Conor Donnelly Memorial Scholarship Fund
Established: January 2019
Official Name: Conor Donnelly Memorial Scholarship Fund
Benefactor: Binghamton University (Epsilon Ni)
Permanently Restricted Endowment Corpus: $4,050.00 (12/31/2019)
Spendable Balance: $0.00 (12/31/2019)
History of Endowment
The Epsilon Nu Chapter has established this scholarship fund as a memorial in the name of their late brother, Conor Donnelly, Binghamton '17, as a benefit to undergraduates of the Epsilon Nu Chapter at Binghamton University.
The Alpha Sigma Phi Foundation reviews each 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 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.
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 male students who are currently enrolled as full-time undergraduate students at Binghamton University. Preferential consideration will be given to members of the Epsilon Nu Chapter of Alpha Sigma Phi.