Career Resources, Inc. Board of Directors Meeting Minutes via Zoom May 13, 2022 Board Members Present Jill Brennan Kam Cheung Crystal Engram Victor Fuda Mickey Stayman Mark Soycher Craig Donovan Betsy Dupont Rich Dupont Mayor Toni Harp Christopher Kunhardt Rev. D. Stanley Lord Ilsa Moreno Mark Thorsheim Roger McKenzie, Chair BOD Staff Present Dr. William Clark Mary Murano Daniele Turner Markus Cherry Rob Hebert Angela Pellegrino-Grant Krystyna Ramano Scott Wilderman, CEO Wanda Lary Crystal Engram called the meeting to order at 8:35 am. Mission Moment – Chris Landino Chris focusing on building operations, partnerships and sustainable funders. In the coming fiscal year, goal is to build a culture of giving including the Board cultivating their network, the marketing team and relationships with individual donors. Winchelle hit the ground running and focusing on social. Bloomerang software has been handy and a big help in building data about donors. Ideally, will add a Development Coordinator and Brand Manager. Biggest challenge is identifying our brand and reinforcing it. Originally in evaluating the goal to get to $200K from zero, who needed to be targeted? Has about 30 large donors in focus – from active to engaged/building. 12 current leads for multifaceted partnerships. CTNext with small businesses in CT, talking about Entry Point Staffing and grants. Singer Foundation supported the opening of the Welcome Center, and invited us to apply for $50K. Webster Bank invited us to apply for $30K app. We are on the right track. Roger asked how this list was developed. Chris replied it was based on his network. Roger called out the possibility of Hedge Funds in the area. Chris said we need to grow our footprint in lower FFC to approach many of these organizations. Tudor if Stamford Youth program, come back to them. Kam asked the process of the actual monies being received. Chris explained how the organizations invite us to apply for a certain amount. The Sternlicht match may or may not apply in all cases. Chris referenced the calendar in his presentation. In December 2021, Chris sent a cultivation email to FCCF and they passed the email along to Mimi Sternlicht. She is starting an organization called Foundation House in Greenwich, and took an interest in Bridgeport. Listening tour in January 2022, after that, they indicated that CRI is the organization they’d like to work with. In April, Mimi came back to CRI with a matching challenge grant offer of $150K. Also a longer term relationship is being built. Decided by CRI in Dec/Jan that proposals for Entry Point Staffing should be unrestricted since it includes training. We will need facility support and vans for the Welcome Center via a Strategic Funding Cycle. Those funds can be designed for EPS. The matching grant efforts are aligned to this priority. Chris referred to a table in his presentation outlining the timing of decisions and all would need to be secured by June 30 to be eligible for the matching grant. CRI has been invited to apply up to $565K, but should at a minimum get $365K – these include the match. Chris K mentioned how important unrestricted funds are to help build staffing and overhead and indirect costs. Kam said the Finance Committee has discussed this at length as most of our grants are reimbursement based. We’re always trying to cover 5-10% gaps, and this is why the unrestricted is extremely important and allows us to build a buffer for strategic growth and working capital. This would be a huge success story if this all comes in, and how do we make this repeatable every year. This could transform CRI into longer term viability in serving the community. Mark Thorsheim asked about how we should be thinking about these Financial organizations – one time or ongoing/annual. Chris said it’s a case by case basis but prefers longer term. Chris K said sounds like a portfolio approach with various annuity-like funding. Kam mentioned that events would add on to this strong baseline funders plan. Developing a Culture of Giving is another focus area with a focus on tbe Board’s network for support via events and annual appeal. Need to plan ahead and cultivate. Rebranding effort being explored and will be presented back to the Board. Chris has found challenges in our positioning/mission statement, especially with the growth that has happened in the past few years. Approval of minutes – Chris K, and seconded by Mickey Finance report – Mickey Accounts receivable down substantially. On a treadmill near end of the quarter each time due to cash flow. Scott and Mickey meeting with M&T Bank