ronald Koo G’91 (Chair), Catherine Calarco ’06, Nelson Lin G’91, Elizabeth Ng ’78, Jeff Rosen ’98, Edward F. Tau ’95)

• Proved very useful

• Directors identified sponsors and contacts, provided historical perspectives and addressed strategic decisions

• Elizabeth, President, handled most of the operational aspects, and on the advice of the SSC engaged an Event Coordinator

• Jeff, VP Development/Marketing, dealt with Sponsors and helped with promotions

• John Chisholm and Harbo Jensen played critical roles in identifying, obtaining and interfacing with Sponsors. They reached out to over 100 people; yield was about 15%

Ideally we would have a Spotlight Director and SSC for next Spotlight

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Sponsorship was a record high totaling $80K cash plus about $4K In-kind donations – due to Director contact and support

Corporate Sponsor Level Amount Contact

Wells Fargo Platinum $20,000 John Chisholm

Vernon & Mary Lee Altman Gold $10,000 John Chisholm

NYSE Gold $10,000 Harbo Jensen

Hummer Winblad Gold $10,000 Mark Gorenberg

Menlo Ventures Silver $5,000 John Chisholm

John Chisholm Silver $5,000 John Chisholm

Barracuda Networks Silver NA Elizabeth Ng

Booz Allen Hamilton Silver $5,000 Elizabeth Ng

TOTAL $65,000

Patron Sponsor Amount Contact

Barry Newman $1,000 John Chisholm

Damion Wicker $1,000 John Chisholm

Anonymous $1,000 Ed Tau

Elizabeth Seifel $1,000 John Chisholm

Harbo Jensen $1,000 Harbo Jensen

Howie Rosen $1,000 John Chisholm

Jerry Applestein $1,000 John Chisholm

Jim Rutt $1,000 John Chisholm

Ron Koo $1,000 Ron Koo

Shan Sinha $1,000 John Chisholm

Charlene Kabcenell $1,000 John Chisholm

Charles Zhou $1,000 Nelson Lin

Joanne Spetz $1,000 John Chisholm

Walter Price $1,000 Ron Koo

Evan Matteo $1,000 Ron Koo

TOTAL $15,000

In-Kind Sponsor

Product Value Contact

Ridge Winery

48 bottles Estate Chardonnay

48 bottles Estate Cabernet

1 Special for John

$3,500 Elizabeth Ng

Two Degrees 350 food bars $750 John Chisholm

TOTAL $4,250

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MITCNC


Attendance of 370 topped recent previous Spotlight events and brought in over $19K of registration revenue

Category Number Notes

Regular Registrants 248

$18,060 $ 1,230 $ 170 $19,460

Kintera Imodules Walkins

VIP Attendees 91

Speaker 2 Corporate Sponsors 56 If all Corporate Sponsors filled their tables, we would

have had 80 attendees in this category – Young Alums Young Alums 10 NYSE asked us to offer their table free to Young Alums

Patron Sponsors 20 If all Patron Sponsors attended, we would have had 30 attendees in this category

In-Kind Sponsors 3

Non Revenue 31

Speaker 2

Officers 19

Volunteers 9

MIT Media 2 They did not register

Other 1 Frank Lieu (class ’47) – we gave his daughter a free registration so that she could drive Frank

TOTAL 370

Attendance Breakdown

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0

50

100

150

200

250

5-Dec 12-Dec 19-Dec 26-Dec 2-Jan 9-Jan 16-Jan 23-Jan 30-Jan 6-Feb 13-Feb 20-Feb

Registrations over Time

ENg email12/24

ENg email1/23

BOD 2/6

ENg emailpast attendees

2/7

ENg email2/10

MG email2/9

MG email2/14

Problem withlistserve

1/30

Imodules- 16 registrantsfrom 1/4 to 2/17

I Moduleslaunched 1/9;

taken downimmediiately

MIT AAMailed Postcards

2/1

Regular Registrations followed the pattern of last minute registration seen in prior events but we ended up with 248 registrants

• Several Issues impacted earlier registration − Imodules was switched on and then off in early

January causing confusion about registration −Lack of Email promotion in early January may

have impacted earlier registrations −Listserv problem prevented any emails the first

week of February and impacted promotion • Majority of the people registered in the last 3 weeks

−64% within the last 3 weeks −56% within the last two weeks −34% within the last week

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There was high MITCNC member attendance among the 248 Regular Registrants which included some diversity

• 76% were registered as MITCNC members

• 34 new memberships – Is this comparable to

previous Spotlights or other events?

