Tom & Adam Brown Leadership Fund
Established: August 09, 2016
Official Name: Tom & Adam Brown Leadership Fund
Permanently Restricted Endowment Corpus: $55,090.00 (12/31/19)
Spendable Balance: $2,392.35 (12/31/19)
Statements: 2018 Annual Statement
History of Endowment
These funds will provide annual scholarships for undergraduate members to attend one of our leadership programs such as Academy of Leadership, Better Man Weekend, the Burns Leadership Institute or Elevate: International Leadership Conference. Preferential consideration will be given to qualified undergraduate brothers from Indiana University and Penn State University, then to qualified undergraduate brothers from any Big Ten school.
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 attend international leadership programs such as Academy of Leadership, Better Man Weekend, Burns Leadership Institute, Elevate: International Leadership Conference, SIG Experience or programs not even developed yet.