Doubleday Babcock Senior Center was pleased to accept a generous $100,000 donation from Fritz Coudert at the annual meeting of the board of directors on May 27. Mr. Coudert's donation was prompted by the center's need to solidify the long-term financial stability of the Senior Center. He has asked that it be called the "Angela P. Koenig Fund" and designated that, in lieu of interest earned by the assets in the fund, 4 percent of the annual audited asset value of the fund may be used each year to offset annual operating expenses. In addition, Mr. Coudert has agreed to match all capital donations of $1,000 or more, other than government grants, up to a maximum total of $100,000 over the next 18 months, further adding to the new fund. In a heartbeat, President Angela Koenig presented a $1,000 check to be matched. Mr. Coudert pointed out, "It is important that people understand that this new fund is not intended to meet the center's immediate financial needs and operating shortfall. It is designed to serve as part of the long-term solution to the center's financial needs.

It must be noted that the annual 4 percent to be applied to operating expenses will produce only $4,000 per $100,000 of the fund's assets. Even when the fund reaches one-half million dollars, only $20,000 will be available annually for operating expenses. In other words, the center must continue to rely heavily on its current sources of revenue and the generosity of the community. In the event of an emergency, the fund's assets will be available, subject to approval of the board of directors.

To address the current shortage, DBSC's finance committee adopted a strategy to address the immediate needs of the center. To that end, all of our friends and neighbors have been asked to consider enrolling or renewing membership in the "Friends of DBSC." Center members, board members, local churches and other helping organizations have been asked to be as helpful as their means allow. To date the center has raised $25,000 towards our goal of $67,000.

The board believes these actions will address not only the current shortage but will provide a firm financial foundation for the future. For information or to make a contribution please call Barbara Hadel at 922-1770.

Under nominating committee chair George Meyer, the following members' names were submitted and accepted at the meeting for re-election to office:

President: Angela Koenig

Vice President: Richard Longworth

Secretary: Ada Flower

Treasurer: George Chesterton

The following members' names of the class of 2003 were re-elected for a three-year term to the class of 2006:

Richard Cieciuch

Claire Fairman

Ada Flower

Angela Koenig

Karen D. Minicozzi

Rev. Ralph Peterson

Wynn Powers

Thomas Reardon

The board of directors for 2003-04 will consist of the following:

Class of 2004

Dr. Pat Azmitia

Fritz Coudert

Joan Kingsley, Esq.

Richard Longworth, Esq.

Jill Mason

George Meyer

Myrtle Minicozzi

Class of 2005

Dr. George Chesterton

Lynn Griffith

Dr. Ruth Peters

Susan Peterson

Susan Sheeline

Lillian Soricillo

Dr. Edward Verlander

Class of 2006

Richard Cieciuch

Claire Fairman

Ada Flower

Angela Koenig

Karen D. Minicozzi

Rev. Ralph Peterson

Wynn Powers

Thomas Reardon