• 20 Young Alums registered

– Does not include the 10 who were given seats at NYSE table

• 8 from other Ivy Alumni Clubs

– We opened up the event the last few weeks. Do we want to open sooner?

• 6 parents (8 if you count Westbrooks)

– How do we encourage more parents at MITCNC events?

Total Registrations 248

MITCNC Members Reg

153 - 62% Membership + MITCNC Members

Reg 29 - 12%

Membership +Young Alum Reg

3- 1%

Young Alum Reg 20 - 8%

Parents 6 -2%

Ivy Club 8-3%

All Others 29 -12%

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Quality and Expenses were higher than previous Spotlights

Source Amount Notes Westin St Francis $64,114.26

Dinner $37,859.48

Food $34,670.88 Includes rebate of $3,531.10 negotiated after the event

Drinks $2,700.35 Includes rebate of $1,667.86 negotiated after the event

Linens $488.25

General Reception $14,095.86

Food $8,769.51

Drinks $4,783.85

Labor/Bartenders $542.50

VIP Reception $5,128.54

Food $2,481.94

Drinks $2,293.97

Labor /Bartenders $352.63

Audio Visual $7,030.38 Includes negotiated discount of $1250 Union Square Validated Parking $1,485.50

Printed Materials $730.21 Programs $192.95

Nametags & Signage $537.26 Other

Donation to Harvest Holy Ground (in lieu of payment to Event Coordinator) $600.00 $1,770.00

Admin Cost (Jamie Tran, Megan Franks) $600.00 Kintera Transaction Fees (estimate) $540.00 Imodules Transaction Fees (estimate) 30.00

TOTAL $68,099.97

Expense Detail

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$ -

$10.00

$20.00

$30.00

$40.00

$50.00

$60.00

$70.00

$1.5

Validated Parking

$3.7

AV - Added 2 Screens

$0.6

VIP Reception - Champagne

$2.2

Gen. Reception -

Added Cheese & appetizers

$4.1

Gen. Reception - Hosted Bar

$0.6

Gen. Reception

Corkage

$5.3

- Upgrade to

Beef

$K

Expenses

This level of quality and expenses were based upon careful consideration of benefits and sponsorship status

In the past we have not had a hosted bar in the General Reception

$68

Final Expenses

$187/person

$50

Barebones Expenses

$135/person

Original per person estimates were $124 (general reception) and $140 (VIP reception) for food(chicken)/drinks only. This works out to weighted average of $128 per person assuming 279 general and 91 VIP.

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MITCNC


Spotlight continues to provide exposure for our club

VIMEO: http://vimeo.com/37561473

• As of April 17, 2012: – 723 Views (looked at the video's main page)

• 439 Started playback and stopped 0% to 24% of the clip • 115 Ended playback between 25% to 49% of the clip • 79 Ended playback between 50% to 74% of the clip • 64 Ended playback between 75% to 99% of the clip • 48 Played the entire video

• The number for entire video playback is quite high, being fourth of all the MITCNC club videos posted on Vimeo (check how many were recorded)

Tech TV : http://ttv.mit.edu/videos/17803-spotlight-mit-2012-john-reed-chairman-mit-corporation-mit-club-of-northern-california

• As of May 3, 2012

– 785 views since it was posted Feb. 26

Recordings of Spotlight 2012 event have been highly viewed

http://vimeo.com/37561473�

http://ttv.mit.edu/videos/17803-spotlight-mit-2012-john-reed-chairman-mit-corporation-mit-club-of-northern-california�

http://ttv.mit.edu/videos/17803-spotlight-mit-2012-john-reed-chairman-mit-corporation-mit-club-of-northern-california�

50

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Backup Slides


51

Historical Perspective Year Date Speaker Venue Attend-

ance Sponsors Sponsorship Totals

Pricing MITCNC/

non-members

2012 2/21/12 John Reed '61 SM '65 MIT Chair

Westin St Francis SF 370 See Sponsorship page for details $80,000 $75/$95

2011 2010 4/21/10 Susan Hockfield

MIT President Google Mt. View

300 • Barracuda Networks ~ $5,000? $30/?

