Chris Cipoletti fired by ANA board
Michigan
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Christopher Cipoletti has been fired as executive director and legal counsel of the Colorado Springs-based American Numismatic Association, the nation’s largest coin collector organization, effective 5 p.m. today.
The association’s nine-member board of governors voted to “terminate with cause” Cipoletti’s employment in a closed executive session Monday evening and announced the decision today during a public meeting broadcast to the organization’s 35 staff members.
“Because it’s an employment issue, we don’t give specifics, but we felt there’s adequate cause to fire him,” Barry Stuppler, president of the board, said in an interview after the meeting.
Cipoletti, 46, did not return a call to his Colorado Springs home today. Cipoletti, a lawyer who specializes in employment law, had been executive director since January 2003 and also served as the organization’s legal counsel.
The move by the board, voted in by the organization’s 32,000 members a few months ago, caps years of turmoil for the association, which was federally chartered by Congress in 1891 as an educational, historical and scientific nonprofit organization. Questions about finances, claims of secrecy, staff turnover and a pending lawsuit have plagued the organization.
“It may be fall outside, but to us it’s bright spring — this board and staff are paving the way for the association to move up and beyond where it’s been,” said Ed Rochette after today's announcements. Rochette served as association executive director before Cipoletti’s term and is now a board member. The local money museum is named after him.
An arbitrator will help settle Cipoletti’s employment contract with the association, which runs through Dec. 31, 2008, with an option for a five-year renewal, Stuppler said. The organization’s projected $800,000 operating budget deficit for this fiscal year could be affected by the outcome of the arbitration, he said.
Cipoletti gave a presentation of an undisclosed nature to the board for more than an hour during a working dinner Monday, Stuppler said.
“After his presentation, we decided to terminate him,” Stuppler said.
A committee will set directives for hiring a new executive director, Stuppler said. Former association president Kenneth Hallenbeck of Colorado Springs is acting executive director.
“Members have every reason to be optimistic about the future, given the current board and leadership of the ANA,” said Sam Deep, a 27-year member of the organization from Pittsburgh, who attended Tuesday’s meeting here.
Cipoletti’s removal also prompted the board to nullify a $1 million donation pledge — the largest financial pledge in the organization’s history — from a member that Stuppler said was contingent on the organization maintaining the same management and granting naming rights to two proposed money museums.
Cipoletti has been on administrative leave since Aug. 12, the first official action of the new board. Stuppler said Cipoletti was placed on leave to give him time to concentrate on a civil lawsuit he and the American Numismatic Association filed more than two years ago against three former employees and an independent computer contractor and his company. The lawsuit alleges civil theft of proprietary business information, harassment against Cipoletti, civil conspiracy, breach of fiduciary duty and other complaints.
Cipoletti’s change of employment status in August prompted the association’s lawyer handling the case to resign, and a new attorney, Lance Sears of Sears & Swanson PC in Colorado Springs, has been retained to represent the co-plaintiffs, Stuppler said.
“The ANA has hired an attorney to look into the ANA’s position in the lawsuit,” he said.
This month, a jury trial in 4th Judicial District Court was rescheduled for the fourth time to Aug. 18, 2008. The four defendants have filed a motion for partial summary judgment, which has not been ruled on.
The association has paid about $400,000 in legal fees on the case, Stuppler said.
Board members also in August raised questions about the organization’s operating budget deficit, which for the past five years under Cipoletti’s leadership has ranged annually from $266,000 to more than $1 million.
The board hired an independent certified public accounting firm to determine whether an audit is needed. Stuppler said Tuesday that the board had not received the report.
Based on the financial picture, the board Monday agreed to withdraw $925,000 from its endowment fund of approximately $21 million to pay off a bank line of credit.
“We felt it was not acceptable to have that credit line,” Stuppler said.
Board members also voted Monday to scrap plans to build a money museum inside the historic San Francisco Mint, and decided in a board conference call Oct. 2 to cancel plans to build a $20 million museum in Washington, D.C., saying it could not handle such a financial commitment. Stuppler said plans to expand the Edward C. Rochette Money Museum in Colorado Springs are on hold.
