CAPITAL DISTRICT KIWANIS FOUNDATION, INC.
Meeting of the Board of Directors
November 12, 2011

The 186th meeting of the Board of Directors of the Capital District Kiwanis Foundation was held on November 12, 2011 at the Fredericks Hospitality House. President H. L. Marks called the meeting to order at 10:00 AM. Roy Sheets led the Pledge of Allegiance and Brian Bell gave the Invocation.

The following members were in attendance:

Ron Reynolds H.L. Marks Roy Sheets
Joe Maranto Marion Allen Charles Adams
Tom Varner Jackie Lowe John Fox
Don Jones Jon Rife Roger Diehl
Brian Bell Rosemary Cummings Floyd Brown
Dennis Clark Stan Miller Bob Cassada
Tim Wesling Linda Smith Harry Kriemelmeyer
Mike Dasovich    

Introduction of Guests- PG Art Riley

Approval of Agenda- Motion by Floyd Brown, Second by Mike Dasovich to accept agenda as circulates to the Board. Motion passed.

Minutes of the August 19, 2011 meeting- Motion to approve the minutes as corrected was made by Ron Reynolds and seconded by Brian Bell. Motion passed.

Grant Applications- Don Jones reported that there were three grant applications: Gloucester Kiwanis requested $5000 for 8 computers for the Boys and Girls Club. The Gloucester Kiwanis Club is providing $300 for the project. The Grant committee recommended $1000. The Tappahanock Kiwanis asked for funds to recharter the Essex High School Key Club. The committee recommended $500. The Club will provide $300. The Baltimore City Kiwanis Club requested funds to provide a Hemi incubator for third world countries. There were no club funds and the committee recommended no funding. A vote on the grants was tabled until the budget is approved.

Ellis Stroup Scholarship- Art Riley provided a printed proposal to the Board. H.L. Marks asked the Finance Committee to study this and report back at the February 4th meeting.

Treasurer’s Report- Marion Allen passed out the balance sheet to the Board showing total assets of $637,790.91 as of September 30, 2011. Cash in the bank account is $27,000. We have $609,566 in investments. Current liabilities- accounts payable is $24,500 to the 7 pediatric trauma hospitals. Total net assets are $637, 790.91. Treasurer Allen read part of the Thank You note from Johns Hopkins for the pediatric trauma donation. He also reported that UVA has the only infant transplant unit. One half of the $2.00 per member contributions goes to the pediatric trauma hospitals. Divisional Trustees need to work on clubs that have not contributed to the $2.00 per member campaign. Roy Sheets reported that over a 25 year period CDKF has contributed $550, 713 to the pediatric hospitals. Brian Bell said it would help to report specific uses of our monies at the hospitals. A motion to approve the Treasurer’s report was made by Ron Reynolds. Second by Charles Adams. Motion passed.

Life Memberships- Charles Adams reported that there were 33 new members since the August meeting.

Caring Corner- Ron Reynolds reported that $917 was raised at the District Convention in Williamsburg. Trustees need to ask clubs for donations. A letter will be passed out to the trustees about donations to Caring Corner.

Ducky Derby- Joe Maranto reported that Certificates are being printed and will be distributed at the February meeting. The goal is to beat the $12,000 raised at this year’s derby. Gift Certificates are good prizes to request Mike Dasovich recommended that we see about raffling a car. He was appointed to the fund raising which will consider this.

Teenager of the Year- Roger Diehl reported that he will get the information out to the website for applying for next year’s award. Secretary-Treasurer Tom Varner reported that Roger presented the award to this year’s winner Thai Doreen.

New Trustee Package Committee- Harry Kriemelmeyer reported that the new Trustee package would include the Bylaws, Committee members and the Trustee Pledge. John Fox thanked Harry and his committee for their work.

Founders Society- Bob Cressy reported that Brian Bell was presented a Founder’s Society award
at the DCON. $103,000 has been pledged to the Founder’s Society. The funds are used to support the SLP’s. Trustees need to tell Division Council meetings about the Founder’s Society and wear their medallions to Kiwanis functions.

Finance Committee Report- Stan Miller reported that at the last meeting the Board approved a CD rollover of the November CD. There are two CD’s coming due – one on February 15th for $50,000 and one on February 27th for $25,000. He asked the board to approve the rollover in advance. The CD rate is currently.4%. It was moves by Ron Reynolds to rollover both CD’s. Second by Joe Maranto. Motion passed. Bob Cressy presented a rundown of investments and the committee reviewed the report from Lombard Securities, Inc.. They approved what Bob is doing with our investments. The committee also reviewed the CDKF budget.

Financial Advisor- Bob Cressy pointed out that our CD’s are FDIC insured. They are equal to the value of the dollars we put into them The market value may be less as of that date/ All bonds go to maturity. Investments and mutual funds provide dividends. Each has a different benchmark. Mutual funds perform well in relation to benchmarks. There is lots of emotion in the market.

2011-2012 CDKF Budget- Marion Allen passed out the budget to the Board which is made a permanent part of the minutes. After discussion, the budget was revised and a motion was made by Roger Diehl and seconded by harry Kriemelmeyer to approve the revised budget. The motion passed.

Correspondence- Charles Adams reported that the CDKF had received a Thank You letter from Millie Kriemelmeyer for the CDKF’s donation to the Aktion Club.

New Business

Grants-
Gloucester Kiwanis requested $5,000 for computers for the Boys and Girls Club. Mike Dasovich asked if we could give more than the $1,000 the committee recommended-up it to $2000. A motion was made by Ron Reynolds to give $2,200, Second by Mike Dasovich. Motion passed.

Tappahanock Kiwanis- A motion was made by Brian Bell to give $300, second by Bob Cassada. The motion was amended to give the $300 if it was not given by Division 4. The amendment passed. The motion as amended passed.

The Baltimore City Kiwanis Club requested funds to provide a Hemi incubator for third world countries. There were no club funds and the committee recommended no funding.

Lodging Expenses for Jon Rife- The cost of $90 for one night’s lodging at the Hospitality House due to the travel time involved was requested. A motion by John Fox was made to approve the cost. Second by Mike Dasovich. Motion passed. H.L. Marks asked if anyone traveling more than 250 miles be given support for lodging cost. Ron Reynolds will look into travel reimbursement and report back at the February Meeting.

President’s Time- H.L. Marks asked that Charles Adams be reimbursed for $62 for the CDKF computer printer. Motion to reimburse by Ron Reynolds and seconded by Harry Kriemelmeyer. Motion passed.

Web page Changes- John Fox and Jennifer Wolff are currently updating the CDKF webpage. John Fox will chair the Webpage Committee and Bob Cassada, Rosemary Cummings and Jackie Lowe volunteered to serve on the committee.

Carbonite Backup- Charles Adams and Marion Allen were given $59 each for offsite backup of their files by Carbonite. Each has made the arrangements to do this.

Mission Statement and Core Values- A proposal was passed out by H. L. Marks and Ron Reynolds for the Board to consider.

There being no further business to come before the board, President Marks adjourned the meeting.

The next meeting will be on Saturday, February 4, 2012 in the Patrick Henry Room of the Fredericksburg Hospitality House.

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