Meeting of the Board of Directors
November 13, 2010

The 182nd meeting of the Board of Directors of the Capital District Kiwanis Foundation was held on November 13, 2010 at the Fredericksburg Hospitality House. President 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.

Ron Reynolds H.L. Marks Joe Maranto
Marion Allen Don Dudey Charles Adams
Tom Varner Jeff Wolff Bernice Oden
Roger Diehl Brian Bell David Blanch
Floyd Brown Stan Miller Steve Miles
Carolyn Richar Linda Smith Harry Kriemelmeyer

Minutes of the August 20 meeting- Motion to approve the minutes as corrected was made by Floyd Brown and seconded by Roger Diehl. Motion passed.

Treasurer’s Report-Treasurer Marion Allen presented copies of his report as of September 30, 2010 to the trustees. The complete treasurer’s report is made a permanent part of the minutes. Roger Diehl made a motion to approve the report as submitted, seconded by Stan Miller. The motion passed.

Life Memberships- Charles Adams reported that there were 26 new members since the
August meeting.

Caring Corner- Joe Maranto reported that the Caring Corner at the Lynchburg Holiday Inn made $860. Carolyn Richar volunteered to serve on the Caring Corner Committee.

Ducky Derby- H. L. Marks and Joe Maranto served as co-chairs. They reported that almost $13,000 profit was raised this year. Packages will be available in February for next year. The drum was used to select the winners which were posted along with the donors in the eBuilder.
Many thanks to Mrs. Maranto and Mrs. Allen for their outstanding service at the Ducky Derby desk.

Teenager of the Year- Roger Diehl reported that the selection committee of Kiwanians from Pennsylvania had a very difficult job in picking a winner from the applicants since they were all so good. We are only getting 9 to 11 nominees per year. Roger sends the information to the Lt. Governors to get the word out to the clubs. Competitions occur in the divisions to select a division representative. PG. Dudey recommended sending the information to all club presidents, not just the lt. Governors.

Founders Society- Two new members since August- Hank Brodsky and Steve Miles. $108, 000
has been contributed over time since the beginning of the Founder’s Society.

Finance Committee Report- Stan Miller reported that 3 CDs are coming due and that the committee recommends to roll these over into new $25,000 12 month CDs. CDKF bought $30,00 0f Pimco stock by taking $7,500 from 4 other funds. Motion by Steve Miles to approve the CD rollovers, seconded by Carolyn Richar. Motion passed.

Financial Advisor’s Report- Bob Cressy reported that the market has improved. All of the mutual funds have given a 1-3% return of dividends.Pimco has done well-YTD up 10%. Performing better than equities. The Investment account is doing well and we are watching it closely. Small caps are up 20%YTD.

New Business

CDKF Budget- Marion Allen presented the 2010-2011 budget to the Board. It had a deficit of $6434 based on income vs. expenditures. The budget was balanced by taking $5000 from the Kopeland Fund and $1434 from reserves. Motion to approve the budget was made by Roger Diehl, seconded by Bernice Oden. Motion passed.

Policy Committee- Joe Maranto reported that the policy changes had been circulated to the board members for their review. H. L. Marks moved to adopt the policy changes. Second by Bernice Oden. Motion passed.

February and May Meetings- The May meeting was moved from May 7th to May 14th at 10:00 AM and the February meeting from the 12th to the 5th at 2:00 PM.

Teleconferencing- Stan Miller reported that the Finance Committee, which was requested by Ron Reynolds to look into teleconferencing, recommends that it be used on an as needed basis only. We want all trustees to attend 4 meetings per year. The secretary will send a request with the agenda for trustees to respond if they will be attending or not. Teleconferencing would only be used if a quorum was not going to be present. Governor-Elect Jeff Wolff said that the SLP”S use It is only paid for by the user if they pay for long distance calls. Carolyn Richar made an amendment to the motion to use teleconferencing even if a quorum is going to be present for the remainder of the year- February and May meetings. Second by Don Dudey. The motion as amended passed.

Concerns of Governor Varner- (1) The CDKF is not adhering to its bylaws and policies-
(a) The President needs to appoint a fund raising committee of 5 members according to the policy statement. (b) Section 3d of the policies states that the President needs to appoint a review committee to review the performance of the secretary and treasurer.
(2) CDKF needs to send out requests to all clubs for donation to the Caring Corner

There being no further business to come before the board, Charlie Adams made a motion to adjourn. Second by Stan Miller. Motion passed. Ron Reynolds adjourned the meeting.

The next meeting will be at 2:00 PM on Saturday, February 5, 2011 in the Patrick Henry Room at the Fredericksburg Hospitality House.

Respectfully submitted,

Charles P. Adams, Executive Secretary
Capital District Kiwanis.