2011 annual reportG o l d e n K e y I n t e r n a t I o n a l H o n o u r S o c I e t y

w w w . g o l d e n k e y . o r g

taBle oF ContentS a meSSage From the Board Chair

meSSage From the Board Chair .......... 2

2011 SoCiety leaderShip ...................... 3

aChieving in aCademiCS........................ 5

guiding By leaderShip ......................... 7

giving through ServiCe ........................ 9

SCholarShip award winnerS ............. 11

golden key SponSorS .......................... 13

ConSolidated StatementSoF FinanCial poSition ........................... 15

ConSolidated StatementSoF aCtivitieS .......................................... 16

ConSolidated StatementSoF expenSeS By region ......................... 17

expanSion report/gloBal overview .................................. 18

William W. Asbury,

chair, Board of directors

dear Golden Key Members and Friends:

Over the past 35 years, Golden Key has proudly recognized academic

excellence in over 10 million exemplary graduate and undergraduate students,

including 80,874 new members who joined the Society in 2011. The mission

of Golden Key is to enable members to realize their potential and we believe

this can be accomplished through the advancement of academics, leadership

and service – our pillars.

In advancing academics, Golden Key has awarded over 10 million dollars in

scholarships and awards since its founding. In 2011, Golden Key awarded

over $1,000,000 to members. We are thrilled to be able to continue our

graduate scholarship program and provided thirty $10,000 scholarships to excellent student members in top

postgraduate programs around the world.

Our Regional Summits last year provided thousands with personal and professional training. Members were

trained on topics that included: job/internship searches, postgraduate school preparation, chapter development

skills, personal development and service project initiatives.

Our service pillar was advanced as Golden Key sponsored events delivered over 180,000 hours of volunteer

service around the world. We will continue to emphasize the importance of performing impactful service to our

communities and strive to take this great accomplishment to an even higher level in 2012.

Within this report, you will learn in more detail about Golden Key’s other accomplishments and how we are

continuing to pursue our mission of “enabling our members to realize their potential through the advancement of

academics, leadership and service.”

On behalf of the board and staff, we thank you for your support and your efforts in making Golden Key a

successful and meaningful organization for its members.

Sincerely,

w w w . g o l d e n k e y. o r g • 2

2011 SoCiety leaderShip

“The future lies in creative, future-orientated, wise, life-long-learning focused graduates. Golden Key provides the platform to launch young people on this path.”

- Dr. Derek Swemmer, BoD member

Board oF direCtorS Michael andrews• ILC Student Member • University of Florida

williaM w. asbury (chair)• Vice President Student Affairs, Emeritus• The Pennsylvania State University

selwyn cornish• Adjunct Associate Professor • Australian National University

eMily cosTello• Vice President of Channel Relationships • Robert Half International

leiGh Fox• Sr. Vice President of Finance and Operations• Cincinnati Bell

andrew lobo• Director of Talent Management• The Coca-Cola Company

cecilia ManriQue, Ph.d.• Golden Key ILC President• Professor and Chair, Political Science/ Public Administration• University of Wisconsin-La Crosse

aniTa Miller, ed.d. • Associate Vice Chancellor for Academic Affairs • University of Massachusetts Boston

bradFord rainey• Executive Director• Golden Key International Honour Society

Tracy ryan• Senior Vice President• Compensation Executive• Bank of America

Jerry sulliVan • Executive Director • American Association of Collegiate Registrars and Admissions Officers

dereK sweMMer, d litt et Phil.• Registrar• University of the Free State

PeTer VeruKi• Director, Corporate Relations • Vanderbilt University • Owen Graduate School of Management

Gary weed• Retired: Vice President• ExxonMobil

international leaderShip CounCilcecilia ManriQue, Ph.d. (PresidenT)• Professor and Chair, Political Science/ Public Administration• University of Wisconsin-La Crosse

harrieT waTKins (Vice PresidenT)• Manager, Center for Distance Education • University of Texas at Arlington

bonnie cooPer (secreTary)• Freelance Editor • North Dakota State University

aManda Kennedy, Ph.d. (aluMni MeMber) • Australian Centre for Agriculture and Law• University of New England

