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HomeMy WebLinkAbout11-16-16 WAF Min WESTLAKE ACADEMY FOUNDATION Board Meeting November 16, 2016 Board Members in Attendance: Andy Sedino, Kevin Hansen, Debbie Kraska, Laura Luckett, Karen Stoltenberg, Leah Rennhack, Christine Ross, Wendy Greenwood, Zan Jones and Sean Shope Others in Attendance: Shelly Myers, Julie Kelly and Kevin and Kyle Clift from Morgan Stanley Wealth Management Consulting Group I. D. Kraska called the meeting to order at 8:35AM. II. Motion to approve minutes of October 19, 2016 meeting by A. Sedino, second by K. Hansen. Motion carried. III. Academy Update  Tabled until future Board meeting. IV. Financial Report  S. Shope reviewed Financial Analysis for October 31, 2016, including $2,100.00 expense for Gallery Night Artist- in-Residence program.  Statement of Activities reflects difference in Baja budget vs. actuals with approximately $44,000 in receivables expected by year end.  Regarding Blacksmith Annual Fund, the proceeds check for Giving Day donations is expected to arrive next week.  Motion to approve financials by K. Hansen, second by A. Sedino. Motion carried. V. Investment Committee  K. Hansen introduced Kevin and Kyle Clift with Morgan Stanley Wealth Management Consulting Group. The Clift Team presented their proposal to manage the Foundation’s endowment funds. They’ve previously managed Carroll ISD educational foundation’s endowment fund, and are currently with Grapevine-Colleyville ISD, Celina ISD and funds for other non-profit organizations.  Discussed long-term gifting and planned gifts.  Motion to approve moving endowment fund management from Shamrock Asset Management to Morgan Stanley/The Clift Team by K. Hansen, second by A. Sedino. Motion carried. VI. Development Committee  Blacksmith Annual Fund o K. Stoltenberg and C. Ross reported that BAF goal of $1 million has been reached. This total includes gifts from corporate matches and non-parent donors. Campaign amount will be shared after holiday break. o Grade captains are currently making calls to families that have not yet donated. o Will use Simply Westlake magazine and banners on campus to communicate names of donors and percent participation by grade.  Stagecoach Preserves – 5K run offer o S. Myers reported on offer from Stephen Thornton to host a 5K run/walk on his property in Stagecoach Hills. o Board appreciated the opportunity, but decided that it would be better to passing on the opportunity to another group as runs have not been profitable for the Foundation. VII. Marketing Committee  Z. Jones reported that WA tote bags have been sent to BAF donors as thank you gifts.  W. Greenwood discussed November postcard that will include save the date for Gallery Night and BAF “Thanks- for-giving.” VIII. Grant Review  S. Myers presented Brain-Based Learning Conference grant request. Motion to approve funding of grant up to full amount of $4,175 by K. Hansen, second by K. Stoltenberg. Grant approved.  S. Myers presented National Art Educator’s Conference grant request. Motion to approve funding of grant up to full amount of $2,889 by K. Stoltenberg, second by C. Ross. Grant approved. IX. President’s Report  D. Kraska discussed BAF and marketing successes and that Gallery Night planning is beginning with volunteer committee meetings. X. Executive Director’s Report  S. Myers reported that L. Luckett will chair new alumni committee and potential new athletic event with alumni and current high school students.  S. Myers met with WAHOC board to discuss grant funding coordination. HOC will contribute up to $200/teacher for professional development grant requests.  Discussed funding possibilities for “21st century library” or second phase of outdoor learning project. Other Business  none Next Meeting: Wednesday, December 14, 2016 at 8:30 AM, Lee Fieldhouse, WA A. Sedino moved to adjourn the Board meeting, second by K. Hansen. Motion carried. Meeting adjourned at 10:34AM.