CENTURY ROAD CLUB ASSOCIATIONMEETING OF THE BOARD OF DIRECTORS

August 22, 2016

The Board of Directors (the “Board”) of the Century Road Club Association (the “CRCA”) held a duly noticed meeting on August 22, 2016 at the offices of Gibson, Dunn & Crutcher at 200 Park Avenue, New York, New York.

The meeting was called to order by Alexis Kraft, President of the Board, at approximately 7:00 PM.

The following members of the Board, constituting a quorum of the Board, were present in person or telephonically:

• Alexis Kraft – President
• Gabrielle Fisher – Vice President, Racing
• Fred David – Secretary
• Ken Edwards – Treasurer
• Mim Gilbert – Communications Director
• Ted Teyber – Director of Open Racing

1. TURKEY RACE

The Board discussed the reinstitution of the Turkey Race and how to obtain the requisite marshals for the race, including offering amnesty for suspended riders and obtaining a sponsor to provide sufficient revenue to the CRCA to allow the CRCA to hire paid marshals. The Board determined to explore both alternatives and to discuss a final solution at a later date.

2. WEBSITE REVAMP

Mrs. Gilbert provided an update on the process of revamping the CRCA’s website. Mrs. Gilbert reported that she was working with an outside developer to re-design the front-end of the website with a goal of having the new website ready to be launched by year-end.

Mrs. Gilbert also reported on work to change the privacy settings on the website’s back-end / database to ensure members’ personal information remained private.

Mr. David agreed to reach out to Randy Locklair to determine steps for upgrading and modernizing the website’s back-end / database.

3. END OF YEAR PARTY

Alexis provided an update on planning for the end-of-year party, which is expected to be held at the Rapha Cycle Club New York in November. The Board discussed the budget for the party and plans to promote the event.

4. OPEN RACING LOGISTICS POSITION

The Board discussed options for further delegating work related to the club’s open races, including new volunteer or board positions. The Board determined to pursue a structure where each open race (other than those held in Central Park) would have a separate race director who would receive appropriate compensation and to seek out an additional person who would be in charge of managing logistics for all of the open races and who would also receive appropriate compensation. Mr. Teyber agreed to reach out to potential volunteers for the positions.

5. 2017 BOARD ELECTION

The Board discussed timing for the 2017 board election process. Mr. Kraft agreed to each out to Rod Millot, former president of the CRCA, regarding establishing an election committee.

6. TREASURY / FINANCIAL

Ken Edwards provided a detailed update on the status of the CRCA’s financial position, including a presentation of the CRCA’s available cash, the current revenue from membership enrollment and donations (which is still currently trending slightly down compared to 2015), open race registrations and remaining 2016 expenses. Mr. Edwards reported that the CRCA is currently projected to break even or make a small profit in 2016 based.

Mr. Edwards followed up on the previously discussed proposal to re-invest CRCA’s cash holdings into higher-yielding assets. Mr. Edwards and the Board determined not to further pursue the matter.

7. SPONSORSHIPS

The Board discussed sponsorship opportunities for 2017, including title sponsors for open races. Mr. David agreed to follow-up with Russ Bogin regarding preparing a sponsor proposal “deck” that could be sent to prospective sponsors.

8. OPEN RACING

Ted Teyber provided an update on the status of preparations for the CRCA Hincapie Classic in Memory of Lou Maltese and the CRCA Hincapie Grand Prix in Honor of Fred Mengoni.

9. ADJOURNMENT

There being no further business, the meeting was adjourned at approximately 9:00 PM.

Respectfully submitted,

__________________________ Fred David Secretary