statement of centennial supreme basileus barbara a. mckinzie july 15, 2009
TRANSCRIPT
We have failed to trust.
We have failed to take the time to learn.
We have failed to discharge our responsibilities through the lens of loyalty.
It publicly demonstrated poor It publicly demonstrated poor sisterly behavior and examples sisterly behavior and examples of how to violate the sacred of how to violate the sacred policies and rules of a century-policies and rules of a century-old institution.old institution.
The leaders of the lawsuits are sorors who have violated our policies and procedures and continue to do so publicly in a very destructive and bitter-filled manner.
• Have become the subject of lawsuits.
• Are flying around the internet (an unauthorized method of
public communication for AKA).
• The 2007 Audit was included in the Fall 2008 mailing.
• This Sisterhood’s financial position is in great shape!
Audits
Alpha Kappa Alpha
2002 2003 2004 2005 2006 2007 2008
Total Assets 9,762,197 11,373,508 13,599,946 16,618,341 16,718,004 20,370,371 24,565,836
Investments 4,673,067 5,842,491 7,055,836 8,567,405 10,011,684 12,165,139 9,952,724
Total Revenues 7,826,170 6,406,842 10,202,311 8,278,726 13,328,769 12,857,641 27,844,980
Total Expenses 7,344,300 4,851,356 7,961,840 5,955,559 13,746,553 10,330,067 21,352,684
Revenues over Expenses 481,870 1,555,486 2,240,471 2,323,167 (417,784) 2,527,574 6,492,296
Stipend
Article VII, Finances, Section Article VII, Finances, Section 9, p. 489, p. 48“The Supreme Basileus shall be provided a stipend when funds are available.”
• The amount reported in the IRS tax return was included in the 2007 audit.
• The cost per active member of the IRS amount was less than 63 cents per month or $7.50 for the year.
Stipend Value
Boule Receipts
• This Directorate has not voted to spend $900,000 for a wax figure of this Supreme.• The 2008 Boule excess revenues over expenses resulted from controlling costs.
Executive Session Action
The decision reflects advice and counsel from outside tax, actuarial, valuation, and legal experts.
Corporate Card
This officer has not purchased “profuse gifts” for anyone. The approved budget is only spent if actual revenues are realized.The Supreme Tamiouchos has never contacted the Supreme Basileus about any charges
Corporate Card
Card had zero balance in point when received.
The point balance was 593,000 when this Supreme last viewed the account.
Vendors/Partners
Vendors/partners who support this administration issue checks to AKA or to EAF.
Sponsors are recognized in our publications.
BMC Associates
• BMC has never had, nor does it have any contracts with AKA or EAF.
• BMC has not provided investment advice for AKA or EAF.
I will spend the I will spend the remaining time remaining time communicating communicating directly with the directly with the
membership.membership.