2009 2008 10/13/08 Prof. Nicholas Negroponte

founder Media Lab and the One Laptop per Child Association

Airport Marriott San Mateo

320 • Palo Alto Investors • Seifel Consulting • Kenneth Allen G‘72 -- Townsend and Townsend and Crew

• Jeffrey Heller ‘68 – Heller Manus • Charles Salter ‘69 – Charles Salter Associates

• Anonymous?

$18,000 $65/$75

2007 5/21/07 Prof. Robert Langer Biotech Pioneer/Inventor

Nikko Hotel SF 176 • Palo Alto Investors ~ $5,000 $60/$70

2006 3/14/06 Tom Perkins ‘53 Venture Capitalist

Hotel Argent SF 334 • Cooley Godward • Kleiner Perkins • Lightspeed Venture Partners • Palo Alto Investors

~ $20,000+

2005 2004 2003 ?? Sheila Widnall

Aero/Astro Hiller Museum

2002 9/30/02 Prof. Lester Carl Thurow Economist

Crowne Plaza Hotel Palo Alto

$60/70

2001 10/25/01 George Shultz G’49 Former Sec. of State

Crowne Plaza Hotel Palo Alto

425 • Applied Materials • Chevron • Texaco • Lightspeed Venture Partners • Menlo Ventures • Mohr Davidow Ventures • ONSET Ventures • Trinity Ventures

~ $40,000+

$50/$60

2000 11/15/00 Tom Leighton Founder Akamai

Marriott Burlingame $45/$60

1999 10/20/99 Tim Berners Lee Internet Founder

Marriott San Mateo $60/$70

1998 10/8/98 Dr. Phillip Sharp Nobel Laureate in Biology

Westin Santa Clara >250 • Menlo Ventures • Wilson Sonsini Goodrich & Rosati • Bay Area Bioscience Center

$40/$55

1997 9/30/97 Alex d’Arbeloff '49 Incoming MIT Chair

Hotel Sofitel Redwood City

$50/$60

52

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Agenda

• Dinner 6:00 – 7:00 PM











• Other Business


53

MITCNC


Approve Minutes

Gavin McCraley

54

MITCNC


Finance/Audit Committee

Bill Murray

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MITCNC Scholars for ‘11-‘12

MIT Club of Northern California has helped 153 students from Northern California totally nearly $500,000 in aid. Below are the six MITCNC scholars for 2011-2012.

Eli B. Davis ‘15 Santa Cruz, California Robert Swanson ‘69 Memorial Scholar

Jordan M. Downey ‘15 Fairfax, California Janet Grosser ‘53 Memorial Scholar

Dario Garcia-Dominguez ‘15 San Francisco, California Judy and Phil ‘58 Friend Memorial Scholar

Oluwatobi O. Lanre-Amos ‘15 Mountain View, California Gaynor H. Langsdorf ‘32 Memorial Scholar

Arshia S. Surti ‘15 Pinole, California MIT Club of Northern California Alumna Scholar

Steven C. Zierk ‘15 Los Gatos, California

56

MITCNC


Proposed 2012 Donation to MITCNC Endowment at MIT

Two major events (ECT program managed by Doug Spreng '65 and John Reed '61- Spotlight 2012 managed by Elizabeth Ng '78) generated surpluses of over $20,000 and $30,000 respectively.

BOD Motion: Transfer the combined surpluses $50,000 from these events to MITCNC Scholarship Endowment.

57

MITCNC


Report from Outside Review Team (Bob Muh and Harbo Jensen)

Assuming everyone has read our Report and Addendum

Any Questions or Discussion on “REQUIREMENTS”

1. Audit Committee

2. Separation of Payments from Expenditure Approval

3. Reconciling Bank Statements

4. Hiring Employees and Contractors

5. Dealing with Friends, Family, Relatives

58

MITCNC


Report from Outside Review Team (Bob Muh and Harbo Jensen)

Any Questions or Discussion on “SUGGESTIONS”

6. Financial Reports for Club Officers and Directors

7. Bookkeeping Activity

8. Job Rotation

9. Two Signatures on Checks

10. Credit Cards

11. Compensation to an Alumni Volunteer

12. Annual Report to the Members

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MITCNC


Proposed Resolution Establishing Audit Committee (Essentially verbatim from the Report dated May 15, 2012)

Dissolve the “Financial Review Committee” and create an “Audit Committee” of the Board.

