HomeMy WebLinkAbout02.20.24 WAF MinutesWESTLAKE ACADEMY FOUNDATION
Board Meeting
February 20,2024
Board Members in Attendance: Debbie Kraska, Patty Pinsonnault, Ahu Primeaux, Meghan Dorr, Mike Colby and
Christine Ross.
Others in Attendance: Wade Carroll, Kyle Clift-RBC Wealth Management, Shelly Myers and Julie Kelly
I. C. Ross called the meeting to order at 8:03AM at the Westlake Fire Station.
II. Motion to approve minutes of January 16, 2024 meeting, by A. Primeaux, seconded by M. Colby.
Motion carried.
III. Finance & Investment
• Financial Statements were tabled until next month.
Annual Investment Presentation by Kyle Clift of RBC Wealth Management.
o K. Clift discussed asset allocations by accounts and percent of total portfolio for the Foundation's
three endowment accounts managed by RBC — the WAF General Endowment, the Gingy Quinn
Teacher Endowment and the Bradley Endowment. The funds have a combined total of $2,486,350
as of 2/16/2024.
o Endowment performance over the last 3 years has been 6.03%.
o Annual income from the total endowments is $76,665 according to RBC's projections.
o K. Clift and RBC recommended replacing one fixed income manager with another and keeping all
else the same based on their analysis.
o Motion to approve recommendations by M. Colby, seconded by P. Pinsonnault. Motion carried.
IV. Foundation Business
• Nominating Committee & Process
o Discussed need for donor list and PYP focus in recruitment of new Directors.
• International Travel & Training Fund
o Discussed possibility of adding students as eligible for the current teachers -only fund.
o Will connect with Interim Head of School to ensure teachers are aware that funds are available and
will continue to support teachers' international travel and training as originally intended.
V. Development
• BAF Update
o A. Primeaux reported that Blacksmith Annual Fund has thus far raised $1,229,930 in pledges and
payments with 72% of families participating and 61% of new families.
o Will analyze donor giving to determine if families are giving less this year than last.
• Gala update
o P. Pinsonnault reported that venue of Westin Dallas Southlake has been confirmed and that
committee is deciding on food options, family -style vs plated vs buffet.
o Theme is "The World at Westlake".
o Entertainment will be Bollywood/Indian dancers, Lion dancers, henna artists, etc.
o Board agreed that teacher tickets should remain complimentary and covered by the event.
o Teachers are submitting Wish List items to be listed on the silent auction site.
o Board discussed artist Tim Norman's proposal to split the winning bid for his art piece 50/50 and
unanimously agreed to maintain our current policy not to accept consigned items for auction.
VI. Grants Review and Report
• S. Myers presented Large Print Graphing Calculators grant request in the amount of $1,416 that was
approved by herself and Board President, C. Ross.
• S. Myers reported on Bullying Prevention Speaker ($4,500) and MYP/DP Headsets ($1,300) grants,
both funded through the Quinn Fund
• S. Myers provided a review and update of the Hudson mini grants and projects during the current
school year.
VII. President's Report
C. Ross thanked the Board for all their work as part of the team and reminded them that she is always
available for any questions.
VIII. Executive Director's Report
S. Myers reminded the Board of the Stroll Westlake event on 2/29/24.
M. Dort moved to adjourn the Board meeting, seconded by P. Pinsonnault. Motion carried. Meeting adjourned at
9:50AM.
Next Meeting: Tuesday, March 19 2024 at 8:00 AM, at Westlake Fire Station
Signed by:
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Christine Ross, WAF Board President
Attested by:
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