CAPITAL DISTRICT KIWANIS FOUNDATION, INC.
Meeting of the Board of Directors
May 10, 2008
The 172nd meeting of the Board of Directors of the Capital District Kiwanis Foundation was held on May 10, 2008 at the Holiday Inn & Conference Center, Fredericksburg, Virginia. President Joe Maranto called the meeting to order at 10:00 AM. President-Elect Reynolds led the Pledge of Allegiance and Trustee H. L. Marks gave the Invocation.
Roll Call indicated the following were in attendance:
|| Ron Reynolds
||H. L. Marks
Minutes of the February 9, 2008 meeting- Motion to approve the minutes as circulated by email was made by Ron Reynolds. 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. Total assets as of March 31st were $689,000. Revenues of $56,503.14 and Expenses of $1,767.57 leaving Excess of Revenue over expenses of $54,733.57.
David Blanch moved to accept the Treasurer’s report as presented, second by Neal Behan . The motion passed.
Life Memberships- Secretary Adams reported 6 new life members since the last meeting. Stan Miller pointed out that this is an excellent way to honor outgoing club Presidents.
Caring Corner- Ron Reynolds requested funds from the Caring Corner of $50 to purchase storage bins. Stan Miller moved to get $100 worth of bins, second by H.L. Marks. Motion passed. Three rooms have been assigned for the Caring Corner, Ducky Derby sales, the Kiwanis Store and Convention Hospitality at the Richmond DCON. We need handcrafted items, new items and antiques from clubs and divisions for the Silent Auction and to sell at the Caring Corner.
Ducky Derby- H. L. Marks reported that we need to get the Certificates out to the clubs to sell for the Ducky Derby at the DCON. We have 15 prizes in addition to the cash prizes. All trustees are asked to get a prize from their division. We need a room at the Marriott in which to number the ducks.
Teenager of the Year- Roger Diehl reported the deadline was June 1st for all applications to be sent to him.
Founder’s Society- There are no new members since the last meeting. Joe Maranto requested to have 1000 FS brochures to distribute at the DCON. A motion was made by H.L. marks to have new ones printed in white. Second by Ron Reynolds. Motion passed.
Grant Application- international Understanding Chair Raga Elim presented a grant proposal on the CKI International Understanding project. The request is for $2500 to fund the 5 best CKI club proposals to create and implement an International understanding project. He stated that we can count on the very diverse 22CKI clubs to carry out the mission of International Understanding. The competition would be announced as students return to school in September.
Currently, the IU committee has touched base with the CKI Governor and CKI Board about the project. Clubs will submit their proposals in 1½ months for the committee to decide the winners.
The IU committee will work on the criteria for the proposals and a selection committee will determine the 5 winners. A motion was made by H. L. Marks to give $2500 from the Copeland fund on October 1, 2008. Second by Ron Reynolds. Motion passed. H. L. also asked that a packet be put together by the IU committee for the CDKF President.
Trustee Vacancies- We still need Trustees on the Board from Divisions 8 and 10. Both Lt. Governors have been contacted, but there has been no reply at this time.
Finance Committee- A proposal was made to take $35,000 from the reserve fund and investing it in the American Fund Group. This would result in paying $875 in fees. A $25,000 I year CD at 3.5% was purchased with a $4.00 administrative fee. 2 CDs are coming due in June and July The committee recommended rolling them over at the prevailing rate for a one year term. A motion was made by Stan Miller to approve the committee’s suggestion. Second by Ron Reynolds. Motion passed. Ferris baker Watts was bought out by a Canadian firm and Bob Cressy has moved to Lombard. The Finance Committee recommends that our funds be moved from FBW to Lombard and that Bob Cressy be appointed as Financial Advisor as of October 1, 2008. The Chair moved the above recommendations, seconded by Ron Reynolds. Motion passed.
CPR Teddy Bears- Ron Reynolds presented a draft proposal to the Board on the CPR Teddy Bear project. We can purchase the bears from Trainikins for $45 each and sell them for $50 resulting in $5.00 per bear for the Foundation. Clubs can pick up bears at the Trainikins warehouse in Lynchburg or can be mailed out at the company’s rat which is less than we would pay. A jacket for the bear with the Club’s name can be purchased for $7.00. Total cost would be $50 plus shipping and sales tax per bear plus $7.00 if the jacket is requested.
Nominating Committee- President Maranto appointed Trustee Warren Kane as the Nominating Committee Chairman and Roger Diehl and Hank Brodsky volunteered to serve on the committee. They will make their recommendations at the August meeting.
Adjournment-There being no further business to be brought before the Board, a motion was made by Hank Brodsky to adjourn the meeting. Second by Neal Behan. Motion passed.
The next meeting will be on August 15, 2008, 2008 at the Richmond Marriott Hotel in Salons G, H, I and J during the District Convention
Charles P. Adams
Capital District Kiwanis Foundation