Stuppler pledged an open, transparent atmosphere for the board, staff and members.
“We have a new management change, a new structure and a new culture,” he said. “In the past, there hasn’t been an open line of communication, and we’re trying to remedy that.”
Cipoletti’s annual salary, benefits and expense account totaled more than $250,000.
Attorney Ron Sirna of Michigan replaces Cipoletti as general counsel.
The association’s nine-member board of governors voted to “terminate with cause” Cipoletti’s employment in a closed executive session Monday evening and announced the decision today during a public meeting broadcast to the organization’s 35 staff members.
“Because it’s an employment issue, we don’t give specifics, but we felt there’s adequate cause to fire him,” Barry Stuppler, president of the board, said in an interview after the meeting.
Cipoletti, 46, did not return a call to his Colorado Springs home today. Cipoletti, a lawyer who specializes in employment law, had been executive director since January 2003 and also served as the organization’s legal counsel.
The move by the board, voted in by the organization’s 32,000 members a few months ago, caps years of turmoil for the association, which was federally chartered by Congress in 1891 as an educational, historical and scientific nonprofit organization. Questions about finances, claims of secrecy, staff turnover and a pending lawsuit have plagued the organization.
“It may be fall outside, but to us it’s bright spring — this board and staff are paving the way for the association to move up and beyond where it’s been,” said Ed Rochette after today's announcements. Rochette served as association executive director before Cipoletti’s term and is now a board member. The local money museum is named after him.
An arbitrator will help settle Cipoletti’s employment contract with the association, which runs through Dec. 31, 2008, with an option for a five-year renewal, Stuppler said. The organization’s projected $800,000 operating budget deficit for this fiscal year could be affected by the outcome of the arbitration, he said.
Cipoletti gave a presentation of an undisclosed nature to the board for more than an hour during a working dinner Monday, Stuppler said.
“After his presentation, we decided to terminate him,” Stuppler said.
A committee will set directives for hiring a new executive director, Stuppler said. Former association president Kenneth Hallenbeck of Colorado Springs is acting executive director.
“Members have every reason to be optimistic about the future, given the current board and leadership of the ANA,” said Sam Deep, a 27-year member of the organization from Pittsburgh, who attended Tuesday’s meeting here.
Cipoletti’s removal also prompted the board to nullify a $1 million donation pledge — the largest financial pledge in the organization’s history — from a member that Stuppler said was contingent on the organization maintaining the same management and granting naming rights to two proposed money museums.
Cipoletti has been on administrative leave since Aug. 12, the first official action of the new board. Stuppler said Cipoletti was placed on leave to give him time to concentrate on a civil lawsuit he and the American Numismatic Association filed more than two years ago against three former employees and an independent computer contractor and his company. The lawsuit alleges civil theft of proprietary business information, harassment against Cipoletti, civil conspiracy, breach of fiduciary duty and other complaints.
Cipoletti’s change of employment status in August prompted the association’s lawyer handling the case to resign, and a new attorney, Lance Sears of Sears & Swanson PC in Colorado Springs, has been retained to represent the co-plaintiffs, Stuppler said.
“The ANA has hired an attorney to look into the ANA’s position in the lawsuit,” he said.
This month, a jury trial in 4th Judicial District Court was rescheduled for the fourth time to Aug. 18, 2008. The four defendants have filed a motion for partial summary judgment, which has not been ruled on.
The association has paid about $400,000 in legal fees on the case, Stuppler said.
Board members also in August raised questions about the organization’s operating budget deficit, which for the past five years under Cipoletti’s leadership has ranged annually from $266,000 to more than $1 million.
The board hired an independent certified public accounting firm to determine whether an audit is needed. Stuppler said Tuesday that the board had not received the report.
Based on the financial picture, the board Monday agreed to withdraw $925,000 from its endowment fund of approximately $21 million to pay off a bank line of credit.
