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2017Annual Report
INSPIRING the next generation of Beta Chi Theta leaders’ in education and professional development
The Beta Chi Theta Foundation, established in 2015, has been created to support the educational advancement for the members of Beta Chi Theta, a South Asian-interest Fraternity. The Foundation will provide scholarships (merit- and need-based) and funding for leadership development opportunities to undergraduate and graduate members of the Fraternity. The foundation is incorporated in the State of Indiana and has been recognized as a 501(c)(3) non-profit organization with the IRS.
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In 2017, the Foundation’s goal was to create the infrastructure for new and improved educational programs . Today, I am proud to say that we have accomplished many of those major milestones set forth at the beginning of last year. As we embark into 2018, we are extremely excited to continue introducing more programs and encourage all brothers to take advantage.
The Foundation’s mission has always been to provide the best-in-class educational and leadership opportunities for our Brotherhood, paving the way to turn ambition into reality. To ensure the success and longevity of the Foundation, we must continue to band together as one through the strength of our pillars. We hope that 2018 will be an instrumental year for the Foundation, building a strong framework together today and into tomorrow. We thank you for contributing to yet another outstanding year.
Fraternally yours,
Samarth PatelExecutive Director of the Beta Chi Theta Foundation
Brothers and Friends,Back in 2014, the Foundation was simply a concept. Since its inception in 2015, we have seen an incredible amount of growth that has cultivated into a robust organization positively impacting lives of our Beta Chi Brothers. This astonishing success in such a short amount of time has been a direct result of strong and prolonged funding from our supporters alongside relentless hard work from the Foundation’s Executive Team.
Letter from the Executive Director
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We believe in “Achieving Excellence Through Giving” and we cannot be thankful enough to our supporters. In 2017, the Foundation launched two of its signature fundraising campaigns to ensure optimal funding for programs.
The Annual Giving Day occurs each year on June 2nd and Quarterly Giving Day occurs each quarter.
Raised over $6,700 during 2017 and awarded THREE $1,000 scholarships and ONE $500 in leadership grant.
Over the last two years, the Foundation has given out over $10,000 in scholarships and grants.
2017 A Year In Review
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2017 A Year In Review
To ensure alignment in programmatic communications, the Foundation and National Board strengthened relationships through a collaborative cross-functional media team. The above graphic represent the fruits of those joint efforts. In 2018, the Foundation will continue to focus on collaborative programming and marketing.
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We Invest
Trushar Patel Scholarship FundSai Kamma - University of Texas at Dallas: Junior - NeuroscienceI have been heavily involved in microbiology research at my campus and the Trushar Patel scholarship will enable me to travel and present at more conferences without a financial burden. In addition to my career goals in medicine, my arduous academic journey has taught me that education is priceless, and I want to give back to the community that has given me so much by becoming the best possible physician.
General Scholarship FundChirag D. Sheth - University of Connecticut - MD/MBA Candidate Class of 2019 Going to school to pursue your dreams is hard enough but when you add the financial burden it can sometimes be overwhelming. The opportunity to receive a scholarship from the Beta Chi Theta Foundation has helped reduce some of that financial burden and allowed me to focus on what really matters, pursuing my MD/MBA degree to become the best physician I can be. Thank you to the Foundation Board members and donors who have made this possible for me and other recipients.
Lambda Legacy Scholarship FundSneh Bhakta - University of Minnesota: Junior - Psychology / OTMy name is Sneh Bhakta, I am a third-year Student at the University of Minnesota-Twin Cities majoring in Psychology on an Occupational Therapy Track. This scholarship will help me achieve my goals and aspirations for OT School because it takes a financial weight off my shoulders. This scholarship means a lot to me. Giving to Lambda Chapter has been amazing as I see the fruits of my work through the brotherhood, and service. It is amazing to receive something in return from Beta Chi Theta National Fraternity Inc.
2017 Annual Scholarships
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We Invest
The Foundation believes in Achieving Excellence Through Giving. We Invest, because we believe in the potential of these ambitious gentlemen and our future
2017 Educational Fund
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Leadership FundNikhil Prajapati – University of Houston: Junior – Electrical EngineeringWith the help of the Foundation, I had the opportunity to travel to Philadelphia, where I pitched my concepts to venture capitalists. This experience has most definitely provided me the knowledge and focus of the industry in order to jumpstart my career aspirations in my dream of operating my own engineering company.
