2021-04-21 OMA Agenda - Board of Trustees

Board Meeting Minutes – February 22, 2021 Call to Order : Dr. Craig Primack, President at 5:04 PM(MT) Roll Call: Dr. Lydia Alexander, Secretary/Treasurer

Attendees: Drs. Wendy Scinta, Craig Primack, Ethan Lazarus, Marisa Censani, Lydia Alexander, Ms. Sandra Christensen, Drs. Michelle Freshwater, Wickham Simonds, Larry Richardson, Angela Fitch, Sarah Hallberg, and Harold Bays. Mr. Jim Wilson (OMA Legal Counsel), Ms. Katrina Crist (OMA Executive Director), Ms. Joan Hablutzel (OMA Education and Events Director), Ms. Christin Hammond (Marketing and Sales Director), Mr. Christian DeSousa (OMA Senior Membership and Chapter Manager), and Ms. Dana Wicklund-Stifter (OMA Operations Specialist). Holly Baroway and Justin Jaffe (Stifel) were on the call for investment performance recap and left call after their presentation.

Approval of Agenda : No Objections Motion: Dr. Harold Bays Second: Dr. Ethan Lazarus

Vote: Motion Carries (unanimous)

Conflict of Interest Disclosures :

Dr. Bays – Paid consulting for Rhythm

2020 Investment Performance Holly Baroway and Justin Jaffe, from Stifel, gave a performance recap for the OMA investments for the 2020 calendar year. As of February 15, 2021, total assets amounted to $6,130,376. In 2020 cash flow was reduced due to the COVID pandemic and cash investments were moved to the OMA checking account at MidFirst Bank to cover expenses. In January 2021 excess cash from the checking account in the amount of $425,000 was sent to Stifel and to be reinvested. 2020 Financial Performance Summary Dr. Alexander gave a preliminary financial summary for OMA for the 2020 calendar year. The preliminary net revenue including investment income was in the amount of $510,586. Revenue from operations was $2,995,129, expenses were $2,879.391 amounting in operational net revenue of $75,738. IT Infrastructure costs booked below the operational line amounted to $92,740 additional expense plus investment income/returns of $527,606 resulting in the preliminary net revenue of $510,586.