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