“We felt it was not acceptable to have that credit line,” Stuppler said.
Board members also voted Monday to scrap plans to build a money museum inside the historic San Francisco Mint, and decided in a board conference call Oct. 2 to cancel plans to build a $20 million museum in Washington, D.C., saying it could not handle such a financial commitment. Stuppler said plans to expand the Edward C. Rochette Money Museum in Colorado Springs are on hold.
Stuppler pledged an open, transparent atmosphere for the board, staff and members.
“We have a new management change, a new structure and a new culture,” he said. “In the past, there hasn’t been an open line of communication, and we’re trying to remedy that.”
Cipoletti’s annual salary, benefits and expense account totaled more than $250,000.
Attorney Ron Sirna of Michigan replaces Cipoletti as general counsel.
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“After his presentation, we decided to terminate him,” Stuppler said.
This is the stuff comedy is made of.
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Good luck, Ron. I think?
Apropos of the coin posse/aka caca: "The longer he spoke of his honor, the tighter I held to my purse."
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undisclosed discussions.
maybe they feel the ANA members are just too slow to keep up.
<< <i>what bothers me is that the ANA even feels the need to have
undisclosed discussions.
maybe they feel the ANA members are just too slow to keep up. >>
I bet it's the opposite....we're too smart for them.
<< <i>Cipoletti gave a presentation of an undisclosed nature to the board for more than an hour during a working dinner Monday, Stuppler said.
“After his presentation, we decided to terminate him,” Stuppler said.
This is the stuff comedy is made of.
Exactly what I was thinking. Man, what possibilities one can come up with for that presentation ... one so appalling that you get immediately terminated? Got ideas, but they are generally too warped and twisted.
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<< <i>"Attorney Ron Sirna of Michigan replaces Cipoletti as general counsel."
Newmismatist's goin legit!
Good luck, Ron. I think?
Congrats Ron.
<< <i>Christopher Cipoletti has been fired as executive director and legal counsel of the Colorado Springs-based American Numismatic Association, the nation’s largest coin collector organization, effective 5 p.m. today.
The association’s nine-member board of governors voted to “terminate with cause” Cipoletti’s employment in a closed executive session Monday evening and announced the decision today during a public meeting broadcast to the organization’s 35 staff members.
“Because it’s an employment issue, we don’t give specifics, but we felt there’s adequate cause to fire him,” Barry Stuppler, president of the board, said in an interview after the meeting.
Cipoletti, 46, did not return a call to his Colorado Springs home today. Cipoletti, a lawyer who specializes in employment law, had been executive director since January 2003 and also served as the organization’s legal counsel.
The move by the board, voted in by the organization’s 32,000 members a few months ago, caps years of turmoil for the association, which was federally chartered by Congress in 1891 as an educational, historical and scientific nonprofit organization. Questions about finances, claims of secrecy, staff turnover and a pending lawsuit have plagued the organization.
“It may be fall outside, but to us it’s bright spring — this board and staff are paving the way for the association to move up and beyond where it’s been,” said Ed Rochette after today's announcements. Rochette served as association executive director before Cipoletti’s term and is now a board member. The local money museum is named after him.
An arbitrator will help settle Cipoletti’s employment contract with the association, which runs through Dec. 31, 2008, with an option for a five-year renewal, Stuppler said. The organization’s projected $800,000 operating budget deficit for this fiscal year could be affected by the outcome of the arbitration, he said.
Cipoletti gave a presentation of an undisclosed nature to the board for more than an hour during a working dinner Monday, Stuppler said.
“After his presentation, we decided to terminate him,” Stuppler said.
A committee will set directives for hiring a new executive director, Stuppler said. Former association president Kenneth Hallenbeck of Colorado Springs is acting executive director.
“Members have every reason to be optimistic about the future, given the current board and leadership of the ANA,” said Sam Deep, a 27-year member of the organization from Pittsburgh, who attended Tuesday’s meeting here.
