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Thawley Family Legacy Scholarship Fund

Thawley Family Legacy Scholarship Fund

Established: Unknown

Official Name: Thawley Family Legacy Scholarship Fund

Permanently Restricted Endowment Corpus: $14,054.96 (12/31/19)

Spendable Balance: $1,261.58 (12/31/19)

2018 Statement

History of Endowment
This endowment was created to honor the Thawley family and the value of legacies in Alpha Sigma Phi.

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 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.

Endowment Restrictions
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 Alpha Sigma Phi legacies currently enrolled as full-time undergraduate or graduate students. Preferential consideration will be given to qualified undergraduates in good standing from any newly chartered or established chapters or provisional chapters.

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