CAPITAL DISTRICT KIWANIS FOUNDATION, INC.
Meeting of the Board of Directors
February 5, 2011

The 183nd meeting of the Board of Directors of the Capital District Kiwanis Foundation was held on February 5, 2011 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.

Introduction of Guests: Bob Owens-Lt. Governor, Div.22, Jackie Lowe-PLG, Div. 1, Scott Zimmerman, KIF District Chair, Trustee Dave Heppner, CDKF Past President Doc Thrush, Joe Stankus-District key Club Administrator and Past Governor Yvonne Holley

Ron Reynolds H.L. Marks Joe Maranto
Marion Allen Don Dudey Charles Adams
Tom Varner Jeff Wolff Bernice Oden
Don Jones Jon Rife Jim Thompson
Floyd Brown Stan Miller Steve Miles
Carolyn Richar Harry Kriemelmeyer Hank Brodsky

Minutes of the November 11, 2011 meeting- Motion to approve the minutes as corrected was made by Harry Kriemelmeyer and seconded by Bernice Oden. Motion passed.

Treasurer’s Report-Treasurer Marion Allen presented copies of his report to the trustees.
We have $642,000 in net assets and a cash balance of $24,000. Checks in the amount of $24,000 to be drawn for the Pediatric Hospitals. $96000 has been designated for the CKI budget. The complete treasurer’s report is made a permanent part of the minutes. Steve Miles made a motion to approve the report as submitted, seconded by Stan Miller. The motion passed.

Life Memberships: Charles Adams reported that there were 8 new members since the August meeting.

Caring Corner: Ron Reynolds reported that we did not promote the Caring Corner very well and did not get many items in from the clubs to sell. He passed out a letter to the trustees to send out to the club Presidents. Handmade items, collectables, and new items are needed for August in Williamsburg.

Ducky Derby: Ron congratulated H.L. Marks and Joe Maranto for their hard work. Using the raffle barrel saved many hours of work this year. Adoption certificates were passed out to the trustees.

Founders Society: Bob Cressy reported that Joe Maranto is a new member. $108, 00 has been contributed over time since the beginning of the Founder’s Society. We need to improve our marketing methods.

Finance Committee Report: Stan Miller reported that at the last meeting 2 CD’s due in December were to be rolled over. We were trying to find another tool that was FDIC insured, but couldn’t, so the CD’s will be rolled over. Recommended that CD’s due on April 6th ($25,000) and May 4th ($50,000) be rolled over for 18 months. We will get .6 to .8 %. The two CD’s due next year will be discussed at the May meeting. The CD is coming due for the Kopeland fund for $16,000. Recommended to roll over $13, 500 into another CD. And put $2,500 into the cash account. Up to $2,500 could be given for the Leadership Scholarship fund. Motion made by H.L. Marks and seconded by Jim Thompson to roll over the April 6th and may 4th CD’s. Motion passed. A motion was made by H. L. Marks that the Board approve up to $2500 to help fund the scholarship as a one time contribution subject to receipt of the policies on how they will do it and our approval. Second by Steve Miles. Motion passed.

Financial Advisor’s Report: Bob Cressy reported that equity funds are generating dividend yields of 1 to 4 %. Nuveen is at 7.6%. Dividends from the Mutual funds are reinvested back into the principal.

Teleconferencing: A motion was made by Charles Adams and seconded by Stan Miller that we only use teleconferencing as needed if a quorum will not be present. Motion passed.

New Business
Carolyn Richar recommended that we have an orientation for new CDKF Board members.

There being no further business to come before the board, Ron Reynolds adjourned the meeting.

The next meeting will be at 10:00 AM on Saturday, May 14, 2011 in the Palm Room at the Fredericksburg Hospitality House.

Respectfully submitted,

Charles P. Adams, Executive Secretary
Capital District Kiwanis.