2024-2025 Financial Goals
FUNDRAISING GOALS
The inaugural annual fundraising goal is a minimum of $140,000. These funds permit the foundation to directly service 20 college students, a minimum of 10 sports programs, at least 10 minority small businesses, and 10 health & wellness recipients. Due to the organizations grant prerequisites, the foundation shall develop personal relationships with all grantees and all payouts will be made directly to each of them. Based upon our projected team sports programs, the Maleka C Stephens Foundation can have a direct impact on a minimum of 150 adolescents and young adults.
PURPOSE OF FUNDS
Graduation Grants
This will be a one-time payout of $1,000 to a minimum of 10 graduating college students, which will be 5 men and 5 women. These students shall demonstrate a strong academic performance within the area of accounting or entrepreneurship as well as pursuing a career within these areas.
Monthly Stipends
The monthly stipends will be $100 paid to enrolled college students to supplement their college living expense. The candidate must demonstrate the need for the financial awards through a vetting process. The foundation seeks to make these payments to a minimum of 10 students.
Sport Programs Grants
The foundation will provide financial grants to youth and high school programs that need financial assistance with the operations of their programs such as but not limited to, equipment and uniforms. Additionally, the foundation shall make financial payments to Historically Black College & Universities (HBCU) athletic departments. The HBCU’s are severally underfunded programs in which makes their efforts difficult to thrive. We are projected to payout $2,000 to a minimum of 10 sports organizations.
Health & Wellness Grants
There will be a one-time payment of $2,000 payments made to a minimum of 10 recipients dealing with a medical illness and seeking to supplement their medical associated with their sickness.
Small Business Grants
The foundation shall offer one-time micro-grants ranging from $500-$5,000 to entrepreneurs that demonstrate a solid business plan, infrastructure, and leadership skills to execute their growth potential. These small business grants will go towards supplementing their business operating expenses.
Operating Expenditures
The expenditure funds go towards the administrative cost of operating the organization. Additionally, the operating expenses shall cover the expenses of developing in-person & virtual programs and events. More importantly, the foundation intends use a minimum of 75% of all funds raised are allocated exclusively to the charitable services. The remaining percentage will be used for operational functions.
