CAPITAL DISTRICT KIWANIS FOUNDATION, INC.
MEETING OF THE BOARD OF DIRECTORS
August 17, 2007
The 169th meeting of the Board of Directors of the Capital District Kiwanis Foundation was held on August 17, 2007 at the Rockville Hilton Executive Conference Center, Rockville, Maryland. 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 Dale Collins, Dick Feeser, Jerry Peuler, Jeff Wolff, Morris Long, Sneha Bhat, Milan Nguyen, Ed Novak, Frank Dulong and Joe Kalista
Roll Call indicated the following were in attendance:
Minutes of the May 12, 2007 meeting- Motion to approve the minutes as circulated by email was made by Harry Kriemelmeyer, Second by Bernice Oden. Motion passed.
Treasurer’s Report- presented by Marion Allen, II
Copies of the Treasurer’s report were distributed to the Board and it is made a permanent part of the minutes. Treasurer Allen stated the total current assets are $702,000. Cash and Equivalents are $130,000. Investments are at $569,000, $69,000 in Market revenues. Expenses are $9493. Excess Revenue is $59,600. Net change in investments of $94,000. Contributions to the Ryan Clark Scholarship fund are at $1650. The Mid-Winter Raffles raised $7200 with $1000 paid out in prizes. The Ducky Derby has $1350 deposited to date. Expenses included $2500 for grants, $2000 for matching scholarships to KIF for Key Club and CKI.
A motion to approve the Treasurer’s Report was made by Ron Reynolds and seconded by John Fox. Motion passedCommittee ReportsLife Memberships Secretary Adams reported 31 new members since May 12, 2007.
Ron Reynolds thanked Stan Miller for the CC room provided by the DCON Committee and reported that there were nice items for sale and for bid at the silent auction. Of particular note was the 4’ x10” American Flag afghan donated by Amy Diehl.
Stan Miller reported that trustees would be needed in Room 302 after breakfast to label the adoption certificates. There were a number of divisions that have not donated prizes for the derby this year. It will be done as a drawing since the hotel’s pool was not available for the ducks.
Roger Diehl reported that we still need to get the word out about joining the Founder’s Society and that we need to lead by example.
A motion was made by Charlie Bowie to approve the grants tabled from the last meeting. It was seconded by Charlie Adams and the motion passed to give $1000 to Division 9 for their project on Improving Birth Outcomes for Our Tiniest Patients and $1500 to the Children’s Council of Hampton Roads for KPO Technology Enhancements.New BusinessStan Story of the Florida District was recognized by President Hank as the International Counselor to the Capital District for 2007-08.
Finance Committee Report
The Foundation’s financial advisor is no longer with Ferris, Baker, Watts, so the Foundation will self direct until a new advisor is appointed. There were no changes in the stocks and mutual funds. $25,000 from FBW funds and $50,000 from the Bank of America were used to buy CDs. Moved by Doc Thrush to accept the report, second by Jim Thompson. Motion passed.
The following slate of Officers for 2007-08 was recommended by the Nominating Committee:
President - Joe Maranto
President-Elect- Ron Reynolds
Vice-President- H. L. Marks
Executive Secretary- Charlie Adams
Treasurer- Marion Allen
A motion was made by Doc Thrush to accept the slate of Officers as recommended, second by Jim Thompson. Motion passed.
A motion was made by Harry Kriemelmeyer to sell District shirts as a Foundation fund raiser. The shirts would sell for $40 and the Foundation would receive $5.00. The motion was seconded by Bernice Oden. An amendment to refer the proposal to the Foundation’s Finance Committee was made by Charlie Bowie and seconded by H.L. Marks, but was then withdrawn. Gus Lamond stated that the District Board needs to give its approval for a new District Shirt. Harry Kriemelmeyer then withdrew his original motion. Tom Varner reported that it would be taken before the Board for approval.
Members retiring from the CDKF Board
Tom Varner, Charlie Bowie, Doc Thrush, Dale Larson and Don Schroeder were recognized for their service to the CDKF Board and were given a round of applause by the Trustees.
Volunteers are needed to serve as chairs for the Finance Committee, the Ducky Derby Committee and the Grants Committee.
There being no further business to be brought before the Board, a motion to adjourn was made by John Fox and seconded by Charlie Adams. Motion passed.
The next meeting will be on November 10, 2007 at 10:00 AM in the Patrick Henry Room of the Holiday Inn Select in Fredericksburg, VA.
Charles P. “Charlie” Adams
Capital District Kiwanis Foundation