minutes (thanks peter for saving notes)

board-documents/minutes/02-03-2017.md

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+Initial Board Meeting
+=====================
+
+Feb 3, 2017
+2:05-3:02 pm EST
+In attendance: Andrew, Peter, Matt, Naval, Rainey
+
+Minutes
+-------
+
+2. Incorporation
+
+- Board agreed to approve bylaws.
+
+- Try to be a charitable nonprofit?
+Board  a strategy to go for 501c3 and revert to 501c6 if that fails.
+
+- Officers
+
+Secretary: Peter
+President / Treasurer: Andrew
+
+- Andrew plans to schedule a weekly office-hours hangout.
+  Peter plans to attend frequently; digest in email if board-important issues discussed
+
+- Reminder to Please send conflict of interest forms
+
+3. Funding report, plans for how to handle it:
+
+- Board agreed to a broad strategy of folding funds primarily in Zcash (we’re less relevant if Zcash value crashes)
+  Some in dollars for bare minimum of near/medium term expenses.
+  
+- Operational: possibly a multi-sig scheme where 5 of directors should hold key shards, policy to be determined. 3 of 5 to sign? 
+
+- We begin with donation pledges of portions of the Founder's Reward, the largest of which comes from Least Authority
+
+- Board agreed to prefer a 1-time permanent transfer of rights rather than month-to-month
+
+4. Priorities, ideas.
+
+- Community development, diversity
+- Communication platforms to hear stakeholders and actively encourage their participation. e.g. Miners, mining pools
+- Development funds, bug bounties, fellowships
+
+5. Future of governance process.
+
+Start with no governance framework, but develop one. Goal is to eventually over to the “community”, via the “governance process”, in 9 months.
+
+By polling current users. We should also represent people who are not part of the community yet.

board-documents/minutes/04-05-2017.md

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+Zcash Foundation Board Meeting
+==============================
+
+April 5, 2017
+Started 9:12-9:55 PM (Athens time)
+In attendance: Peter, Andrew, Naval
+
+Minutes
+-------
+1. Need a new 5th Board Member
+- Board discussed potential candidates but did not reach a decision
+
+2. Application for non profit status and ‘activities’ statement
+
+- Peter wrote an initial draft of activities statement
+- We discussed a conversation with our lawyers at Bryan Cave on managing Conflict of Interest involving our involvement in Zcash, and what this means for our viability as a 501(c)(3).
+
+2. Budget update
+- Andrew received the first dibursement of pledged donations from Zcash Co, consisting of a portion of the Founder’s Reward that has already sold and earmarked for the foundation (estimated ~$90k).
+- We discussed the need for a management team, such as an Executive Director or half-time administrative staff.
+
+3. Test transaction awards.
+- Andrew proposed making a “test transaction” awards, a one-time only, community award, to (partially) subsidize volunteers who have invested a lot in zcash infrastructure. In particular, I would like to propose that we make the following three, one-time only “Test Transaction” awards, worth $2,000 each, to mineZcash, lustro, and radix42.
+- The board approved the test transaction award proposal

board-documents/minutes/04-18-2017.md

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+Resolution
+==========
+The board unanimously approved (over email) to invite Yan Zhu as fifth board member

board-documents/minutes/06-09-2017.md

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+Zcash Foundation Board Meeting
+==============================
+
+June 9, 2017
+Started 11:00 AM EDT
+In attendance: Andrew, Peter, Yan, Naval, Matt
+
+Minutes
+-------
+1. We welcome Yan as fifth board member
+
+- General discussion welcoming Yan and reviewing scope of organization 
+    - Financial Privacy broadly vs Zcash network specifically
+    
+- Each member shared what they are excited about regarding the plans for what the foundation should do
+    - Andrew: grants to good samaritans in the community 
+    - Peter: working groups (like W3C) to create more organic development of the tech that outlasts the Zcash company 
+    - Matt: Encouraging research on new uses for the protocol beyond cash, privacy and zk proofs in other realms and applications 
+    - Yan: agrees with Matt, very excited about all the ways the tech can be used  
+    - Naval: make sure foundation is run as sensible enterprise (with good cash management). 
+
+- Yan asks what the impetus for the foundation’s creation was 
+    - Andrew: much of it to be a recipient of the funds that are to be pledged from the mining reward for open development/non-profit
+
+- Andrew discusses our status as bootstrap board and the ultimate movement, potentially toward a permanent board.
+
+2. Discuss pending 1023 application, yet again
+- We reviewed a further revision of our activities and purpose statement
+- We reviewed a discussion with our lawyer on whether Zcash Co is a "parent company," and concluded "No", as we do not have a leadership role or controlling interest within the Zcash company.
+- The board approved to file our non-profit application
+
+3. Budget
+- The board approved to reserve 300 ZEC (approximately $80,000) for the grant program
+- We reviewed a job description written by Peter and Andrew for a Senior Project Manager and/or a Communications Manager. The board approved publishing the job description
+- The board approved to reserve a budget for a 2-year salary for project manager, $83,200
+- The board approved for treasurer (Andrew) to determine a way to exchange ZEC into dollars for this purpose, having money in $ safe to pay employee(s)
+
+4. Working groups
+- The board approved a draft of policies for a "Working Groups" model for coordinating volunteers.
+- The board approved to authorize the President (Andrew) to approve a working group without needing a board decision.