KAPPA SIGMA ~ ALPHA NU

KENNETH J. KARPOWICZ RECRUITMENT FUND

In April 2007, Kenny Karpowicz (Alpha Nu Class of 1994) joined the chapter celestial. Kenny's devotion to the Fraternity was widely known by all who had the pleasure to meet him during his short time with us.  While serving as Grand Master of Ceremonies, Kenny pushed ritual proficiency encouraging all members of the chapter to become certified.  In honor and memory of Kenny's commitment to the Fraternity, this endowed fund will be used to recruit Alpha Nu brothers and sustain the chapter at Wofford College.  The Founders of the fund have donated at least $1,000 to the establishment of the Kenneth J. Karpowicz Recruitment Fund.

Becoming a Founder or Donor - Click here for the current List of Founders

All donations of any amount are welcomed.  There are multiple ways to become a FOUNDER of this account:

1. A single donation of $1,000
2. A pledge to donate $200 per year of the next 5 years for a total of $1,000
3. A pledge to donate $150 per year of the next 7 years for a total of $1,000
4. A pledge to donate $100 per year of the next 10 years for a total of $1,000

Our goal is to have 100 alumni become FOUNDERS enabling us to reach an endowed fund of $100,000 within 5 years.  Thus, donation options 1 & 2 are preferred but we recognize that everyone's financial means differ and we want to encourage maximum participation by offering smaller donation amounts in options 3 & 4.

All FOUNDERS will be recognized with their name and class year engraved on a recruitment fund plaque prominently displayed on the wall of the main room in the Alpha Nu chapter house.

DONATIONS:

Checks should be made payable to:  Kappa Sigma Fraternity   and mailed to:

Dr. David Pittman
429 N. Church St.
Spartanburg, SC  29303

Please include your class year with your check payment along with your name as you want it to be engraved on the plaque.

You may also make a donation using a credit card by clicking on the appropriate website buttons below.  If you do not have a PAYPAL account and wish you use a credit card simply click CONTINUE on the next page.  This is a secure internet transaction. A charge of 3.2% is included in each website donation to cover fees associated with using the PAYPAL website.

$1032 Donation

$207 Donation (5 year pledge)

$155 Donation (7 year pledge)

$103 Donation (10 year pledge)

Any Amount Donation

Current Fund Status

As of August 22, 2008, the fund balance is $13,700.  Our goal is $20,000 in donations per year over the next 5 years to reach our final goal of $100,000.

Aspects of the Fund Management

Investments:

Due to the recent drop in interest rates for CDs to less than 1%, I have invested the majority of the fund in the market until the CD rates return to close to 4% or the fund reaches $30,000.  At either of these points, I will reinvest the fund as described below.
Until the fund has reached the endowed level of $100,000 dollars, we will grow the fund through investments in the stock market.  Once we reach our goal of $100,000 the fund will be fully invested in a CD to provide a constant rate of interest to be used during the recruitment of new brothers to Alpha Nu.

• 50% of the fund will be placed in a certificate of deposit (8-month CD = 4.5% interest)
      - Interest from this investment will be available for use by the Fraternity to recruit new members
• 50% of the fund will be invested in a growth ETF (exchange traded fund) stock fund
      - Interest from this investment will be reinvested in order to help grow the endowment
      - Emerging Markets Index (EEM) is a diversified international blended index with very
        low expense ratio (0.77%). 
        This index has consistent outperformed the S&P 500, Dow Jones, and NASDAQ markets
        with one of the best 1-yr return rates (42.2%) & 3-yr return rates (36.4%) of all EFT funds.
          (source: Yahoo Finance EFT Center)

Fees:

There are no management fees associated with the oversight of this fund - we are striving to minimize any fees associated with this account so that the full amount of the donations can benefit the Fraternity.  The business investment account for this fund is associated with the Fraternity checking account at Bank of America.  This a variable interest account with a monthly account fee of $12 that is waived if the daily balance is above $3,500.  The stock market investment account is through TD/Ameritrade.  There is no annual account fee and each stock transaction (buy or sell) has a $9.99 charge with no other brokerage fees.

Oversight:

Dr. David Pittman (class of 1994), the faculty and alumnus advisor for Alpha Nu, will oversee the depositing of donations, investment of funds, and distributing of interest for use by the Fraternity to recruit new brothers.  Dr. Pittman will maintain sole control of the funds.  Mr. Rob Usry (Alpha Nu Class of 1992) is also listed as a secondary signature on the accounts in the event that Dr. Pittman is not able to administer the funds.  Appropriate interest from the investments will be presented to the Fraternity on an annual basis in August to be used at their discretion for the recruitment of new members to the Alpha Nu brotherhood but the Fraternity will not have direct access to the money in the funds.

Transparency of the account:  Upon request, Dr. Pittman will make available on this website account statements from the Bank of America business account showing donation deposits, statements from the TD/Ameritrade account showing stock investments, and proof of certificate of deposit investments.  Each donor will receive a confirmation indicated the date on which their donation was deposited to allow verification with the posted statements.   Any questions about the accounts, donations, or investments should be directed to Dr. Pittman via e-mail or phone 864-597-4644.