CAPITAL DISTRICT KIWANIS FOUNDATION, INC.
MEETING OF THE BOARD OF DIRECTORS
November 11, 2006

The 166th meeting of the Board of Directors of the Capital District Kiwanis Foundation was held on November 11, 2006 at the Fredericksburg Holiday Inn and Conference Center, Fredericksburg, Virginia.

President Hank Brodsky called the meeting to order at 10:00 AM.
President-Elect Joe Maranto led the Pledge of Allegiance.

Roll Call indicated the following were in attendance:
Hank Brodsky
Joe Maranto
Charles Adams
Marion Allen
Doc Thrush
Art Riley
Bernice Oden
Ron Reynolds
Roy Sheets
Don Jones
Charles Bowie
H. L. Marks
Stan Miller
Don Schroeder
John Thomas
Paul Gates
Harry Kriemelmeyer
Tom Varner

Introduction of Guests by President Brodsky- Simon Hamilton, our new Financial Consultant      

Minutes of the August 17, 2006 meeting- Motion to approve the minutes was made by Doc Thrush. Second by Ron Reynolds. Motion passed.

Finance Committee Report- A mature CD was rolled over into a money market certificate at 41/2% ($25,000). A November 24th CD will be rolled over to mature in the spring of 2008at approximately 5%. Two equity funds are C funds which are making more in C funds than if they had been in A funds.

Treasurer’s Report- presented by Marion Allen, II- Copies of the Treasurer’s report were distributed to the Board and are made a permanent part of the minutes. Treasurer Allen stated the total current assets are  $635,000. Investments are at $528,200.Regional Raffles made $3603 and the Ducky Derby made $11,285. The donations to the Pediatric Hospitals were $21,700 ($3,100/hospital). The question was raised as what to do with the $9800 budgeted for CKI since no bills have been submitted to CDKF for reimbursement. A motion was made by Don Schroeder and seconded by Ron Reynolds to distribute the funds to the hospitals. Motion did not pass. A motion was then made by Doc Thrush and seconded by Joe Maranto to put the $9800 Unused CKI funds in the Board unrestricted funds. The motion passed.   A motion to approve the Treasurer’s Report was made by Ron Reynolds  and seconded by Doc Thrush. Motion passed

Committee Reports

Life Memberships- Secretary Adams reported 4 new members since August 18, 2006 giving the Foundation a total of 2473 Life members.

Caring Corner- Ron Reynolds reported that we raised $3800 in Reston at the District Convention.

Founder’s Society-Roger Diehl/Bob Cressy  were not in attendance. Governor Cressy wants to set up a line item in the Founder’s Society for gifts made to the Governor’s project. $1300 has been given so far.

New Business

2006-07 Foundation Budget- Motion made by Ron Reynolds to approve the budget submitted by Treasurer as corrected. Second by Charlie Bowie. Motion passed. The approved budget is made a permanent part of the minutes.

Bylaws Report by Tom Varner-  A motion to approve the Bylaws as corrected was made by Joe Maranto, seconded by Don Jones. An amendment was made by Joe Maranto and seconded by Don Jones to include An Article of Purpose. Motion as amended passed.

Grant Application- Charlie Bowie reported that the Kiwanis Club of Waynesboro has requested a grant of $10,000  for the Augusta Regional Dental Clinic to provide dental care to children in the area. There is no contribution from the Waynesboro club. The Grant Committee recommends funding in the amount of $2500 for the clinic. Second by Don Jones that the grant be approved if the clinic is a viable operation. Motion passed.

Ducky Derby Chairman- Stan Miller volunteered to be the Ducky Derby Chairman

Caring Corner Chairman- Ron Reynolds volunteered to chair the Caring Corner until 2008.

Ducky Derby Shirts- Doc Thrush will have a report at the February meeting.

The next meeting will be on February 10, 2007 at 10:00 AM in the Patrick Henry Room of the Fredericksburg Holiday Inn & Conference Center, Fredericksburg, VA.

There being no further business to be brought before the Board, President Brodsky adjourned the meeting.

Respectfully submitted,
Charles P. “Charlie” Adams
Executive Secretary
Capital District Kiwanis Foundation