Looking Ahead in 2018
Fundraising
Programming
Strategic
Communications
During the first couple of years of the its existence, the Foundation focused solely on developing its infrastructure and governance model.
In 2018, we focus on three main strategies: Fundraising, Programming, and Strategic Communications.
To meet and exceed the incoming donations goal, we have devised new and improved Fundraising strategies to ensure optimal funding is available to support the programs.
The Foundation’s second strategy is to create programs that provide real tangible value for the Brothers.
Finally, our third strategy will be partnering with the Beta Chi Theta in delivering effective marketing communications internally and externally.
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Fundraising
2017 Goal:$15K
2017 Raised:$6.7K
2018 Goal:$15K
In 2017, we set a fundraising goal of $15,000. We were able to fundraise $6,700 during the year. In 2018, we are striving to achieve our original fundraising goal of $15,000. To get us to the fundraising goal, we are setting forward the following strategies.
2018 Fundraising Strategies
1 GIVING DAY FUNDRAISING CAMPAIGNSIntroduction of Yearly Giving Day on June 2nd and Quarterly Giving Day quarterly fundraising campaigns, which focus on encouraging small scale recurring donations. These campaigns will focus on engaging both the alumni and active members. Giving Day will precede with promotional marketing communications tailored around Foundational programs and highlights.
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Fundraising
2 REGIONAL DONOR ADVOCATE PROGRAMContinue developing Regional Donor Advocate Program to educate and engage alumni around the country about the Foundation and its initiatives. Alumni act as an advocate for the Foundation and help in its fundraising efforts through referrals to other alumni in their network.
3 CORPORATE GIVING PARNTERSHIPSCorporate giving platforms such as Benevity.com and YourCause.com, which partner with corporations and companies to provide a portal where employees can donate to their favorite charity/cause. Many companies offer 100% donation matching programs. The Foundation is a registered charitable organization on Benevity.comand YourCause.com. In 2018, our strategy will include optimizing incoming donations through these platforms.
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PROFESSIONAL WEBINARSProfessional webinars will be uploaded on a portal dedicated to help undergraduate and graduate brothers learn about various topics relating to (and not limited to) resume building, networking, interviewing, etc. Each video will cover a specific topic and include an overview of a topic.
MENTORING PROGRAMMentoring program will exist with the goal of leveraging the experience of an established alumni base to help guide the new and experienced brothers of the Beta Chi Theta Fraternity. The mentoring program will help the individuals create a valuable mentor mentee relationship.
UNDERGRADUATE AND GRADUATE SCHOLARSHIPSThe scholarship fund is designated to award $1,000 scholarships to full time students that are pursuing an undergraduate or a graduate degree at an accredited university.
Foundation Programs
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LEADERSHIP GRANTSThe leadership fund is meant to provide current undergraduate and graduate students funding to attend conferences that can provide opportunities to advance their educational/career aspiration. In order for individuals to quality for these funds, the Beta Chi Theta Foundation must endorse the initiative as a meaningful educational or professional development.
In 2018, the Foundation will be offering many new and improved existing programs.
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Active Body Engagement
•Social Media
•Chapter competitions
•Alumni video conferences
•Partnership with BCT National Board & Media Team
Recruitment
•Brochure one-pager of college transition into workforce
•Promotional videos
External Exposure
• Improve Social Media footprint
•Target 5 Organizations for partnerships
Alumni Engagement
•Ongoing alumni database improvements
•Master Program Tracker
• Incentivize and recognize alumni contributors
2018 Goals
Communications & Marketing
Financials
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Foundation will follow a 90/10 rule for funding allocation whereby: • 90% of funding used towards the development and disbursement of
funds for educational programs created by the Foundation (i.e. scholarships, leadership fund, etc.)
• 10% of funding will be used towards operating expenses related to the Foundation (i.e. travel, state filings, etc.)
