KC Trust Fund

The Kingston College Development Trust Fund ( KCDTF )

1NewCrest@KC (1)



 

Overview

The Kingston College Development Trust Fund (KCDTF) is operated as a tax-exempt entity under the corporation laws of Jamaica. The principal goal is the establishment of an inviolate fund, the income from which is used to assist the school in various areas. So far the fund has contributed to KC in the areas of the computer labs at both campuses and the funding of the Douglas Forrest Administrative Building. We believe that the funds legacy will positively impact the lives of many generations of students and faculty and urge our supporters to contribute to the fund.

History and Modus Operandi

The KCDTF was launched on 16th April 1986. It remained dormant for a number of years but was revitalized in 1997 with a stated goal of J$20 million by the end of 2000. Today the Fund has a Capital Sum of $25 million and the investment income from this capital is used by the directors to pay the expenses of the Trust, fund Development Projects at the school and if approved by the members, contribute to boosting the Capital Sum.

It is a collaborative effort of the School, the Parent Teachers Association and The KC Old boys Association and all these entities are corporate members who are represented at the general meetings of the Trust. The other members of the Trust include the individuals that subscribed to the incorporation of the Fund (these were officers of the entities at the time) and KCOBA USA Inc who were added by the directors as a corporate member, in recognition of their substantial contribution to the Fund..

The Presidents of KCOBA and the KCPTA as well as the chairman of the board of governors and the principal of the school, by virtue of their office are automatically directors of the Fund. The other directors of the fund are elected by members in general meeting and serve for at most three (3) years before they come up for re-election on a rotated basis. The directors are responsible for management of the business of the Trust Fund and they elect a Chairman who presides at their meetings and at the general meetings

Contributions

Outside of its investment activities the Trust Fund raises funds through donations and contributions from individuals and organizations and through its principals, that is: the school , the parent teachers association and the various chapters of old boys.
Donors resident in the United States can also get a tax advantage if their donation is routed through the KCOBA USA Inc which is a tax exempt alumnus association registered in the United States in support of Kingston College.



 

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