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07-13-07 WAF Min WESTLAKE ACADEMY FOUNDATION Board Meeting Agenda July 13, 2007 Attending:Rick Rennhack,President,Ange Bumgarner,Angie Gofredo,Bill Greenwood,Chris Noonan,Becky Rogers,Laura Wheat, Lawson Associates:Missy Gale and Barbara McColm. L Rick Rennhack called the meeting to order at 9:50 a.m. IL Executive Session—no session was needed at this time III. Gallery Night Report A. Ange Bumgarner reported that preliminary activities have started. B. The event is set for February 22, 2007 at the Marriott Solana C. The VIP event date and location has not been set. D. Ange indicated that she would like to brand the Gallery Night logo used last year. She mentioned that if she could find another piece of artwork to accompany the logo that she would use that, other wise she would keep the piece that was used last year. E. Sponsor letters will be sent out at the end of the month with calls starting in August. There will be two letters going out this year; one for new and one for previous sponsors. Ange asked the board to assist with this effort by addressing hand written notes to accompany the letters. Several board members noted that they would assist in this effort. F. Changes this year: I. Plated dinner with a fabulous dessert. 2. The Live Auction will start right before dessert is plated. 3. Lower the number of silent auction items 4. Add a concept of "Pick a Paint Brush" — this concept will help keep the number of silent auction items down. Patrons will buy a paint brush and redeem a gift at the prize table. 5. Start student art earlier this year 6. Add an option on the sponsorship forms to allow sponsors to purchase a ticket/table for teachers. 7. Assign hosts to each of the sponsor tables to make them feel welcome 8. Include students in the program(details to be worked out). IV. Minutes from the June 1, 2007 meeting were reviewed. Motion made by Laura Wheat and seconded by Becky Rogers to approve the minutes. Motion carried. V. Financial Report A. Rick Rennhack presented the financials and questions were asked. The board made a decision to table the financials until questions that were asked could be resolved. A motion was made by Laura Wheat and seconded by Becky Rogers to table the financials. Motion carried. VII. Capital Campaign A. Laura Wheat reported that the building is proposed to be open Jan '09. She mentioned that the Mayor and the BOA have decided to ask the voters in November to approve a bond issue for the building. B. Asks to individuals who could possibly give $10,000 and more are moving along. C. Laura indicated that Barbara Brizuela has spoken with the IB program and that the delay of six months will not effect the program. D. There will be five cultivation events planned this fall outside of Westlake and one for the new residence of Westlake. There will also be a teacher/staff event planned in the Fall. E. Grandparents day will be Oct. 4, 2007. A mailing to parents will go out at the end of the month. It was mentioned to talk to some of the current and former Alderman to have them be the "Grand committee of the grandparents". Kelly Bradley will lead this effort. G. Missy Gale reported that it was one year ago since the Feasibility statement was complete and it was time to revisit the campaign plan. She presented the board with an updated Campaign Report..(attached) H. She indicated that currently $600,000 has been raised to date and there is $900,000 left to raise. She also noted that there is about$65,000 raised to date for the $1 million Endowment. L Missy began to talk about the updated Campaign Report with the following points noted: 1. She explained the funding mix which includes: $2.5 million from hotel/motel tax and $1.5 million in campaign support. 2. The committee will continue to make asks to those who have been targeted at $10,000 and above. The general parent campaign will be next Spring. 3. She explained to the board that in order to raise $750,000 by the end of the year only 34 gifts will need to be secured(see page 2) 4. She also suggested in order to raise funds for the Endowment that the Anvil Society needs to kick off this year in the Blacksmith campaign. She suggested 8 gifts of $40,000 would be a great start(see page 2 & 5 for more details). She also noted that the board needs to approve an endowment policy in August or September. She suggested that the board indicates in this policy that they do not spend any money until$1 million is raised. VI. Executive Director Report A. Executive Director, Angie Gofredo,presented her 2007—2008 development report(attached) B. The foundations address will now be 2600 Ottinger Rd. The post office has been notified of the change. C. Black Cow subscription to the residence of Westlake has been approved by the BOA and Laura Wheat D. asked to table the discussion until next month. E. Report on meeting with Town Secretary- Angie met with Kim Sutter and discussed the different policies F. that needed to be taking place in order for the board to remain compliant. All board meeting agendas will G. be posted one week before the meeting, meetings will be held at the school, and all meeting minutes will H. be signed and housed at the town offices. L Sage Software Update- the software has been purchased. Once it is received data input will begin. VIII. President's Report A. New Board Members- Three new members were discussed. Only one, George Ledak, has agreed at this point to serve. A motion was made by Bill Greenwood and seconded by Chris Noonan to send a memo for approval to the BOA. Motion carried. B. Rick informed the board that an ad hoc committee needed to be formed to review the bylaws. No committee was formed as of yet. C. A motion was made by Rick Rennhack and seconded by Becky Rogers to nominate Chris Noonan as president pending if he agrees. Motion carried. D. Chris Noonan thanked Rick Rennhack for his many years of hard work and dedication to the board. Chris advised the board that he is considering the president nomination, but would make a decision sometime next week. E. Becky Rogers announced that she is resigning from the board, which leaves the Secretary position open as well as the current officer opening of Treasurer. F. Rick suggested that we get a letter out earlier this year for Blacksmith and shorten the campaign window. IX. Other Business- no other business was discussed. X.Next Meeting: August 10, 2007 at 8:30 a.m. in the Westlake Academy commons area XL Meeting adjourned at 11:30 a.m. Approved: Date: