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2016 ANNUAL REPORTW W W . G O L D E N K E Y . O R G
TABLE OF CONTENTS
MESSAGE FROM THE BOARD CHAIR .......... 2
2016 SOCIETY LEADERSHIP ...................... 3
WHAT WE STAND FOR .............................. 4
ACHIEVING IN ACADEMICS........................ 5
GUIDING BY LEADERSHIP ......................... 7
GIVING THROUGH SERVICE ........................ 9
SCHOLARSHIP AWARD WINNERS ............. 11
GOLDEN KEY SPONSORS .......................... 13
EXPANSION REPORT/GLOBAL OVERVIEW .................................. 15
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION .......................... 16
CONSOLIDATED STATEMENTSOF ACTIVITIES .......................................... 17
CONSOLIDATES STATEMENTS OF EXPENSES BY REGION ......................... 18
A MESSAGE FROM THE BOARD CHAIR
Adnan Bokhari, CPA
Board Chair
Dear Golden Key Members and Friends:
Golden Key has proudly recognized the academic excellence of our graduate
and undergraduate student members for 40 years. We were pleased to
welcome 56,111 new members, who joined the Society in 2016. Through
the advancement of academics, leadership and service, we have continued
to honor Golden Key’s mission – to enable members to realize and unlock
their potential. The Society and our members uphold those three pillars and
everything they stand for on a daily basis.
Since its founding in 1977, Golden Key has awarded more than 14 million
dollars in scholarships and awards. In 2016, deserving Golden Key members
were awarded $490,339. We were honored to have the opportunity to
continue our graduate scholarship program that provided $10,000
scholarships to exemplary student members in top postgraduate programs
around the world.
Thousands of members attended our Regional Summits and took advantage of personal and professional training
on topics that included postgraduate school preparation, job and internship searches and preparation, chapter
development skills and service project initiatives to name a few. Our International Summit was held in exciting
Las Vegas, Nevada, where some of the brightest students around the world congregated for workshops, networking
opportunities and prestigious, interesting speakers.
The Society carried out its tradition of service as Golden Key sponsored events delivered over 100,000 hours of
volunteer service globally. Golden Key continued its own global service initiative, SPARK A Change, with the goal
of impacting and improving the lives of at-risk youth through literacy, education and real-world preparedness. We
will strive to continue emphasizing the importance of performing impactful service in our communities and look
forward to taking our previous accomplishments to an even higher level in 2017.
In 2016 we added 6 new board members and elected board leadership that represented the diversity of Golden
Key’s membership. We also embarked on a strategic planning process that leverages our strengths to better serve
the Society’s members. You will find more details about Golden Key’s accomplishments for the year of 2016 inside
this report. We hope it gives insight into the various ways we are continuing to pursue our mission of enabling our
members to realize their potential through the advancement of academics, leadership and service.
On behalf of the board and staff, thank you for your support and your efforts in making Golden Key a successful
and meaningful organization for its members.
w w w . g o l d e n k e y. o r g • 2
SOCIETY LEADERSHIP
ADNAN BOKHARI, C.P.A. (BOARD CHAIR)• Chief Financial Officer • CFED
GAIL COLE-AVENT, PH.D.• Executive Director, Student Life and Assessment• University of Miami
SELWYN CORNISH, AM (VICE CHAIR)• Adjunct Associate Professor• The Australian National University
EMILY COSTELLO• Vice President of Channel Relationships• Robert Half International
KATRINA DAVIS (ILC STUDENT MEMBER)• Student• Swinburne University of Technology
ALIM DHANJI• Chief People Officer• Kik Interactive
DEBRA F. GELLER, ED.D.• Associate Dean of Students• UCLA
DRIEKIE HAY-SWEMMER, PH.D.• Chief Academic Officer• EDUCOR
BRETT POWELL, ED.D.• Vice President for Finance & Administration• Henderson State University
BRAD RAINEY (EXECUTIVE DIRECTOR)• Golden Key International Headquarters
JERRY SULLIVAN• American Association of Collegiate Registrars and Admissions Officers (Retired)
