May 12, 2007

The 168th meeting of the Board of Directors of the Capital District Kiwanis Foundation was held on May 12, 2007 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 and Trustee Dale Larson gave the Invocation.
Introduction of Guests:
President Brodsky introduced Doris Montgomery, Lt. Governor of Division One.
Roll Call indicated the following were in attendance:
Hank Brodsky              Joe Maranto                 Charles Adams             Marion Allen
Robert Cressy              Bernice Oden                Ron Reynolds               James Thompson          
Neal Behan                  Ralph Chinn                  Stan Miller                    Dale Larson                       
Paul Gates                    Harry Kriemelmeyer     Tom Varner

Minutes of the February 10, 2007 meeting- Motion to approve the minutes as circulated by email to the Board  was made by Tom Varner. Second by Ron Reynolds. Motion passed.
Finance Advisor’s Report- Simon Hamilton reported that from April 2006 to April 2007 our investments performed at 11.1%. S & P 500 performed at 13.1%. In keeping with our 60-40 split of equities to cash, we are at a much lower risk than the S & P. Our stock portion of the portfolio did near 15%. $55,000 was moved from the BOA account to the CDKF account to use to purchase CD’s to be laddered out over the next three years.
Treasurer’s Report- presented by Marion Allen, II- Copies of the Treasurer’s report was distributed to the Board and is made a permanent part of the minutes. Treasurer Allen stated the total current assets are $$684,098. Investments are at $$559,011. The market value of investments is $178,979.50 for savings certificates and $335,081 for Mutual Funds, Bonds and other. The cash balance at Farris Baker Watts is $45,206.25 A motion to approve the Treasurer’s Report was made by Bob Cressy and seconded by Ron Reynolds. Motion passed
Fund Raising Publicity- We need to update brochures to have at the District Convention. Publicize the history of the Caring Corner and the Ducky Derby. Founder’s Society trifold display board should be displayed at the Convention,

Committee Reports

Life Memberships- Secretary Adams reported 3 new members since February 10, 2007.
Caring Corner- Ron Reynolds reported that he gave out a copy of the letter to be sent to the Lt. Governors and Club Presidents. Items from last year’s Caring Corner will be sold at a reduced price. There will be no ½ price sale at the end of the Caring Corner on new items. The seven pediatric trauma hospitals that we serve should be listed on a display in the Caring Corner. Request the largest room possible in Rockville. We need Clubs, Divisions and Individuals to donate new items for the sale and the Silent Auction.
Ducky Derby- Stan Miller reported that Ducky Adoption Certificates have been given to all CDKF Trustees for distribution. They will also be sold at the District Convention prior to the Ducky Derby. The price is $5.00 each or 3 for $10.00. Do not put any number on the certificate. Trustees will be needed to help number the certificates.
Founder’s Society- The Governor’s Project this year is the Founder’s Society. $2760 has been donated at Governor Cressy’s Official Visits. The Taneytown Club donated $6000 for 6 new members when they  turned in their charter. $9000 has been received by the Founder’s Society in the last month.
New Business

Grant Applications – Report by Tom Varner
1.      Division 9 - The four clubs in Division 9 have requested $ 5000 for their project on Improving Birth Outcomes for Our Tiniest Patients.

2.      Children’s Council of Hampton Roads- Requested $10,000 for KPO Technology Enhancements.

The Grants Committee recommended giving $1500 to the Children’s Council of Hampton Roads and $1000 to Division for Improving Birth Outcomes.  Due to the lack of a quorum since two Trustees had to leave the meeting early, the grants will be voted on at the August Board meeting in Rockville.

Nominating Committee- Doc Thrush, Roger Diehl and Stan Miller were appointed to serve on the Nominating Committee.
New Foundation Computer – Motion was made by Stan Miller to authorize Secretary Adams to use up to $1000 for a new CDKF Computer. Second by Jim Thompson. The recommendation was approved by those present, but there was not a quorum present to make it official so it will be addressed again in Rockville.
The next meeting will be on Friday, August 18, 2007 at 3:30 PM at the Hilton Washington DC/Rockville Executive Meeting Center, Rockville, MD.
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