John Lyon Scholarship Fund
Established: June 11, 2014
Official Name: John Lyon Scholarship Fund
Permanently Restricted Endowment Corpus: $6,000.00 (7/1/16)
Spendable Balance: $0.00 (7/1/16)
2016 Annual Statement
History of Endowment
John Lyon, Radford '87, is a former chapter president of the Delta Theta Chapter and is the 1989 Frank F. Hargear recipient - the Fraternity's highest undergraduate award and a 2009 Delta Beta Xi recipient. He understands better than others the impact our Fraternity can have on making good men Better Men which is why he wanted to establish this fund.
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 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.
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 qualified members currently enrolled as full-time undergraduate or graduate students. Preferential consideration will be given to qualified elected officers in good standing from the Delta Theta Chapter and any newly chartered or established chapters or colonies.