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02-12-18 WAF Min WESTLAKE ACADEMY FOUNDATION Board Meeting February 12,2018 Board Members in Attendance: Ahu Sieg,Debbie Kraska, Sean Shope,Wendy Greenwood,Karen Stoltenberg,Kevin Hansen,Christine Ross,Zan Jones,Leah Rennhack and Leigh Sansone Others in Attendance: Kyle Clift with Morgan Stanley, Shelly Myers and Julie Kelly L D. Kraska called the meeting to order at 8:39AM. 11. Motion to approve minutes of January 22,2018 meeting by K. Hansen, second by K. Stoltenberg. Motion carried with typo correction in next month's meeting date. III. Financial Report • K. Clift with Morgan Stanley presented update regarding progress of Endowment investments and to discuss status of financial markets. He reported that 2017 was a superior year for markets, and that Morgan Stanley is predicting a low chance of market fall. Discussed some changes in investments to stay compliant with WAF Investment policy. • S. Shope discussed financial reports with emphasis on recent Blacksmith Annual Fund revenues of over$35k and Total Assets of over$2.2 million. • Reviewed Baja budgeted revenue of$88k; staff will send invoices to outstanding sponsors and donors. • Motion to approve Financials by K. Stoltenberg, second by K. Hansen. Motion carried. IV. Marketing Committee • W. Greenwood reported that current primary focus of committee is Gallery Night(GN) marketing. Next postcard is also being created to hit after spring break. • Z. Jones discussed recent video, "What to Wear", created by D. Titzler to promote GN with social media posts continue as primary source to market sponsors, donations and the event. V. Grants Committee • L. Rennhack presented grant request for Fiction/Non-Fiction Leveled Readers for Grades 6-8. Motion to approve fully funding request up to $9,428 by L. Rennhack, second by K. Stoltenberg. Motion carried. • S. Myers presented Math& Science Plaza Add-On expenses. Provided background on McCaskill Design Group's bid changes. S.Myers will discuss with Troy Meyer possibility of attending next meeting to discuss in detail the increases being proposed. VI. Development Committee • Blacksmith Annual Fund o K. Stoltenberg offered that Board will refocus efforts on non-donor families following Gallery Night event. • Gallery Night o S. Myers reported that sponsorships currently total$120k and that 17 potential Live Auction items have been donated. o C. Ross encouraged the Board to help secure silent auction and hidden treasure donations. o This year's event will not include Heads or Tails event or Best of Live,but Raffle tickets will be sold to win a specific Live Auction-level item. o Volunteers will be needed for check-in and check-out and for event set-up on the Wednesday prior to event at 3pm. o S. Myers presented school-requested Fund an Item to include: ➢ PYP science lab in 2 rooms in the PYP2 building, ➢ Dining Hall overflow room conversion to a STEAM/Physics for Secondary,and ➢ Conversion of a storage space to create a Keller Police Department substation located on campus. o Marketing title will need to be created to promote Fund an Item. o S. Myers will obtain estimation of cost and timeline, and forward to Board. VII. Governance Committee • K. Stoltenberg and D. Kraska shared remarks and insights from interview with prospective new Board member,Mr. Michael Colby. • Motion to approve M. Colby's application for WAF Board by K. Stoltenberg, second by L. Sansone. Motion carried. VIII. President's Report • D. Kraska expressed appreciation for assistance with Gallery Night, and reiterated need for silent auction items. Committee is planning Gallery Walk preview of classroom-created art outside PYP during afternoon pick-up. IX. Executive Director's Report • None. Other Business • None. K. Stoltenberg moved to adjourn the Board meeting, second by K. Hansen.Motion carried. Meeting adjourned at 10:41 AM. Next Meeting: Monday,March 19,2018 at 8:30 AM,Lee Fieldhouse,WAF