HARRIET WATKINS, M.ED.• Golden Key ILC President• Director of Online Learning• The University of Arkansas System
HARRIET WATKINS, M.ED. (PRESIDENT)• The University of Arkansas System
LINDA L. NAIMI, ED.D., J.D. (VICE PRESIDENT)• Purdue University
CHRISTOPHER WALTHER, MS (SECRETARY)• Pace University - Pleasantville Campus
KATRINA NOTARMASO (ALUMNI MEMBER) • The College of New Jersey
KATRINA DAVIS (STUDENT MEMBER)• Swinburne University of Technology
DR. VERITY GREENWOOD, BA, LLB, PH.D. (ASIA-PACIFIC)• Macquarie University
CATHRINE FROESE-KLASSEN (CANADA)• The University of Winnipeg
NICOLE MSOMI (SOUTH AFRICA)• University of the Witwatersrand, Johannesburg
ELIZABETH COLON (US REGION 1)• Pace University - New York City Campus
AMANDA WILSON, MBA (US REGION 2)• American Public University System
MICHAEL L. SANSEVIRO, PH.D. (US REGION 3)• Kennesaw State University
DIANN SIMMONS (US REGION 4) • University of Massachusetts - Boston
WILLIAM WOODS (US REGION 5)• Ashford University
KATHRYN WALTERSCHEID (US REGION 6)• University of Missouri - St. Louis
NEWMAN WONG (US REGION 7)• Midwestern State University
KATHRYN CLIFFORD (US REGION 8)• California State University, Sacramento
JACOB WAUCHOPE (ASIA-PACIFIC)• Queensland University of Technology
NERISSA NAIDOO (SOUTH AFRICA)• University of KwaZulu-Natal
GLEN LOVIE (CANADA)• The University of Winnipeg
LEONORA BERISHA (US REGION 1) • Pace University - Pleasantville Campus
BRANDON HASKINS (US REGION 2)• Tennessee State University
VIVIAN ROBINSON (US REGION 3) • Golden Key International Honour Society Individual Member
AMANDA MENDOZA (US REGION 4) • Central Connecticut State University
ROXANNE THORELLI (US REGION 5) • University of Minnesota
NICHOLAS PERKINS (US REGION 6) • Southern Utah University
JALA MORROW (US REGION 7) • Jackson State University
JASON TORIKAWA-DOMINGO (US REGION 8) • University of Hawai’i - West O’ahus
BOARD OF DIRECTORS
INTERNATIONAL LEADERSHIP COUNCIL
COUNCIL OF ADVISORS
COUNCIL OF STUDENT MEMBERS
WHAT WE STAND FOR
In July 2014, Golden Key launched SPARK a Change, a new global service
initiative. The mission of SPARK a Change is to impact and improve the lives of
at-risk youth (ages 1-17) through literacy, education and real-world preparedness.
Golden Key members are service-minded individuals who strive to make a positive
difference in their communities and around the world. This initiative allows us to
bring all of our chapters together toward a common objective.
To learn more and find out how to support Golden Key, please visit:www.goldenkey.org/programs-privileges/service/
To enable members to realize their potential
through the advancement of academics,
leadership and service.
Academics, Leadership
and Service
Integrity, Collaboration, Innovation,
Respect, Diversity, Excellence and
Engagement
GOLDEN KEY MISSION
OUR PILLARS
OUR VALUES
w w w . g o l d e n k e y. o r g • 4
The Golden Key Career Exhibition had a positive impact on the general members of Golden Key as
it further motivated them to continue working hard and equipped them with knowledge about the
Society. Ensuring that the General members are knowledgeable will enable them to inform others
about the society. The entire student community was motivated as they realized the importance to
not only pass, but to be exceptional because Golden Key is here to reward their academic excellence.
Golden Key joined the School of Engineering to celebrate the fourth anniversary of the Engineering
Community Summit (ECoS), in which GK UPRM has played a significant role from the beginning by
giving support and volunteering. The engineering community was invited to the all-day event consisting
of STEM-related seminars, workshop, and social activities.
About 360 students participated in this activity, including 60 high school students. From the latter, 40
participants were from the UPRM Pre-Engineering Summer Camp and 20 from the UPRM R2Deep high
school program. The selection criterion for extending such invitations for these high school students
participants is based on the level of achievement demonstrated throughout the camp and the R2Deep
Program.
The sponsored students had the opportunity to attend all plenaries and professional talks for the
participants, talk to company representatives, gain an insight of the professional role of engineers in
social issues and expand their views of the engineering career. They also participated in the specially
designed tracks for high school students.
