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Chico State Kutz

Chico State Kutz Endowment

Established: April 29, 2010


Official Name: Chico State Charles C. Kutz Chapter Endowment

Benefactor: California State University, Chico (Epsilon Psi)

Permanently Restricted Endowment Corpus: $24,259.00 (7/1/16)

Spendable Balance: $1,789.58 (7/1/16)

 

Statements:
2016 Annual Statement

History
The Honorable Robert W. Kutz, Nu Chapter '67, established this endowment in honor of Charles C. Kutz as a benefit to undergraduates for the purposes of funding scholarship awards to deserving undergraduate initiates, or chapter members of the Epsilon Psi Chapter at Chico State.

Charles Conyngham Kutz, born January 31, 1887, at Mare Island Naval Station to R. Adm George F. Kutz and Catherine Harris Kutz. Graduate of Baleloud High School, 1904. Charles worked for a ship chandler in San Francisco briefly before entering the University of California in 1908 where he was initiated into Chi Phi Fraternity. In 1914 he married Mildred E. Boyne. They had one son. Charles was employed by the Anglo California National Bank, and when hired was one of three bank employees with a driver's license. He became a branch manager in San Francisco and was a pioneer in bank financing of automotives in California. In 1937 he became District Loan Manager for the bank at Chico, California. In 1946 he left the Anglo California National Bank and founded Kutz Electric & Refrigeration Co. in Chico, CA. After twenty-five years he took in two partners and the company became Kutz Hall Thorpe Electric. He became semi retired in 1972 at age 85. From 1904 to 1973 he attended all but two California v. Stanford football games, missing one due to WWII travel restrictions and one due to game postponement following the 1963 Presidential assassination of J.F. Kennedy. He was for many years the senior alumnus at Lambda Chapter of Chi Phi's annual banquet held in San Francisco. C.C. Kutz died in August 1975, survived by his wife of 61 years, his son R.B. Kutz and seven grandchildren, in which Hon. Bob Kutz is the eldest.

Criteria Restrictions
The Alpha Sigma Phi Foundation reviews each chapter endowment fund annually and makes available a percentage of the fair market value of the Chapter 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.

Distribution of funds occurs with approval of either a recognized Alumni Association, recognized Chapter Council, or Fraternity Headquarters Staff unless other arrangements have been established in the endowment agreement.

Endowment Restrictions
Recipients are to be prioritized in the following manner:

a. Fifty percent (50%) of the Spendable Amount is to be awarded to the undergraduate initiate, or provisional chapter member, who has completed 50% to 70% of units or credit hours required for graduation who has earned the highest G.P.A. in the current academic semester.

b. Fifty percent (50%) of the Spendable Amount is to be awarded to the undergraduate initiate, or provisional chapter member, who has completed 50% to 70% of units or credit hours required for graduation who has earned the highest G.P.A. in the most recent two semesters of academic work.

c. Upon agreement of the Grand Chapter Advisor (G.C.A.), the chapter president (H.S.P.), and the alumni housing corporation president (or alumni association president if no house corporation exists) the allocations provided in sub-paragraphs a and b, above may be varied to provide any distribution consistent with the
educational purposes of the Foundation and approved by its staff or directors.

d. If at the time funds become available for distribution the Chico State chapter or provisional chapter is suspended or has become inactive (and remains so suspended or inactive for a period of up to ninety days thereafter as the Foundation in its discretion may allow), the funds for distribution shall be made available to the chapter in good standing nearest geographically to Chico, California, for disbursement in accordance with sub-paragraphs a, b, and c, above.

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