Financial Reporting
Financial Summary (01/01/2017 - 12/31/2017)
Total Income $6,695.83
Total Expenses $8,201.90
Year Net Gain/(Loss) ($1,506.07)
Opening Fund Balance
Fund Amount % of Total
Unrestricted Fund $985.07 12.3%
Temporarily Resticted Fund $7,008.67 87.7%
Perminently Restricted Fund $0.00 0.0%
Leadership Fund $0.00 0.0%
Opening Fund Balance $7,993.74
Revenue
Revenue Detail Amount % of Total
Unrestricted Fund $5,498.83 82.1%
Temporarily Resticted Fund $1,197.00 17.9%
Perminently Restricted Fund $0.00 0.0%
Leadership Fund $0.00 0.0%
Total Revenue $6,695.83
Expense
Expense Detail Amount % of Total
Unrestricted Fund $487.14 5.9%
Temporarily Resticted Fund $7,000.00 85.3%
Perminently Restricted Fund $0.00 0.0%
Leadership Fund $0.00 0.0%
Budget Request $0.00 0.0%
Council $0.00 0.0%
Insurance $0.00 0.0%
Meeting $521.00 6.4%
Operational $193.76 2.4%
Other $0.00 0.0%
Other Conference $0.00 0.0%
Printing, Publications, Postage $0.00 0.0%
Regional $0.00 0.0%
Technology $0.00 0.0%
Trademarks $0.00 0.0%
Total Expenses $8,201.90
Fund Balance
Fund Amount % of Total
Unrestricted Fund $5,282.00 81.4%
Temporarily Resticted Fund $1,205.67 18.6%
Perminently Restricted Fund $0.00 0.0%
Leadership Fund $0.00 0.0%
Ending Fund Balance $6,487.67 P
Beta Chi Theta Foundation, Inc. - Confidential Information
Beta Chi Theta Foundation
Office of the Director of Finance
Est. 2015Verion 2.0: Created by: Pathik Patel
Donor Spotlight
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Aditya LingampallyArtoush Varshosaz
Ashwin KumarJames Nall
Jason ChakkalakelJay BhimaniJay Tatachar
Kevon WilliamsKewal DesaiKinesh Patel
Max HammondMohamed Elabbady
Navdeep JassalPathik Patel
Pedro YilsastiguiPraharsh ModiPrashant KherRahim Lakhani
Ravi PatelRoshan Patel
Sean SadasivanSheevum Patel
Shreedam ParikhSouvik RahaSuraj Sinha
Trushar PatelVinay Kholi
Vinod Chainani
Leadership Team and Contact InfoThe Foundation’s Executive Team and Board of Directors represent business,
industry and academia, were selected based on their involvement and commitment to issues critical to preparing the next generation of Beta Chi Theta professional leaders and students committed to academic excellence. They bring a wealth of
expertise in various key areas including strategic and financial planning, workforce development, marketing and communication, and leadership training.
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EXECUTIVE TEAM BOARD OF DIRECTORS
Executive Director
Samarth Patel
Chairman of the Board
Vivek Surti
Finance Director
Pathik Patel
Education Director
Tenzin Sonam
Marketing & Communications Director
Bhrunil Patel
Technology Director
Shreedam Parikh
Strategic Initiatives Director
Nirav Shah
Board Member
Vinay Kohli
Board Member
Jay Bhimani
Frequently Asked QuestionsAre my monetary donations tax-deductible? How do I claim my tax-deduction?
• At the beginning of each calendar year, the Beta Chi Theta Foundation will distribute a Letter of Acknowledgment for each donor, which will include the total amount of donations for the year. In addition to this, any single donation greater than or equal to $250 will receive its own Letter of Acknowledgement upon receipt, per IRS requirements. Note that the Letter of Acknowledgement is for Donor/Foundation records only.
How can I donate?
• Please visit www.foundation.betachitheta.com then navigate to the Donate page.
Are any of the foundation board positions paid?
• No. Neither the Executive Officers nor Directors receive any form of compensation (including monetary or otherwise) for their involvement with the Foundation.
How will my monetary donation be utilized?
• 90 / 10 funding allocation rule. 90% used towards programs, 10% used towards operational expenses
• The Foundation is required by Federal Law to produce a full financial statement for each fiscal year. This financial statement is accessible on the Foundation Homepage. In addition to the financial statement, the Foundation will include a full newsletter within the publication on the website.
How can I get involved with the foundation?
• Volunteer for an open position
• Sponsor a earmarked scholarship (min. $1,000 donation) or a grant (min. $500 donation). Scholarships and grant can be earmarked to a specific chapter, profession, cause, etc. once the minimum donation requirement is met. This also allows the sponsor the ability to name the scholarship / grant, selection criteria and requirements.
• Donate to general program fund. No minimum donation is required to donate to this fund. Donations in general fund are disbursed among foundation programs as necessary.
How are the funds from the scholarships funds disbursed to the recipient?
• The Foundation team will disburse the funds directly to the recipients Financial Aid office of their respective university. No funds will be directly disbursed to the recipient.
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From all of us at Beta Chi Theta Foundation, thank you for another successful year and for your ongoing
support.
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