December 2024 District 196 Foundation Meeting Summary
Date: December 10th, 2024
Attendees: Eleven Board Members
Welcome and Introduction
The District 196 Foundation held its final board meeting of the year via Zoom. Chair Hue Nguyen led the session, which included discussions on financial updates, fundraising efforts, funding requests, and mission statement revisions.
Financial Update
Treasurer Sarah Jackson provided an overview of the Foundation’s financial standing:
Balance Sheet: The Foundation holds an equity balance of $211,382.60 (excluding liabilities for Apple Valley High School and Valley Middle School).
Budget to Actual: The Foundation is operating at a planned deficit midway through the fiscal year, aligning with the approved budget.
Profit and Loss: Current figures reflect anticipated trends.
Financial Policy Update: Sarah proposed a policy outlining the board's authority and a minimum fund balance of $5,000, with a 5% asset spend-down threshold. The motion passed unanimously.
Fundraising Efforts
Fundraising discussions covered recent donations and upcoming plans:
Monthly Donations: October brought in $5,255, with an additional $545 in December to date. While "196 Gives" donations are down by $13,000 compared to last year, this trend aligns with budget projections.
Silent Auction Planning: The silent auction is tentatively scheduled for late February, with approximately 30 items planned. The board discussed adding interactive elements, like bingo, to encourage participation. Members agreed to source donations from local businesses, school communities, and personal talents.
Club196 Donor List: The board decided to separate active donors from past contributors to maintain clarity on the website.
Funding Approvals
The board reviewed and approved funding for two key programs:
Every Meal: $31,250 allocated.
Summer Books Program: $18,750 allocated.
Mission Statement Revision
The board revisited the Foundation’s mission statement to better align with the district's updated mission. After discussion, members drafted a streamlined version reflecting the Foundation’s role in addressing gaps the district cannot fill.
Other Discussions
The board agreed to continue publishing blog updates, affirming their effectiveness in increasing transparency.
A February retreat was deemed unnecessary; a longer meeting will suffice if needed.
Adjournment
The meeting concluded with a motion to adjourn, with members leaving energized for the year ahead and focused on finalizing silent auction preparations.