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Ralph Burns Leadership Institute Fund

Ralph Burns Leadership Institute Fund

Established: 2016


Official Name: Ralph Burns Leadership Institute Fund

Permanently Restricted Endowment Corpus: $0.00

Spendable Balance: $0.00

Statements:


History of Endowment
The Ralph Burns Institute was created in memory of Ralph Burns in 1993 to give every new brother the opportunity to attend a fraternity leadership conference, to develop the skills necessary to better themselves, their chapter and the larger campus community. This endowment was established to provide funding for the Ralph Burns Leadership Institute program which includes scholarships for members to attend.

Criteria Restrictions
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.

Endowment Restrictions
The endowment's distributions shall be utilized exclusively for the following purposes:
This endowment may provide full or partial scholarships for undergraduates to attend the Ralph Burns Leadership Institute or programming dollars to offset the cost to the Fraternity for the program.

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