Michael andrews (sTudenT MeMber)• University of Florida

CounCil oF adviSorSharrieT waTKins (chair)• Manager, Center for Distance Education • University of Texas at Arlington

Glenda caMPbell-eVans, ed.d. (asia-PaciFic)• Associate Dean of International CSESS• Edith Cowan University

bruce shore, Ph.d. (canada)• Professor Emeritus• McGill University

charl cilliers (souTh aFrica)• Director, Centre for Student Counselling and Development • University of Stellenbosch

anneTTe sTaebler (us reGion 1)• Assistant Director, Student Orientation • Stony Brook University

beVerly Forbes (us reGion 2)• Director of Experiential Education• Liaison to the Batten College of Engineering and Technology• Old Dominion University

JenniFer wriGhT (us reGion 3)• Director, Integrity and Ethical Development• University of Central Florida

JeFF Fox, M.a. (us reGion 4) • School-Based Scholars Coordinator & Adjunct Professor • Northern Kentucky University

carol KosisKo (us reGion 5)• Assistant to Vice President for University Advancement• Ball State University

doniTa whiTney-baMMerlin, Ph.d.(us reGion 6)• Instructor, Department of Management• College of Business Administration• Kansas State University

KeVin schucK (us reGion 7)• Librarian• University of Texas at Arlington

hal Miller, Ph.d. (us reGion 8)• Professor, Psychology• Brigham Young University

rhea duncan, M.ed. (us reGion 9)• Career Consultant/Student Engagement Coordinator• W.P. Carey School of Business• Arizona State University

KaThleen F. Pollard (us reGion 10)• Office Coordinator, Photo and Imaging Center • Syracuse University`

CounCil oF Student memBerS Michael andrews (chair) • University of Florida

dallan PiTTMan (asia-PaciFic)• Griffith University

Jason du Plessis (souTh aFrica)• University of Cape Town

odion Kalaci (canada)• University of Windsor

williaM leonard (us reGion 1) • University of Delaware

ashley Manson (us reGion 2)• Middle Tennessee State University

eMy saKano (us reGion 3) • University of Central Florida

ryan hendrix (us reGion 4) • University of Louisville

Kayhlyn braun (us reGion 5) • University of Wisconsin-La Crosse

laura cox (us reGion 6) • South Dakota State University

KrisTina ToTh (us reGion 7) • University of Texas at Arlington

Michelle GlaiTTli (us reGion 8) • University of Utah

Milly chanG (us reGion 9) • University of Hawai’i at Manoa

laura Molyneaux (us reGion 10) • University of Massachusetts Amherst

w w w . g o l d e n k e y. o r g • 4

aCademiCS

eVanGeline i. chirayilJames Cook University - Asia Pacific

Chapter President (Singapore Campus)

“Golden Key’s partnership with renowned

and established organizations has opened

the door of opportunity for me to attend

academic conferences across the globe. I

have interacted with fellow scholars and

leaders whose combined experiences have

broadened my perspective on culture and

humanity. Without my involvement with

Golden Key, I would never have the chance

to explore the world and I am grateful.”

lesley ann TarasoFFBishop’s University

Chapter Member

“Working with people from all different

backgrounds and departments can

lead to some really creative ideas and

interdisciplinary teamwork! I love

that Golden Key celebrates a academic

achievements whatever the discipline.”

linna JinMcGill University Postgraduate

Postgraduate Study Award Winner

“I am honoured to be selected as one of

the recipients for the 2011 Golden Key

Canadian Postgraduate Study Award. GK

has been a big part of my undergraduate

experience and I had the opportunity

to meet so many exceptional people

along the way. This scholarship makes a

significant contribution to help make my

continued studies possible.”

“Golden Key offers an opportunity for students to strive towards academic excellence within their

chosen field and to maintain that level of academic standing throughout their academic career.”

- Monique Withering, University of the Western Cape - Chapter Co-Advisor

The University of Tasmania chapter ran a series of panels in 2011 to

engage members in social and intellectual topics, including one that

addressed the future of university education in Tasmania. Panellists

included the University Vice Chancellor Peter Rathjen, and the

local member of the Australian Parliament Andrew Wilkie. Over 80

students and public citizens attended to listen and contribute to the

discussion, and the panel was broadcast live on local radio. A live

Twitter Feed was also projected on the screen above the panel which

allowed participation from those who were unable to be present but

wished to contribute to the discussion in a public forum.

In April 2011, four Golden Key members at the University of Michigan-

Flint were awarded the Maize and Blue Distinguished Scholar Award,

the highest academic award bestowed upon a graduate of the University

of Michigan-Flint. They were Trisiani Affandi, Bachelor of Science in

Chemistry; Samantha J. Honea, Bachelor of Arts in Criminal Justice

and Sociology; Mixsy L. Trinidad, Bachelor of Science in Elementary

Education; and Cameron K. Waites, Bachelor of Science in Honors

Health Sciences.

13 of the 27 Mandela Rhodes Scholarship winners for 2011 were Golden Key members:

• LauraBrooks

• PonayiChitaka

• TarsiannaMachekabuwe

• LeratoMakhale

A C A d e M I C S P o T l I g H T S

aSia paCiFiC united StateS South aFriCa

• NadiaMarais

• CaitlinMiles

• NoellaMoshi

• DananaiMuchemenye

• ZamafuzeNgcobo

• QhelileNyath

• MaryOpondo

• JonathanReader

• NtuthukoTsokodibane

w w w . g o l d e n k e y. o r g • 6

leaderShiplawrence wonGRMIT University

Chapter President

“One cannot lead without having served

those they will be leading; Golden Key

community service projects enable

members to serve their communities for

the greater good and in the process, realises

their potential as society’s leaders.”

KiM drudeUniversity of the Free State

Chapter President

“By having various leadership skills experience

one knows how to tackle all challenging aspects

within the work environment. Through excellent

leadership exposure one has the ability to

convince, motivate and support your fellow

colleagues. The most positive leadership character

that can be adapted is that of getting to know

yourself better, through leading several people.

Leadership gives you the edge!”you the edge!”

sduduzo MncwabeKwazulu-Natal Howard College

Chapter President

“Leadership is most beneficial when it is

inclusive and developmental in nature. The

leader’s responsibility entails harnessing each

team member’s potential ability for the benefit

of the organization”

odion KalaciUniversity of Windsor

Regional Student Leader of the Year

Award winner

“It’s an honour winning this award and I am

very grateful to Golden Key International

Honour Society to be chosen as Canada’s

Student Leader of the Year! This award will

help pay for my tuition for my first year of

medical school in September.”

The Deakin University chapter piloted its first Leadership Experience Day for over 30 regional high school students in

collaboration with the University’s Equity & Diversity Unit. These students were selected from 5 schools in low socio-

economic areas, and came from environments where they do not receive a lot of support and face numerous social and

financial obstacles. The program saw students complete exercises to help them define leadership qualities in the areas

of politics, art, business, and in the community. The students then had a chance to listen to a keynote speech given

by Australian UN Youth Ambassador, Ben Grooms, who talked about his leadership journey. All the students were

presented with information, resources, and show bags with information from local community youth organisations

that would help them get involved in leadership projects in their community. The feedback from participants was

resoundingly positive and very touching for the GK volunteers involved.

l e A d e r S H I P S P o T l I g H T - A s i a Pa c i f i c

“Golden Key brings exposure to various leadership forms, where one can grow and learn valuable life lessons. it is a place where individuals

come together and make a difference by serving others.”

- Nicole Lardner, University of Pretoria - Chapter President

w w w . g o l d e n k e y. o r g • 8

ServiCe

S e r V I C e S P o T l I g H T S

In 2011, the Monash University chapter

ran an Amazing Race around Melbourne

city titled the “Race Against Depression”

to raise funds for the Lifeline

foundation, responsible for raising

awareness of available resources and

educating people to help battle youth

depression. The event saw teams of

competitors solve clues and challenges

at specific locations to finish the race.

