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HomeMy WebLinkAboutWAF 05-19-22 Min WESTLAKE ACADEMY FOUNDATION Board Meeting May 19, 2022 Board Members in Attendance: Rob Anderson, Meghan Dorr, Heather Kilgore, Mike Colby, Rob Fitzgerald, Patty Pinsonnault, Ahu Primeaux and Tiffany Hernandez Others in Attendance: Marlene Rutledge, Sean Wilson, Shelly Myers and Julie Kelly I. M. Dorr called the meeting to order at 8:32AM at Town Hall of the Town of Westlake. She introduced and welcomed newly hired Executive Director of Westlake Academy, Sean Wilson. II. Approval of Minutes During review of the Minutes from April 18 meeting, R. Anderson questioned the Public Art Fund pass-through project; his opposition to the resolution that was approved was noted. The Board discussed the possibility of the Town creating a separate 501(c)(3) strictly for Town of Westlake business, while the WA Foundation would handle Academy business only. This would require an amendment to the articles of incorporation. R. Fitzgerald to draft recommendation to that effect for Board to review. Motion to approve minutes of April 18, 2022 meeting by M. Colby, second by R. Fitzgerald. Motion carried. III. Financial Report M. Rutledge presented financial report as of April 30, 2022. Notable activities over the last month included loss of value to Endowment Accounts of $5,522 and received revenue for Blacksmith Annual Fund totaling $10,503. Total Assets of the Foundation were $2.956m as of April 30. Total Revenue to date for Blacksmith Annual Fund stands at $1,145,946. Budgeted revenue amount for FY22 is $1,030,000. Reviewed possibly pulling out External Donor Gifts as separate line in the Statement of Activities for further clarification. Discussed need to plan for potential downturn in donations over the next year. Motion to approve financials by D. Kraska, second by M. Colby. Motion carried. IV. Development Committee Gallery Night o P. Pinsonnault informed Board that Gallery Night was a success with revenue of $242,821. o S. Myers shared comparison of Revenue vs Expenses over last 5 years. A. Sieg reported that BAF campaign has $1.2M in gifts and pledges, with 77% of families participating and 72% of new families. o Discussed strategy for addressing non-donors and planning for next yearÓs campaign messaging over the summer. Westlake Baja o No update at this time for next yearÓs event. o S. Myers presented idea for combining Gallery Night and Baja events and possibility of looking for another venue and time of year. o Discussed possibility of increasing Legacy Teacher Fund Î Coach/Club Advisor stipend supplement amount. S. Myers will provide options to discuss at next meeting. V. Foundation Business S. Myers reviewed importance of having a pipeline of prospective new board directors to fill seats when existing Directors roll off. Encouraged Directors to brainstorm director candidates. S. Myers presented sample of Alumni gift, an engraved pewter Jefferson cup, given to WA graduates. Board agreed to continue this tradition. Discussed meeting over the summer, and Board determined that topics such as combining Gallery Night and Baja, increasing Stipend supplements and improving WA staff salaries were all important topics to cover in a June meeting. Reviewed possibility of hosting a recognition breakfast/brunch for VIP donors and sponsors. VI. Marketing Committee S. Myers presented Marketing Materials samples over the time period of March-May 2022. Year in Review will be focus of marketing work this summer as well as creating a piece for teachers/faculty presenting all of the activities that the WAF is responsible for at WA. VII. Grant Request S. Myers presented Uniform Replacement bridge grant. Motion to approve grant for up to requested amount of $19,708 by M. Colby, second by R. Fitzgerald. Motion carried and grant approved. M. Rutledge presented the most recent Grant Schedule. No new additions, but she will reach out to grant recipients to let them know their remaining balances for remainder of this school year. VIII. Executive Director No report Other Business none H. Kilgore moved to adjourn the Board meeting, second by R. Fitzgerald. Motion carried. Meeting adjourned at 9:58AM. Next Meeting: Thursday, June 16, 2022 at 8:30 AM, at Town of Westlake Town Hall