Tri-Kap Capital Campaign Committee
The Kappa Kappa Kappa Society Board of Directors (“the Board”) created the Tri-Kap Capital Campaign Committee (“the Committee”) and chartered it “with developing and executing a fund raising and relationship building effort that will result in all members of the Kappa Kappa Kappa Society having access to:
- A physical plant that meets Dartmouth College standards now and in the future, and
- Programming and events that will bring together undergraduates and alumni in ways that advance the Kappa Kappa Kappa Constitution for the good of all members of the society”
The mission of the Tri-Kap Capital Campaign is to raise $3,000,000, which will be used both to renovate the Society’s house on 1 Webster Avenue and create an endowment for the benefit of Kappa Kappa Kappa. The Committee seeks to raise these funds through three principal sources:
- The Office of Residential Life of Dartmouth College (“ORL”),
- Ongoing undergraduate operations, and
- Kappa Kappa Kappa alumni.
The house on 1 Webster Avenue has been the home of the Society for close to 90 years. The renovations will bring the house up to federal and College mandated codes, repair long-standing issues, and expand the house to provide the Society with a updated physical plant for the next 100 years.
The current facility has long suffered from underinvestment, which puts us in the position we are today. To ensure the society will have availble resources to carry out proper and timely maintenance of the new facility, the Committee is looking to fund a permanent endowment for maintenance and future improvements.
Through working with local architects and construction companies, the Board has developed a budget for construction totaling $2,750,000. The Committee aims to fund the permanent endowment with $250,000 and any amount that exceeds the construction costs.
The Committee is working with the College on loans to fund the renovation. Representatives from the College have thus far been accommodating, forthcoming, and helpful in working with the Board to raise the funds necessary for construction. The loan will allow the Society to begin construction work as soon as possible. The Committee has developed ongoing budget and donation estimates to demonstrate an ability to pay back any loans from the College. In addition, the Board has engaged the services of the Fraternity Management Group (FMG) to guide and execute campaign communications.
The Committee will continue to work closely with both the Board and the undergraduates to identify sources of funds within the ongoing operations of the Society. The renovations will produce both increased revenues and cost savings. The plans to renovate the house include additional bedrooms, which will produce a significant increase in ongoing revenue for the Society. Cost savings will be produced by repairing and upgrading current systems in the house, such as insulation and heating. The Committee expects undergraduate operations to contribute ~$90k a year starting the first full year upon completion of the renovation.
The Committee will continue to reach out to Kappa Kappa Kappa alumni, explaining the current status of the Society, the mandated need for funds, and the use of those funds. The Committee is asking alumni for loans and donations, either upfront or over a period of 10 years. The Committee is currently working with the Board to establish a 501(c)(3) charitable organization to be able to accept tax deductible donations from alumni. The Board has already set up a dedicated account, designated the Third Century Fund, with our bank to receive donations as they come in from Alumni. All donations made to the project will be held in this Board controlled account.
In pursuit of their objectives, the campaign committee will seek to create two subgroups on which all current committee members will serve. Particularly, the two subgroups will be:
1. The Leadership Donor Subgroup – Comprised of the Committee + leadership donors wanting to take an active role in planning the future of Kappa Kappa Kappa
2. The Volunteer Subgroup – Comprised of the Committee + volunteers recruited to help solicit donations from the membership
The first subgroup will allow leadership donors to get involved in direction of the Capital Campaign without having to take a full time role on the Committee. The Committee will certainly expand to accommodate any leadership donor who prefers to take a full time role on the Committee. The second subgroup will increase the Campaign Committee’s reach into the organization and allow for faster dissemination of information and solicitation of gifts from the membership. The Committee is planning for the first sub group to total 10-15 individuals and the second to total 80-100 individuals. The Committee will be in close contact with the Leadership Donor Subgroup to disseminate information and solicit suggestions. The Committee will provide training and goals for the Volunteer Subgroup and will follow up on these goals to ensure the timely execution of the Capital Campaign. In addition, the Committee will seek feedback on potential marketing and solicitation materials from this group.
The Committee consulted with Dan Mansoor, President of the GoodWorks Foundation, to provide consulting services with regards to the planning and execution of the Capital Campaign Plan. Specifically, the Committee sought Mr. Mansoor’s guidance on identifying and contacting leadership donors, training the Volunteer subgroup, and any ongoing advice on execution strategies. The Committee stands ready to utilize Mr. Mansoor's expertise in the future as well. In addition our administrator, Fraternity Management Group (FMG) has assisted with operational aspects of the campaign.
The Committee recognizes the need for large donors from the membership to achieve its goals. As such, the Committee has a preliminary indication of the designation that will be awarded to donors at the following levels:
The determined designations will confer on the donors certain awards and naming rights, with preference given first to the highest donor then early donors. The table above shows rooms or areas of the new house as examples of what can be named after an individual or designated class for their donation. Note that class gifts will only be eligible to receive naming rights at or above the Philbrick, Hobart, Nash Club. The gifts in the right column of the table are additional means by which to reward those donors that come to the aid of Tri-Kap in her hour of need. Personal portraits of Benefactors and Lifetime Benefactors will be hung in the GOTE room. A large plaque recognizing donors at or above the Philbrick, Hobart, Nash Club will be placed prominently in the new house. A smaller plaque will recognize donors in the Judge Amos Blandon and Phil McGuinnis Clubs. Bricks engraved with donor names will be used to build the new walkway to the house, which will be another lasting means to recognize donors.
The Committee is prepared to accept donations either immediately or over a ten-year horizon. Any donations exceeding this time length will be considered individually.
The Committee is prepared to accept loans from interested investors as well. At this time, the Committee is ready to accept proposals from individual investors. However, as a guiding principle, the Committee will seek to structure such loans over a 25 year time period, with interest rates at or near 3%. Any loan will be subordinate to that offered by the College. The Committee will be willing to individually structure, without regards to these conditions, any loan which offers to refinance the Society’s debt commitments to the College. Any loans secured by a portion of future payments on newly renovated or created rooms would also be accepted. Any loans to the Society may or may not be eligible for naming rights or any other future gift considerations.