Garvey Family Leadership Fund
Established: March 10, 2014
Official Name: Kevin and Jody Garvey and Family Leadership Fund
Permanently Restricted Endowment Corpus: $16,225.00 (7/1/17)
Spendable Balance: $1,262.57 (8/31/17)
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2017 Annual Statement
History of Endowment
This endowment was created to honor the incredible contributions made by Kevin Garvey, Westminster '75 to Alpha Sigma Phi Fraternity spanning five decades. Kevin's service includes serving as President of the Alpha Nu Chapter, a member of the Fraternity Headquarters Staff including Executive Director, a member of the Grand Council including Grand Senior President, the President & CEO of the Alpha Sigma Phi Foundation and a member of the Foundation Board of Directors, including serving as Chairman of the Board. Kevin was a recipient of the Delta Beta Xi Award and the Varner Distinguished Service Award for all his contributions to Alpha Sigma Phi. Kevin's service would not have been possible were it not for the tremendous support of his wife Jody who was a constant presence at Fraternity events, conferences and leadership programs.
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:
Kevin and Jody loved interacting with the undergraduates at international gatherings, which was the motivation to use this endowment to provide even more opportunities for undergraduates to attend international leadership programs. This endowment will provide full or partial scholarships for undergraduates to attend international 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 undergraduates from Westminster College, Ohio Wesleyan University, Miami University, University of Findlay, recently chartered chapters and new provisional chapters.