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Home My WebLink About05-09-16 WAF MinWESTLAKE ACADEMY FOUNDATION Board Meeting May 9, 2016 Board Members in Attendance: Andy Grieser, Zan Jones, Sean Shope, Jeff Watson, Deanna Titzler, Wendy Greenwood, Debbie Kraska, Karen Stoltenberg, Andy Sedino, Kevin Hansen, Adam Smith and Leah Rennhack Others in Attendance: Shelly Myers, Cord Adams with Shamrock Asset Management, Julie Kelly I. K. Stoltenberg called the meeting to order at 8:32 AM. II. Motion to approve minutes of April 18, 2016 meeting by D. Kraska, second by A. Grieser. Motion carried. III. Financial Report • S. Shope reviewed Financial Report for April 30, 2016. • Reviewed Financial Analysis, administrative expenses, and Accrued WAF Grants to the Academy totaling $14,968.00 for the month. • Blacksmith Annual Fund year to date actuals total $863,470. • Motion to approve Financials by A. Sedino, second by K. Hansen. Motion carried. IV. Investment Committee • K. Hansen introduced Cord Adams of Shamrock Asset Management, investment manager of the WAF Endowment. • C. Adams reviewed the current “middle-aggressive” portfolio and progress made over the last year. Recent market changes temporarily had our portfolio out of compliance with our Investment Policy. • The Board was not in favor of adjusting investment policy at this time, so Mr. Adams was directed to bring holdings back in line with policy. • Plan made to discuss Investment Policy at June WAF Board meeting. V. Development Committee • Blacksmith Annual Fund o K. Stoltenberg and S. Myers reported that targeted letters have been mailed and follow-up phone calls made to 128 non-donor families. o The Town of Westlake is currently working on the 2016-17 budget, and will need a BAF recommended amount soon. • Run the Ranch o S. Shope reported that fundraising via sponsorships was down this year, but that participation was solid. o If Run the Ranch continues as a WAF event, a stipulation will be made that no livestock can be present in the vicinity of the race trail. • Gallery Night o S. Myers reported on Gallery Night volunteer appreciation lunch that was held last week. Several options for cutting the event budget were discussed at the luncheon. VI. Marketing Committee • Z. Jones reported on plans for summer mailings/post card. VII. Grant Review • S. Myers presented Recruitment and Retention of Legacy teachers request for $25,500.00. Motion to fully fund grant by J. Watson, second by D. Kraska. Grant approved for up to $25,500.00. • S. Myers presented Athletic Facilities request for $20,250 for bleachers, viewing tower and basketball shooting system. Motion to approve grants totaling $16,750 ($9,250 for bleachers and $7,500 for viewing tower) by A. Smith, second by A. Sedino. Grant approved for up to $16,750.00. • S. Myers presented iPadpalooza grant request for $6,300 to send 7 teachers to conference. Motion to fully fund grant by A. Smith, second by D. Titzler. Grant approved for up to $6,300.00. Z. Jones noted that if teachers were to register early, they would save cost on registration fee. • S. Myers presented International Mindedness Education Symposium (IMES 2016) grant to support event expenses and 3 keynote speakers for a total of $5,550. Motion to fully fund grant by L. Rennhack, second by A. Greiser and Z. Jones. Grant approved for up to $5,550.00. VIII. Nominating Committee • K. Stoltenberg presented slate of Board officers for 2016-17. o Nominating committee recommended Debbie Kraska for President, Leah Rennhack for Vice-President, Sean Shope for Treasurer, and Adam Smith for Secretary. o Motion to approve slate by K. Hansen, second by A. Sedino. Motion carried. • Presentation of Christine Ross’s application for appointment as WAF Board member. o Motion to approve application of C. Ross to Board by L. Rennhack, second by D. Kraska. Motion carried unanimously. • A. Greiser will be rotating off of WAF Board at the end of his term next month. IX. President’s Report • Recommendation to move June meeting to 6/6/16 to accommodate schedules. • Requested suggestions for meeting days beginning in the fall. X. Executive Director’s Report • S. Myers reported that Bradley Travel Grants were awarded to 5 students to participate on international and class trips this year. Other Business • D. Kraska thanked A. Sedino for providing the location for this year’s VIP party on May 21st. Next Meeting: Monday, June 6, 2016 at 8:30 AM, Lee Field House Conference Room, WA S. Shope moved to adjourn the Board meeting, second by A. Sedino. Motion carried. Meeting adjourned at 10:46AM.