Evin Varner Leadership Fund
Established: April 9, 2014
Official Name: Evin Varner Leadership Fund
Permanently Restricted Endowment Corpus: $32,048.50 (7/1/16)
Spendable Balance: $2,769.10 (7/1/16)
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2016 Annual Statement
This endowment was established to support Fraternity leadership programming.
History of Endowment
This fund was created to honor Brother Evin Varner. Brother Varner loved interacting with the undergraduates at leadership conferences so it was only appropriate that a leadership fund would be established to help provide scholarships for undergraduate men to experience Alpha Sigma Phi at the national level through a leadership program.
Brother Varner served on the Grand Council from 1978 until his death in 1985, including serving as Grand Marshal, Grand Secretary, Grand Junior President and Grand Senior President. In addition, he served as Editor of the Tomahawk and authored more than 100 Fraternity publications including the membership education manual.
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.
The Endowment's distributions shall be utilized exclusively for the following purposes:
This endowment will provide full or partial scholarships for undergraduates to attend national leadership programs such as Academy of Leadership, Better Man Weekend, Burns Leadership Institute, Elevate: International Leadership Conference, SIG Experience or programs not even developed yet. Preferential consideration for leadership scholarships will be given to qualified undergraduates in good standing located in Virginia, North Carolina, South Carolina, Georgia, Florida, Louisiana, newly chartered chapters, provisional chapters and interest groups.