UM - Flint Endowment
Established: September 12, 2015
Official Name: University of Michigan - Flint Chapter Endowment
Benefactor: UM - Flint (Zeta Phi)
Permanently Restricted Endowment Corpus: $470.15 (7/1/18)
Spendable Balance: $0.00 (7/1/18)
2018 Annual Statement
History of Endowment
This endowment was established to support the Zeta Phi Chapter at the University of Michigan - Flint.
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. Every gift designated to benefit a chapter will be allocated in the following manner: 70% Temporary Chapter Fund, 20% Permanent Chapter Endowment and 10% Fund for Alpha Sigma Phi.
The Endowment's distributions shall be utilized exclusively for the following purposes:
- To provide funds to support the chapter for leadership, educational, academic and philanthropic purposes. Some examples include but are not limited to the following: registration costs to attend leadership programs (Fraternity, campus, other); merit or needs based scholarships for members, new members and/or potential members; educational speakers or workshops; chapter or prudential board retreats, etc.
- 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, Better Man Weekend, Elevate - International Leadership Conference, Grand Chapter, etc.
- 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.