RESTRICTED CHAPTER SCHOLARSHIP FUNDS
Scholarship funds may be created for specific chapters, through gifts from graduate brothers, parents and undergraduates. Currently, the Foundation manages approximately 42 chapter restricted scholarship funds. Scholarship fund size varies from $10,000 to $450,000.
How to create a scholarship fund for your chapter
It is easy. Contact Ben Robinson to get the details or reach him by phone at 859-255-1848 ext 133. Some points to consider:
- To create a permanent fund (only income and appreciation are used for scholarship distributions) the minimum total fund size is $25,000. Gifts from several different sources may be combined for this total. The scholarship needs to be completely funded in at least 3 years.
- Temporary scholarship funds may be created (using both principal and income for distributions.) This type of fund is typically created as a short term solution for scholarship needs.
- Generally speaking an endowed scholarship fund will produce scholarship distributions of 4% of the fund value.
- The fund can be named for the donor or his designee.
- Specific scholarship selection criteria can be determined by the donor within accepted Foundation guidelines. You can be creative. Let's talk about your wishes to see what is possible.
- A chapter can have multiple scholarship funds.
- Funds pay their own investment and administrative fees.
How to create a named scholarship fund available to any chapter
Scholarships can be created in the donor's name or his designee for use by the Foundation in awarding scholarships to any qualifying brother. This type of scholarship helps to fulfill the Foundation's mission to "change a life".