CAPITAL DISTRICT KIWANIS FOUNDATION, INC.
Meeting of the Board of Directors
November 12, 2016

The 206th Meeting of the Board of Directors of the Capital District Kiwanis Foundation was held on November 12, 2016 at the Fredericksburg Hospitality House Hotel and Conference.
President Gary opened the meeting at 10:00 AM.
Nancy Simonelli led the Pledge of Allegiance.
Charls Marks gave the invocation.

Introduction of Guests – Bob Kauffman, President-Elect of the Frederick Club

Roll call – Charlie Adams – 15 Board members in attendance.

The following members were in attendance:

Charles Adams Gary Boswell Nancy Simonelli
Tim Wesling Roger Diehl Charles Marks
David Lurie Kelly Boswell Tom Varner
Kern Smith Andrew Wong Dennis Grubbs
Jon Rife Sue Vona Hiawatha Nicely

Approval of agenda – Motion to accept the agenda as presented was made by Jon Rife. 2nd by Dennis Grubbs. Motion passed.
Minutes of the August13, 2016 meeting – Minutes were emailed to board members. Motion to approve the minutes as circulated was made by David Lurie. 2nd by Jon Rife. Motion passed.

Treasurer report: Tim Wesling emailed the Treasurer’s report to the board members. The treasurer’s report was accepted.

CDKF balance Sheet Nov 1, 16
ASSETS
Current Assets
Checking/Savings
Bank of America 65,372.84
Total Checking/Savings 65,372.84
Total Current Assets 65,372.84
Other Assets
Lombard Sec 399
Certificates of Deposit
Bank of China NYC 0.8%, 8/3/17
Change in Value 25,016.75
Total Bank of China NYC 0.8%, 8/3/17 25,016.75
Bank China NYC 0.9%, 1/20/17
Change in Value 50,060.00
Total Bank China NYC 0.9%, 1/20/17 50,060.00
Cap One 0.9%, 2/13/17
Change in Value 75,102.75
Total Cap One 0.9%, 2/13/17 75,102.75
Bank China NYC, 0.5%, 5/20/16
Change in Value -25,002.50
Bank China NYC, 0.5%, 5/20/16 - Other 25,002.50
Total Bank China NYC, 0.5%, 5/20/16 0.00
Discover Bank CD, 0.3%, 6/4/15
Change in Value -75,002.50
Discover Bank CD, 0.3%, 6/4/15 - Other 75,002.50
Total Discover Bank CD, 0.3%, 6/4/15 0.00
Everbank CD, 0.3%, 3/27/15
Change in Value -25,002.50
Everbank CD, 0.3%, 3/27/15 - Other 25,002.50
Total Everbank CD, 0.3%, 3/27/15 0.00
G Sachs CD, 0.3%, 6/18/15
Change in Value -50,031.90
G Sachs CD, 0.3%, 6/18/15 - Other 50,031.90
Total G Sachs CD, 0.3%, 6/18/15 0.00
G Sachs CD, 0.45%, 12/31/15
Change in Value -50,036.80
G Sachs CD, 0.45%, 12/31/15 - Other 50,036.80
Total G Sachs CD, 0.45%, 12/31/15 0.00
Total Certificates of Deposit 150,179.50
Equities
Nuveen Dividend (NZF)
Change in Value 5,537.04
Nuveen Dividend (NZF) - Other 33,452.86
Total Nuveen Dividend (NZF) 38,989.90
Total Equities 38,989.90
Mutual Funds
AF Cap Income Builder (CAIBX)
Change in Value 3,565.25
AF Cap Income Builder (CAIBX) - Other 99,177.44
Total AF Cap Income Builder (CAIBX) 102,742.69

11/01/16 Balance Sheet
Accrual Basis As of November 1, 2016
Page 1
Nov 1, 16
Allianz NFJ Div Value (PNEAX)
Change in Value 15,867.65
Allianz NFJ Div Value (PNEAX) - Other 72,554.98
Total Allianz NFJ Div Value (PNEAX) 88,422.63
Capital World G&I (CWGIX)
Change in Value 9,015.99
Capital World G&I (CWGIX) - Other 67,728.24
Total Capital World G&I (CWGIX) 76,744.23
Inc Fund of America (AMECX)
Change in Value 10,173.99
Inc Fund of America (AMECX) - Other 40,665.05
Total Inc Fund of America (AMECX) 50,839.04
International G&I (IGAAX)
Change in Value -215.46
International G&I (IGAAX) - Other 32,422.78
Total International G&I (IGAAX) 32,207.32
JPM Mid Cap (JCMAX)
Change in Value 7,544.32
JPM Mid Cap (JCMAX) - Other 18,500.47
Total JPM Mid Cap (JCMAX) 26,044.79

