Meeting of the Board of Directors
August 19, 2011

The 185th meeting of the Board of Directors of the Capital District Kiwanis Foundation was held on August 19, 2011 at the Marriott Williamsburg. President Reynolds called the meeting to order at 2:00 PM. H. L. Marks led the Pledge of Allegiance and Roy Sheets gave the Invocation.

Ron Reynolds H. L. Marks Roy Sheets
Joe Maranto Marion Allen Charles Adams
Tom Varner Jeff Wolff Bernice Oden
Jon Rife Brian Bell Jim Thompson
Floyd Brown Ralph Chinn Stan Miller
Carolyn Richar Harry Kriemelmeyer Hank Brodsky

Introduction of Guests- PG Joe Hillier, Ryan White and Mikail Clark of CKI, Jennifer Wolff, Dennis Grubbs, Doc Thrush and Scott Zimmerman.

Approval of Agenda- Motion by Brian Bell, Second by Carolyn Richar to accept agenda as circulates to the Board. Motion passed.

Minutes of the May 11, 2011 meeting- Motion to approve the minutes was made by Harry Kriemelmeyer and seconded by Jim Thompson. Motion passed.

Life Memberships- Charles Adams reported that there were 16 new members since the
May meeting.

Caring Corner- Ron Reynolds indicated that there were lots of good items for sale. He thanked all of those that helped set up the Caring Corner.

Ducky Derby- H. L. Marks reported that monies were down to date- $5000 collected so far. The drawing will be at %5:00 PM following the House of Delegates. The donation of prizes is still welcomed.

Teenager of the Year- Roger Diehl reported That Doreen Chan could not attend the banquet so the award will be presented to the Lt. Governor for her.

Founders Society- Bob Cressy reported that a presentation would be made at the DCON. $105, 000 has been collected over time to support the SLP programs. Please wear you medallions to the DCON meals.

Finance Committee Report- Stan Miller reported that $25,000 was approved to rollover at the last meeting. We are currently waiting on the Fed report to see if interest rates go up. In November we have another $25,000 CD coming due. The committee is asking permission to roll it over. The motion to do so was made by H.L. Marks, seconded by Carolyn Richar. Motion passed. CKI Budget for 2010-2011- $1200 is in the budget for K Family Weekend which will not be until October 14-16, 2011. Using our current method of accounting, we can give the
money out to CKI prior to September 30, 2011. There is also $500 for K Family Weekend from the CDKF. We can put both in Accounts Payable for payment in October. Motion by Brian Bell to do so. Second by Jeff Wolff. Motion passed. The committee also asked to plan to back up Marion’s and Charlie’s computer with Carbonite at $60 each and approval for up to $1000 for two computers for the secretary and treasurer. Also, we set aside $2500 for the Ellis Stroup Scholarship Fund if needed. The Past Governors have raised the $5000 needed, so the $2500 is not needed at this time. H.L. Marks moved to use up to $1000 for the two computers and $120 for Carbonite backup. Second by Harry Kriemelmeyer. Hank Brodsky called the question. Motion passed.

Financial Advisor- Bob Cressy pointed that there is a market environment that is in turmoil. The corporate world is doing well. S&P had profits that beat estimates. Governments are the ones having problems-need to cut spending, balance budgets. Private capital is doing OK. The CDKF investment policy is still the same.60% of investments in estimates based on cost. 40% is fixed income. Principal should not be able to go down. Protects us at the same time that it restricts us. We are under a benchmark process- Bond funds are measured against bond funds. CDKF is measured against a target fund which has the 60/40 ratio. Currently there is over $600,000 in the foundation. Income from all assets is $13,000 estimated annual income. Dividends are reinvested into mutual funds.

Treasure’s Report- Due to the fire and asbestos contamination in Marion’s office, everything was disposed of. There has been help from a number of people to get the records restored. He now takes two pictures of checks and keeps one in his office and one at home. Bob Cressy, Lombard Securities and Bank of America provided deposit records, etc. The Board was provided with financial statements as of March 31, 2011 and June 30, 2011. There is $17, 000 in cash at BofA. Investments are $620,000. $5,200 in Accounts Payable. Total net assets are at $676, 301.43. Excess of Revenue, gains and other support over expenditures is $30,995.27. The $25.00 fee to the State Corporation Commission and 990 filing are due by September 3oth. A motion to accept the treasure’s report was made by Charlie Adams, seconded by H.L. marks. Motion passed. The complete treasurer’s report is made a permanent part of the minutes.

New Business

CKI Governor Ryan White thanked the CDKF for its support. The budget is the same as the last two years. District events are self sustaining. They are asking for $9800 plus $300 for the Governor’s travel to New Orleans. The total requested id $10,100. This will be made part of our budget in November.

Nominating Committee- Hank Brodsky, Stan Miller and Joe Maranto met on May 14th. The committee recommends the following slate:
H.L. Marks- President
Roy A. Sheets, Jr. - President-Elect
Ron Reynolds –Immediate Past President
Brian Bell-Vice President

They also recommended that the current Executive Secretary and Treasurer continue in their positions for the coming year. The motion passed.

Meeting Dates- November 12, 2011, February 4, 2012, May 19, 2012 and August 24, 2012
The Finance Committee will meet at 9:00 AM and the Board at 10:00 AM
Motion by H.L. Marks, seconded by Harry Kriemelmeyer. Motion passed.
A motion was made by H. L. Marks and seconded by Jon Rife to have the meetings at the Fredericksburg Hospitality House. Motion passed.

Duties of Trustees- Ron Reynolds sent out the Pledge form with the duties to the Trustees. Please return them to the CDKF secretary.

Term Realignment- Charlie Adams presented the term realignment sheet to the trustees. It was moved by Harry Kriemelmeyer to accept the realignment, second by Carolyn Richar. Motion passed.

Grants Accountability- A report from the grant recipient is due 45 days after the completion of the project. This should be made part of the Policy Statements and voted on in November.

Committee Appointments- A list of 2011-2012 committee appointments was passed out to the board. A motion to approve them was made by Carolyn Richar, seconded by Brian Bell. Motion passed.

aKtion Club- Millie Kriemelmeyer of the Waldorf made a presentation requesting $500 for the faculty advisor and Club President to attend the aKtion Club training conference in September. A motion was made by H. L. Marks to fund the $500from the Kopeland Fund. Second by Bernice Oden. An amendment to the motion was made by Charlie Adams to make this a one time allocation. Future support of action Club training would be by a grant request. Seconded by Floyd Brown. The amendment failed on a 7 yea and 9 nay vote. The original motion passed.

President’s Items-
Trauma Hospitals= Roy Sheets reported that since the early 1980’s the CDKF has contributed $550, 713. The first was to Children’s Hospital in DC. The Young at heart publication from Children’s Hospital Foundation thanked the CDKF for the $3400 contribution this year for the CHMCV campus.

Bylaws- President Ron reported that we are currently operating under the 1992 bylaws approved by KI. The 2006 amended bylaws which were approved by the District Board in 2007 have been sent to KI for Board approval in October, 2011

Webpage- Jennifer Wolff has volunteered to do graphics for the CDKF webpage.

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

The next meeting will be on Saturday, May 12, 2011 in the Patrick Henry Room of the Fredericksburg Hospitality House.

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