HomeMy WebLinkAbout03-18-19 WAF Min WESTLAKE ACADEMY FOUNDATION
Board Meeting
March 18,2019
Board Members in Attendance: Debbie Kraska, Sean Shope,Wendy Greenwood,Laura Luckett,Abu
Sieg,Karen Stoltenberg and Leah Rennhack
Others in Attendance: Debbie Piper,Amanda DeGan, Ginger Awtry, Kyle Clift-investment manager with
Morgan Stanley, Shelly Myers and Julie Kelly
I. D. Kraska called the meeting to order at 8:38AM.
11. Motion to approve minutes of February 11,2019 meeting by K. Stoltenberg, second by A. Sieg.
Motion carried.
III. Financial Report
• K. Clift circulated copies of Morgan Stanley's annual report of WAF investments. Reviewed
market volatility over the past two years,particularly in regard to last year's market
fluctuations.
• Discussed WAF funds' performance over past 12 months and criteria for investment choices.
• Reviewed Morgan Stanley's recommended sale of funds invested with Baird Core Plus bond
mutual fund and purchase of Prudential Total Return Bond mutual fund.
• Motion to approve recommended investment change by S. Shope, second by K. Stoltenberg.
Motion carried.
• S. Shope reviewed Financial Analysis with emphasis on large expenses such as Gallery Night
costs and payments made this month. The Foundation currently has over$2.3 million in
assets.
• L. Rennhack moved to approve Financials, second by A. Sieg. Motion carried and Financials
approved.
IV. Marketing Committee
• A. Sieg reported on Gallery Night social media campaign. The WAF Facebook page
currently has 542 followers, Twitter— 194 and Instagram—96. Since January,we have made
217 posts with 40,000+impressions.
• W. Greenwood solicited feedback on Gallery Night marketing, (e.g., sponsor pins).
• The next postcard will provide a Gallery Night recap,the new school bus and Blacksmith
Annual Fund statistics.
• The committee has also begun work on"gift in action"grant posters for upcoming VIP party.
V. Development Committee
• Blacksmith Annual Fund
o A. Sieg stated that BAF fundraising is currently at$1.063 million in gifts/pledges with
80%of all families and 77%of new families participating.
o Discussed solicitation strategies for remainder of the year.
• Gallery Night Report and Feedback
o D. Kraska reported that Gallery Night event feedback has been positive.
o S. Myers informed the board that nearly$8,200 remains to fully fund the bus and parking
pad requirements. Discussed funding the difference with WAF monies designated for
Academy grant funding.
o L. Rennhack moved to reallocate Grant funds of up to $8,200 to cover the remainder of
funding needed for the bus package, second by L. Luckett. Motion carried.
• VIP Party Update
o L. Luckett stated that committee is still researching locations for party,with the Vaquero
ranch house and Marriott Solana as possibilities. Proposed date is May 2"d
VI. President's Report
• None
VII. Executive Director's Report
• None
Other Business
None
K. Stoltenberg moved to adjourn the Board meeting, second by L. Luckett. Motion carried. Meeting
adjourned at 10:26AM.
Next Meeting: Monday,April 15,2019 at 8:30 AM, Town Hall of the Town of Westlake