New Perspective (ANWPX)
Change in Value 15,677.14
New Perspective (ANWPX) - Other 63,316.43
Total New Perspective (ANWPX) 78,993.57
PIMCO Total Return (PTTAX)
Change in Value -1,487.88
PIMCO Total Return (PTTAX) - Other 31,342.52
Total PIMCO Total Return (PTTAX) 29,854.64
Small Cap World (SMCWX)
Change in Value 21,395.88
Small Cap World (SMCWX) - Other 79,504.37
Total Small Cap World (SMCWX) 100,900.25
Total Mutual Funds 586,749.16
Bank Savings 52,682.69
Total Lombard Sec 399 828,601.25
Lombard Sec 767
Certificates of Deposit 767
China Bank CD, 0.65%, 8/20/15
Change in Value -13,009.91
China Bank CD, 0.65%, 8/20/15 - Other 13,009.91
Total China Bank CD, 0.65%, 8/20/15 0.00
Total Certificates of Deposit 767 0.00
Bank Savings 13,479.51
Total Lombard Sec 767 13,479.51
Total Other Assets 842,080.76
TOTAL ASSETS 907,453.60
LIABILITIES & EQUITY
Equity
Opening Balance Equity 66,476.25

11/01/16 Balance Sheet
Accrual Basis As of November 1, 2016
Page 2
Nov 1, 16
Perm. Restricted Net Assets
Chuck Kopeland MYF 12,993.94
Founders Society 115,287.00
Life Memberships 286,635.00
Memorials 64,502.00
Tablet of Honor 71,641.00
Total Perm. Restricted Net Assets 551,058.94
Temp. Restricted Net Assets
Chuck Kopeland MYF 307.65
Ellis Stroup Scholarships 1,000.00
Emergency Fund 3,498.00
Other Gifts Trust Fund 2,214.36
Total Temp. Restricted Net Assets 7,020.01
Unrestricted Net Assets 295,567.40
Net Income -12,669.00
Total Equity 907,453.60
TOTAL LIABILITIES & EQUITY 907,453.60

Life Membership – Charles Adams reported 9 new life members since the last meeting.

Caring Corner - Nancy Simonelli reported that flyers for the  caring Corner will be sent out starting in November, then once in December, every other week in January and once a week in February. CDKF License Plate frames are in - 500 to sell at $10 each.

Ducky Derby – Bob Cassada has resigned from the Board so a new Ducky Derby Chairman is needed.  $50 gift cards are needed from all directors as prizes for the Ducky Derby.
Finance Committee Report- Gary Boswell reported that we have 2 CD’s to be rolled over. Motion by Sue Vona to roll over the 2 CD’s. Second by Hi Nicely. Motion passed.
Financial Advisor Report- Bob Cressy reported that it was brought up at the last meeting to set up criteria for soliciting a portfolio manager. Bob has served as the financial advisor for 18 years. He is a licensed broker and advisor.  September 30, 2016 was the end of Bob’s current term and during his tome of service to the CDKF Board since 1998 there have been no complaints. He resigned as Financial Advisor as of September 30, 2016. Gary Boswell said that it was not the intention of the board to say anything that was not reflective of Bob’s service. The purpose was to have the board following what IRD requires for the 990 forms. He thanked Bob for his service.

Addendum by Bob Cressy to the minutes - Click Here

Grants- David Lurie reported that there are two grant requests from the Frederick Kiwanis Club.

  1. Blessings in a Backpack- A food distribution through the school system. Request is for $1,000. Not recommended by the Grants Committee.
  1. Camp Jamie—A grief camp that allows a grieving child to be with other kids in a similar situation. It is an overnight camp with bereavement counselors for the weekend. Each Child has a big buddy. Committee recommended the grant not to exceed $1,000.

The Frederick Kiwanis Foundation has donated $4856 and the club has donated $144. Contributions from club members have brought the donation up to $8,000.
The board voted to grant $1,000 to Camp Jamie.

New Business

$3.00 per member contribution -Gary Boswell reported that a past governor stated that the $3.00 per member contribution was discussed at the Division Council meeting. Presidents felt that the CDKF gave only to the hospitals. Clubs are stripped to give the $3.00 per member contribution. Hi Nicely stated that in his division, smaller clubs have a problem with officer turnover and don’t have current information on what the CDKF does. He, as a Director, is trying to educate the officers on what CDKF does.
Tom Varner commented that the directors are not doing their job in all 17 divisions.  Nancy Simonelli stated that the directors need to team with the Lt. governors. Secretary-Treasurer Varner also said that directors should be at every division council meeting. The void becomes even greater if directors do not do their job.
Dennis Grubbs stated that the Lt. Governors need to have the CDKF Directors included in their agenda for division council meetings.
We need to advertise the CDKF Website to educate Kiwanis members about what the CDKF does.

Thank You to Bob Cressy- Gary Boswell stated that he has known bob since 1982 and greatly appreciated his service to the CDKF and Kiwanis.

Teenager of the Year Scholarship- Andrew Wong made a motion that the scholarship be increased to $2,500. Second by Roger Diehl. Motion passed

There being no further business, the meeting was adjourned. The next Board meeting will be on February 11, 2017 at 10:00 AM at the Fredericksburg Hospitality House.

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