The University of Tasmania Golden Key chapter hosted a series of events across Tasmania as part of a
wider initiative to raise awareness around depression and bullying.
These events, which were held across 3 evenings, highlighted the devastating effects that depression and
bullying can have on the lives of sufferers, their families and health professionals. Australian speaker and
author of “Mum, I wish I was dead”, Adam Schwartz, shared his journey through depression and spread
his message of hope and empowerment. Adam was joined by Chloe Cunningham, the founder of anti-
bullying organization “Angel’s Hope”, along with a number of other panellists, who each brought their
own experiences and stories to the table.
UNITED STATES
University of Puerto Rico at Mayaguez
The University of Tasmania
University of the Free State
ASIA PACIFIC
SOUTH AFRICA
ACADEMICS
Grad School Speed Dating (GSSD) was organized to promote various graduate and professional programs
on campus. It provided a chance for prospective students to chat with students who are already in the
program they are interested in.
In the informal mixer, grads and undergrads had some time at the start of the event to network amongst
each other. For the info session, after a brief introduction from the organizers, graduate students went
to their assigned stations and undergraduate students approached their tables of interest to ask their
questions about admissions, course loads, personal experiences, etc.
The chapter was able to organize and facilitate the GSSD event in a way that provided a safe, casual, low-stress environment not only for undergraduate
students to learn more about their prospective programs and meet possible contacts and mentors, but also for graduate students to share their
knowledge, program, and experiences with undergrads. Undergrads left the event with a better idea of the various programs available to them after
their degree and with at least one friendly face from each. Meanwhile, grad students were really happy to share their stories, show off their programs,
and give some advice. As an added bonus, because most of the guests were non-GK members, the GSSD event served as a great way for the rest of the
UAlberta community to learn more about what Golden Key is and what sort of events we do. And to the few GK members who were present, we were
also able to expound more and direct them on how to get involved with GK.
CANADA
University of Alberta
ACHIEVING IN ACADEMICS
w w w . g o l d e n k e y. o r g • 6
LEADERSHIP
Recognizing the history of excellence that precedes Golden Key International Honour Society, I am committed to representing the
organization that shares my ambition for the bigger picture through my educational excellence. Thank you again for enabling this opportunity!
Entrepreneurs Connect: This year we took it upon ourselves to forge relationships with other societies
to promote our chapter and its activities. In line with Golden Key’s mission to enable members to realize
their potential through the advancement of academics, leadership and service, our chapter partnered
with Enactus NMMU, ABASA NMMU and BMF NMMU. The purpose was to give existing and aspiring
entrepreneurs an opportunity to connect, network and engage in discussion about issues affecting
Entrepreneurs in Port Elizabeth and South Africa as a whole. Participants were given a platform to
engage with and receive valuable advice from successful business owners on how they too can be
successful in their ventures. In addition to this and as part of the program for the event, Siyabonga
Beyile, founder and CEO of The Threaded Man gave an inspirational and informative talk focusing
on educating and inspiring young entrepreneurs. We also held a panel discussion and the topic was
“Thriving In the South African Economy as an Entrepreneur”. The event was an overall success with an
attendance of 160 people. We managed to bring together students from different societies on campus
while promoting our respective societies and strengthening the Golden Key brand.
In 2016, the University of Waikato Golden Key chapter hosted a Speed Networking event. This event
was designed to provide members with the opportunity to engage with a range of local and national
leaders from companies such as Beca, Fonterra, DATACOM, Audit NZ, Colliers, Dairy NZ and the
Waipa District Council.
On the night, members were encouraged to converse with these leaders and learn from their
experiences and knowledge. They were also asked to reflect upon how they might be able to use
their own leadership skills, as well as personal and professional skills, to enhance their journeys as
students and future leaders.
SOUTH AFRICA
ASIA PACIFIC
Nelson Mandela Metropolitan University
The University of Waikato
- Andrew Ackerman, New York Institute of Technology
GUIDING BY LEADERSHIP
One of the best events we had all year was the professional night event held in conjunction with NAHB.
