BRIDGE FOUNDRY, INC.
BOARD OF DIRECTORS
MEETING MINUTES
July 30, 2017
Board Members Present: Melissa Isa Herico, Karen Herreid, and Sarah Allen
Guests Present: None
The first meeting of the Bridge Foundry Board of Directors was held on Sunday, July 30, 2017, with everyone participating by online video-conference with live audio and screen sharing.
Sarah Allen assumed her role as chair of the meeting and noting the presence of a quorum called the meeting to order at 3 p.m. and Sarah Allen also acted as recording secretary.
Draft resolutions for the initial board meeting as well as draft bylaws were provided to all participants before the meeting. The resolutions and the bylaws were reviewed and the following changes were suggested by the Board:
- add language to the bylaws requiring the organization to maintain director & officers insurance;
- add language to the resolutions requiring D&O insurance be obtained before the organization conducts further business (except for qualifying as a foreign corporation in California);
- add language to the resolutions regarding qualifying as a foreign corporation in California; and
- add language to the bylaws establishing a COO position.
Legal counsel will be asked to make the requested changes and the documents will be circulated to the Board of Directors for final review and approval.
The Board discussed establishing an account for electronic document signing. Sarah Allen will look into the process for doing so and report back to the Board regarding any costs for doing so.
The Board also discussed its continuing commitment regarding transparency and upon motion duly made and seconded, it was
RESOLVED: that Bridge Foundry is committed to transparency in all of its operations, while keeping private information of individuals private to ensure safety and respect, and Bridge Foundry seeks to create policies to support its goals of transparency without creating an operation burden on the organization.
The Board discussed how to facilitate the maintenance of documents consistent with the organization’s pledge of transparency and upon motion duly made and seconded, it was
RESOLVED: that Bridge Foundry establish a virtual office to store records of the organization; and it was further
RESOLVED: that Sarah Allen was charged with reviewing and recommending options for establishing a virtual office and report to the Board of Directors at the next meeting regarding same.
There being no further business, the meeting was adjourned at 5 p.m.
Respectfully submitted,
s/ Isa Herico
Recording Secretary