Meeting of the Board of Directors
August 15, 2008

The 173rd meeting of the Board of Directors of the Capital District Kiwanis Foundation was held on August 15, 2008 at the Richmond Marriott Hotel, Richmond, Virginia. President Joe Maranto called the meeting to order at 3:30 PM. Secretary Adams led the Pledge of Allegiance and Trustee Warren Kane gave the Invocation.
Introduction of Guests:  President Maranto introduced Jane Erickson, President of the Kiwanis International Foundation.

Roll Call indicated the following were in attendance:

Joe Maranto Ron Reynolds Hank Brodsky
Charles Adams Marion Allen Art Riley
Tom Ganse Bob Cressy Ellis Stroup
Bernice Oden John Fox Roy Sheets
Don Jones Roger Diehl James Thompson
Neal Behan David Blanch Ralph Chinn
Stan Miller Jim O'Connell Warren Kane
Paul Gates Harry Kriemelmeyer Gus Lamond
Johnnie Mann    

Minutes of the May 10, 2008 meeting- Motion to approve the minutes as circulated by email was made by Neal Behan. Second by Ron Reynolds. 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. There is $56,000 in the operating checking account. Receipts of $6400 in July for the Ducky Derby. Total assets of $666,000 cash. Investments of $607,000 including the Kopeland Trust. Net assets of $669,388.
Motion to approve the Treasurer’s report was made by Ron Reynolds, seconded by Stan Miller. Motion passed.
Committee Reports

Life Memberships- Secretary Adams reported 6 new life members since the last meeting...
Caring Corner- Ron Reynolds reported that new items will not be marked down at the end of the sale. Items from last year are at ½ price. Pink tags will be on collectible items.
Ducky Derby- Joe Maranto reported that H. L. Marks has done a yeoman’s job in preparing for the Ducky derby. Adoption certificates were sent out in early march. Key Clubbers and CDKF Trustees will number the certificates.
Teenager of the Year- Roger Diehl reported the judges who selected the Teenager of the Year were from Pennsylvania. The presentation will be made at the Governor’s banquet.
Founder’s Society-  Two new Founder’s Society plaques will be presented at the DCON. There are now 92 members in the Society.

Finance Committee- Stan Miller reported that there are 60% securities and 40 % in CD or federally insured items. Interest rates are down, but Bob Cressy shops around for the best rates at quality banks to invest at in $25,000 increments. 2CD’s were rolled over, one at 3.9 % and one at 4.3 %. Another CD come due on November 24th and it is recommended that we roll it over for 1 year. It is also recommended that $25,000 of the $32,000 in the reserve account be used to buy World Fund and that the Allied Capital Corp. stock be sold since it is declining and reinvest in Capital Income Builder Fund. We should stay with Nuveen Advantage Fund since it is at 6% and a good income producer. It was moved by Harry Kreimelmeyer to accept the recommendations of the Finance Committee, seconded by Gus almond. Motion Passed.
New Business
Nominating Committee- Warren Kane reported that the Nominating Committee nominates the current slate of Officers to serve for the 2008-09 year. Motion made by Gus almond and seconded by Jim O’Connell to accept the committee’s nominations. Motion passed.
CPR Teddy Bears- Ron Reynolds that there were several problems, but the investor had covered these. The price is still at $50.00, but there is no logo on the paw. Licensing has been cleared with Kiwanis International. It is proposed that clubs buy the teddy bears and donate them to various community organizations. A vest will be created with the KI logo on the back and the club name on the front. The bear teaches CPR, chocking response and the Heimlich maneuver for use on children as well as adults. Bear Jr. will be available in January 2009 to CDKF at $20.00. Clubs can make $10.00 as a fund raiser.  CDKF will receive $5.00 for every bear that is sold.

Website- John Fox reported that the CDKF website is up and running. Please let John know of any errors. All 2500 Life members are on the website by name, club, division or number. Check for any spelling errors.
John requested direction of protocol as far as who he is to accept information from. He is currently getting it from the secretary, treasurer and trustees. He also needs info for the Founder’s Society. Bob Cressy will work with him on that list. He will have his computer with the list of Life members at the DCON.
CKI Budget- Governor Heather Waite thanked the CDKF for all its help to the CDCKI. The budget request of $9800 includes a $100 increase for District Officer training and an $80 increase for the CKI International Convention due to convention cost increases.  This is $180 above the $9620 requested last year.

Gus Lamond reported that this would be his last CDKF Board meeting as the Division 24 Trustee since the District Board dissolved Division 24.
Trustees needed for Division 8 and 10- Brian Bell requested that he and Tom Murphy be given until the November Board meeting to get a Trustee for Division 10.
Pediatric Trauma pin- Governor Riley reported that the pins are available at $5.00 per pin with the proceeds going to the Foundation.  He also reported that the District Governors were asked to help increase the KIF endowment to reach its goal of $37 million. It is currently at $9 million. Pictures of President Dave Curry’s Official visit are available for $15 each or 2 for $25.

Jonnie Mann reported that she had enjoyed serving as the Supervising Trustee to the CDKF Board for the last three years and that Robbie Atkins from the Presidential Region will be her successor.
Adjournment-There being no further business to be brought before the Board, a motion was made by Charlie Adams to adjourn the meeting. Second by Don Jones. Motion passed.
The next meeting will be on November 8, 2008, 2008 at 10:00 AM in the Patrick Henry Room of the Fredericksburg Hospitality House.

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