Meeting of the Board of Directors
November 8, 2008

The 174th meeting of the Board of Directors of the Capital District Kiwanis Foundation was held on November 8, 2008 at the Fredericksburg Hospitality House, Fredericksburg, Virginia. President Joe Maranto called the meeting to order at 10:00 AM. Ron Reynolds led the Pledge of Allegiance and Trustee Warren Kane gave the Invocation.
Introduction of Guests:  President Maranto introduced Martyn Conquest from Special Olympics and Raga Elim, District Chair for International Understanding.

Roll Call indicated the following were in attendance:

Joe Maranto Ron Reynolds Hank Brodsky
Charles Adams Marion Allen Bernice Oden
Roy Sheets Don Jones Roger Diehl
James Thompson Neal Behan Stan F. Miller
Jim O'Connell Warren Kane Paul Gates

Minutes of the August 15, 2008 meeting- Motion to approve the minutes 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. Current investments are at $565,244. We gave $25,900 to the 7 Pediatric Trauma hospitals. Our net assets are $600,638.We have 8 CDs that total $216,667, Tax exempt securities of Nuveen at $16,698, Mutual funds at $316,451 vs. cost of $394,000. Cash balances reserve account is $12, 955. Total revenues are $97,970, Expenses of $46,462. Excess of Revenue gains over expenses is $51, 508. A motion to approve the Treasurer’s report was made by Ron Reynolds, seconded by Bernice Oden. Motion passed.
Budget- Copies of the 2008-09 budget were distributed by Treasurer Marion Allen. Due to additions to KI matching scholarships, secretary’s expenses, Founder’s Society medallions and the Governor’s project,
$ 11,300 from reserves was used as income to balance the budget. A motion to approve the budget as amended was made by hank Brodsky, seconded by Ron Reynolds. Motion passed.
Committee Reports

Finance- Stan Miller reported that we had sold Rets, Fannie Mar and Freddie Mac so that we did not have losses. We are still holding $2400 of Allied Capital. We had approved rollover for one year term of CD due on November 24, 2008. Finance Committee suggested that we roll it over for two years to get a better rate.
Two divisions already have turned in their $2/member annual gift to CDKF. If the clubs send their annual gift to KIF by December 1st, they receive a new pin, as well as the banner patch. We need raffles at the upcoming Regional Mid-Winter Conferences to raise funds for the Pediatric Trauma hospitals. Try to sell tickets throughout the region prior to the conference, not just at the meeting. A motion was made by Ron Reynolds to increase the CD term to two years as recommended. Second by Bernice Oden. Motion passed.
Life Memberships- Secretary Adams reported 25 new life members since the last meeting...
Caring Corner- Ron Reynolds reported that we will continue the same format as last year. We need more handmade items. Please try to have items priced when you bring them to Convention.
Ducky Derby- Joe Maranto reported that printing of the certificates was covered by Sandy Simmons of the Oyster Point Club.
Teenager of the Year- Roger Diehl requested $2000 a year as the prize for the winner plus the cost of room and meals for the Teenager of the Year and their parents.
New Business
National Special Olympics-  Martyn Conquest reported on a program that combines Youth sports with service learning. Special Olympics started in 1968. There are 3 million children and adults as members. Currently, 10’s of thousands if children don’t get to play on teams. Special Olympics focused on Unified Sports Leagues where people without disabilities play on the same teams as those with disabilities. We want to challenge clubs in our area to offer United Soccer Leagues to include those individuals with disabilities and attach service learning/community service projects with Unified Sports. Project Success is being done in Fairfax County. It is being done only in about 6 localities around the country. Social skills and life skills are being taught to help those with disabilities to become productive citizens. Special Olympics is looking for partners who see benefit in the program.

Grants Committee- Don Jones reported that there are grant applications from Largo High School Key Club,
VA Tech CKI and DC Young Professionals Kiwanis Club. The committee needed more time to study the applications and moved to table until the February meeting. Second by Jim O’Connell. Motion passed.
Initiative for Africa- Raga Elim, District Chair for International Understanding, reported 26,00 children die each day in Africa due to lack of food and water. There are no long term plans to improve lives and save children in third world countries. Draught is creating the problems at the present. Farmers will pay ½ the cost of irrigation pumps and Capital District will match their funds to raise $50,000. The Committee on International Understanding is asking the Foundation to accept the contributions so donors can receive a tax deduction.  A motion was made by Ron Reynolds and seconded by Don Jones for the CDKF to accept the contributions. Motion passed.

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 Joe Maranto. Motion passed.
The next meeting will be on February 14 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