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WCCFDC revises performance measures, discusses loan terms and start-up nonprofit risk
Summary
Deputy Director Katie Bronson said the Governance Committee recommended removing a hazard mitigation performance measure; board members discussed loan terms and whether a 'start-up' category would be appropriate for WCCFDC loans, with staff saying a track record of fiscal management would be required and a member warning nonprofits often cannot offer personal guarantees.
Deputy Director Katie Bronson presented governance updates and a revised set of performance measures and goals. She said the Governance Committee recommended removing the performance measure on hazard mitigation and asked board members to complete the annual confidential board survey required by the NYS Authorities Budget Office. "No other revisions were suggested," Bronson said during the review.
During review of loan terms, Bronson said WCCFDC loan terms remain unchanged. Treasurer Julie DiLella asked for clarification on the proposed 'start-up' category; Executive Director Brian Pincelli said he had not previously considered start-up nonprofits as applicants and would "need to see a track record of fiscal management." Member Amanda McDonald added that "non-profits do not offer personal guarantees, therefore are risky loans." The board did not adopt any changes to loan policy at the meeting.
