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HomeMy WebLinkAbout09-16-11 WAF Min WESTLAKE ACADEMY FOUNDATION Board Meeting September 16, 2011 Attending: April Gallagher,Charlotte, Ryan,Ken Gordon,Kelly Cox, Rob Scott,Kevin Hansen,Leah Rennhack, Zan Jones, Shelly Myers, and guests Amanda DeGan,Debbie Piper, and Maru Busico-Flight. I. K. Cox called the meeting to order at 8:40 AM and welcomed new Board member,Ken Gordon. II. Superintendent's Report • On behalf of Tom Brymer, A. DeGan shared the positive start to school year; WA opened with 620 students. Portables have been well-received by students and teachers. • The school acquired land from Hillwood(2 acres) and Mrs. Margaret Lee(1 acre)for future use. • The Board of Trustees is extremely appreciative of the WAF for the recent$216,000 grant. • The Communities Foundation of Texas has a matching gift program via"DonorBridge.com"that could help leverage additional funds for WAF campaigns. III. Motion to approve Minutes of August 12, 2011 meeting by C. Ryan, second by A. Gallagher. Minutes approved as submitted. IV. Financial Report • D. Piper reported that Fund100 decreased by approx. $24,000 with recent grant awards. Current assets stand at$1,082,318. • Motion to approve by C. Ryan, second by A. Gallagher. Financials approved as submitted. V. Fund 100 Grant Recipient Report • Mrs. Maru Busico-Flight, Educational IT teacher, shared her experiences as one of 62 U.S. and Canadian teachers who went on 10-day, TIBS-sponsored "Inquiry into China" trip, which included visits to a private 113 school in Beijing and public school in Shanghai. Mrs. Busico-Flight shared the similarities and differences between Chinese and WA classrooms. VI. Investment Committee • K. Hansen discussed the interview process undertaken to select Shamrock Asset Management to manage the endowment funds. • R. Scott requested that the Investment Policy Statement (IPS) change "corporation" to "Foundation," and add to the variance guidelines that if an investment falls outside of the guidelines, there is an "exception process"to bring the issue to the Board for approval without having to re-approve the IPS. • K. Gordon inquired about the asset mix and alternative assets. The current goal is to build and reinvest income interest as we work toward our$5 million goal. • Motion to approve the IPS, subject to revisions, and the retention of Shamrock Asset Management as endowment investment manager by R. Scott, second by A. Gallagher. Motion approved. VII. Programs&Allocations Committee • S. Myers presented this month's grant requests: • Individual Investigation Method Trainer Institute: Professional development for PYP educator to become certified in teaching students to conduct investigative research. Motion to approve by C. Ryan, second by L. Rennhack. Approved for$2,145.00. • National Council of Teachers of English Conference: Professional development for an MYP and DP teacher. Motion to approve by K. Hansen, second by C. Ryan.Approved for$3,420.00. o Science Department Equipment: To support lab experiments in Biology, Chemistry and Physics. Motion to approve by A. Gallagher, second by Z. Jones. Approved for$9,369.00. VIII. Nomination Committee • Sean Shope's application was reviewed and presented for service. L. Rennhack moved to approve the nomination of S. Shope; second by A. Gallagher. Motion passed unanimously. IX. Marketing Committee • Z. Jones reported that a monthly Constant Contact email would be sent the week after Board meetings. • Regular website updates and info in Town's Westlake Wire presents great opportunity to update parents, especially new families. Hope to have website launched by Sept. 21. • R. Scott commented that Baja marketing has been excellent. "Favorite Teacher" videos and Facebook activity in general has been well received. WAF fan base has significantly increased. X. Development Committee • R. Scott reported that Baja sponsorships stand at $62,500; working to secure additional sponsors and donors. Addition of tennis and women's golf has been well-received. • C. Ryan reported on grant activity and efforts to identify foundations that provide operating support. Currently working to collect statistics from school personnel for use in applications. • K. Gordon suggested surveying the Board of Trustees and affiliate boards for business contacts as potential grant prospects. XI. President's Report • Planning a Board mixer to thank previous members and welcome new directors. • Directors asked to help recruit new Board and committee members to share the work and help us grow. • Meeting with Tom Brymer to discuss sharing administrative support to assist the WAF office. • Requested feedback for the Executive Director annual review. XII. Executive Director Report • No report. XIII. Other business • The Board was asked to consider providing a grant to offset prom expenses. After much discussion, such an activity was deemed outside the Foundation's grant guidelines. XI. Next Meeting: October 14,2011—8:30 AM in the Arts & Sciences conference room. XII. C. Ryan moved to adjourn the Board meeting at 10:45 AM. Second by L. Rennhack. Motion carried.