Bryan and Mandy Proctor Leadership and Service Fund
Official Name: Bryan and Mandy Proctor Leadership and Service Fund
Permanently Restricted Endowment Corpus: $0.00 (12/21/2016)
Spendable Balance: $0.00 (12/21/16)
History of Endowment
Bryan and Mandy Proctor established this endowment to give back to an organization that has given them so much, as well as to provide the opportunity for the men who will join Alpha Sigma Phi through our focus on growth and expansion.
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 five percent (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.
The Endowment's distributions shall be utilized exclusively for the following purposes:
This endowment will provide full or partial scholarships for undergraduate members to attend Fraternity leadership and educational programs such as Academy of Leadership, Better Man Weekend, Burns Leadership Institute, Elevate: International Leadership Conference, SIG Experience or programs not even developed yet.
60% of the annual spendable balance will be made available for qualified undergrads to attend summer leadership programs. Preferential consideration will be given to first-generation college students and members of provisional chapters or newly chartered/re-chartered chapters.
40% of the annual spendable balance will be made available for chapters/provisional chapters to plan a philanthropic event (fundraising or awareness) for one of Alpha Sigma Phi's official philanthropic partners. Preferential consideration will be given to events that benefit RAINN or any successor with an emphasis on sexual assault awareness and prevention.