Audit Committee members are to be appointed by the Board of Directors. • Preferably, at least two members of the Audit Committee should have experience serving on some other

Audit Committee or conducting an audit of some other organization.

The Audit Committee has the following duties: • Each year, make sure that the following items were completed and submitted as required, and make sure

the forms list the correct names and any expense reimbursements or other compensation as required: Year-End Financials, Federal IRS Form 990, California Franchise Tax Board Form 199, California State Attorney General Form RRF-1, California Secretary of State Form SI-100.

• Conduct a detailed review of all (or a representative sample) financial transactions since the last audit. Since the Club does not retain a CPA firm to audit its books (and probably does not need to do so), the Audit Committee needs to conduct its own detailed review of specific financial transactions.

• Monitor the effectiveness of the audit process and financial reporting. • Review the adequacy of financial and operating controls. • Monitor whether certain compliance policies and procedures should be implemented; and, if so, monitor

their implementation and effectiveness. • Assist the Board in fulfilling its oversight of risk management, particularly financial risk exposures as well

as corporate governance structures and processes. • Evaluate the effectiveness of the Audit Committee itself. • The Audit Committee does not need to conduct a formal review each year, probably once every two or

three years would be adequate.

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MITCNC


Sponsorship Committee

Ron Koo

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Sponsorship Committee Members

Ronald Koo (chair)

• Nelson Lin

• Ed Tau

• Libby Seifel

• Jeff Rosen (ex-officio)

• Elizabeth Ng (ex-officio)

• John Chisholm (ex-officio)

• Catherine Calarco (ex-officio)

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Ever Increasing Goals

History • $35k. Initial Target. Let’s pay for Spotlight! • $50k. Raised Target. John & Harbo pulled in large pledges. • $100k. Final Target. Hey, sky’s the limit!

Final Result • $80k. Record sponsorship year!

Appreciation • John Chisholm and Harbo Jensen • Sponsorship committee members • MITCNC directors

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MITCNC


Nominating Committee

Howie Rosen

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MITCNC


Eight BOD Positions are Up for Election

• Stretch Goal: Two new BOD members each election cycle – Desire to bring new ideas, energy and contacts to BOD

– Honorary BOD positions possible

• Nominating Committee collected names – 16 suggestions from Committee and BOD members (6 more than

last year)

• Committee reviewed and prioritized suggestions and re-noms – Candidates were qualitatively reviewed on 3 criteria:

• Involvement/Commitment to MITCNC/MIT

• Ability to gain access to resources (facilities and people)

• Likelihood of serving on MITCNC BOD if asked

– Have list to start with for next year’s election

65

MITCNC


Reminder – Current BOD (pre-election)

Term Expires 7/31/12

Term Expires 7/31/13 Term Expires 7/31/14

• Harbo Jensen

• Fred Lam

• Nelson Lin

• Ben Matteo

• Barry Newman

• Eric Reifschneider

• Michael Sarfatti

• Joanne Spetz

• John Chisholm

• Mark Gorenberg

• John Keen

• Evan Matteo

• Bill Murray

• Libby Seifel

• Catherine Calarco

• Karin Hollerbach

• Ron Koo

• Howie Rosen

• Doug Spreng

• Raymie Stata

• Ed Tau

Honorary – Tom Burns

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Slate of Candidates for MITCNC BOD

BOD • Rolf Brauchler '69 (Course 2) - VMS Head, K-12, Past Officer MITCNC1

• Harbo Jensen2

• Fred Lam2

• Nelson Lin2

• Ben Matteo2

• Barry Newman2

• Gokul Rajaram ’01 (Sloan) - Facebook1

• Joanne Spetz2

1New candidate; 2Incumbent

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One Candidate for Honorary BOD

• Vote by MITCNC BOD only (not full membership)

• Bob Muh ‘59 – Former MITCNC BOD member and Chair

– Former MITAA Officer & President

– Former MIT Corporation

– Recently helpful with financial review

– Would consider re-joining BOD but meeting times a problem

– Honorary role supports his continued involvement

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Agenda

• Dinner 6:00 – 7:00 PM











• Other Business


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