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Iowa State

Iowa State Endowment

Established: March 8, 2002


Official Name: Iowa State University Chapter Endowment

Benefactor: Iowa State University (Phi)

Permanently Restricted Endowment Corpus: $259,491.62 (7/1/16)

Spendable Balance: $10,970.44 (7/1/16)

 

 

Statements:
2016 Annual Statement

History of Endowment
This endowment was established to support the Phi Chapter at Iowa State.

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

The Endowment's distributions shall be utilized exclusively for the following purposes:

  • To provide funds to support the chapter for leadership, educational, academic and philanthropic purposes.  Some examples include but are not limited to the following: registration costs to attend leadership programs (Fraternity, campus, other); merit or needs based scholarships for members, new members and/or potential members; educational speakers or workshops; chapter or prudential board retreats, etc.
  • To provide funds for scholarships (partial or full) for undergraduate members to attend Fraternity leadership and educational programs that could include but are not limited to:  Academy of Leadership, Burns Leadership Institute, Better Man Weekend, Elevate: National Leadership Conference, Grand Chapter, Sig Experience, etc.  
  • To provide funds for academic and/or needs based scholarships (partial or full) for qualified members currently enrolled as full-time undergraduate or graduate students.

Recommended scholarships:
Highest G.P.A. Scholarship- 25% of HA Budget Allocated for Scholarships Requirements:
This award will be given to the member of Phi Chapter with the highest G.P.A. from the previous semester, as determined by Iowa State University. This award will be given twice per year, based on fall and spring semester grades. Should two or more members share the highest G.P.A., the award will be split equally between recipients.

Most Improved G.P.A. Scholarship- 25% of HA Budget Allocated for Scholarships Requirements:
This award will be given to the member of Phi Chapter with the greatest improvement in cumulative G.P.A. from the previous semester, as determined by Iowa State University. This award will be given twice per year, based on fall and spring semester grades. Should two or more members share the most improved G.P.A., the
award will be split equally between recipients.

Perrv Lee Sumner Scholarship - 25% of HA Budget Allocated for Scholarships Requirements:
This award will be given to the member of Alpha Sigma Phi Fraternity Phi Chapter who has shown his involvement in the community and on campus. Applicants should complete an application and submit a resume to the Scholarship Selection Committee or HA showing all activities that they participate in. The applicants must have a 2.75 G.P.A. to be considered eligible. The application is due by February 1 each year.
This award will be given on an annual basis.

Phi Chapter New Member Scholarship - 25% of HA Budget Allocated for Scholarships Requirements:
This award will be given to a member of Phi Chapter that has just pledged within the last semester. The applicant must complete an application and submit a resume to the Scholarship Selection Committee or HA showing all activities that he participated in prior to pledging. Applicants must have a high school G. P .A. of
3.25 or better on a four-point scale. Applications are due February 1 and October 1 each year.
This award will be given each semester and the amount may vary depending on the number of applicants and his involvement level within his community and his grades.

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