Cipoletti’s removal also prompted the board to nullify a $1 million donation pledge — the largest financial pledge in the organization’s history — from a member that Stuppler said was contingent on the organization maintaining the same management and granting naming rights to two proposed money museums.
Cipoletti has been on administrative leave since Aug. 12, the first official action of the new board. Stuppler said Cipoletti was placed on leave to give him time to concentrate on a civil lawsuit he and the American Numismatic Association filed more than two years ago against three former employees and an independent computer contractor and his company. The lawsuit alleges civil theft of proprietary business information, harassment against Cipoletti, civil conspiracy, breach of fiduciary duty and other complaints.
Cipoletti’s change of employment status in August prompted the association’s lawyer handling the case to resign, and a new attorney, Lance Sears of Sears & Swanson PC in Colorado Springs, has been retained to represent the co-plaintiffs, Stuppler said.
“The ANA has hired an attorney to look into the ANA’s position in the lawsuit,” he said.
This month, a jury trial in 4th Judicial District Court was rescheduled for the fourth time to Aug. 18, 2008. The four defendants have filed a motion for partial summary judgment, which has not been ruled on.
The association has paid about $400,000 in legal fees on the case, Stuppler said.
Board members also in August raised questions about the organization’s operating budget deficit, which for the past five years under Cipoletti’s leadership has ranged annually from $266,000 to more than $1 million.
The board hired an independent certified public accounting firm to determine whether an audit is needed. Stuppler said Tuesday that the board had not received the report.
Based on the financial picture, the board Monday agreed to withdraw $925,000 from its endowment fund of approximately $21 million to pay off a bank line of credit.
“We felt it was not acceptable to have that credit line,” Stuppler said.
Board members also voted Monday to scrap plans to build a money museum inside the historic San Francisco Mint, and decided in a board conference call Oct. 2 to cancel plans to build a $20 million museum in Washington, D.C., saying it could not handle such a financial commitment. Stuppler said plans to expand the Edward C. Rochette Money Museum in Colorado Springs are on hold.
Stuppler pledged an open, transparent atmosphere for the board, staff and members.
“We have a new management change, a new structure and a new culture,” he said. “In the past, there hasn’t been an open line of communication, and we’re trying to remedy that.”
Cipoletti’s annual salary, benefits and expense account totaled more than $250,000.
Attorney Ron Sirna of Michigan replaces Cipoletti as general counsel. >>
I figured he'd get canned. Now the board should focus on an investigation of former President Bill Horton and his part in the antics of the previous regime.
Camelot
"This month, a jury trial in 4th Judicial District Court was rescheduled for the fourth time to Aug. 18, 2008. The four defendants have filed a motion for partial summary judgment, which has not been ruled on.
The association has paid about $400,000 in legal fees on the case, Stuppler said."
Whatever the merits (if any) of this case I think it should be dropped, after spending this much money what do they really expect
to gain?
<< <i>-- The association has paid about $400,000 in legal fees on the case, Stuppler said." --
I could not help but notice that, too. That comes to annual dues for about 10,000 members. An organization like the ANA should not be racking up a half million dollars in legal fees.
<< <i>I could not help but notice that, too. That comes to annual dues for about 10,000 members. An organization like the ANA should not be racking up a half million dollars in legal fees. >>
That's what happens when lawyers run an organization.
<< <i>“After his presentation, we decided to terminate him,” Stuppler said. >>
That is the best line in the story. However, given the $400,000 in legal fees already expended plus additional legal fees for Cipoletti's ouster (even though there will be an arbiter involved) and the $100,000 for fundraising training expenses, we are looking at a good chunk of the entire membership dues for the year being absorbed for this nonsense.
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<< <i>
<< <i>“After his presentation, we decided to terminate him,” Stuppler said. >>
That is the best line in the story. However, given the $400,000 in legal fees already expended plus additional legal fees for Cipoletti's ouster (even though there will be an arbiter involved) and the $100,000 for fundraising training expenses, we are looking at a good chunk of the entire membership dues for the year being absorbed for this nonsense. >>
I expect that there is also a severance package which has not been disclosed. I would guess that this would be another $250k at the very least.
