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HomeMy WebLinkAboutWAF 04-19-21 MinWESTLAKE ACADEMY FOUNDATION Board Meeting April 19, 2021 Board Members in Attendance: Sean Shope, Ahu Sieg, Michael Colby, Meghan Dorr, Laura Luckett, Debbie Kraska, Rob Anderson, Lindsay McGrath, Christine Ross and Wendy Greenwood Others in Attendance: Todd Wood, Marlene Rutledge, Ginger Awtry, Shelly Myers, Mechelle Bryson and Julie Kelly I. C. Ross called the meeting to order at 8:33AM. Meeting took place via remote call due to pandemic and requirement for social distancing. II. Motion to approve minutes of March 22, 2021 meeting by A. Sieg, second by S.Shope. Motion carried. III. Financial Report ● S. Shope presented financial report as of March 31, 2021. Notable activity over the last month included Gallery Night (GN) Sponsor revenue of $ 43,920.31 and Gallery Night entertainment expenses. ● Blacksmith Annual Fund is still receiving revenue; last month’s total was $25,846.59. ● Current assets of the Foundation total $2.944M. ● Financial statement of activities reflected light spending overall last month, aside from GN expenses. ● M. Rutledge explained that for Legacy Teacher Fund initiatives, Teacher of the Year expenses and Athletic/Club Advisor stipend expenses will transfer from the Foundation to the Academy near the end of the fiscal year. The gift cards were purchased by the Foundation and distributed directly, so those expenses will not be included in the year-end reimbursement transfer. ● Motion to approve financials by M. Colby, second by M. Dorr. Motion carried. IV. Marketing Committee ● W. Greenwood reviewed recent Marketing activities. Main area of focus last month was Gallery Night promotion and donor/sponsor recognition. Foundation website was updated with most recent Grants made to the Academy as well as list GN sponsors to date. V. Development ● Blacksmith Annual Fund o A. Sieg reported that BAF is currently at $ 1.005M pledged/received with 70% parent participation and 54% new families. o Phonathon and/or direct emails will be employed to attempt to increase participation from non- donor families. ● Gallery Night o L. Luckett reported that feedback about event has been tremendously positive, especially for the new venue and silent and live auctions. o Fund an Item raised $ 12,600 of the $ 75,000 goal. Discussed possibility of the Academy leadership creating a “wish list” of needed/desired items. Possible items could accompany a capital campaign. M. Bryson stated that she will meet in early June with leadership team to discuss and will reconvene with Foundation in July regarding results. Board requested that Wish List be a “living document” this is continuously reviewed, added to and updated. o L. Luckett reported total sponsorships amount was increased over last year to $126,700. ● Westlake Baja o S. Myers presented issue of how to handle taxes associated with the Teacher of the Year awards. The Board discussed if awards should be “grossed up” with the Foundation covering the award plus taxes, or should the awards be net amounts with income tax withheld. o Motion to create a new policy of the Foundation that for all similar awards, amounts will be net of tax withholding when awarded in employee’s paychecks by M. Colby, second by L. Luckett. Motion carried. VI. Grants Committee ● S. Myers presented grant for the PYP PE teachers to rent inflatable obstacle course for PYP Team Building event. ● Motion to approve grant up to the amount requested of $ 293.00 by M. Colby, second by S. Shope. Motion carried. ● Discussed possibility of requests under $500, up to a monthly aggregate total of no more than $1,500, to bypass Board voting, and only require Board President and Executive Director approval. S. Shope to research this option. ● Motion to approve this change, pending research results, by M. Colby, second by S. Shope. Motion carried. ● M. Bryson expressed appreciation for technology applications funded by Foundation grants this school year, all of which have been added to the Academy budget for next year. VII. President’s Report ● C. Ross expressed gratitude to the Board members and excitement over the success of the Gallery Night auction, which was almost entirely online. VIII. Executive Director’s Report ● S. Myers thanked Board members for participating in Gallery Night. Discussed planning a meeting in June. She will send out possible dates for consensus. Other Business  None D. Kraska moved to adjourn the Board meeting, second by M. Colby. Motion carried. Meeting adjourned at 9:48M. Next Meeting: Monday, May 17, 2021 at 8:30 AM, at Town of Westlake office