HomeMy WebLinkAboutWAF 09.15.22 MinWESTLAKE ACADEMY FOUNDATION
Board Meeting
September 15, 2022
Board Members in Attendance: Meghan Dorr, Lilly Jimenez, Patty Pinsonnault, Rob Fitzgerald, Sharan
Sankaranarayanan, Sean Shope, Christine Ross, Heather Kilgore, Ahu Primeaux and Debbie Kraska (via phone)
Others in Attendance: Kevin Clift and Kyle Clift from RBC Wealth Management, Sean Wilson, Amber
Karkauskas, Sean Kilbride, Shelly Myers and Julie Kelly
I. C. Ross called the meeting to order at 8:35AM at the Council Chambers at Westlake Town Hall.
II. C. Ross introduced New Directors, L. Jimenez and S. Sankaranarayanan, and welcomed them to the
Foundation Board.
III. Motion to approve minutes of August 18, 2022 meeting by M. Dorr, second by H. Kilgore. Motion
carried.
IV. Foundation Business
• Annual photo of the Board of Directors and staff was taken.
• New WAF Mission Statement tabled until new WA Mission approved by Town Council.
V. Financial Report
● A. Karkauskas presented Financial Report as preliminary statements given that Finance team is
currently focused on this year’s external audit.
● Financial Report approval tabled until after audit.
● Kevin Clift and Kyle Clift, with RBC Wealth Management, presented Annual Investment Report and
Portfolio Review
● Discussed struggling markets and down year for investments.
● Reviewed current Asset Allocation and recommendation to move funds to decrease fees and expenses
and improve performance. Per S. Shope, Investment Committee recommends the changes.
● Motion to rebalance current cash amounts and accept Investment Committee recommendations by R.
Fitzgerald, second by P. Pinsonnault and S. Sankaranarayanan. Motion carried and changes will be
made by RBC.
VI. Grants Review
● S. Myers presented “Pout Pout Fish Performance” grant for $3,500. Motion to approve grant up to
requested amount by A. Primeaux, second by P. Pinsonnault. Motion carried and grant approved.
● S. Myers presented “Malmo University Student Teacher Visit” grant for $530. Motion to approve
grant up to requested amount by P. Pinsonnault, second by L. Jimenez. Motion carried and grant
approved.
● Discussed option of going over budgeted $75,000 grant amount for the year.
● Tabled “ThoughtExchange” and “The Artist Outreach” grants for next meeting.
VII. Development Committee
● Blacksmith Annual Fund
o A. Primeaux reported that amount raised as of today is $210,000 with North Texas Giving Day
taking place in one week.
● Hold one or two events
o Confirmed that WAF will hold one signature event this year with tentative date of April 22, 2023
at the Circle T Ranch “Barn.”
VIII. Marketing Committee
● S. Myers presented BAF and Blacksmith Giving Day mailing and promotions details.
IX. President’s Report
None
X. Executive Director
None
Other Business
Mayor Sean Kilbride shared that the Town has received $1.5M check from the Entrada developer. The
funds are designated for WA facilities.
S. Sankaranarayanan moved to adjourn the Board meeting, second by P. Pinsonnault. Motion carried. Meeting
adjourned at 10:01AM.
Next Meeting: Thursday, October 20, 2022 at 8:30 AM, at Town of Westlake Town Hall