The Jamaica Social Stock Exchange (JSSE) and the Consulate of Philadelphia signed a Letter of Intent to seek funding for the Alpha Institute to allow the school to be listed on the JSSE.
The signing took place on Wednesday, February 12, 2020, at the JSE in Kingston. The JSSE—new market for non-profits started in 2019—was established with its own governance structure, consisting of a board of councillors, chaired by Professor Neville Ying.
Organisations will be required to provide quarterly and semi-annual reports concerning the activities, progress and status of their projects throughout the listing period. Alpha will seek to reach its funding target through donations. Started in 1892 by one of the first sisters, Sister Mary deChantal, Alpha’s music program helped launch the careers of key contributors to jazz (Dizzy Reece, Joe Harriott; pioneers of ska (Don Drummond, Lester Sterling); and reggae (Bobby Ellis, Cedric Brooks, Leroy ‘Horsemouth’ Wallace) as well as vocalists Johnnie Osbourne, Yellowman, and Leroy Smart. The school has been named a dream factory for legendary musicians.
Marlene Street Forrest, Managing Director of the JSE, speaking at the function last week said the Letter of Intent on Cooperation between the Consular Representation in Philadelphia, USA and the Jamaica Stock Exchange (JSE) and the Jamaica Social Stock Exchange, seeks to propel funding and support for the Social Stock Exchange in general but specifically, Alpha School of Music. Street Forrest stated that Alpha is “an institution that has touched every Jamaican in some way through music, past and present and we expect, in the future. Through the JSSE, we hope that social donors will participate in the future growth and sustainability of this noble organization”.
Sister Suzan Frazer from Alpha said at the event that the assistance being afforded to Alpha Institute is a welcome effort because it would assist boys who are already at risk. She further stated that Alpha Institute meets the needs of the boys and shapes them into respectable men of society. Therefore, any assistance that can help in their upliftment is quite welcome and appreciated.