Over $8,000 was donated, and over 100

individuals participated in the event.

aSia paCiFiC

Paul wiseManQueensland University of Technology

Former Chapter Vice President

“We all know that serving others is good

for the soul, but I am always surprised at

how much I learn about the other two

pillars through service. Serving offers a

tremendous opportunity to apply much of

our academic knowledge and to practice

and hone our skills in leadership. Service

often appears to be the little brother

to the other two pillars, but is through

service that academics and leadership are

grounded in reality. If you want to put

your academic knowledge into practice,

and want real experience in leadership,

find a place to serve.”

anna KrJaTianUniversity of Western Sydney

Former Chapter Vice President

“As part of Golden Key’s initiative to engage

with community service, in 2011, the UWS

Chapter has taken part in the Midnight

Basketball project, where we engaged with

the young members of the community and

provided them with workshops on Anti-

Bullying. It was so amazing to interact with

the youth of the community, to hear their

perspectives on the issues, to provide them

with insight and to see their transformation

and enthusiasm within the short amount

of time. As such, the benefits of community

services enable us (I believe) to become fuller,

well-rounded individuals of, and for, our society.”

neelaKshi danGUniversity of Delhi

Chapter Treasurer

“I am honoured to be selected as one of

“Education and community always go hand

in hand. It gives me immense pleasure to be a

part of Golden Key because it has helped me

to realize how we can be a part of community

service. Being a part of Golden Key gives me

the opportunity to meet new people and not

only work with them but also learn new things

from them. Golden Key blends academics,

leadership and community service in such a way

that one feels an overall personal development

while being a member. I feel worthy knowing

that I can help my peers and community by

participating in community service.”

The University of British

Columbia (UBC) chapter won a

Golden Key Service Award and is

using the money to collaborate

with the UBC Wellness Center

and the Vancouver School Board

to educate about Type 2 Diabetes

Mellitus (T2DM). T2DM is

Canada’s fastest growing disease—one that diagnoses 65,000

Canadians each year, and students are especially at risk due to their

diet and lifestyles. T2DM is completely preventable, so education in the

preventative realm is the chapter’s first step.

The Golden Key

Stellenbosch chapter

made 2,050 sandwiches

with nearly 200

volunteers on 5 May

2011 that were given to

the Feeding in Action

Project in Stellenbosch.

The sandwiches were distributed to the needy at 15

locations in the Stellenbosch area, including schools in

Ida’s Valley, Cloetesville, Kayamandi and Jamestown.

Canada South aFriCa“service is about answering a higher calling and is a mutually beneficial process that leaves all participants

touched by the process.”

