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HomeMy WebLinkAbout05-17-17 WAF MinWESTLAKE ACADEMY FOUNDATION Board Meeting May 17, 2017 Board Members in Attendance: Adam Smith, Wendy Greenwood, Deanna Titzler, Sean Shope, Laura Luckett, Christine Ross, Jeff Watson, Debbie Kraska, Kevin Hansen, Leah Rennhack, Karen Stoltenberg Others in Attendance: Shelly Myers, Julie Kelly and Kyle Clift, Kevin Clift from Morgan Stanley Wealth Management I. D. Kraska called the meeting to order at 8:41AM. II. Motion to approve minutes of April 19, 2017 meeting by A. Smith, second by S. Shope. Motion carried. III. Financial Report  S. Shope presented Financial Report for period ending April 30, 2017. Financial Analysis explained overall expenses and revenues for the period.  Financial Position showed Total Assets in the amount of $2,123,332.  To date, the Foundation has transferred $997,311 to the Academy through the Blacksmith Annual Fund campaign  Motion to approve financial report by K. Hansen, second by L. Rennhack. Motion carried. IV. Investment Committee  Kevin Clift and Kyle Clift, Morgan Stanley Wealth Management, presented proposed new Investment Policy Statement and Account Review.  Discussed changes to new policy to include decrease in required cash holdings to allow more flexibility during market changes.  Reviewed Account as of 5/15/2017, which has been diversified between bonds, short duration mutual funds and core equity funds. Year to Date performance stands at +3.34%.  Will meet quarterly with Investment Committee and annually or as needed with entire Board.  Motion to accept new Investment Policy Statement by K. Stoltenberg, second by K. Hansen. New policy accepted. V. Marketing Committee  W. Greenwood discussed Marketing committee projects, including ne xt postcard mailing and creating posters to promote WAF grants that will be displayed at upcoming VIP party. Also working on capturing film with videographer, Jerome Butler, to assist future marketing efforts.  D. Titzler reported on creation of video thanking sponsors and donors that will be shown on loop at the VIP party.  Discussed methods to improve marketing of grant-funded efforts by the WAF. Possible ideas include labels or signs for larger ite ms, such as the Sports Tower, informing teachers of all WAF funded grants at monthly Professional Development meetings, and having WAF Board members personally deliver grant-funded items to classrooms/students. VI. Development Committee  VIP Thank You Party will be held Friday, May 19, 2017 at the Marriott Solana from 6-9pm. Event will include hors d’oeuvres, beer/wine/soda, cigar rolling, c aricature artist, rock painting, and whiskey tasting.  Expenses will exceed budget by approx. $1,500 due to food and beverage charges. Discussed possible need to increase budget and promote the party more as a benefit to sponsors.  Discussed possibility of a WAF Board member chairing the event moving forward. VII. Grant Review  S. Myers presented “Fountas and Pinnell: Create Your Vision Training” grant request in the amount of $5,000. Motion to approve funding of grant up to full amount by K. Stoltenberg, second by D. Titzler. Grant approved.  S. Myers presented “Recruitment and Retention/Legacy Teachers ” grant request in the amount of $15,000 for Recruitment and $12,000 for Retention. Question asked if Retention grants are used as “merit pay.” Clarification needed on amount of total for Recruitment as there is a discrepancy between Total grant request amount and Expense Description amounts. Motion to approve funding of grant up to $25,000 requested by A. Smith, second by K. Stoltenberg. Grant approved. VIII. President’s Report  No report IX. Executive Director’s Report  S. Myers reported that signage listing G12 parents who gave BAF donations will be displayed at Senior Awards Ceremony and Senior Banquet. Personalized Jefferson Cups with be pre sented to each senior at upcoming Awards ceremony.  Working with Principals to create a “thank you” video for the Hudson Foundation.  Reported on status of BAF new donors matching campaign. Other Business  none A. Smith moved to adjourn the Board meeting, second by L. Rennhack. Motion carried. Meeting adjourned at 10:15 AM. Next Meeting: Wednesday, June 7 , 2017 at 8:30 AM, Lee Fieldhouse, WA