NAHB is the National Association of Home Builders - an association our VP, Myles Cardenas, is
president of. The KSU chapter of NAHB is nationally recognized and won a $60,000 award to bring back
to KSU. Therefore the officers of GK thought that they had something to teach us about professional
development. Out of this came the idea of a joint LinkedIn night/Merit night. Professionals from career
development came out and talked to our members about LinkedIn - how to make one, the importance,
how to build a great profile for future employers to look at. They also talked to us about Merit, a new
way to track your resume online. In addition to this, they were able to talk about the different services
available on campus in the career services center including resume building and mock interviews. This
was also a good way for students to be able to see who their career advisor is for future career needs.
Lastly, a part of this event allowed all attendees to take a free professional headshot for their LinkedIn
profiles. Although this was not a service event, this was definitely a great way for students to network and
build the leadership skills they need to be successful leaders during and after college.
One of the unique programs our chapter offers is our highly popular Tri-Mentoring program. Upon
last year’s success, we decided to once again provide an opportunity to check in with participants
halfway through the program. We had two objectives: 1) to ensure triads were meeting participants’
expectations, and to make adjustments and invite dialogues where needed; 2) to allow mentees
to share their triad experiences with each other, for mutual growth. To balance our agenda of
mainly seated, serious conversations, our Tri-Mentoring team added lighthearted socialization to
the schedule. We began with everyone making small talk over a meal, and included various team-
building mini games that had all participants on their feet. To ensure the games were for more
than merely entertainment, our Executive team led brief conversations after each event to apply
foundations from the activities to a triad relationship.
After a roundtable discussion on participants’ triads, the conversation naturally led to a personal
sharing time. While this was not on our agenda, our team was pleased to see our members
spontaneously open up their feelings and share their experiences beyond Tri-Mentoring. To close the
night of bonding, participants kindly provided praise and feedback for the further development of
our Tri-Mentoring program.
UNITED STATES
CANADA
Kennesaw State University
University of British Columbia
w w w . g o l d e n k e y. o r g • 8
Go Global Fair: This yearly event is a food-tasting extravaganza founded by Dalhousie Golden Key in
2015. The event is run in collaboration with the International Centre and various cultural societies at
Dalhousie. Students prepare food samples to share their culture in exchange for donations to support
early education for children immigrating to Canada. The money raised is donated to ISANS (Immigrant
Services Association of Nova Scotia) to support the Early Childhood Education Centre. The Go Global
Fair celebrates culture on our university campus and helps support members of our community at large
through the donations collected for ISANS.
Our chapter volunteered throughout 2016 at the Tennyson Center in Colorado that specializes in the
treatment and education of abused, neglected, and at-risk children. Volunteers meet with the children
as a person-to-person connection, fostering personal development and growth and serving as a positive
role model for the children. These events were conducted with Psi Chi, the International Honor Society
in Psychology, under the leadership of Public Relations Director Joseph Rosales (Psi Chi CU Denver
President).
Dalhousie University
University of Colorado Denver
CANADA
UNITED STATES
We decided to have a concert, with all proceeds from ticket sales going to the PSFA. The headlining act,
Opposite the Other, as well as the supporting act, Jasmine Minter, kindly accepted to play for free at
the concert. The Great Wizoo also kindly allowed us to use the venue for free. SoundOut gave us great
discounts on sound equipment rental. The sound guys, Dylan and Robert also worked for free. We
marketed the event on social media and via email. We set up a Google Form for people to reserve tickets;
they had the option of either paying by EFT or cash at the door. The event was a huge success and we
managed to sell 164 tickets and raise R8200, which is enough to feed 20 children for a year through the
PSFA feeding scheme.
University of Cape Town
SOUTH AFRICA
SERVICE
The Golden Key Victorian Alliance, in partnership with KOGO (Knit One Give One), held the
“Christmas Angel Project”, a day dedicated to wrapping Christmas gifts for disadvantaged and
refugee children.
On the day, over 3000 Christmas gifts were wrapped. These gifts were then delivered to families
and children in need of a bit of Christmas spirit. Project leader and Swinburne University of
Technology Golden Key chapter President Justine Hall was recognized for her ongoing commitment
to community service and leadership as part of this event and was awarded the “2016 Woman of
Achievement Award” from Zonta Club of Melbourne’s East. As part of this award, Justine dedicated
$1000 to the Monash Health Foundation. This money will be used to directly assist gynecology and
oncology patients at Monash Medical Centers.
