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Depot Outlet Board of Directors
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the Decorah, Iowa
2011 Annual Meeting The following are highlights from the 2011 annual members meeting of Depot Outlet, Inc. held on Tuesday, January 18th at Decorah Lutheran Church: 1. Marilyn Holland, president, led the meeting discussion, and reported on the organization's business and funding activities during 2010. 2. Stacy Merrill, director, reported on the sales achievements of the Depot Outlet store during 2010. Merrill reported that the Depot Outlet store (i) set a new daily sales record during the spring open house, (ii) set a new monthly sales record, and (iii) set a new annual sales record. Merrill reported that new exterior store name signage was erected during the year. Merrill concluded noting that the organization worked with Decorah High School work experience program by using disabled students to intern at the store. 3. Helen Pinter, treasurer, and Joseph Bouska, certified public accountant for Depot Outlet, Inc., reported on the financial condition of the organization. Sales revenue during 2010 was $464,448.57, the highest revenue ever for the store. Operating profits for the year were $95,391.57 -- even though the organization spent $86,191.30 in providing funding and grants to various non-profits, charitable programs and church projects throughout 2010. The organization has no short or long term debt. Helen Pinter presented the board-approved budget for year 2011, which has expected sales and recycling revenue of $496,500, operational expenses of $481,150, and charitable funding level of $104,750. 4. The membership approved a resolution to spend $8,000 during 2011 to fund Depot Outlet's DOLR program of providing discounted taxi fare to disabled riders throughout Winneshiek County. The DOLR program provided approximately 4,000 subsidized rides to disabled residents of Winneshiek County during 2010. 5. David Boss, director of outreach and development at Northeast Iowa Community Action Corporation, gave a presentation on how Depot Outlet's annual financial contributions to their winter fuel assistance program has helped low-income families in Winneshiek County. 6. David Williams, legal advisor for Depot Outlet, discussed the historic contributions made by outgoing directors Marilyn Holland, Helen Pinter and Betty Hanson to the organization over the past 6 years. 7. Three new directors were elected -- Alma Meyer, Brenda Kreitzer and Karen Teslow.
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