Endowments

Contributions are the lifeblood of the Foundation’s work, enabling us to generate the investment income that funds our programs.

While cash donations are the most common form of giving, insurance, memorial gifts, charitable trusts, stocks and bonds are other methods. One of the most gratifying ways for donors to support lifelong learning is by giving to or establishing an endowment fund or fellowship within the Foundation.

These funds add a whole new dimension to the concept of nurturing lifelong learning because they allow the benefactor to reaffirm his or her commitment to a particular niche in education, by establishing specific criteria and guidelines for awarding the funds. Endowments and fellowships are also an excellent way for donors to honor the memory of a friend or loved one.

The Alpha Kappa Alpha Educational Advancement Foundation offers an opportunity for members, organizations and corporations to leave a lasting legacy through its Endowment Program. An endowment is a restricted, invested fund from which the interest and dividends earned are used for scholarships awards. The principal is never touched, thereby providing a “scholarship” nest egg for years to come. Special donor stipulations may be used to establish the fund to support a personal commitment, honor a loved one or support a specific profession.

For more information, download the Leaving a Lasting Legacy Endowment Brochure.


You are in control!

  • You establish the eligibility criteria.
  • You determine the amount and frequency of awards given.
  • You decide the name of the fund.
  • You may be involved in the selection process during your lifetime, if you wish.
  • You decide when the first award is to be made.
  • You determine who receives annual reports on the fund.

 


The first step

A minimum of $1,000 may be submitted to “initiate” an endowed fund. This denotes intent and identifies the name(s) of the donor(s). Once the fund reaches $5,000, it is considered “established,” becomes part of the Foundation’s restricted funds and begins to draw interest, which is compounded to facilitate growth and eventual capitalization. No awards are made from the fund until it is “capitalized” at $20,000. Simply put:

  1. Initiate $1,000 - $4,999 (Temporarily restricted)
  2. Established $5,000 (draws interest, becomes permanently restricted)
  3. Interest Applied $5,000 - $19,999 (No awards made)
  4. Capitalized $20,000 (awards made based on actual net interest and dividends)

What’s next?

  • Complete an Endowed Scholarship Fund Agreement (see forms download section of the Web site or call the EAF office).
  • Submit the Agreement with the initial check, made payable to AKA-EAF, with the name of the endowed fund noted.
  • Mail the Agreement and check to: AKA-EAF, 5656 S. Stony Island Ave., Chicago, IL 60637

What’s in it for me now?

Recognition is given every step of the way!
  • Fund Established ($5,000) - a Certificate of Endowment
  • Fund Strengthened ($10,000) - the Jade Award
  • Fund Sustained ($15,000) - the Emerald Award
  • Fund Capitalized ($20,000) - the Green Diamond Award

The first three recognitions are presented at EAF events at the Sorority’s Regional Conferences. The Green Diamond Award is presented at the EAF event at national venues.

What are the benefits?

  • A modest amount is required to establish the fund.
  • The principal remains in perpetuity—it will always be there for awards (irrevocable).
  • Administrative costs and management are absorbed by the Foundation.
  • Eligibility and selection criteria are established by the endowment holder and can be changed at any time.
  • The endowment holder or his/her designee selects recipients.
  • All donations to the fund are fully tax-deductible.


LEGACY ENDOWMENTS

Creating a “Legacy Endowment” is an excellent way to encourage family members who are Alpha Kappa Alpha “sisters” to pool funds for prosperity. It can be used to promote endowment-building at the Sorority’s Regional Conferences and other venues and is a personal and heartfelt way to create a “lasting legacy” for family members under one initiative.

Download Endowment Scholarship Application here. [PDF]

Capitalized Funds $20,000 or More

(Click on a fund title below to view criteria. [PDF])

Central Region

Far Western Region

Great Lakes Region

Mid-Atlantic Region

Mid-Western Region

North Atlantic Region

South Atlantic Region

South Central Region

South Eastern Region

 

EAF–touching the lives of all kinds of people.