to mitigate the issue. FInance committee looking into this in depth. Income statement – same place as April. Gap of $80,000. Variance is due to revenue instead of expenses, so the Finance committee is not as concerned about this gap as we should make it up by the end of the year. Normal variances in Cash Flow. Two areas of improvement – Chris Landino and unrestricted funds. Our DOC contract was up for renewal, with increase in funds and without increases in costs. Beginning in July we expect DOC to help contribute cash to the overall CRI budget. Budget is in progress. To be completed first draft by early June for Finance Committee approval. Management discussion included in our packets – Scott CLA Auditors completed our required paperwork for taxes and related efforts. Medical Insurance rate conversations are ongoing. Costs were 24% as originally proposed. Negotiated but closer to a 10% by changing from POS to EOS (so it’s an HMO) Most visits last year were in network, so likely switching to save costs. Wanda reported on the Inflation support for under $40K salary. 60 individuals were provided a membership to BJ’s and a $100 Amex gift card. It’s been well received. Kim Harris said the response was overwhelming by the employees. They know we care. There were even tears, Kim thanked everyone for the support. Scott said we’d like to have COLA increases of around 3% in the budget for approval. Baney Center AC issue: we have a proposal for CDBG (Community Development Block Grant) to request $200K for a new AC unit. We received approval for this and it should be installed by mid Summer. Rob also provided an update on Solar installation through Pierpoint energy at Baney Center. Will save our energy costs – maybe around $900/month. 341 Clinton Ave has been dormant. Put a bid in for another Halfway House. Was supposed to be renovated but city-funded contractor wanted payment up front, disappeared and now costs have gone up by 14%. Finance Committee approved $19K difference to secure contract through CSSD. Scott presented bios for five new Board members (see his presentation). Mayor Harp commended Scott for attracting interest from such high caliber people. Will vote on confirming them at the next meeting. Salary & benefits: We have been needing to do a compensation & review for some time. CRI should use the Alliance of Non Profit report to do so. Emergent Staffing Challenges: Chris K. SVP team has met with Scott and his leadership team to plan for challenges expected in coming months as it relates to grants we could win. 45-50 new FTEs would be needed as direct hires in Summer/Fall. Will be competing with other Grant winners for talent. In addition to direct hires, CRI administration needs VP of Rentry Non Residential Programming as well as a Financial Planning & Analysis contact. Potentially another reporting analyst. Potentially a HR, Facilities, and admin assistant to also help with the day to day. Scott – CRI is currently a $10M organization today, could be $13-15M if we get these grants in the coming months. CRI has been in the news! Most recently, we were recognized by the Governor as a Reentry Friendly Employer. Thanks to Krystna on this effort. We were only 1 of 5 organizations to get this honor. This week, at their awards event, SVP honored CRI (one of 3 organizations), Kelly from Workforce Board was in the audience and we were happy she could hear this. March 2022 Forum on Reentry. Rob relayed that it was successful and a great way to launch the “State of Reentry” report. Available on our website. It’s the first of its kind in the State of Connecticut. Will be annual effort. Bridgeport Rentry Welcome Center – over 75 people attended. Article in Board Package from CT Post. Operations Report – Angela Angela reported we have a new IT person and already an impact to the organization. Thanks to Krystina for Top Workplace survey. We could be awarded a Top Workplace stamp and will provide overall employee experience feedback. The Connection will be doing some training for specific teams and skills needed for their role. Grant Activity – Scott Mary has been working really hard on grants, see report in package. Annual Meeting will be June 24. Board retreat September 9th. Hold date October 21 for Jobterfest in person. Kim Harris thanked the Board members especially Crystal for bringing the first hire from EPS, who, through this employment saved $30K and she is going home and transferring her role back home to Massachusetts. I’ve never seen as many services provided to our clients in my 25 year career. Scott adjourned the meeting at 10:04.