- Tonia Overmeyer, University of the Western Cape - Chapter Primary Advisor

w w w . g o l d e n k e y. o r g • 1 0

2 0 1 1 S c h o l a r s h i p a wa r d W i n n e r s

Michael beelerMassachusetts Institute

of Technology$10,000

JosePh blandinGThe University of

Oklahoma $20,000

sTeVen cohenUniversity of Maryland

$10,000

Kelsey coKerGraduate Institute of Applied Linguistics

$20,000

KaTe cornFordNew York University

$10,000

lee decKelbauMConcordia University

$10,000

Jaron Van diJKenUniversity of Alberta

$10,000

caTherine GrossManThe MFA Program for Writers

at Warren Wilson College$10,000

carol JeFFersAmerican Public

University System$10,000

Julie KanGasSouthern Methodist

University$10,000

Joshua KniGhTUniversity of Colorado

Denver$10,000

brian PaTricK KurisKy

Old Dominion University$10,000

rebeKah KurPielLa Trobe University

$20,000

Joshua leVyUniversity of

Massachusetts Amherst$10,000

Michael lorenceGeorgia State University

$10,000

KayleiGh MacMillanSimon Fraser University

$10,000

Kazlin MasonState University of New

York at Fredonia$10,000

brandon Maxey University of Arkansas

$10,000

ryan MeinTJesNorth-West University

$10,000

Mallory MinTerTufts University

$10,000

diana nGuyenThe University of

California, Los Angeles$10,000

debbie oriGho-ManiGaT

Palm Beach Atlantic University$20,000

Joshua PeGueroColumbia University

$10,000

rebecca QuinnJohns Hopkins University

$10,000

MiGuel sanTiaGo-riosUniversidad de Puerto Rico,

Recinto de Rio Piedras$10,000

uniQue shawBowling Green State

University$20,000

lindsay shePardThe University of Utah

$10,000

naVin sinGhNorthern Arizona

University$10,000

nicole sTaudTNorthern Kentucky

University$10,000

PaMela VerMaThe University of British

Columbia$10,000

golden key graduate SCholar award

Not Pictured

2 0 1 1 S c h o l a r s h i p a wa r d W i n n e r s

aManda ellisEdward Via Virginia College

of Osteopathic Medicine$10,000

benJaMin Farnia Baylor College of Medicine

$10,000

chelsea liuThe University of Adelaide

$10,000

blaKe silVerThe George Washington

University$20,000

KaTe cornFordNew York University

$10,000

lee decKelbauMConcordia University

$10,000

CounCil oF adviSorS award

geiCo liFe SCholarShip

Not Pictured

QS world grad tour SCholarShip QS world mBa tour SCholarShip

Pa r t n e r - S p o n s o r e d S c h o l a r s h i p s

ForTino arroyoCalifornia State University, Los Angeles $1,000

Maxine GoMezDePaul University$1,000

sara ehrensberGerMiami University$5,000

bashar JaMeelUniversity of Windsor$5,000

sTePhen heaTonGeorgia State University$1,000

Melinda hernandezFlorida Gulf Coast University$1,000

sandy Jean-louisFlorida International University$1,000

leysan JonesThe University of Utah$1,000

aMy KlebahnThe University of Texas at San Antonio$1,000

rolanda MorGanOld Dominion University$1,000

KaTherine roberTsRowan University$1,000

Theresa ThaxTonAshford University$1,000

“i would like to personally thank Golden Key for awarding me with this scholarship. Throughout my college career, i have not had the chance to fully devote my time to education. with this scholarship, however, i will have the ability to concentrate on law school in the Fall. Through

your generosity, i will finally have the opportunity to reach my full potential as a student and as future attorney.”

- Brandon Maxey, Golden Key Graduate Scholar Award Recipient

w w w . g o l d e n k e y. o r g • 1 2

G o l d e n K e y S p o n s o r s

1,000,000 level: u.S. dollarS

100,000 level: u.S. dollarS

50,000 level: u.S. dollarS

G o l d e n K e y S p o n s o r s

additional SponSorS

bank of americaBank of America is headquartered in Charlotte, North Carolina, and provides a diverse

range of banking and financial services in more than 30 countries. Bank of America has

been a valued Golden Key partner since 1995 and is currently the longest-standing partner

of the Society. Each year through Bank of America’s generous support, Golden Key is able

to award a variety of scholarships. Bank of America provides Golden Key members with

the Golden Key credit card with WorldPoints™ that allows members to support Golden

Key while earning points towards cash back, air travel, merchandise, and more. Society

members can also sign up for a Golden Key personal checking account with Golden Key

branded checks through Bank of America.

better world booksBetter World Books helps fulfill your service standard in a meaningful way. We provide

everything you need to implement a book drive on your campus with support from our team

of dedicated Campus Reps. The book drive creates funding for literacy, funding for your

group and keeps unwanted textbooks out of the landfill.

envisionFor 25 years, Envision EMI has honored and inspired the world’s most accomplished and

motivated students through interactive, experiential and engaging programs, empowering them

to reach high, to excel and to achieve their educational and career goals. Envision holds unique

leadership and pre-professional conferences for students from elementary school through college.

Envision partners with Golden Key in nominating its highly qualified members to take part in the

International Scholar Laureate Program (ISLP), a short-term study abroad opportunity. Due to

its longstanding relationship with Golden Key, Envision is proud to extend a limited number of

scholarship awards exclusively to Golden Key members to attend ISLP each summer.

geicoGEICO has been helping drivers with their auto insurance needs since 1936 and is the third

largest private passenger auto insurer in the United States. GEICO takes pride in being the

fastest-growing auto insurance company in the U.S.; the company is equally proud of the

work it does outside the office walls. Part of GEICO’s corporate mission is to encourage

active, involved citizenship. More than 4,000 employees volunteer an average of 5 hours a

week helping many worthwhile organizations.

graduate school sponsors

“we have forged a strong partnership with Golden Key throughout the years.

