Session 2020 November 28

2020 Sessions, Minutes

***Thanks to Pastor Veronica Akwe who graciously filled in as Secretary and also helped with the minutes.

In Attendance:
1. Mathias Waindim
2. Ferdinand Akombi
3. Mike Tubuo Ngong
4. Richard Ayuk, MBA, CPA
5. Chairman Dr. Eliot Obi Tabot
6. Dr. Charles Kome
7. Raphael Ebot – UK
8. Dr. Julius Abia
9. Christie’s EGBE Ayuk
10. Mary Assumpta
11. Sophia Agbor
12. Rev. Michael Ambe Neba Tangier
13. Joan Ebini
14. ELZA Tabi Etchu
15. Pastor Vero Ayukegba Akwe
16. Constance Eneme Ebong, MD

EXCUSED ABSENCES
17. Bernedette Akwa Streil – Munich Deutschland
18. Dr. Samuel Watue Fongang
19. Chester A. Bisong
20. Dr. Ralph Tanyi

11am -11.10 Meet & Greet

11.15 – Recorded Anthem.

Announcements- Celebrations or Silence : None

1.  Prayer by Pastor Vero Akwe 

2.  *Welcome by chairman: *
⁃   Praised members’ commitment to move the meeting to Saturday.  
⁃   He called on all to be thankful and show gratitude at all times. 
⁃   “Let’s count our blessings naming them one by one in words and in deed as we embark on this project for our alma mater.

Problems are temporary”

3.  Members acknowledged that they read through the minutes of 11/13/2020
    Mathias Waindim adopted the minutes. 

*4. Matters Arising from the Minutes *

A. Recent Elective General Assembly in Buea Nov. 20 & 21 :
HUGE THANKS to Mat. Waindim who volunteered to and registered all alumni members to the EGA – USD165.00
Alumni were logged into ZOOM for two days. Alumni participation was limited due to lack of equipment in Cameroon.

B. Funds for SOLAR ENERGY
USD3,500.000 ready for project.
Financial Secretary to send funds to our Mamfe team –
Mmes Sarah Ayuk and
Agnes Betek BACHI.
Alumni Fund suggest that Prof Betty Tanyi should provide oversight for quality control of the Solar Project.

C. On the question of email limitation.

  • “There is no limit to the number of email accounts” Rev. Ambe Neba

D. Mission Statement input on draft proposed by the chairman.

E. Membership Drive:
Big Shout out and Big Hand to
Dr. Samuel Fongang with addition of

  • Dr. Bakia from Dallas TX
  • Emmanuel Mbi ; Mansfield TX
  • Sisiku Dr. Ralph Tanyi; McAllen TX
    Ursula Tazisong 12th batch-1980
    Stella Orock Elokobi – 12th Batch
    During the EGA the Chairman also invited
  • Bernadette Akwa Streil in Munich Germany 🇩🇪
  • Hannah Mforsong in Holland
  • Chester Aruk Bisong in Nebraska
    We heartily welcome alumni to the family of ALUMNI FUND and pledge to work together for mutual growth and development of our alma mater.

5. We are most honored and privileged to have alumni in all works of life. It is no wonder that we are constantly learning from experts in the house.
Richard Ayuk, MBA;CPA has offered to lend his expertise to advance our objectives :
⁃ Sustainability of Alumni Fund so that the organization can live after us as well as minimize contribution fatigue.
How can we raise money to keep the association alive?

How do we get MAGGSOSA Alumni Fund to stand on its own, without depending on free will donations.

How do we raise money to support our Alma Mater?

How do we raise funds based on the budget we have over the years?

Only from members Registration and subscriptions fees?

Association should create avenues to make money that will make the association sustainable.

A percentage of the funds goes to the school and another percentage stays here to be used to run the organization.

Define our relationship with MAGGSOSA either as a subset or as an independent body.

Fees for Registration & Subscription

The chairman acknowledged that Richard has provided us with the framework pointing at the the main portals on which we will embark.
Sustainability should become one of the mantra of this organization so that the Association can remain solvent.
Funds should not only come from within but from without so that members don’t get tired of giving.
We will use this skeleton and make some more from it.
The framework has been provided, we should take it and run with it, and make it workable

The VISION – Longterm
The MISSION – Intermediate

Julius Abia suggested a project based approach, meaning we contribute or raise funds when we identify a project instead of creating a bank where we store money and it is not used.

Dr. Kome suggests that the Constitution should not be changed.
Once we obtain a 501C status- it will allow for application for grants.

Mathias Waindim inquired about extending our membership beyond Europe & N America.

Dr. Julius Abia suggested funds from registration & annual dues.

Ferdinand Akombi suggested partnership with GHS to pickup abandoned projects like the school dormitories/ hostels

Raphael Ebot supports and explained the Sustainability / Alternative Financing for Development.
Alumni Fund has to create a commercial activity and run it – allocate a certain percentage for GHS

The Chairman explained that Alumni Fund will operate like a Confederation to MAGGSOSA. We are independent but have a link.

6. Life Insurance
The Chairman proposed Life Insurance for Alumni and spouses
How can we set in place an insurance fund to support members and the organization

Suggest we put aside $100.00 per year per member towards the insurance, and add your spouse and pay extra $100.

In a year if nothing happens, then great.
The next year we move on and add $100.00 again per member.
In case we are unfortunate to lose more than one member, we can decide to contribute 200 each just so we maintain the pay out sum at a certain level.
⁃ USD 100.00 annually
⁃ 100,00 spouse
⁃ No lag time
⁃ Runs from Jan 1st to Dec 31st.
⁃ There is no carry forward
⁃ The chairman plans to write up a draft for the proposed insurance financial/certificate and send it out for review and approval.
Four to five bullet points to consider.
Prototype of the certificate will be made available.
Administrator or liaison for the insurance fund

Accounting needs be separated between insurance and registration/subscription.

The annual stipend insurance premium in addition to the Alternative Means of Funding is the basic motor that puts the bricks together.
Alumni Find will be the underwriters.

UPDATES ON FUNDRAISING
Pledges
Vero Akwe. $250.00
Raphael Ebot $150.00
Elza Tabi Etchu $100.00
TOTAL. $500.00
(Five Hundred USD)
Applause 👏🏾 Thank you very much.

The Financial Secretary, Mme Christie Egbe Ayuk informed members that board suggested minimal contributions of $500.00
(Five Hundred USD) each.
Those who joined and have pledged are encouraged to add a little bit more to their pledges.

Annual registration into MAGGSOSA ALUMNI FUND – $100/year
Insurance Fund into MAGGSOSA ALUMNI FUND – $100/member/year

  1. Closing 🙏🏾
  • Pastor Vero Akwe /Rev. Ambe Neba
  • Next meeting in 2 weeks 12/12/2020 @ 11am
  • Housekeeping:
  • Postings on Forum should be limited to Alumni Business and related matters to minimize overcrowding and drowning useful alumni business ⚜️💥💫