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HomeMy WebLinkAbout10-12-12 WAF Min WESTLAKE ACADEMY FOUNDATION Board Meeting October 12, 2012 Board Members in Attendance: Charlotte Ryan,Kelly Cox, Sean Shope,Ken Gordon,Jeff Watson, Rebecca Neidich,Zan Jones,April Gallagher,Andy Sedino,Karen Stoltenberg,Bill Greenwood. Staff in Attendance: Shelly Myers. Guests in Attendance:None. I. K. Cox called the meeting to order at 8:32 AM. II. No Superintendent's Report. III. Motion to approve minutes of September 14, 2012 meeting by C. Ryan, second by A. Sedino. Motion carried. IV. Financial Report • Reviewed draft of WAF budget with forecasted revenue, expenses, and amount available for granting. • S. Shope reported the notable milestone that the endowment has topped$1 million at$1,020,940. • Motion to approve financial report by K. Gordon, second by A. Gallagher. Motion carried. V. Development Committee Report • Blacksmith Annual Fund • Currently at $342,080 (40% goal) with 25% parent participation. Campaign progress signs posted for primary and secondary carline viewing. • Volunteer grade captains will email and call outstanding families. • K. Stoltenberg making thank you calls as gifts received. WAF Board agreed to make calls,too. • Westlake Baja • R. Scott volunteered to continue as event chair, expressing his appreciation of the WAF Board for its ongoing support. • Great marketing opportunities will be available with the event's new format and with 2013 being the 5t''anniversary. • Gross proceeds estimated at$187,250; expenses are expected to come in under budget. VI. Marketing Committee • The Baja received nice coverage in area newspapers and Society Life. • Production of the Year-in-Review piece hit a delay; a late October mailing is anticipated. • The Foundation's revamped website has launched. Our sincere thanks to senior Henry Leatham for taking the interest and initiative on this project. K. Gordon suggested including the purpose of each fundraising initiative on the website. • Weekly eBlasts for the October-long Blacksmith campaign are underway. VII. Investment Committee • S. Myers shared quarterly report from Shamrock,noting last quarter return of 3.6%;YTD=5.4%. • The committee will work to finalize regulations regarding endowment funds. VIII. Administrative Committee • K. Gordon reported progress on updating regulations. Z. Jones provided language regarding use of WAF name and logo that will be included in the next amendment proposed to the Board. • Requested that each committee formulate guidelines for their work. • K. Gordon made the following motion: that Sean Shope, Shelly Myers, Kelly Cox, and Debbie Piper are authorized to endorse checks and orders for the payment of money or otherwise withdraw or transfer funds on deposit with First Financial Bank, N.A. Southlake. The motion was seconded by A. Gallagher. Motion carried. IX. Grants Committee • No applications submitted for consideration. • S. Myers reported Dr. Clint Calzini's remarks regarding the impact of the new teachers hired at the London International Recruitment Fair. The seven new faculty members are doing well in the classrooms, engaging with students and after-school activities, and have been contributing to improvements in their departments. • Awaiting report from school leadership regarding impact of all-school grants made in 2011-12. X. President's Report • K. Cox reported that she and S. Myers met with Tom Brymer, Rod Harding, Clint Calzini and Ben Nibarger about the School's budget and needs from the WAF. The principal outcome of meeting with school leadership regarded the need for the school to determine one, total amount to be funded by the WAF and to prioritize its funding needs. • School leadership is working to prioritize its budget requests and will advise WAF. • We need to communicate to parents that the school actually needs the Foundation to provide $1,020,000 (i.e., $720,000 BAF, plus $300,000 WAF grant) for school operations to help families understand the importance of participating and contributing as fully as possible. There is a concern, however,with changing the goal of the Blacksmith Annual Fund at this late date. Other Business • A. Sedino shared idea to create a "Black Cow" image showing what the BAF supports; Velcro pieces could cover the sections as money is raised. Proposed that the first grade to reach 100% participation would win a Rudy's BBQ Party. • BAF messaging can be further enhanced with parent education regarding dollars per day received from the state, i.e., "is your child worth $x/day?" Also, message simplifying gift amount on daily/monthly budget would be helpful. • K. Gordon asked what other revenue sources could be explored. • J. Watson reported that Paper City would like to support Academy and Foundation events. Next Meeting: November 9, 2012—8:30 AM in the Arts& Sciences conference room. B. Greenwood moved to adjourn the Board meeting. Second by A. Sedino. Motion carried. Meeting was adjourned at 10:45 AM.