Board Meeting Friends of the First Company Governor’s Horse Guards, Inc

Dated: 22 May 2007 Locations: George’s Restaurant Unionville, Ct.

Time: 18:40

Present: Board Members: Richard Belliveau, Bill Cowell, Ken Nelson, James Murdock, Richard Morgenstern, Richard St. Pierre Non Board members- none

The Friends of the First Company Horse Guard held a meeting of the board of directors on 22 May 2007 to discuss financial status, golf tournament and addition of new board members with the passing of Everett Kandarian.

Minutes - from board meeting of 26 December 2006 were approved and accepted. Motion made by Morgenstern and seconded by Murdock.

Financial Review: - Ken Nelson reviewed the financials report with the board (see attached report). The report was accepted. Ken wrote checks to repay the board members for the seed money that was loaned to the Friends of 1GHG dating back to January 2006. Six checks were written for $500.00 to board member who contributed for a total of $3000.00

Golf Committee –Golf committee chairman updated the board on status of 2^nd Annual Golf Tournament to be held on 9/11/2007. Things are moving forward. To date have one breakfast sponsorship. Foursomes are a bit slow coming in, however we do expect things to improve. Printing of golf pamphlets cost $789.00 this year vs. $871.00 for last year since we only printed 2500 vs. 3000 pamphlets.

Directors Insurance- Board still looking into the pros and cons of getting directors liability insurance. Some members expressed strong concern about getting this to avoid personal liability. Will continue to investigate.

New board members – A lists of possible candidates have been provided to Richard Belliveau by each board member to be considered for additions as honorary members to the board of directors. Once the candidates are selected a letter of invitation and explanation of responsibilities will be send out to each candidate.

New Business

• Richard Belliveau will be looking to setting up another funding raising activity like a craft fair to be help on the grounds of the Horse Guard.

Open Items

• Directors Insurance
• Appointment of new directors and honorary board member.
• Possible new fund raisers.

Next meeting. July 24, 2007

Submitted,

William J. Cowell, Secretary