ASIA PACIFIC
Victorian Alliance
GIVING THROUGH SERVICE
w w w . g o l d e n k e y. o r g • 1 0
SHERMA NOBLEWalden University
$3,000
JAMES WELLSEastern Kentucky
University$1,000
JOSE FANAQueens College
$1,000
MONTANA DIABOConcordia University
$5,000
MOHAMMED GHUZIUniversity of Alberta
$10,000
BLAIR FLICKERThe University of Texas
$10,000
RYAN DAVISIndiana University-
Bloomington$10,000
LARS KARLSTROEMUniversity of the Sunshine Coast
$5,000
MATTHEW HASBYAshford University
$1,000
I-HSIN LEECleveland State University
$10,000
ANDREW ACKERMANNew York Institute of
Technology$1,000
TINGWEI ADECKWest Texas A&M
University$1,000
BETTINA KOSCHADEConcordia University
$2,500
SHERI LYNCHUniversity of Central
Florida$1,000
MINA DELAVARCalifornia State
Northridge$10,000
ALIZA DENOBREGAFlorida State University
$10,000
CARLY HANDState University of
New York at Fredonia$5,000
MORGAN FRICKUniversity of Alabama
$1,000
CAMILLIE COLLINSThe University of Texas at
Arlington$1,000
THANKDEKA COCHRANE
University of Cape Town$10,000
ENRIQUE VARONAFlorida International
University$3,000
PHILLIPPA MURPHY-HASTE
The University of Sydney$5,000
KECIA WADDELLWayne State University
$1,000
NOE ARROYO-WILLIAMS
University of Arizona$1,000
HANNAH ISHIKAWAIndiana University of
Prudue$5,000
JULIAN RIVERA RO-DRIGUEZ
Walden University$1,000
GWENDOLYN JORDANVirginia State University
$1,000
JENNIFER HOFFMANAshford University
$1,000
2016 FEATURED SCHOLARSHIP AWARD WINNERS
JENNY GORZEGNERThe University of Montana
$10,000
TIMOTHY BABAGeorgia Institute of
Technology$1,000
VERONICA THOMASFlorida International
University$3,000
PETER LEEBrooklyn College, City University of New York$1,000 & $2,500
DOAA KHALILUniversity of Southern
Maine$1,000
JOANNA SCHEIDEGGERUnivesity of Southern
Maine$5,000
NEWMAN WONGMidwestern State
University$1,000
AGNIESZKA KULIGOWSKI
Nova Southeastern $1,000
Not Pictured
RYAN MUIStanford University
$5,000
AUDREY KIM WEI PINGThe University of Western Australia
$10,000
FRANK PIZZINI JR.Lehman College
$10,000
ALEJANDRA SALDANAUniversity of the Sunshine Coast
$1,000
ANGELICA PATTERSONDePaul University
$1,000
SHIANN WHITEBEANConcordia$5,000
JOANNA STAMPELOSUniversity of Delaware
$1,000
JEANNI SIMPSONHoward University
$10,000
LAURENCE THIRYBishopps University
$1,000
DIPELA J. MONDIUniversity of
Witwatersrand$5,000
DAI ZHANGCincinnati Christian
University$1,000 & $5,000
ALEXANDER ROUSSOSMacquarie University
$1,000
KATELYN POMROYGriffith University
$5,000
PATRICK MAYOHThe Australian National
University$5,000
PHYLLIS TANGUniversity of British
Columbia$1,000
BETHANY MARTINUniversity of the Rockies
$1,000
JAMAAL THOMASWalden University
$10,000
KENNETH PATTERSONColorado State University
Global Campus$1,000
TARA SPENCERHoward University
$5,000
PATRICK MCCAULEYUniversity of Sydney
$10,000
AURAND TOUUniversity of Waikato
$5,000
2016 FEATURED SCHOLARSHIP AWARD WINNERS
I am grateful for the generosity
of the Golden Key International
Honour Society. As a 2016
Education Debt Reduction
Scholarship winner, I am truly
overwhelmed by the weight that has been lifted. I earned
two Master’s degrees from the University of Montana, one
in Public Health and the other in Environmental Studies.
This award will go towards paying back those student loans.
Winning this award means that I will be able to increase my
work in public mental health while caring for my family.
