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Purdue - Reunion Club

Purdue - Reunion Club Endowment

Established: December 4, 2014


Official Name: Alpha Pi Chapter - Reunion Club Endowment

Benefactor: Purdue University (Alpha Pi)

Permanently Restricted Endowment Corpus: $20,000.00 (7/1/16)

Spendable Balance: $962.24 (7/1/16)

Established: December 4, 2014

 

Statements: FY15 Annual Statement

History of Endowment
The Alpha Pi Reunion Club, a longstanding club of Alpha Sigma Phi alumni (and their wives) from the Alpha Pi Chapter at Purdue University, have established this fund to benefit the brothers, current and future, of the Alpha Pi Chapter. This fund honors those members of th eReunion Club and the brotherhood fostered among them through their membership in Alpha Sigma Phi. Established in 2014 by the initial investment of James M. McCornock (Purdue '57), this fund serves as an enduring legacy of Alpha Sigma Phi and its mission to Better the Man.

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 for qualified educational housing expenses that are not already covered by other funds. 

  • 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.  Selection of recipients will be determined by the Fraternity Headquarters staff or a Scholarship Committee appointed by the Fraternity President & CEO.
  • 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.  Selection of recipients will be determined by the Fraternity Headquarters staff or a Scholarship Committee appointed by the Fraternity President & CEO.

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