Meeting of the Board of Directors
August 13, 2016

The 205th Meeting of the Board of Directors of the Capital District Kiwanis Foundation was held on August 13, 2016 at the Fredericksburg Hospitality House Hotel and Conference.
President Gary opened the meeting at 10:05 AM. Nancy Simonelli led the Pledge of Allegiance. Mike Dasovich gave the invocation.

Introduction of Guests – President Boswell introduced Past Gov. John Tyner, Lt. Gov. Div. 3 Stacy Miller, new Foundation Board members Carl Conway and Charles Marks and Key Club District Advisor Joe Stankus.

Roll call – President Gary – 18 Board members in attendance.

The following members were in attendance:

Roy Sheets Gary Boswell Nancy Simonelli
Tim Wesling Brian Bell David Heppnear
David Lurie Kelly Boswell Tom Varner
Bernice Oden Bob Cassada Dennis Grubbs
Jon Rife Mike Dasovich Hiawatha Nicely
Charels Marks Carl Conway John Fox

In the absence of Charles Adams, Nancy Simonelli will be taking the minutes.

Approval of agenda – Motion to accept the agenda as presented was made by Jon Rife, 2nd by Brian Bell. Motion passed.

Minutes of the April 22, 2016 meeting – minutes were emailed to board members on June 4, 2016 – motion to approve the minutes as circulated was made by David Heppner, 2nd by Jon Rife. Motion passed.

Treasurer report: Tim Wesling emailed the Treasurer report to the board members. Total assets are $896,457. 11. Per Tim 85 clubs have donated to the club giving year to date. The net income year to date is $85,638.09. Motion by David Heppner to accept the treasurer report, 2nd by Jon Rife – motion passed.

Life Membership – Charles Addams had emailed Pres. Boswell that he had 5 or 6 and will mail them to the Directors.

Fund raising:

  • Caring Corner - Nancy Simonelli reported that we had 38 baskets at DCON and raised $2,006. Bernice Oden has agreed to help in Caring Corner at the next DCON.         
  • Ducky Derby – Bob Cassada has been handling Ducky Derby for 8 years and is completing his term as of Sept. 30, 2016. He is giving President Gary all the information to hand off to the new Chairperson. The Directors gave Bob a standing ovation for all the work he has done on the Ducky Derby.  A total of $10,907.00 was raised this year for the Ducky Derby.
  • Shirt sales – Mike Dasovich – Mike and his wife sold shirts and jackets at DCON and raised $809.75 for the Foundation.
  • Souvenir Pins - Art Riley sold pins at DCON and raised $460.00.

Financial Advisor Report – President Gary tabled until the next board meeting. Discussion followed regarding Bob Cressy’s term which expires Sept. 30, 2016. A nominating committee was selected comprising of David Heppner, Gary Boswell, Jon Rife, and Mike Dasovich to recommend to the board guidelines for soliciting a portfolio manager. Dave Heppner mentioned that there is enough money in the fund to look outside the Kiwanis membership to get a professional portfolio manager. The board needs to look at options and make a good decision. More discussion followed regarding a conflict of interest regrading being a board member and the portfolio manager. This needs to be clarified by the committee. Motion made by Gary Boswell, 2nd by Jon Rife to form the committee and return in November with the criteria for soliciting a portfolio Manager – motion passed.

New business:
President Gary stated that someone had asked him if the Foundation could accept donations for Ellicott City. The Foundation needs a written guideline to be able to do something like this – he would like the Policy and By-Laws committee to review how the KI Foundation does this. KI Foundation accepts money for disasters, etc. for distribution. Mike Dasovich asked what is a conflict of interest and if receiving money for Ellicott City is a conflict of interest of how the Foundation makes contributions.

The Foundation received $750 from Verizon from Charles Marks – this is an unrestricted contribution.

President Gary is addressing the committee structures for 2016 – 2017 within the next couple weeks.

President Gary suggested a new fund raising idea for the Foundation. KI does not sell license plate holders anymore so Gary suggested the Foundation sell them. Nancy supplied vendor information on the cost of the frames.  The approximate cost of each frame is $2.00 which can be sold for $10.00 each.  Motion made by Jon Rife, 2nd by Dave Heppner to purchase 250 frames – Brian Bell amended the motion to purchase 500 frames, 2nd by Dave Lurie – Dave withdrew his motion- call the question – motion passed to order 500 frames.  Colors of the frame was discussed and Nancy will have a mock up of the frame and will submit to President Gary for approval before placing the order.

Discussion regarding what the Foundation has done and how to get the message out. Dave Heppner suggested a “brag sheet” listing grants, scholarships, awards, etc. given this past year.  This can be used for an article for the Capital Kiwanian. Governor Elect Kelly Boswell spoke about Courtney helping Capital District website to get more exposure. She will also ask about the Cap. District Foundation website and will work with Mike Dasovich.

Tom Varner suggested that we need a limited and focused agenda on why to give to the Foundation before talking to Courtney

John Tyner presented information to the board regarding Project Eliminate. The Capital District has reached 81% of the $3million goal. He asked that Directors pass the information to each club.

Joe Stankus discussed that Key Club scholarships are awarded based on academics and service to the community. Students may not need the scholarship money the first year if they receive a scholarship from the school. The college will deduct the $1,000 from the total awarded from the college. Joe Stankus asked if the scholarship money could be delayed 1 year so the student could receive both the college money and the Kiwanis money. Dave Heppner stated that the money could be listed in a separate line item because it is designated but not awarded until the 2nd year. It would be recorded as a liability with a “sunset restriction” that the student may receive the funds in their 2nd year of college. Tim Wesling asked who would keep track of this and Dave Heppner suggested noting the name as a line item.  Tim reminded everyone that the check is written to the university. Joe Stankus will revise the scholarship application stating the delay of awarding the scholarship.

Tim Wesling presented the 2016 – 2017 proposed budget for discussion. There is a $20,739 deficit on the proposed budget for 2016-17. President Gary entertained a motion, 2nd by Charles Marks to approve the budget as amended with the following changes. Motion passed. Refer to the draft budget.

  • Ducky Derby, Caring Corner, shirts                             change from $13,000 to $15,000
  • Other income                                                          change from $10,000 to $6,000
  • Under other expenses-Ducky Derby, etc.              change from $2,000 to $5,000

President Gary reminded each Director to complete the form for Tim Wesling for each Pediatric Hospital so checks can be written and dispersed. Tim needs the complete name of the hospital and their Fed. Tax ID#.

Jon Rife passed out invitations to the Board to attend the Charter Night for the Kiwanis Club of Hurley on Sept. 6, 2016.

Meeting adjourned at noon.
Respectfully submitted,
Nancy Simonelli