DGT Alumni Association's Annual Membership Meeting concluded with the election of the 2018 Board of Directors. This group will be responsible for continuing to manage transformation and transition in an organization first begun in the late nineteenth century to one that thrives through the 21'st century. The team will be led by Tom Fiorella, a 1974 graduate of the School of Engineering. Aika Mukhambetova, who completed her Masters in Design Management in 2015 will serve as Vice President in a visionary arrangement that provides for greater sharing of the roles and responsibilities formerly carried out by the President. Tom Wong, a 1984 graduate of the School of Engineering was re-elected as DGT Alumni Association's Treasurer. Gil Gerald, immediate past President, will serve as Secretary after five years of wielding the gavel. Vern Ford, a 1963 Fine Arts graduate in the field of Communications will hold the fifth position on the Board, Sargent-at-Arms. In remarks, Vern pointedly welcomed the election of Aika to the Board, in addition to other developments at DGT reflecting changes at Pratt, including the election of the first female President and a student body that is now 60-70% female.
The other agenda item that took up a considerable part of the meeting time was a review of the finances looking back at 2017 as the books are closed and being handed over for tax returns preparation by DGT's tax accountants. The income and expense statement for 2017 reflected over $17.6K in net operating income on gross income of $88.4K. Capital expenses of $30K, for necessary improvements to the property are reflected on the DGT Balance Sheet, which includes a liability of $28K in credit card debt that must be reduced in the coming months. Cash in DGT's Bank Accounts on December 31, 2017 was $8.3K. Monthly gross income from rent, arriving at the beginning of each month, is currently $7.8K.
Attending the meeting, which requires a quorum of 7 active members, were seven individuals on site, at 272 Clinton Ave., and one member online. A ninth active member logged on in California but was not present for the entire duration of the meeting. As of the start of the meeting, active membership (currently paid annual dues) totaled more than 50 men and women, a new high in active memberships, out of a total of 300 names that have been identified and entered into the database. The membership drive for 2018 ends on January 31. By comparison, in January, 2013 there were 7 active members total, the minimum for a quorum under By-laws first adopted in 1973. The next quarterly membership meeting is scheduled for Saturday, April 28, 2018, at 12:00 p.m. Eastern.