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03-02-07 WAF Min WESTLAKE ACADEMY FOUNDATION Board Meeting Minutes March 2, 2007 Attending: Rick Rennhack, President; Ange Bumgarner, Chis Noonan, Becky Rogers, Julie Timmerman, Laura Wheat. Lawson Associates: Missy Gale,Barbara McColm,Ellen Ray L Rick Rennhack called the meeting to order at 8:37 a.m. IL Minutes from the February 2, 2007 Board Meeting were amended as follows: A. Under IL A. should read"IRS Letter of Determination"to replace "annual audit". B. Under L Delete `Becky Rogers serves on the Texas Student Housing Board". She resigned. C. Chris Noonan moved, Laura Wheat seconded the minutes be approved as amended. III. Financials were discussed. It was suggested that Traci Billings and Carol Langdon report on Gallery Night at the next meeting. At this time it appears Gallery Night will net approximately $85,000, just slightly less than budgeted. Sponsorships were down while ticket sales were up. IV. Capital Campaign report was given by Missy Gale. The Board and Steering Committee have been solicited. The next to be solicited are the Board of Aldermen and the parents identified as higher level. Currently the pledges are $422,000. The two events in February went very well. The next event is March 20, at the Steger's home in Stagecoach. A. We are approximately a semester behind and the next leadership gift should be coming from the parents group. B. Emphasis should be given to defining a strategy for Blacksmith and how to incorporate it with the building campaign giving which is "above and beyond" an annual gift campaign. C. We must be clear that our goal is $5 million. The Town is a partner in providing interim financing which will enable the construction to begin on time. D. Goal is to raise $1 million between now and May. E. We can begin seeking corporate help during the summer. F. Miss Ledak, government reporter for the Black Cow, needs to know that the Aldermen passed a resolution to allocate $10,000 to retain the architect for the Arts and Science Centre. V. President's report was a presentation on how to improve communications between HOC, WAF, Black Cow, and WAAC. It includes each group sharing their vision, missions, objectives, projects, legal, communication strategies, and organizational liaison. His plan if adopted by each group could bring clarity and understanding. VI. Directors report was given by Ellen Ray. A. The Web site page on the WA site will be up shortly. Suggestion was made to add Gallery Night sponsors to our page. B. Bailey Banks and Biddle party was a success and raised $2400 for the Capital Campaign. C. The Executive Director position will be posted on the several Web sites. Laura, Becky, and Chris, and Ellen will serve on the selection Committee. VII. The next meeting due to Good Friday is on April 13, 2007 in the Board Room. VIII. The meeting was adjourned at 10:15 a.m.