Golden Key’s continued commitment to integrity, collaboration, innovation, respect,

diversity, excellence and engagement ring true with Geico’s core values.”

- Deedre Daniel, Director, Partnership Marketing - GEICO

•Accenture

•Adams&Adams

•Alibris

•AustralianGovernment,

Department of Defence

•AustralianGovernment,

Department of Human Services

•AustralianSecretIntelligence

Service

•BankofMontreal

•BetterWorldBooks

•EducationDynamics

•AtkinsonGraduateSchoolof

Management, Willamette University

•DukeUniversity,FuquaSchool

of Business

• IEUniversity

• InternationalWaterCentre

• JenkinsGraduateSchoolof

Management, North Carolina

State University

•EpicResearch,LLC

•Exxaro

• InterviewofStature

• Investec

• JohnsonInc.

•Lenovo

•Marsh,Affinity

Group Services

•McKinsey&Company

•MeltwaterGroup

•MRMWorldwide

•NedbankGroup

•Peterson’s

•Procter&Gamble

•Optiver

•QuacquarelliSymondsLimiteds

•ResearchinMotion

•SOSTutoring

•TeachSouthAfrica

•ThePrincetonReview

•TheWashingtonCenter

•UniversityofSouthern

Mississippi International

Programs

•MooreSchoolofBusiness,

University of South Carolina

•RochesterInstituteofTechnology

•StetsonUniversitySchoolofLaw

•StevensInstituteofTechnology

•ThunderbirdSchoolofGlobal

Management

•UniversityofMiamiSchoolof

Business

•UniversityofSanFranciscoSport

Management Program

•WakeForestSchoolsofBusiness

w w w . g o l d e n k e y. o r g • 1 4

assets• Current assets: • Cash and cash equivalents ...................................................................$ 1,866,895 ....................................................................$ 1,727,472 • Dues Receivable .................................................................................... 86,832 .................................................................... 100,722 • Accounts receivable .............................................................................. 144,429 .................................................................... 233,774 • Accounts receivable, Malaysia Golden Key International Honour Society ........................................................... — .................................................................... 45,293 • Investments, at market value ............................................................... 5,351,749 .................................................................... 5,203,369 • Current portion of note receivable ......................................................... — .................................................................... 26,747 • Current portion of note receivable – Related Party ....................................................................................... — .................................................................... 6,063 • Advances - Related Party ..................................................................... — .................................................................... 25,904 • Inventories ............................................................................................ 186,053 .................................................................... 164,420 • Prepaid expenses .................................................................................. 165,175 .................................................................... 144,327

ToTal currenT asseTs ...............................................................................$ 7,801,133 ....................................................................$ 7,678,091

• Leasehold improvements and furniture & equipment, net of accumulated depreciation of $821,224 & $846,525 ....................... 588,173 .................................................................... 682,574• Investments – Invest in Excellence at market value ................................. 90,745 .................................................................... 90,737• Note receivable, net of current portion ...................................................... 1,439,515 .................................................................... 1,428,175• Note receivable – Related Party, net of current portion ................................................................................ — .................................................................... 194,066• Deposits .................................................................................................... 45,389 .................................................................... 33,419

ToTal asseTs ...............................................................................................$ 9,964,955 ....................................................................$10,107,062

liabilities and net assets • Current liabilities: • Accounts payable ..................................................................................$ 518,890 ....................................................................$ 359,986 • Accrued compensation .......................................................................... 306,152 .................................................................... 250,731 • Other accrued expenses ........................................................................ 591,216 .................................................................... 473,111 • Deferred revenue ................................................................................... 296,340 .................................................................... 1,267,719

ToTal currenT liabiliTies .........................................................................$ 1,712,598 ....................................................................$ 2,351,547

• Deferred rent ......................................................................................... 498,496 .................................................................... 434,800

ToTal liabiliTies .........................................................................................$ 2,211,094 ....................................................................$ 2,786,347

COMMITMENTS AND CONTINGENCIES• Net assets: • Unrestricted .......................................................................................... 7,601,670 .................................................................... 7,216,145 • Temporarily restricted ........................................................................... 52,191 .................................................................... 4,570 • Permanently restricted .......................................................................... 100,000 .................................................................... 100,000

