HomeMy WebLinkAbout08-26-19 WAF Min WESTLAKE ACADEMY FOUNDATION
Board Meeting
August 26,2019
Board Members in Attendance: Debbie Kraska, Christine Ross,Wendy Greenwood,Ahu Sieg, Laura
Luckett,Michael Colby, Sean Shope,Megan Dorr, Leigh Sansone,Zan Jones
Others in Attendance: Mechelle Bryson,Debbie Piper,Amanda DeGan,Noah Simon, Kyle Clift,Kevin
Clift and Julie Kelly
I. C. Ross called the meeting to order at 8:29AM.
II. Motion to approve minutes of June 10, 2019 meeting by W. Greenwood, second by L. Luckett.
Motion carried.
111. Financial Report
• S. Shope presented financial reports as of July 31, 2019, and provided overview of activities.
• Statement of Activities discussed with highlight on continued Gallery Night collections.
• Current financial position of the Foundation includes $2,599,552 in total liabilities and net
assets.
• M. Colby moved to approve Financials, second by D.Kraska. Motion carried, and Financials
approved.
• Kyle Clift,with RBC Wealth Management,presented Endowment Management position.
• The Clift Group has moved to RBC from Morgan Stanley,but WAY endowment funds are
still currently at Morgan Stanley.
• M. Colby moved to approve transfer of the Foundation's Endowment funds from Morgan
Stanley to RBC for continued management, second by L. Sansone. Motion carried.
• K. Clift reported that the Total Assets of the Foundation's Endowment Fund were currently
$1,852,650. His recommendation was to sell assets currently invested in Ivy International and
Nuveen Small Cap Value and to buy Vanguard International Value and Undiscovered
Managers Value,respectively, as both were better performing funds.
• Investment Committee members are Michael Colby,Leigh Sansone, Christine Ross and Sean
Shope.
IV. Marketing Committee
• W. Greenwood reported positive responses to the recently mailed FY19 Year in Review.
• Committee planning to pair pictures of current students holding"What I Want to Be" signs
with WA alumni holding"I'm studying..."or"I'm working as..." signs.
• C. Ross reported that end-of-summer alumni mixer earlier this month was successful and
well-attended.
• D. Kraska discussed Back to School events, in which she presented WAF role and activities
with new families who attended.
V. Development Initiatives
• Blacksmith Annual Fund
o A. Sieg reported that North Texas Giving Day will be 9/19/19.A kick-off get-together
with the volunteer Grade Captains is being planned to discuss ways that they can promote
Giving Day participation.
o W. Greenwood requested ideas for a visual to be used in marketing BAF and Giving Day.
It was decided to market Giving Day as "Blacksmith Giving Day"to support the effort to
raise as much of the $1,030,000 BAF goal as possible on this one day.
o D. Kraska provided the gift chart for donors, and displayed a few of the gift items,
including a logoed umbrella and a drinking straw kit.
• Westlake Baja
o Discussed the possibility of changing the event date to the Spring. Group consensus was to
keep the event in the fall.
o M. Colby and L. Sansone will chair the event again and work to secure date.
VI. President's Report
• No report
VII. Executive Director's Report
• No report.
Other Business
None
D. Kraska moved to adjourn the Board meeting, second by M. Colby. Motion carried. Meeting adjourned
at 10:07AM.
Next Meeting: Monday, September 16,2019 at 8:30 AM, Town Hall of the Town of Westlake