To say that this award is life-changing would be a great
understatement. It has reduced stress and anxiety in my home
and given me the opportunity to focus on making a positive
impact in my community. It is a privilege to represent Golden
Key and all that it stands for. I am honored to be a part of the
Golden Key International Honour Society and look forward to
contributing to its success in the future. Thank you for being
such an inspiring and supportive organization!
Education Debt ReductionThe University of Montana
JENNY GORZEGNER
w w w . g o l d e n k e y. o r g • 1 2
G o l d e n K e y S p o n s o r s
750,000 LEVEL: U.S. DOLLARS
200,000 LEVEL: U.S. DOLLARS
50,000 LEVEL: U.S. DOLLARS
bank of americaBank of America is headquartered in Charlotte, North Carolina, and provides a diverse
range of banking and financial services in more than 30 countries. Bank of America has
been a valued Golden Key partner since 1995 and is currently the longest-standing partner
of the Society. Through Bank of America’s generous support, Golden Key is able to award
a variety of scholarships each year.
envisionEnvision is a leading experiential education organization dedicated to enabling students of all ages
to explore their interests and gain learning experiences beyond the classroom. Since 1985, more
than 800,000 students from more than 145 countries have participated in Envision programs.
Envision partners with Golden Key in providing its highly qualified members the opportunity to
take part in the International Scholar Laureate Program (ISLP), a short-term career focused study
abroad opportunity. Due to its longstanding relationship with Golden Key, Envision is proud
to extend a limited number of scholarship awards exclusively to Golden Key members to attend
ISLP each summer. More than 1,700 Golden Key members have traveled in an ISLP delegation to
engage within the fields of medicine, nursing, engineering, business and international relations.
geicoGEICO has been helping drivers with their auto insurance needs since 1936 and is
the second-largest private passenger auto insurer in the United States. More than
33,500 members of Golden Key are GEICO policyholders. GEICO takes pride in
serving more than 16 million policyholders and the company is equally proud of the
work it does outside the office walls. GEICO’s commitment to provide outstanding
community service is no less than our goal to provide excellent customer service to our
policyholders. We support and encourage the good works being done in communities
across the country by many of our 39,000 associates. Whether it’s reading, teaching,
walking, volunteering or fundraising, GEICO associates are actively involved with
schools, disaster relief efforts, national and local charities, etc.
G o l d e n K e y S p o n s o r s
ADDITIONAL SPONSORS
graduate school partners & sponsors
corporate partners & sponsors
• Adams & Adams
• Ameriprise
• AT&T
• Australian Association of Graduate Employers
• Bain & Company
• Bank of America
• Bank of Montreal
• Better World Books
• Brandhouse
• CPA Australia
• Discover Financial Services
• Dream Careers
• Education Dynamics
• EF Tours
• Envision EMI
• GEICO
• Grad Flowers
• Investec
• Johnson Inc.
• Leaderex
• Lenovo
• LifeMart
• Meltwater Group
• Merrill Lynch
• Money 101
• NASA Federal Credit Union
• Nedbank
• Oasis Group Holdings
• QS Quacquarelli Symonds
• Sant’Anna Institute
• Startup Institute
• Student Village
• Teach Me 2
• The Intern Group
• The Princeton Review
• The South African Brewery
• Ticket Monster
• Universum Global
• Vault
• CareerEco
• IE Business School
• Grad School Match
• Hult
• Katz Graduate School of Business
• Rotman School Of Management
• York University’s Schulich School of Business
“Experiences like the service activities offered through
Golden Key leave an indelible mark on the thinking of
the bright young people that join. Involvement in the
activities of the GK chapters helps to imbue in members
the ethos of service, the importance of leadership,
and the beauty of enriching their minds through their
academic excellence. There are few organizations that
provide all three of these opportunities even as they
network with the future leaders of the world.”
- Dr. Derek SwemmerFormer Board Vice Chair
w w w . g o l d e n k e y. o r g • 1 4
2016 GLOBAL OVERVIEW
2016 service hours
2016 scholarships by country (usd)
2016 global number of chapters
ASIA PACIFIC
5,123NORTH AMERICA
66,193SOUTH AFRICA
9,682TOTAL
80,998
CANADA: 20 MALAYSIA: 3 NEW ZEALAND: 2AUSTRALIA: 25 UNITED STATES: 324SOUTH AFRICA: 15
“It is immensely rewarding for me to be involved with so many great students who are
performing at such a high level and doing outstanding things around the world.”