<< <i>
<< <i>I could not help but notice that, too. That comes to annual dues for about 10,000 members. An organization like the ANA should not be racking up a half million dollars in legal fees. >>
That's what happens when lawyers run an organization. >>
Pretty much sums it up. Should have learned our lesson with Congress.
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2) Good that the new board has done this.....really late to be doing it (old board screwed up MAJOR...no wonder they wanted to hide everything)
3) Stuppler is a moron. He was on the old board and party to all the issues, including letting cipoletti run rampant and now he is president and trying to do the opposite of what he did prior.....I guess he has no convictions and just does what he is told.
4) Congrats to Ron on the new position....I have thought, before, that an organization like the ANA, which has members in the law field, should have a member/collector in the position. Someone that would care about doing the right thing and not just try to control the org and grind the most money/fringe benefits out of it.
Good for the new board......too bad that, and I repeat, Stuppler didn't show a set on the old board and try to prevent things from becoming so bad.
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<< <i>Attorney Ron Sirna of Michigan replaces Cipoletti as general counsel.
Here Here! Congrats Ron!
More seriously, it's clearly too bad that the ANA situation degenerated to this outcome. I think a major cause is, as others have suggested, the previous Board and President. They apparently did not have enough "gumption" to shorten Mr. Cipoletti's leash. I recall someone talking (in CW I believe) about how independent the Board members were and how they would not simply acquiesce to Mr. Cipoletti's plans. It seems to be that that analysis was not terribly accurate. And, those of us who recall former ANA President Horton's self-congratuatory essay in the Numimatist where he gave himself and his adminstration a really high grade...I wonder what grade he'd assign now?
One last comment: As others have noted, spending $500,000 on a lawsuit and training to raise funds--what a total waste.
<< <i>If someone kept me from my dinner for an hour, I'd fire his arse also.
More seriously, it's clearly too bad that the ANA situation degenerated to this outcome. I think a major cause is, as others have suggested, the previous Board and President. They apparently did not have enough "gumption" to shorten Mr. Cipoletti's leash. I recall someone talking (in CW I believe) about how independent the Board members were and how they would not simply acquiesce to Mr. Cipoletti's plans. It seems to be that that analysis was not terribly accurate. And, those of us who recall former ANA President Horton's self-congratuatory essay in the Numimatist where he gave himself and his adminstration a really high grade...I wonder what grade he'd assign now?
One last comment: As others have noted, spending $500,000 on a lawsuit and training to raise funds--what a total waste.
Former ANA President Bill Horton will go down in ANA history as one of its worst presidents due to his alliance with Cipoletti, museum naming rights issue, and, of course, the Walt Ostromecki removal fiasco. I only hope that the current board will have him and some of the old regime investigated. I know that the odds of that happening are slim but one never knows.
<< <i>I'd still like for the ANA to show exactly where the monies for the legal defense fund (ACG) went exactly. >>
Good question.....maybe "Accugrade" Barry (Stuppler) might know something.
...and for selfish reasons - because I live in the San Francisco Bay Area - I also hated to read this:
"Board members also voted Monday to scrap plans to build a money museum inside the historic San Francisco Mint."
Bye,
Ed R.
While I think your views about former-President Horton and mine are not too far apart, I prefer there be no investigation. After all, there is NO suggestion of funds being misused and hence no way the ANA would gain added revenue. All the investigation would do is to make some people--you, for instance--happy at the cost of 1) hard feelings on the part of the pople being investigated; 2) a distracted current board; and, 3) more expense for the ANA. From my outsider's vantage, the gain is not worth the cost.
