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03-18-19 WAF Min WESTLAKE ACADEMY FOUNDATION Board Meeting March 18,2019 Board Members in Attendance: Debbie Kraska, Sean Shope,Wendy Greenwood,Laura Luckett,Abu Sieg,Karen Stoltenberg and Leah Rennhack Others in Attendance: Debbie Piper,Amanda DeGan, Ginger Awtry, Kyle Clift-investment manager with Morgan Stanley, Shelly Myers and Julie Kelly I. D. Kraska called the meeting to order at 8:38AM. 11. Motion to approve minutes of February 11,2019 meeting by K. Stoltenberg, second by A. Sieg. Motion carried. III. Financial Report • K. Clift circulated copies of Morgan Stanley's annual report of WAF investments. Reviewed market volatility over the past two years,particularly in regard to last year's market fluctuations. • Discussed WAF funds' performance over past 12 months and criteria for investment choices. • Reviewed Morgan Stanley's recommended sale of funds invested with Baird Core Plus bond mutual fund and purchase of Prudential Total Return Bond mutual fund. • Motion to approve recommended investment change by S. Shope, second by K. Stoltenberg. Motion carried. • S. Shope reviewed Financial Analysis with emphasis on large expenses such as Gallery Night costs and payments made this month. The Foundation currently has over$2.3 million in assets. • L. Rennhack moved to approve Financials, second by A. Sieg. Motion carried and Financials approved. IV. Marketing Committee • A. Sieg reported on Gallery Night social media campaign. The WAF Facebook page currently has 542 followers, Twitter— 194 and Instagram—96. Since January,we have made 217 posts with 40,000+impressions. • W. Greenwood solicited feedback on Gallery Night marketing, (e.g., sponsor pins). • The next postcard will provide a Gallery Night recap,the new school bus and Blacksmith Annual Fund statistics. • The committee has also begun work on"gift in action"grant posters for upcoming VIP party. V. Development Committee • Blacksmith Annual Fund o A. Sieg stated that BAF fundraising is currently at$1.063 million in gifts/pledges with 80%of all families and 77%of new families participating. o Discussed solicitation strategies for remainder of the year. • Gallery Night Report and Feedback o D. Kraska reported that Gallery Night event feedback has been positive. o S. Myers informed the board that nearly$8,200 remains to fully fund the bus and parking pad requirements. Discussed funding the difference with WAF monies designated for Academy grant funding. o L. Rennhack moved to reallocate Grant funds of up to $8,200 to cover the remainder of funding needed for the bus package, second by L. Luckett. Motion carried. • VIP Party Update o L. Luckett stated that committee is still researching locations for party,with the Vaquero ranch house and Marriott Solana as possibilities. Proposed date is May 2"d VI. President's Report • None VII. Executive Director's Report • None Other Business None K. Stoltenberg moved to adjourn the Board meeting, second by L. Luckett. Motion carried. Meeting adjourned at 10:26AM. Next Meeting: Monday,April 15,2019 at 8:30 AM, Town Hall of the Town of Westlake