- Brad Rainey, Executive Director
$32,209.50
TOTAL: $490,338.66$314,351.98
$69,751.40
$74,025.78
assets• Current assets: • Cash and cash equivalents ...................................................................$ 1,500,276 ....................................................................$ 1,741,975 • Term Deposits ....................................................................................... 0 .................................................................... 0 • Dues Receivable .................................................................................... 17,340 .................................................................... 14,670 • Accounts receivable .............................................................................. 108,127 .................................................................... 86,054 • Investments, at fair value ..................................................................... 5,679,986 .................................................................... 5,439,576 • Inventories ............................................................................................ 82,951 .................................................................... 100,925 • Prepaid expenses .................................................................................. 290,753 .................................................................... 182,921
TOTAL CURRENT ASSETS ............................................................................... 7,679,433 .................................................................... 7,566,121
• Fixed assets, net of accumulated depreciation and amortization of $1,899,369 and $1,654,596 for 2016 and 2015 respectively .................... 685,914 .................................................................... 810,791• Investments – Invest in Excellence, at fair value ...................................... 109,296 .................................................................... 97,752• Deposits .................................................................................................... 34,549 .................................................................... 53,246
TOTAL ASSETS ...............................................................................................$ 8,509,192 ....................................................................$8,527,910
liabilities and net assets • Current liabilities: • Accounts payable ..................................................................................$ 652,576 ....................................................................$ 673,863 • Accrued compensation .......................................................................... 116,918 .................................................................... 132,996 • Other accrued expenses ........................................................................ — .................................................................... — • Deferred rent ......................................................................................... 79,031 .................................................................... 71,823 • Deferred revenue ................................................................................... 242,138 .................................................................... 245,903
TOTAL CURRENT LIABILITIES ......................................................................... 1,090,663 .................................................................... 1,124,585
• Deferred rent, net of current portion ...................................................... 238,150 .................................................................... 317,180 • Sublease tenant deposits ...................................................................... 33,804 .................................................................... 33,804
TOTAL LIABILITIES ......................................................................................... 1,362,617 .................................................................... 1,475,569
• Net assets: • Unrestricted .......................................................................................... 7,011,278 .................................................................... 6,923,498 • Temporarily restricted ........................................................................... 35,297 .................................................................... 28,843 • Permanently restricted .......................................................................... 100,000 .................................................................... 100,000
TOTAL NET ASSETS ........................................................................................ 7,146,575 .................................................................... 7,052,341
TOTAL LIABILITIES AND NET ASSETS .............................................................$ 8,509,192 ....................................................................$ 8,527,910
2016 2015
2016 CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
w w w . g o l d e n k e y. o r g • 1 6
support and revenue• Membership dues ..........................................................................$ 4,405,675 $ — $ — $ 4,405,675 • Member services ........................................................................... 908,993 — — 908,993• Corporate sponsorships contributions,
and contributions in kind .............................................................. 119,776 43,801 — 163,577• Royalties ....................................................................................... 1,145,193 — — 1,145,193• Investment gains and losses, net ................................................. 449,735 11,544 — 461,279• Other ............................................................................................. 228,550 — — 228,550• Net assets released from restrictions ............................................ 48,891 -48,891 — 0
TOTAL SUPPORT AND REVENUES ....................................................... 7,306,813 6,454 — 7,313,267
program expenses• Student recognition ....................................................................... 2,279,147 — — 2,279,147• University activities ...................................................................... 1,542,908 — — 1,542,908• Member benefits ........................................................................... 1,499,980 — — 1,499,980• Leadership/volunteer training ....................................................... 837,160 — — 837,160
