Forte Preparatory Academy
Minutes
Board Meeting
Date and Time
Wednesday January 15, 2025 at 6:30 PM
Location
In Person Meeting location: 333 Seventh Avenue, 11th floor
Join Zoom Meeting: https://zoom.us/j/94001336885?pwd=K1AvOWN4MWM3U3VoSytQNkU5U1NDZz09
Directors Present
A. Espinosa, F. Lin, J. Cordero (remote), J. Schilling (remote), L. Mendez (remote), L. Rodriguez, S. Song, V. Abrams, W. Yip (remote)
Directors Absent
E. Winn, K. Mullen
Ex Officio Members Present
G. Browne
Non Voting Members Present
G. Browne
I. Opening Items
A.
Call the Meeting to Order
B.
Record Attendance
C.
Approve Dec Board minutes
II. Finance Committee
A.
Review November budget actuals (EdTec)
- Janeya from EdTec reviewed finances as of 11/30/24.
- Enrollment numbers for middle school are same as previous month; lower than budgeted.
- Grants from Summer Boost, New Schools Venture Fund, and Charter School Growth Fund have all been received. Another payment will be received in the Spring.
- Actual expenses for Facilities and Misc categories higher than budgeted. Forecasted to end the year positively at $257k.
- Average cash flow is above three months of expenses, which is the industry standard.
B.
Review/approve for submission (2023 990)
III. Governance Committee
A.
Share back: Board self-assessment 2024
B.
Confirm Board Committee's 2025 goals
C.
Board vote: New Officers (2025)
Ellen running as a candidate for the Chair role and Jennifer as a candidate as Secretary; Treasurer role is still available. Fiona will be Treasurer until we find a candidate.
IV. Fund/Dev Committee
A.
Update: Capital Campaign progress
- Graham and Sally presented a slide deck of the learnings from diligence calls with fundraising firms
- Reviewed Strategic Overview of a campaign
- Scored six different fundraising firms and reviewed the decision criteria
- 10-20% of raised funds go into the fundraising fees
- Highlighted 7 key takeaways and open questions
V. CEO updates
A.
SY 24-25 progress updates
- Reviewed Dec 2024 events; Jan and February upcoming events
- Forte Prep is now a nationally recongized school
- Best Public Middle School in New York state in US News
- Top 5 Charter School in New York state for Math and ELA results
- Enrollment decreased by a few students for the high school
- 2025-26 hiring launched and COO search in good progress
- Interim COO in contract phrase
- Facilties: construction update; 126 structual piles installed and foundation slab layed
- Forte Effect Campaign raised $5933; 15 total donors
- Career Day in May - can volunteer