Established: October 18, 2008
Official Name: Indiana University Chapter Endowment
Benefactor: Indiana University (Gamma Chi)
Permanently Restricted Endowment Corpus: $70,499.85 (12/31/19)
Spendable Balance: $6,972.76 (12/31/19)
2018 Annual Statement
History of Endowment
This endowment was established to support the Gamma Chi Chapter at Indiana University in Bloomington, IN.
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. Every gift designated to benefit a chapter will be allocated in the following manner: 70% Temporary Chapter Fund, 20% Permanent Chapter Endowment and 10% Fund for Alpha Sigma Phi.
Priority should be given to undergraduate academic scholarships and leadership programming scholarships. The Foundation may make Qualified Housing Grants to or for the benefit of the chapter. The Foundation may, at its discretion, invest all or any portion of the assets of the Chapter Endowment in loans to the House Corporation for the purpose of construction, renovating or furnishing the housing facilities of the chapter.