Annual Shareholders Meeting Minutes April 1, 2017





Mad River Glen Cooperative
POWDER! (No foolin’)

View a Video of the Annual Meeting

See the Powerpoint Presentation of the Meeting


Jon Anderson
Alan Bates
Annika Holtan
Meg Hourihan
Matt Kenny
Eric Palola
Ron Shems
Deb Steines
John Tobin

1) Call to Order at 5:00 p.m.

2) President’s Report

            See attached slides.

3) General Manager’s Report

            See attached slides.

4) Treasurer’s Report

            See attached slides.

5) Preserve Our Paradise / Fundraising Report

            See attached slides.

6) The Board recognized former Trustee, Treasurer and President John Stetson and out-going Trustee Jon Anderson for their six years of service on the Board and their outstanding contributions to Mad River Glen.            

7) Introduction of Trustee Candidates

            See attached slides.

8) Shareholder Questions:

  • Meg Hourihan — Will we have fish fries?  Matt L. said, “Yes!”  The Pub will be open Memorial Day through Columbus Day, Thursday, Friday and Saturday nights.
  • Tim Williams – Commented that we need an operating reserve that we can rely on instead of a line of credit.  He suggested that we look at increasing the APR or dedicating the APR to an operating reserve (instead of Mad Money, passes, etc).  He also suggested that shareholders could buy bonds from the Coop to fund an operating reserve. 
  • A shareholder – Commented that older skiers have migrated to other ski areas and asked if MRG should provide a senior pass to recapture and keep senior skiers, especially midweek. 
  • Betsy Jondro – Commented that we need to re-examine not only the price for seniors, but also 20-39 year olds. 
  • A person – Asked if we are creating a reserve fund for employees during shut downs/ layoffs?  Meg H. answered that this is important and being considered. 
  • Carol Pierce discussed the Paul Berzatsky ski school scholarships — two scholarships and thanks to donors, John Harvey and Rocky.
  • Catherine Willson – Will the grease trap in the kitchen be repaired so that it does not drip into ski school eating area.  Matt L. answered that it will be fixed.  We are not yet sure what will be involved, but it will be fixed. 
  • Deri Meier – What is the NOI for this fiscal year?  Matt L. responded that it has not yet been projected because March numbers are not yet set.  It will be later in April when it can be accurately projected.

Deri also asked about whether donations to the Endowment or general giving is a matter of donor preference or committee decision.  Annika answered that $250,000 in endowment is donor designated.  The Campaign prefers unrestricted gifts, but a gift restricted to the endowment is important, enlightened and also encouraged. 

  • Irma Heeter – Can Starks Nest be rented over the summer or is it owned by GMC?   It is not owned by the GM, it is owned by MRG.  It is available for free and open overnight for hikers and others.
  • A shareholder — Are the bird pictures going back into the birdcage where they originally were?  Matt Lillard responded:  Sure, why not, that can be part of the larger Bird Cage plan.   
  • Brandi Meyers – Commented that we should look for volunteerism opportunities to tap into shareholder skills to benefit the MRG community. 
  • Vivian Branschofsky – Commented that Brandi’s great idea requires a volunteer or management to be in charge every day to coordinate and manage volunteer projects. Vivian has run the volunteer projects at MRG that included painting the Basebox and other repairs.
  • A shareholder – Commented that we should explain what we do with the terrain to preserve and manage snow and not just rely on artificial snow.
  • Daniel Stein asked if there is any change in the snowmaking outlook.  He commented that he bought a pass at Sugarbush for when MRG is closed.  Matt L. answered that we need to study snowmaking and develop a strategy, including the need for capital and water. 
  • Jackie Albrecht– Commented that limited parking may be OK because we do not have capacity at the Mountain to handle larger crowds.  Parking should reflect the Mountain’s capacity.  Matt L. answered that we do not want to provide a bad experience with lines that are too long.  We need to be strategic and offer a good experience at the appropriate price of s great MRG ski day. 
  • Al Pierce asked Annika what is the eventual goal of the POP Campaign.  She answered that the Coop has a specific need for $6.5M and that we optimally want to raise $8.5M.  Beyond that there is not yet a specific goal. 

9) New Business (Advisory Only)

            No new business was discussed and no action was taken.

10) Out-going Trustee Jon Anderson thanked the Board and Board President Meg Hourihan for their work and stated that it had been great to serve with them. 

11) The Annual Meeting Adjourned at 6:18.  Voting for trustees continued for another 15 minutes. 

* Elections were held for two in-state and one out-of-state trustees.  Results were announced after the meeting: 

Megan Schultz – 417 (elected)
Alan Bates – 392 (elected)
Paula Rea – 195  

John Tobin – 216 (elected)
Lisa Rockefeller – 163
Matthew Milan – 102
Stephen Miele – 26