Parson Scholarship Fund
Official Name: Parson Scholarship Fund
Permanently Restricted Endowment Corpus: $35,000.00 (7/1/2019)
Spendable Balance: $4,514.44 (7/1/2019)
201* Annual Statement
History of Endowment
This endowment was established to support undergraduate students to attend leadership programs, in particular the Burns Leadership Institute.
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 the Burns Leadership Institute.