Iowa Alpha Charitable Fund
What is the Iowa Alpha Charitable Fund?
Great Question! This fund raises money for the philanthropic causes supported by Phi Kappa Psi Iowa Alpha.
Why did Phi Kappa Psi start this fund?
That is easy. Our motto is "The Great Joy of Serving Others", and this fund helps multiply our ability to serve. Donations to this fund coupled with the thousands of volunteer hours of our members are already changing Iowa City!
Are donations tax deductible?
Of course! And if that inspires you to give even more to the great causes we support... so be it.
What organizations does the fund support?
Throughout the year the fund will support different causes. Right now we're raising money for the Kinnick Scholarship.
Any worthy 501(c)(3) that our members are supporting can be supported by this fund throughout the year. In 2017 Dance Marathon, Kinnick Scholarship, and Boys and Girls Club were the organizations Iowa Alpha volunteered at and helped most.
Money raised through dance marathon is used to fight pediatric cancer and help families currently fighting that battle. Phi Kappa Psi is consistently one of the top fundraising chapters at the University of Iowa, raising over $74,000 in 2018.
Completely operated by the undergraduates, the Kinnick Scholarship awards $15,000 a year in scholarships to incoming freshmen men, employs three undergrads over the summer, and has changed the way fraternity recruitment is done at Iowa.
In 2017, Phi Kappa Psi - Iowa Alpha launched a new chapter of Boys and Girls Club in Iowa City. We have members volunteering Monday-Friday, spending time with the most at-risk children in Johnson county.
How does this help the chapter?
Great question! It helps in two ways.
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Historically, the majority of the costs associated with the Kinnick Scholarship has been paid for by Iowa Alpha's Housing Corporation. Since the scholarship has grown to cost $30,000/year, it made sense to make it a 501(c)(3). Now, every tax-deducible dollar the Iowa Alpha Charitable Fund raises to support the scholarship is a dollar that the Housing Corporation saves!
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Each year the chapter raises tens of thousands of dollars for different organizations. Many of our own members didn't know how much we raised in total each year because the impact was fragmented ($10,000 for Boys and Girls Club, $80,000 for Dance Marathon, $5,000 for Holden Comprehensive Cancer Center). This fund means our supporters only have to give in one location, we're better able to track and thank our supporters, and the we're able to show how essential Iowa Alpha is to the Iowa City community.