June 3, 2015
The meeting of the Board of Directors of StudentRND was called to order at 7:00pm by Edward Jiang.
- Edward Jiang, Chair
- Tyler Menezes, Vice-Chair, Secretary, and Executive Director
- Christy Wilson, Board Member
- Charlie Kindel, Board Member
A quorum of members was present throughout the meeting.
No members were absent.
Executive Director Report
Tyler Menezes presented a report of StudentRND's operations since the last meeting:
- Overall success, attendees really seemed to enjoy it.
- Lots of pre-event press.
- e.g. 5 minute special on Univision nation-wide.
- 1 story in about 40% of markets
- 40% girls, 20% minorities. No delta in girls but that's a 5 point increase in minorities. Things like Univision helped, but largely through promotion with partner schools.
- NPS: 68 -- up 10 points. Overall much more positive feedback about Evangelists, so improved training works.
- Most neutral feedback mentioned bad wifi in the comments.
- As mentioned, lower sponsorship over last quarter. We contacted the expected number of sponsors, but almost none closed. Did raise $3k in global sponsors, $5k in local.
- Expenses down from last quarter. We made about $10k off this season, even with lower than expected sponsorship. Mostly due to no shirts, but also by cutting food spend; further reducing air spend.
We only have 10 people who've paid for the program now, 6 in session I, 4 in session II. There was a WAY higher than expected dropoff. We'd technically make a profit, but I don't think it's in the interest of most of the students Tyler talked to, who were more interested in group work.
Metrics were similar to last year, except with a very high dropoff between accepted and paid, which caused most of the lack of participation.
We promoted Labs in:
- parent newsletters from school districts -- Seattle, Bellevue, and Lake Washington school districts
- references and a referral program from past parents
- references and referrals from past students
- some robotics teams
- online advertising (Google non-profits adwords credit)
We tried also promoting in the SF bay region in case students were interested in traveling, because of the larger market. ~10% of applications were from students outside of Seattle.
We hit the metrics we were expecting, which I think shows in the increase of signups.
Some potential reasons we might have failed to convert as many:
- Some parents told me they weren't sold on the qualifications of our team after the interviews
- The long lead-time between applications (January) and interviews (May) may have caused
The board agreed to cancel Labs 2015, without any motion. The board also suggested arranging some form of mentorship for the students involved.
Tyler presented the Financials for Q3 2015, which were summarized as:
- Total assets: 18,672
- Income for period: 75,367
- Operating expenses for period: (89,465)
- Net income for period: (19,609)
Board Recruitment Status
- Zaq attended this meeting as an observer; board will decide on Zaq's inclusion on the board next meeting
- Meeting with Pejman was rescheduled
The board also took questions from Zaq about the role of the board.
CodeDay 2016 Schedule
Motion by Edward Jiang to table this agenda item.
Vote: 4 for, 0 against
Resolved: Motion carried
Strategy Meeting Planning
Charlie is unable to attend the originally scheduled meeting. The board agreed to reschedule the meeting for July 11.
Adjournment of Meeting
The meeting was adjourned at 8:00pm by Edward Jiang.