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Alpha Sigma Phi Gives Back Endowment

Alpha Sigma Phi Gives Back Endowment

Established: February 3, 2018

Official Name: Alpha Sigma Phi Gives Back Endowment 

Permanently Restricted Endowment Corpus: $2,400.00 (12/31/2019)

Spendable Balance: $0.00 (12/31/2019)

Statements: N/A

History of Endowment
This endowment was created by Brother William Haffner, Ohio Wesleyan '95, for undergraduates to give back in the form of community service with preference to those who would be involved with Sig Experience. Preference will be given to brothers of the Epsilon Chapter.

Criteria Restrictions
The Alpha Sigma Phi Foundation reviews each endowment fund annually and makes available a percentage of the fair market value of the Fund's assets to be distributed during the subsequent year, which is presently four and one-half percent (4.5%) of the rolling five-year average of the market value of the endowment at the end of the previous fiscal year.

Distributions will be used only for purposes consistent with the Foundation's tax-exempt status under section 501(c)(3) of the Internal Revenue Code as determined by the Foundation.

Selection of recipients will be determined by the Fraternity Headquarters staff or a Scholarship Committee appointed by the Fraternity President & CEO.

Endowment Restrictions
The Endowment's distributions shall be utilized exclusively for the following purposes:
To provide funds for academic and/or needs based scholarships (partial or full) for qualified members currently enrolled as full-time undergraduate or graduate students. Preferential consideration will be given to qualified undergraduates in good standing from the Epsilon Chapter at Ohio Wesleyan.

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