Kuleana minutes— Jan. 24, 2011

Kuleana Project MEETING SUMMARY Micro-Lending/Support Team
Date Time Location
Tuesday, January 24, 2011 4:45pm – 6:15pm Catholic Charities, 1822 Keeamoku St.
Leads Attendees
▪ Fran Gendrano (Out)
▪ John Cheever ▪ Rona Fukumoto
▪ Jessica Horiuchi
▪ Kevin Kawahara ▪ Michael Morales
▪ Ben Ancheta
▪ Lorene Yap Yvette Maskrey
TODAY’S AGENDA

1) Meeting was called to order at 4:45pm
2) Agenda
1. By-laws Review
1. People
a. Confirmed appointed Officers as noted in the By-laws:
i. President – John Cheever
ii. Vice President – Fran Gendrano
iii. Secretary – Michael Morales
iv. Treasurer – Ben Ancheta - confirmed with Ben during today’s meeting.
b. Noted by that attendees listed on this document are all Board members.
c. By-laws were updated and agreed upon by the Board.
d. Send out By-laws to Board members. (Mike M.)
e. Post By-laws to Google Share site. (Kevin K.)
2. Innovation Fund Update
1. Selected to provide a full proposal to Island Innovation Fund. Send information out to the Board. (John C.)
a. Post information to Google Share site. (Kevin K.)
2. Arrange a follow up meeting with PID and send out agenda with clear requests/requirements to obtain the following information due to the submission deadline. (John C. and Jessica H.)
a. Description of the organization
b. Audited financial information
3. Actions for Kuleana Team:
a. Budget
i. Create a budget narrative (John C. and Ben A.)
ii. Create a full Project Budget (Kuleana Board Members were identified to begin work) Kevin K. to post on the Google Share site all documentation.
1. Build out the budget. What will it cost us to run the Kuleana for the year. Begin list. (Kevin K.)
a. Once items are listed begin to categorize items as part of the Operating or Capital budget. (Ben A.)
2. Board agreed to review and further document the full micro-lending process to assist in the budget narrative and line item documentation.
iii. John C. agreed to work at Catholic Charities to begin most of the critical work.
iv. Call Bancoh to set up an account for Kuleana. (Rona F.)
v. Review Credit check and line impacts for prospective clients. (Yvette M.)
b. Process/Systems
i. Build out process requirements and processes for the following (Fran Gendrano):
1. Intake Request – PID and Catholic Charities example started:
a. Call in to PID and Catholic Charities
b. All calls should then be directed to John Cheever
2. Decision making process to approve loans
3. Support process of approved loans.
4. Sustainability of this foundation.
3. Other Kuleana Business
a. Kuleana Networking/Outreach Meetings
i. Update from the President’s meeting with the House Rep Jessica Wooley. (John C.)
1. Could potentially set up another meeting with Rep Jessica and others.
2. Jessica H. advised to first focus on metrics before moving forward with other potential partnerships.
3. Contact the student and professor at Shidler for assistance. (John C.)
b. 501(c)3 Update
i. Meeting has been scheduled with Nate Nelson on 1/25. (John C.)
c. Beta Applicant Form Review
a. Check if the applicants are native and after confirmation we may have 1 or 2 people fill out application fill out the form and review to review on 1/24. (Rona F.)
i. Reviewed application form for completeness and accuracy.
ii. Application shows definite value and will be good measurement to baseline other applications.
iii. Request is $7K for 36 months is a $221 per month at 8.5% loan.
iv. Per Lorene Y. repayment period should be shorter and amount of the loan should be smaller.
a. Future – Ben A. noted we could establish a venture capitalist type of process where if a loan applicant hits certain milestones they would be eligible for additional funds.
v. Ben A. noted that the application is a perfect application for the type of loan we are looking to lend out.
4. New Kuleana Business
a. Board agreed to submit grants for other non-profits such as OHA, US Vets, Woman’s Funds after 501(c)3 is approved and in parallel to Island Innovation Funding. (John C.).

3) Meeting Updates
1. Previous meeting’s Minutes were accepted into record.
2. Additional meeting is scheduled for 1/31 at 4:30pm due to the critical timeliness of completing the Island Innovation Fund proposal. Send out meeting request. (Mike M.)
3. Mike M. will be late to the meeting and requests the Treasurer or VP to take notes in his place.
4) Meeting adjourned at 6:15pm

UPCOMING MEETINGS/KEY EVENTS
• Next meeting is scheduled for January 31st, 4:30pm at Catholic Charities, 1822 Keeamoku Street, Room 2.