TOTAL PROGRAM EXPENSES .............................................................. 6,159,195 — — 6,159,195
fundraising and generaladministrative expenses• Fundraising ................................................................................... 418,814 — — 418,814• General and administration .......................................................... 641,024 — — 641,024
TOTAL FUNDRAISING AND GENERAL AND ADMINISTRATIVE EXPENSES ...................................................... 1,059,838 — — 1,059,838
TOTAL EXPENSES ............................................................................... 7,219,033 — — 7,219,033
CHANGE IN NET ASSETS .................................................................... 87,870 6,454 — 94,234
NET ASSEST, BEGINNING OF YEAR..................................................... 6,923,498 28,843 100,000 7,052,341
NET ASSETS, END OF YEAR ................................................................$ 7,011,278 $ 35,297 $ 100,000 $ 7,146,575
UNRESTRICTED TEMPORARILY PERMANENTLY NET ASSETS RESTRICTED NET ASSESTS RESTRICTED NET ASSESTS 2016 TOTAL
2016 CONSOLIDATED STATEMENTS OF ACTIVITIES
2016 CONSOLIDATED STATEMENTS OF EXPENSES BY REGION
australia
new zealand
2016 revenue by regiongk foundation
overall program expenses
canada
south africa
india
united states
Student Recognition .............................$ 232,018
University activities.............................. 284,162
Membership benefits ............................ 66,933
Leadership/Volunteer training .............. 59,006
TOTAL PROGRAM .................................. 642,119Fundraising .......................................... 21,927
G&A ................................................... 52,990
TOTAL FUNDRAISING & G&A ................. 74,917TOTAL ALL PROGRAM EXPENSES ..........$ 717,036
Student Recognition .............................$ 9,808
University activities.............................. 6,817
Membership benefits ............................ 1,258
Leadership/Volunteer training .............. 360
TOTAL PROGRAM .................................. 18,243Fundraising .......................................... 0
G&A .................................................... 190
TOTAL FUNDRAISING & G&A ................. 190TOTAL ALL PROGRAM EXPENSES ..........$ 18,433
Australia ................................................................................ $ 768,746
Canada .................................................................................. 330,821
India ...................................................................................... 80
New Zealand .......................................................................... 58,246
South Africa ........................................................................... 480,206
United States ........................................................................ 5,434,958
GK Foundation ....................................................................... 390,289
TOTAL REVENUE ..................................................................... $ 7,463,346
Student Recognition ............................................................... $ —
University activities................................................................ —
Membership benefits .............................................................. —
Leadership/Volunteer training ................................................ —
TOTAL PROGRAM .................................................................... —Fundraising ............................................................................ —
G&A ...................................................................................... 10,000
TOTAL FUNDRAISING & G&A ................................................... 10,000TOTAL ALL PROGRAM EXPENSES ............................................ $ 10,000
Total Program ......................................................................... $ 6,159,195
Total Fundraising and G&A..................................................... 1,059,731
Total Expenses........................................................................ $ 7,218,926
Student Recognition .............................$ 184,623
University activities.............................. 66,685
Membership benefits ............................ 26,243
Leadership/Volunteer training .............. 20,273
TOTAL PROGRAM .................................. 297,824Fundraising .......................................... 13,208
G&A ................................................... 12,184
TOTAL FUNDRAISING & G&A ................. 25,392TOTAL ALL PROGRAM EXPENSES ..........$ 323,216
Student Recognition .............................$ 37,288
University activities.............................. 101,882
Membership benefits ............................ 40,615
Leadership/Volunteer training .............. 25,179
TOTAL PROGRAM .................................. 204,964Fundraising .......................................... 10,411
G&A .................................................... 24,404
TOTAL FUNDRAISING & G&A ................. 34,815TOTAL ALL PROGRAM EXPENSES ..........$ 239,779
Student Recognition .............................$ 0
University activities.............................. 0
Membership benefits ............................ 0
Leadership/Volunteer training .............. 1,010
TOTAL PROGRAM .................................. 1,010Fundraising .......................................... 0
G&A ................................................... 0
TOTAL FUNDRAISING & G&A ................. 0
TOTAL ALL PROGRAM EXPENSES ..........$ 1,010
Student Recognition ..........................$ 1,815,410
University activities........................... 1,083,362
Membership benefits ......................... 1,364,931
Leadership/Volunteer training ........... 731,332
TOTAL PROGRAM ............................... 4,995,035Fundraising ....................................... 373,268
G&A ................................................. 551,149
TOTAL FUNDRAISING & G&A .............. 924,417TOTAL ALL PROGRAM EXPENSES .......$ 5,919,452
w w w . g o l d e n k e y. o r g • 1 8
Golden Key International Headquarters
1040 Crow n Pointe Parkway, Suite 900
Atlanta, Georgia 30338
w w w . g o l d e n k e y . o r g
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