KAPPA FOUNDATION
When natural disasters struck this past year domestically and internationally where brothers reside, your Foundation spearheaded the response on behalf of the Fraternity. With the help of gener- ous donors from the Fraternity, and with our Corporate Partnership with W.W. Grainger, those brothers did not face those obstacles alone. Whether it was the Flooding in North Carolina, to the Hurricanes of Florida and Alabama, to the Hurricanes of the Virgin Islands, your Foundation responded with goods, supplies and monies totaling over $25,000 given directly to brothers to help them and their families recover their daily lives. The Foundation has been and continues to be a Major supporter of Kappa Kamp which was held in Dallas this year at Paul Quinn College. I had the privilege of being one of the guest speakers this year and I was very impressed with the program and curriculum that our Brother Maurice West, Dean of Men and External Affairs and the school was delivering to these young men from across the country. A great program that covered many topics over a two-week period with business cases and exposure to several fields of human endeavor for these young men. Our gift of $10,000 helped this program to be executed and we should do more in the future going forward. The Foundation once again supported the Undergraduate Leadership Institute with a $20,000 sponsorship in 2018. We have continued to support this program each year which represents the best of our young Kappa men from across the country. They came together to learn about leadership and careers for their future, and the Foundation is pleased to support this worthwhile program. In the area of national scholarships, the Foundation again provided funding to all 12 Provinces of over $28,000 for disbursements in 2018 from the Hillary Holloway
Endowment. We also provided scholar- ships from the Dubose Family Scholar- ship fund and have funding available from the Adkins Family of over $50,000. This along with the $100,000 generated for scholarships and Kappa League sup- port from the Building the Dream Klas- sic, has been the most given in any year since the Foundation has been formed. Over the last three years, the Foundation has also supported the Smithsonian In- stitute pledge as well. Our commitment over five years is $125,000 of which we have given $75,000 year to date. The total amount given in 2016 with the Fraternity was $150,000; in 2017, it was $144,000 with $170,000 given in 2018. That is all toward our collective pledge of $830,000 from Kappa Alpha Psi. We are committed to fulfilling our year over year pledge to help the Fraternity meet its five-year goal pledged. From a financial health point of view, the Foundation is strong, and respon- sible with the financial assets over which it has responsibility. Our total Assets and Liabilities stand at $3,370,067 for 2018 which is a 13% increase over 2017 which was $2,942,267. Our net revenue over expenses was $415,713 for 2018. We have taken over all financial aspects of the Foundation and reconciled all accounts associated with our day to day operations from the Inc. side. We have set up 10 daily checking accounts for all of our programs so that our operating checking account is clear of any encum- bered funds. Our accounting procedures are solid and transparent for all transac- tions both payables and receivables for the Foundation.
to all with whom we do business. She is responsive and her follow up and follow through are how we should be doing business with those that support us. Our outside accountant, Brother Greg Williams, has done a marvelous job working with Brother Berryman and Cheryl to ensure that our house is in order on a daily basis and that our books are accurate. We have rectified all audit recommendations, and have all policies and procedures in place in managing the assets of the Foundation. The Foundation has also brought on an outside specialty partner to handle our social media, website, and market- ing for the Foundation. Mahogany Xan Communications LLC, LaTricia Woods, President and owner is now our key partner. We have also partnered with Advanced Meeting Solutions, Mona M. Hudson, President, to also handle all of our signature events and productions for the Foundation. These two organizations will ensure that our programs to the public will be first class and produce the professional experience that those who support us deserve. In 2019 we will focus on the following activities to move our “New Way For- ward” Strategic journey onward: Implementation of our New interactive software to handle our Grant Appli- cations, Senior Kappa Endowments Grants, Scholarship Applications and Event Tickets for Signature Events. 1. Flawlessly Execute our Celebration of Achievement National Signature Event at the Grand Chapter meeting 2. Launch our Capital Campaign to fund Community Grants, Additional Scholarships, and Operational Support. 2019 Focus
Infrastructure Changes
Our Headquarters staff has done a re- markable job this year bringing customer service and responsiveness to our cus- tomers to an all-time high. Our Execu- tive Assistant, Cheryl Davis, has done a great job representing the Foundation
Publishing achievement for 105 years
THE JOURNAL | 39
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