This month’s meeting was a pleasant one, even if it was held on “April Fool’s Day”. One piece of news that brightened the day was the announcement of another substantial contribution by the Hobby Family Foundation. This gift of $10,000 makes them the largest of our donors, with a cumulative $37,000 in contributions. Our treasurer reported that our bank balance now stands at $144,744. Since our estimate of costs to open the first floor of the museum is about $199,000, we still need to identify an additional $55,000 before we can proceed to the next stage.
Last month it was noted that we had five grant applications pending. One of these, to the Brown Foundation, has now been rejected. We continue to await the result of our other applications. In addition, we have scheduled meetings with two groups that have offered to assist us in locating funding sources.
During this meeting we spent some time reviewing our lease with Hays County. The lease contains an “escape clause” that permits us to terminate the agreement at the end of five years if we are unable to obtain the necessary funds to open the museum. Since the lease period began on 2/25/98, we now have about ten months until this decision point is reached. This consideration makes it even more important that we do aggressive fundraising in the coming months.
Today the National Park Service is having the formal opening of the Junction schoolhouse on the LBJ ranch property. It has been completely renovated and refurbished. Ed and Jackie Cable of the board of directors are representing us at these festivities.