KAPPA FOUNDATION NEWS: THE STATE OF THE FOUNDATION
and we made our first $25,000 payment in 2016 and will make our next payment this year.
community engagement as a result of this direction. We welcomed three new members into this club this year at our K100 reception at the 83 rd Grand Chapter Meeting. The Foundation also finalized our Strategic Plan with our outside consultant, to ensure that our future direction and our purpose is clear to all we engage with. Ratification will be at our Jan annual meeting in 2018. Thanks Brother Viney for leading this project. In the area of responding to natural disasters in 2017, your Foundation in partnership with donors giving to the IKARE program, along with W.W. Grainger, responded swiftly to those in need. Whether in Baton Rouge, Louisiana. or Houston, Texas, our response was not only financial, but also with goods and supplies to help families take care of their homes. Our 1 for 1 match Program with Grainger ensured that help was given quickly to brothers and their families ensuring that their needs were met at a critical time. Our partner, W.W. Grainger, also gave $500,000 and $250,000 to those communities as well on our behalf through the Red Cross to further support their recovery. In the area of scholarships, each of the 12 Provinces received over $3,000 from the Hillary H. Holloway Endow- ment Fund for undergraduate scholarships. We are proud to have facilitated this based on our investment decisions yielding record returns for 2017. The Foundation has also been busy with obtaining and executing Grants based on our partnership with the Kellogg Foundation, and our newest Partnerships with both the Ke- nan and Walton Foundations. Under the leadership of our Executive Director L-Mani Viney, and our Treasure Ronald Berryman, both of the three-year grants are worth together over $300,000 over a three-year period. Both grants are focused on college prep, and helping to build character and confidence with our young African American youth across the country. You will also be pleased to know that our endowment funds have increased by over $500,000 or 33% ending 2017 at $2 million. The Foundation’s total assets increased by 1 million over the last two years. From fiscal year 2015 which was $1,576,237 to $ $2,743,020 fiscal 2017. Our endowments include - Million Dollar Club, H.H. Hol- loway Fund, Senior Kappa Fund, and Restricted Scholar- ship Funds. Our Grants with both the Kenan, Kellogg and Walton Foundations make up the rest of our restricted categories along with our “Network for Good Fund “ as well. We are also pleased to have supported the Fraternity’s goal of $750,000 to the African American Smithsonian Institute Museum. The Foundation pledged $125,000 over five years,
We also have support Kappa Kamp ($10,000) , ULI ( $10,000), St Jude ($10,000) and the Diamonds in the Rough program with the Kellogg’s Grant. Another partnership this year of note was with the Reginald Lew- is Foundation. Our Dear departed brother’s family in conjunction with PBS, asked the Foundation to help facilitate raising funds from private donors to support this documentary. The movie will focus on the ground-breaking achievements of this African American Business giant who put together the first billion-dollar acquisition by a person of color. Lewis bought Beatrice Interna- tional Foods from the Beatrice Companies for $985 Million. It was the largest African American owned and managed business in the US at that time. We were proud to work with his family to accomplish this goal, and the Foundation will be featured in the credits of the documentary. The Foundation also focused on restructuring our infrastructure this year. We wanted to ensure that our financial accountability and customer service is second to none. We have moved from our shared services support with IHQ, to our own staff based at IHQ. We have also hired an outside accountant to support our day to day operations financially. These improvements along with technical investments as well, will continue to move the foun- dation to have greater accountability and responsiveness to our donors and supporters. We welcomed Cheryl Davis as our staff Executive Assistant, and Brother Greg Williams as our outside accountant to the team. Both report to our Treasurer, Ron Berry- man. In our next year of service, we will focus on the continual build out of our national signature event programs, grant pursuit and execution, along with corporate partnerships and further organi- zational restructuring. We will be launching several new services and programs based on national partnerships to give more back to Our communities across the country. We will also be reinstating Alumni Grants for community based programs in 2018, as part of our continuing to invest back into programs that align with our strategic direction. It is for these reasons and results that we need our largest donors to continue to support us and give. We cannot accomplish these results year over year without your contributions and participa- tion in some small way with our events and donation request. We believe that we are moving in a positive direction, and we will continue to build on the legacy that started in 1981 under Past Grand Polemarch Oliver S. Gumbs the 23 rd Grand Polemarch.
Thanks as always for your support of your Kappa Alpha Psi ® Foundation.
Publishing achievement for more than 100 years
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