HomeMy WebLinkAbout12-16-19 WAF Min WESTLAKE ACADEMY FOUNDATION
Board Meeting
December 16,2019
Board Members in Attendance: Christine Ross,Debbie Kraska,Ahu Sieg,Wendy Greenwood,Karen
Stoltenberg, Sean Shope,Laura Luckett,Meghan Dorf,Mike Colby and Leigh Sansone
Others in Attendance: Noah Simon,Marlene Rutledge,John DeBurro(auditor), Shelly Myers and Julie
Kelly
I. C. Ross called the meeting to order at 8:30AM.
11. Motion to approve minutes of November 18,2019 meeting by D. Kraska, second by S. Shope.
Motion carried.
111. Financial Report
• John DeBurro,Engagement Partner,Assurance Services with Weaver&Tidwell,LLP,
presented details of FYI audit,which resulted in an"unmodified opinion"that the
Foundation had no significant deficiencies or material weaknesses.
• Request was made to include an organizational chart showing the Foundation's relationship
with the Town and Academy in next year's audit.
• S. Shope presented Financial Analysis of monthly activity ending November 30,2019.
Notably, $558,507.87 was transferred to the Academy for Blacksmith Annual Fund and a
$10,000 anonymous gift was received for the Performing Arts program. The Foundation
served as pass-through for donation.
• S. Shope confirmed that all Endowment monies have been transferred to RBC from Morgan
Stanley. Investment Committee will meet to review.
• Request was made to add a column to Statement of Activities to display prior year
comparison for budget progress.Also requested that Fund an Item be separated from
Westlake Baja FY20 budget revenue and the five Legacy Teacher Fund initiatives be listed
individually.
• M. Colby moved to approve Financials, second by L. Sansone. Motion carried,and
Financials approved.
IV. Grants Committee
• No report.
V. Marketing Committee
• W. Greenwood reported that Legacy Teacher Fund gift cards were created and printed for
distribution to Academy staff prior to Thanksgiving and Winter breaks. Postcard samples
were shared with Board.
• Committee is currently creating"thank you"bi-fold notecards featuring teachers that can be
used to keep donors connected to projects they have funded.
• Gallery Night will be the next focus of Marketing efforts.
VI. Development Initiatives
• Blacksmith Annual Fund
o A. Sieg reported BAF total raised is over$1,013,000 with 75%families participating.
o Discussed strategy to increase participation among the 135 non-donor families,possibly
with a Board of Trustees challenge grant.
o End of year tax deduction will be promoted.
o Board to write thank you notes to be included in BAF letters in January and completed for
mid-January mailing.
• Westlake Baja
o S. Myers reported that Academy administration is currently working on a schedule to
increase stipends for club advisors and athletic coaches per Legacy Teacher Fund,
Initiative#2.
• Gallery Night
o Event will take place on February 29,2020 at Texas Motor Speedway.
o Sponsor forms will be available after 1/l/20.
o L. Luckett asked Board to begin soliciting donations for live and silent auctions.
o Committee is currently investigating online auction providers.
VII. President's Report
• C. Ross extended her appreciation for attendance at the Foundation's successful All Directors
reunion cocktail party.
VIII. Executive Director's Report
• S. Myers stated that information will be emailed to Board Directors for BAF thank you note
writing over Winter break.
Other Business
None
A. Sieg moved to adjourn the Board meeting, second by L. Sansone. Motion carried. Meeting adjourned
at 9:49AM.
Next Meeting: Monday,January 13,2020 at 8:30 AM,Town Hall of the Town of Westlake