ToTal neT asseTs ........................................................................................ 7,753,861 .................................................................... 7,320,715

ToTal liabiliTies and neT asseTs .............................................................$ 9,964,955 ....................................................................$ 10,107,062

2011 2010

support and revenue• Membership dues .......................................$ 6,476,504 $ — $ — $ 6,476,504 $ 6,388,502• Member services ........................................ 1,003,335 — — 1,003,335 1,071,515• Corporate sponsorships contributions,

and contributions in kind ........................... 256,918 106,778 — 363,696 386,367• Royalties .................................................... 2,254,406 — — 2,254,406 1,500,182• Investment gains and losses

and interest income, net ............................ 300,948 — — 300,948 376,842• Other .......................................................... 48,605 — — 48,605 162,481• Net assets released from restrictions ......... 59,157 (59,157) — — —

ToTal suPPorT and reVenues .................... 10,399,873 47,621 — 10,447,494 9,885,889

program expenses• Student recognition .................................... 3,200,739 — — 3,200,739 3,030,714• University activities ................................... 1,810,736 — — 1,810,736 2,051,806• Member benefits ........................................ 2,799,054 — — 2,799,054 2,328,447• Leadership/volunteer training .................... 764,616 — — 764,616 1,033,146

ToTal ProGraM exPenses ........................... 8,575,145 — — 8,575,145 8,444,113

fundraising and generaladministrative expenses• Fundraising ................................................ 412,371 — — 412,371 321,528• General and administration ....................... 1,026,832 — — 1,026,832 672,085

ToTal FundraisinG and General and adMinisTraTiVe exPenses ................... 1,439,203 — — 1,439,203 993,613

ToTal exPenses ............................................ 10,014,348 — — 10,014,348 9,437,726

Change in net assets before minimum

pension liability adjustment........................... — — — — 448,163

Minimum pension liability adjustment ........... — — — — 16,650

change in net assets..................................... 385,525 47,621 — 433,146 464,813

net assest, beginning of year ....................... 7,216,145 4,570 100,000 7,320,715 6,855,902

net assets, end of year .................................$ 7,601,670 $ 52,191 $ 100,000 $ 7,753,861 $ 7,320,715

unresTricTed TeMPorarily PerManenTly neT asseTs resTricTed neT assesTs resTricTed neT assesTs 2011 ToTal 2010 ToTal

2011 ConSolidated StatementS oF FinanCial poSition 2011 ConSolidated StatementS oF aCtivitieS

w w w . g o l d e n k e y. o r g • 1 6

STUDENT RECOGNITION: 47%

MEMBER BENEFITS: 15%

LEADERSHIP/VOLUNTEER TRAINING: 5%

G & A: 7%

UNIVERSITY ACTIVITIES: 26%

G & A: 12%STUDENT RECOGNITION: 30%

UNIVERSITY ACTIVITIES: 30%

MEMBER BENEFITS: 15%

LEADERSHIP/VOLUNTEER TRAINING: 8%

FUNDRAISING: 5%

canadaStudent recognition ..................... 204,726University activities..................... 113,645Member benefits.......................... 64,317Leadership/Volunteer training ..... 19,679ToTal ProGraM ......................... 402,367 ..... 93%

Fundraising ................................. —G&A ........................................... 32,566ToTal FundraisinG & G&a ........ 32,566 ....... 7%

ToTal all ProGraM exPenses ...$ 434,933 ... 100%

STUDENT RECOGNITION: 85%

G & A: 15%

indiaStudent recognition ..................... 33,272University activities..................... —Member benefits.......................... —Leadership/Volunteer training ..... —ToTal ProGraM ......................... 33,272 ..... 85%

Fundraising ................................. —G&A ........................................... 6,064ToTal FundraisinG & G&a ........ 6,064 ..... 15%

ToTal all ProGraM exPenses ...$ 39,336 ... 100%

australiaStudent recognition ..................... 348,982University activities..................... 345,318Member benefits.......................... 166,815Leadership/Volunteer training ..... 87,012ToTal ProGraM ......................... 948,127 ..... 82%

