Fwd: Alpha Phi Chapter Fund

[Scott Hamil]

FYI - If any of yall want to get involved with the board to direct the chapter educational fund $$.  It is currently about $40k, with a goal of getting up to $75k so it is self-sustaining.  It is a low effort way to give back some time. 

Happy to connect you with Allan if interested.  

SGH 

---------- Forwarded message ---------
From: Allen Yee <alle...@gmail.com>
Date: Tue, Jan 14, 2025 at 10:38 AM
Subject: Alpha Phi Chapter Fund
To: Christopher Hardwick <char...@buildtechnologygroup.com>, Jon McKnight <jmck...@southeasthousing.com>, Brian Reed <bree...@gmail.com>, Chris Sharpe <chris.r...@gmail.com>, Scott Hamil <scott...@gmail.com>, Carson Dickens <wcarson...@gmail.com>
Cc: Mark Reed <wmr...@gmail.com>

Happy New Year Gentlemen!  Please see below and attached. This is a report of the financial position of our chapter fund at the Sigma Pi Educational Foundation.  

For background, Mark Reed (cc’ed), Clark Britt (RIP) and I created this fund in 2008 to celebrate the Chapter’s 60th Anniversary. While it was my hope to grow it to $75K by the time our chapter celebrated its 75th Anniversary (in 2023), that never really happened. National sold the headquarters and a lot of alums, including myself who were enthusiastic about the fund, started drifting away. And the chapter also had some ups and downs during that time which caused interest to wane. Nevertheless, it’s grown to a respectable amount. About $40,000, and that’s taken an account that we’ve been aggressively  pulling about $4000 out of it a year for the last five or six years. Had we not done that we would actually be pretty close to the $75,000 goal.  

If Mark is agreeable, I think it’s time to start looking at this fund again. If we keep spending at the current rate, it’ll get to depleted so it is no longer functional within 8-20 years which I don’t think we want to happen because the awards and scholarships we’ve been pulling out of it have been very well received. I’d like to get some new people involved. 

I’m gonna put a little more money into it, because the chapter seems to be in a good sustainable place right now. And that might be an understatement as I think it might actually be the strongest that it’s ever been rivaling the 1960s era. This is a good vehicle to support the chapter - and frankly our best option. If we can get it to $75k-$100K it can be self-sustaining. But in addition to raising a little bit more money, we need to manage it more prudently instead of just pulling out $$$ and watching the balance so dwindle down to were it can’t function.

This is where you guys come in. We need some new people involved. Again, not asking for money, of course it would be welcome. But what we need is to create a new local advisory board so that is not just me managing this money. The fund is supposed to have such a board that directs expenditures. But over the last few years it’s really been just me and Mark, and more recently really just me directing the fund, awarding, the same scholarships and small stipends every semester. 

I’m reaching out to you guys because I know you well. You’re smart and have the best interest of the chapter in mind. I also think that you share my vision of how we can support the chapter via this very simple and sustainable vehicle. 

So what I’m asking is for y’all to consider serving on the fund board. There’s not a lot to do, except for keep track of the financial positions and recommend disbursements twice a year. Most of our business can be done over email; and we can have maybe like one Zoom call a year to discuss strategy.  Let me know what you think.  Would love to have y’all helping with this.

It’s a lot like a donor advised fund if you are familiar with that vehicle - the money technically belongs to the foundation; but by agreement, we can direct it to allowable grants so we remain in control. I’m not always a fan of nationals, things there seem to have stabilize some, and it provides us a tax deductible vehicle that is well managed by an outside advisor, that we could not make happen on our own.  So that is why there is little work other than what I described above and putting your name on it. I also think there’s a chance Therese a little bit more money using social media emails through our networks. Honestly for not looking to raise a huge amount of money, so a few hundred and $500 gift would actually make a big difference. So the only other ask, would be for y’all to share be at your networks such as posting on the various social media groups for the chapter

Let me know. If you are interested, I’ll get the group together for a short zoom call and walk you through the details.

Thanks in advance for your consideration.

IST

Allen

Begin forwarded message:

From: dandaug...@gmail.com
Date: January 13, 2025 at 1:56:58 PM EST
To: Allen Yee <alle...@gmail.com>
Cc: Mike Long <michae...@gmail.com>, Nik Chillar <n...@chillar.com>
Subject: Creative Planning Q4 update - Alpha Phi Chapter



Allen,

 

Sharing this with you that we received from Creative Planning today.

 

Let Nik (VP of Investments for the Foundation) or I know if you have any questions.

 

Thanks,

 

Daniel Daugherty

Treasurer – Sigma Pi Educational Foundation

 

 

 

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Scott Hamil

(404) 637-4080