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Strengthening Our Corporate Partnerships For Greater Impact In The Community
STRENGTHENING
OUR CORPORATE PARTNERSHIPS FOR GREATER IMPACT IN THE COMMUNITY
There is something very special about the relationships established in joining Greek-lettered organizations—they exist to provide a place where like-minded persons can engage and support one another. Membership in Phi Beta Sigma Fraternity provides the chance for men of kindred spirits to use their abilities and talents to give back to their communities, and to build networks of people who have a similar vision. Ideally, the fraternity works with the community to establish how it can best serve its neighbors and encourages members to make networks within those communities which will engage and strengthen the communities. These networks include corporate entities, government municipalities, social service agencies and sacred institutions, all of which cannot exist without the communities which utilize them. Partnerships require give and take—each entity needs something from the other. Successful partnerships work when each group achieves its stated goals.
The Cristal administration achieved success in motivating brothers to do their part, and in turn being able to cultivate and develop partnerships which served the greater good. Phi Beta Sigma maintained and strengthened its partnerships with several community and social service groups, by making the extra effort to provide financial support. We’ve donated over $1.2 million to the below organizations:
• The March of Dimes $911,000 with record-setting amount of $303,000 in 2021 • The NAACP $75,000
• National Urban League $50,000 • National Action Network $25,000
• United Negro College Fund $25,000 • Thurgood Marshall College Fund $25,000 • National Sigma Beta Club Foundation $50,000
• PBS Federal Credit Union $50,000
The fraternity made good on its financial promise to the National Museum of African American History and Culture. A check was presented for $200,000, ultimately completing the fraternity’s commitment of $500,000.
The organization presented a check for $250,000 completing our Howard University Endowment of $500,000 three years early.
Sigma continued to nurture its relationships with its partners in service to the community, including:
• AARP
• NAACP
• NOBLE
• National Urban League
• American Cancer Society
• Operation Hope
• Zeta Phi Beta Sorority, Incorporated
A new historic partnership was formed with the Ralph Lauren Corporation
to heighten awareness of racial disparities and social injustice in America. The agreement provided for the following engagement:
• Addressing cultural awareness opportunities within the fashion industry
• Provided $15,000 sponsorship to
Conclave Myrtle Beach
• Provided two internships to our collegiate brothers
• Provided billboards within New York City and Los Angeles to support us broadcasting our Social Unrest Message and Sigma Beta
Clubs.
PROVIDING A COMPREHENSIVE STRATEGY
As a successful corporate executive, Brother Micheal Cristal came to the position of International President with a wealth of talent and experience in how to ensure financial growth and success. His corporate background prepared him for success in leadership with the fraternity. Along with Brother William Frasier, International Treasurer, they’ve achieved record success over the last four years, with plans to significantly raise the income of the Fraternity. While initially he pursued alignment and cooperation through the signing of a MOU with the Phi Beta Sigma National Foundation to secure the financial strength of the Fraternity, it ultimately did not deliver the expectations needed for the Fraternity. Through the leadership of President Cristal, Phi Beta Sigma dissolved our relationship with the PBSNF and started a new foundation, the PBS Impact Foundation, Inc. The PBS Impact Foundation will ultimately manage the annual Impact ONE fundraising campaign, will ultimately provide the financial resources for our programmatic focus areas removing that responsibility from the fraternity...the ultimate goal is for the PBS Impact Foundation to work in tandem on positioning the fraternity for long term financial solvency.
The President approached his goal of financial solvency by working with the General Board to establish new fiscal policies, designed to encourage greater responsibility in spending by members at all levels of the organization. We’re setting a path toward significantly improving the financial strength of the fraternity with two goals in mind: (1) finding additional revenue, and (2) reducing expenses that were invisible to the members.
President Cristal, with over 35 years in retail experience, challenged the General Board that it was time to retire the name Sigma Exchange as it did not support the image of Sigma. With support coming from the IHQ Team, the Branding Committee introduced a new name more fitting of the goal of the store; reflecting the culture, professionalism and comfort of our members. During 2019 Blu Culture Collection was launched offering better pricing, more variety to support the Brother’s Sigma attire needs, as well as Sigma Beta Club and Zeta Phi Beta Sorority and better customer service. Year-To-Date Sales are +55% vs Last Year, trending towards $400,000 in Sales for 2021.
Another goal of the President was to make the Phi Beta Sigma Federal Credit Union a more viable option for financial services to the Brotherhood. With a donation of $50,000 to the Credit Union and some marketing work by the administrative team, the Credit Union has experienced an increase in the numbers of members who are utilizing it for saving and borrowing money. Brothers now understand that using the Credit Union is one more way to invest in the financial growth of the fraternity. The fraternity signed a MOU with PSCFCU defining clear roles and responsibilities of the credit union and the fraternity. The International Director of Bigger and Better Business will serve on the PBSFCU Board of Directors. All new members make an investment towards the PBSFCU that supports the financial viability of the Credit Union.
WHAT WE OFFER We offer Special Project Loans, Share Secured Loans, Collateralized Loans and Special Signature Loans. We offer loans for purposes of Home Improvements, Education, Wedding, Vacation, Bills/Loans Consolidation and Personal.
PHI BETA SIGMA FEDERAL CREDIT UNION HERE FOR YOU! Make the Smart Move
MEMBERSHIP
Visit: www.pbsfcu.org Membership in the Credit Union is open to Sigmas, Zetas, their families, the Fraternity, the Sorority, and their Regions and Chapters. A $28.00 minimum amount is required to open a share account, of which $3.00 pays the application fee and $25.00 purchases 5 shares at $5.00 each, deposited into the account.
© Copyright 2009 Phi Beta Sigma Federal Credit Union Rights Reserved.
OPEN AN ACCOUNT TODAY AND START SAVING WITH US!
WHAT WE OFFER We offer Special Project Loans, Share Secured Loans, Collateralized Loans, Special Signature Loans. We offer loans for purposes of Home Improvements, Education, Wedding, Vocation, Bills/Loans Consolidation and Personal. MEMBERSHIP Membership in the Credit Union is open to Sigmas, Zetas, their families, the Fraternity, the Sorority, and their Regions and Chapters. A $28.00 minimum amount is required to open a share account, of which $3.00 pays the application fee and $25.00 purchases 5 shares at $5.00 each, deposited into the account.
© Copyright 2018 Phi Beta Sigma Federal Credit Union Rights Reserved.
Visit: www.pbsfcu.org