Fundraising ................................. 62,721G&A ........................................... 138,487ToTal FundraisinG & G&a ........ 201,208 ..... 18%

ToTal all ProGraM exPenses ...$ 1,149,335 ... 100%

new zealandStudent recognition ..................... 17,913University activities..................... 11,452Member benefits.......................... 757Leadership/Volunteer training ..... —ToTal ProGraM ......................... 30,122 ..... 91%

Fundraising ................................. —G&A ........................................... 3,074ToTal FundraisinG & G&a ........ 3,074 ....... 9%

ToTal all ProGraM exPenses ...$ 33,196 ... 100%

STUDENT RECOGNITION: 54%

UNIVERSITY ACTIVITIES: 34%

MEMBER BENEFITS: 2%

G & A: 9%

t h e F o l l o w i n g i s a n a b r i d g e d S e t o f au d i t e d F i n a n c i a l s f o r 2 0 1 1 2 0 1 1 e x pa n s i o n r e p o r t a n d G l o b a l o v e rv i e w

2011 ConSolidated StatementS oF expenSeS By region expanSion report

ToTal ProGraM .................................................................. $ 142,332 ...........86%

ToTal FundraisinG & G&a ................................................. $ 23,563 ...........14%

ToTal all ProGraM exPenses ............................................ $ 165,895 .........100%

*G & A stands for General and Administrative.

south africaStudent recognition ..................... 67,300University relations ..................... 134,599Member benefits.......................... 70,165Leadership/Volunteer training ..... 36,400ToTal ProGraM ......................... 308,464 ..... 85%

Fundraising ................................. 11,510G&A ........................................... 44,576ToTal FundraisinG & G&a ........ 59,086 ..... 15%

ToTal all ProGraM exPenses ...$ 364,550 ... 100%

G & A: 12%

UNIVERSITY RELATIONS: 37%

STUDENT RECOGNITION: 18%

MEMBER BENEFITS: 19%

LEADERSHIP/VOLUNTEER TRAINING: 10%

FUNDRAISING: 3%

united statesStudent recognition ...................... 2,527,963University activities ...................... 1,205,139Member benefits ........................... 2,356,417Leadership/Volunteer training ...... 620,942ToTal ProGraM .......................... 6,710,461 ......86%

Fundraising .................................. 337,557G&A ............................................ 779,085ToTal FundraisinG & G&a ......... 1,116,642 ......14%

ToTal all ProGraM exPenses .. $ 7,827,103 ....100%

UNIVERSITY ACTIVITIES: 15%

MEMBER BENEFITS: 30%

LEADERSHIP/VOLUNTEER TRAINING: 8%

FUNDRAISING: 5%

G & A: 10%

STUDENT RECOGNITION: 32%The Golden Key Foundation was established in July 2009 to provide funding in

support of the programs of Golden Key. The programs support the Golden Key

pillars of Academics, Leadership and Service.

2011 service hours

2011 chapter base expansion

2011 global number of chapters

2011 revenue by regionthe golden key foundation

Brandon University

Colorado State University-Pueblo

DeVry University, Indianapolis

ECPI University(various locations)

Indraprastha College

Jesus and Mary College

Lady Shri Ram College

Miranda House

Polk State College Sri Venkateswara College

St. Petersburg College

Strayer University University of British Columbia,

Okanagan

University of Hawai’i - West

O’ahu

University of the Rockies

aSia-paCiFiC

8,793north ameriCa

57,164South aFriCa

140,645 185,069total

AUSTRALIA................................................ 1,233,498 CANADA .................................................... 641,293INDIA ........................................................ 6,759 NEW ZEALAND .......................................... 57,895 SOUTH AFRICA .......................................... 374,063GK FOUNDATION ....................................... 135,249 UNITED STATES ......................................... 7,998,737

ToTal .......................................................$ 10,447,494

The bahaMas: 1 canada: 21ausTralia: 32 india: 1

uniTed sTaTes: 347souTh aFrica: 14new zealand: 2Malaysia: 9 VieTnaM*: 1

*The Chapter at RMIT International University in Vietnam is a sister chapter of RMIT in Australia.

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atlanta, Georgia 30338

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