CAPITAL DISTRICT KIWANIS FOUNDATION, INC.
MEETING OF THE BOARD OF DIRECTORS
January 9, 2010

The 178th meeting of the Board of Directors of the Capital District Kiwanis Foundation was held on January 9, 2010 at the Fredericksburg Hospitality House. President Joe Ron Reynolds called the meeting to order at 10:00 AM. H. L. Marks led the Pledge of Allegiance and Roy Sheets gave the Invocation.
 
The following members were in attendance:
Joe Maranto Ron Reynolds H.L. Marks
Charles Adams Marion Allen Don Dudey
Bernice Oden Roy Sheets Don Jones
Brian Bell David Blanch Stan Miller
John Thomas Warren Kane Linda Smith
Harry Kriemelmeyer Hank Brodsky  

President Reynolds introduced the following guests: Jackie Lowe, Steve Miles and Raga Elim.
 
Minutes of the August 21, 2009 meeting- Motion to approve the minutes as circulated by email was made by H.L. Marks and seconded by David Blanch. Motion passed.
 
Treasurer’s Report-Treasurer Marion Allen reported total assets of $626, 210.65. Total Net Assets were $591, 680.65 and total liabilities and net assets were $620, 210.65. The complete treasure’s report is made a permanent part of the minutes. A motion was made by Charles Adams and seconded by Warren Kane to accept the Treasurer’s report as presented. Motion passed.
 
Life Memberships- Charles Adams reported that we are now at 2616 Life members in the Foundation.
 
Caring Corner- Ron Reynolds reported that the Caring Corner will be held in the Holiday Inn Hotel Lobby in Lynchburg in August. It made $1916, 50 in Dover. We need collectibles and new items to sell in Lynchburg. Please get the word out now.
 
Ducky Derby- Joe Maranto and H.L. Marks will serve as co-chairs with Roy Sheets, Brian Bell and Roger Diehl on the committee. Would like to get the Circle K involved.
 
Founders Society- Bob Cressy reported $102,000 in the Founder’s Society. There have been no new adds since last meeting. One will be presented at the Mid-Winter Conference.
 
Finance Committee Report- Stan Miller stated the $25,000 CD that came due was used to purchase International Growth and Income Fund.  The committee proposed that the $25,000 CD coming due in April 2010 be rolled over into a new 1 year CD.  Moved by Charles Adams and seconded by Harry Kriemelmeyer. Motion passed. The Committee also recommended taking $3000 from the Kopeland for grants. Motion by H.L. Marks and seconded by Bernice Oden. Motion passed. Stock in Allied Corporation will be bought out. The Finance Committee recommended to sell the stock in the new company and put the approximately $1100 into IAG. Moved by H.L. Marks and seconded by Don Jones. Motion passed.
 
Financial Report- Bob Cressy stated that the market had a low on March 9th, but has had a strong performance since then. 2010 should be a good year. All mutual funds have outperformed the S&P. The 7 CDs worth $200,000 are in compliance with the investment policy.
 
New Business
 
CDKF Committees- See attached list of all 2009-2010 committees. A motion to approve all committee appointments by President Reynolds was made by Charles Adams and seconded by Warren Kane. Motion passed.
 
International Understanding- Dr. Raga Elim reported that we can serve the children in Africa through the Initiative for Africa that helps families by buying pumps to help irrigate their crops. So far over $18,000 has been raised by 25 Kiwanis clubs and 80 individuals. Kick Start International is our partner and will match our funds. Dr. Elim is asking the Foundation to fund a grant to support this International project.
 
Grants- Dave Blanch reported that there were three grant applications to be considered by the Board. The Largo High Key Club has asked for $5000 to help teachers and students with items not provided in the school’s budget. This is a YCPO activity. The Charlottesville CKI has requested $1000 for project to raise funds for selected Kiwanis Family charities. The International Understanding Committee has requested $5000 for the Initiative for Africa.   The Grants Committee recommends $500 for each applicant. After much discussion and motions being made and withdrawn, it was finally moved by H.L. Marks to give $1000 to Largo High Key Club and $1000 to Capital District CKI. Second by John Thomas. Motion passed.  A motion was made by Dave Blanch to review the Initiative for Africa request and see what Kiwanis International Foundation does on the grant request sent to them. Second by Don Jones. Motion passed.
 
Recognition Committee- Secretary Adams read a letter from District Secretary-Treasurer Ellis Stroup stating that he did not want any special recognition such as medallion on the Founder’s Society ribbon as proposed by PG Tom Ganse. President Ron appointed a committee of Stan Miller, Charles Adams and Warren Kane to further consider a way to recognize Ellis Stroup for his dedicated service to the District.
 
CPR Teddy- Ron Reynolds reported that the CPR Teddy Jr. is now available for $25.00. For $22.50, there is one without the heart pump. We can sell them at the KI Convention. CPR Teddy will pay for the booth. Motion to approve by Hank Brodsky, second by Brian Bell. Motion passed.
 
Policy Committee- Tabled until the next meeting.
 
District Shirts- Harry Kriemelmeyer presented a check for $60.00 for our portion of District shirts that had been purchased.

There being no further business to come before the board, H.L. Marks made a motion to adjourn. Second by Joe Maranto. Motion passed.
 
The next meeting will be on February 13th at the Fredericksburg Hospitality House. The meeting will be in the Palm Room down the hall from the Hotel Registration desk. Note that this is a change from the Patrick Henry Room where we usually meet.

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