The Kingston College Development Trust Fund (KCDTF) is operated as a tax-exempt entity under the corporation laws of Jamaica. The principal goal is the establishment of an inviolate fund, the income from which is used to assist the school in various areas. So far the fund has contributed to KC in the areas of the computer labs at both campuses and the funding of the Douglas Forrest Administrative Building. We believe that the funds legacy will positively impact the lives of many generations of students and faculty and urge our supporters to contribute to the fund.
History & Modus Operandi
The KCDTF was launched on 16th April 1986. It remained dormant for a number of years but was revitalized in 1997 with a stated goal of J$20 million by the end of 2000. Today the Fund has a Capital Sum of $25 million and the investment income from this capital is used by the directors to pay the expenses of the Trust, fund Development Projects at the school and if approved by the members, contribute to boosting the Capital Sum.
It is a collaborative effort of the School, the Parent Teachers Association and The KC Old boys’ Association and all these entities are corporate members who are represented at the general meetings of the Trust. The other members of the Trust include the individuals that subscribed to the incorporation of the Fund (these were officers of the entities at the time) and KCOBA USA Inc who were added by the directors as a corporate member, in recognition of their substantial contribution to the Fund..
The Presidents of KCOBA and the KCPTA as well as the chairman of the board of governors and the principal of the school, by virtue of their office are automatically directors of the Fund. The other directors of the fund are elected by members in general meeting and serve for at most three (3) years before they come up for re-election on a rotated basis. The directors are responsible for management of the business of the Trust Fund and they elect a Chairman who presides at their meetings and at the general meetings of the Trust.
Contributions:
Outside of its investment activities the Trust Fund raises funds through donations and contributions from individuals and organizations and through its principals, that is: the school , the parent teachers association and the various chapters of old boys.
Donations can be made directly to the Fund by check or money payable to:” The KCDTF” and mailed to The Principal, Kingston College, 2A North Street, Kingston C.S.O . Donors resident in the United States can also get a tax advantage if their donation is routed through the KCOBA USA Inc which is a tax exempt alumnus association registered in the United States in support of Kingston College. These checks should be made payable to ” KCOBA USA Inc” and mailed to P.O Box 3917, New York, NY 10185
Management
The main objectives of management are to:
Preserve the capital sum
Protect the assets of the Fund and
Ensure that the school obtains maximum benefit from the Fund’s contributions.
The Trust however is careful not to interfere in the management of the school. The school submits a request for assistance (RFA) in the approved manner and subject to resources and feasibility the Trust provides the funding. The school now has a Development Plan and this should help prioritize the implementation of projects and facilitate ordered development.
Comment:
The Trust Fund has come a far way and the Board of Directors and Trustees of KCDTF must be commended . However, after twenty (20) years, J $25 million is not a lot of money. Our goal must be to double this Fund in the shortest possible time.
It seems that time has come for us to look at the school (trust fund) in terms of a connectivity (constituency) model. In this, we would visualize the Fund at the center of a series of concentric circles, with those standing to benefit more immediately and directly as nearest to the center. The other constituents such as: parents, teachers, suppliers to the school and the community residents would be closer to the center than say past students (old boys) and these natural constituents would be asked to do more, proportionately, as part of a plan than they are now asked to do.
Naturally this means that any further fundraising model will have to develop:
Linkage to the school, contacts or bridges
Ability to give money
Interest in the school and understanding of the school’s purpose
Benefit to the donor.
We do not now, here or there, have an analysis of donor types who have given and are likely to give and this poses difficulties when planning a fundraising model. However, on the basis of experience the school, PTA and KCOBAs may be able to do a sort out who has given, who is likely to give and who will give again and this experience should not be discounted in planning a fundraiser. I seem to recall that St. Augustine Chapel was built at a cost of £ 10,000 and the majority of funds came from parents, communitarians and the devout with whom “ Priest” was in contact.
There is one thing which one of our members did in 2001 and from what he has told me I see no reason why more of our old boys cannot do the same. The two-step process is relatively simple. Here is what he did:
He showed our 2001 Souvenir Journal to The Board of Directors of a Philanthropic Foundation and asked the directors to read the information presented on the Trust Fund. He had no difficulty there.
He went back to the Foundation’s Executive Director and asked her for the Board’s response. Their only questions were:
Whether we were Tax Exempt and
What would be a reasonable donation?
He told them $5,000. They agreed and asked the Treasurer of KCOBA USA to fax their Chief Accountant a copy of our Tax Exempt letter from the IRS. The check was handed over within days and Bruce Rickards, Chairman of the KCDTF, replied with a personalized Thank You letter. This donor has since made five (5) additional annual installments of $5,000.
If the Board of Trustees is ready to enter into a new fundraising drive, I suggest that we reexamine the whole process and concentrate on face-to-face fundraising. It is still the most effective method of raising funds in any society. Next would be the Personal Letter on Personal Stationary and Small Group ask, segmented/selected asking.
However, the trend these days is towards Fund Development, creating a constituency of givers, which supports the organization because it DESERVES it. Fund development is a process unlike traditional fundraising and means developing a “Membership” that participates through giving, beginning with its own board. I think this is the way to go, particularly when dealing with “ outsiders”.. New York (KCOBA USA ) has had some success with fund development , measured by remittances to Jamaica and the number of repeat donors, and this approach should be given full consideration.