<< <i>Michael:
While I think your views about former-President Horton and mine are not too far apart, I prefer there be no investigation. After all, there is NO suggestion of funds being misused and hence no way the ANA would gain added revenue. All the investigation would do is to make some people--you, for instance--happy at the cost of 1) hard feelings on the part of the pople being investigated; 2) a distracted current board; and, 3) more expense for the ANA. From my outsider's vantage, the gain is not worth the cost. >>
You might have a point there, Mark. The old regime did some pretty stupid stuff (as everyone knows) and I know that it will take this new board at least a couple terms or more to straighten things up.
I sure wish the ANA would stop operating behind closed doors. There is no justification for any business conducted by the ANA to be secret.
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Their actions were all taken where the sun don't shine.
Camelot
<< <i>Does the ANA have to adhere to the sunshine law? are all of their documents available by a simple public records request? >>
I don't know if it's State by State or nationwide, but I sit on the board of a non-profit here in Texas and our records, meeting minutes, etc. in fact everything falls under the Sunshine Law. We regularly send out copies all the time. It's about 1% of our yearly budget, just for the associated costs to comply.
I sure do wonder what that 1 hour presentation was all about. You'd think they would have canned him before going through that.
OTOH, maybe it was his plea to retain his position.
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But that is based on Donn giving us a news release once a week of the humor kind, like we used to get from him in the Numismatist. I missed that.
But more seriously, I vote for a "weak" executive director one that shares with a co-executive director. One executive director should be financially/administrative and the other educationally and cultural executive director. Better checks and balances that the board can have on each other.
There was no way while he was on the old board to be able to speak out. I truly believe that.
Keep in mind that prejudging someone and then firing them based on "prejudging" them could lead to adverse financial consequences after firing someone. I believe the board acted very appropriately to show that they were open minded before firing CC since they were dealing with an extremely crafty attorney.
As for Cipoletti's separation payment, let him keep the budget surplus for his entire regime. That is what he deserves.
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<< <i>
<< <i>-- The association has paid about $400,000 in legal fees on the case, Stuppler said." --
I could not help but notice that, too. That comes to annual dues for about 10,000 members. An organization like the ANA should not be racking up a half million dollars in legal fees. >>
I was also surprised by this dollar amount.
Didn't wanna get me no trade
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<< <i>
<< <i>
<< <i>-- The association has paid about $400,000 in legal fees on the case, Stuppler said." --
I could not help but notice that, too. That comes to annual dues for about 10,000 members. An organization like the ANA should not be racking up a half million dollars in legal fees. >>
I was also surprised by this dollar amount. >>
They should drop the case now and end the financial foolishness. I believe this whole lawsuit thing revolved mainly around Cipoletti
and him getting back at people he didn't get along with.
<< <i>I'd still like for the ANA to show exactly where the monies for the legal defense fund (ACG) went exactly. >>
It still galls me that Jason Craton did not get a dime after the ANA used him in an appeal for donations.
Just so there's no confusion, I was involved in the Accugrade lawsuit too, but I'm a different Barry.
<< <i>Make one wonder ,what was served for dinner.
Sounds like Cipoletti was.
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<< <i>
<< <i>I'd still like for the ANA to show exactly where the monies for the legal defense fund (ACG) went exactly. >>
It still galls me that Jason Craton did not get a dime after the ANA used him in an appeal for donations. >>
That's who I was thinking of.....
If someone can find out if the ANA is subject to Public REcords Requests, I'll be more than happy to submit a request for various papers. When it comes time for our contract every 3 years, City Hall probably hates my guts for my record requests.
<< <i>I'd still like for the ANA to show exactly where the monies for the legal defense fund (ACG) went exactly. >>
Really. I've been asking this question for 3 years.Cipoletti basically ignored me when I requested the ANA's assistance during the lawsuit. Who benefitted from those donations?
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<< <i>
<< <i>
<< <i>-- The association has paid about $400,000 in legal fees on the case, Stuppler said." --
I could not help but notice that, too. That comes to annual dues for about 10,000 members. An organization like the ANA should not be racking up a half million dollars in legal fees. >>
I was also surprised by this dollar amount. >>
Just think how much it has cost the poor people who have been in the crosshairs of this foolishness for so long.