Chapter Designated Funds

Any chapter can create an endowment. Three things need to happen for a chapter to start a fund:

1. The chapter must approve it
2. A fund agreement is signed by the chapter president and the Alpha Kappa Psi Foundation
3. A “kick-off” contribution of $250 or more is received by the foundation from the chapter or an individual

Because tax-deductible contributions were used to create these endowments, the IRS only allows the foundation to use funds for educational purposes. Chapters have the option of awarding their fund to one or more individuals in their chapter, or use the funds to offset registration fees for the Principled Business Leadership Institute or College of Leadership.

Anyone can make a contribution to the Alpha Kappa Psi Foundation and restrict the gift to benefit an established Chapter Designated Fund. In most cases, the chapters themselves fund the endowments with some help from alumni. Alumni receive an important benefit when making a gift to a Chapter Designated Fund: they are eligible to receive a valuable IRS tax deduction (whereas gifts made directly to a chapter are not eligible for a tax deduction).

Once a Chapter Designated Fund reaches or exceeds a balance of $10,000, it is considered officially endowed. At that point, interest income (budgeted at 5%) will be returned to the chapter the following academic year and every year thereafter. The amount of a fund will be 5% of the endowment’s balance at the beginning of the academic year. It is assumed the the market will grow at 5% or greater—if the market peforms better than 5%, the extra amount of interest income created will stay in the fund and add to the principal. If the market performs less than 5%, awarding the fund could cause a depletion of the principal. However, over the long run, the 5% amount will not only protect the principal, but also allow for growth as the markets fluctuate from year to year.

Endowed

American University – Lambda Nu

Arizona State University – Iota Xi

Ball State University – Upsilon Chi

Chapman University – Rho Chi

Christopher Newport University – Iota Pi

Florida International University – Xi Sigma

Georgia Institute of Technology – Epsilon Sigma

Indiana University – Beta Gamma

Michigan State University – Gamma Mu

Middle Tennessee State University – Zeta Psi

Pennsylvania State University – Gamma Epsilon

San Diego State University – Mu Sigma

San Jose State University – Omega Phi

Seattle University – Gamma Omega

University of Alabama – Alpha Rho

University of Central Florida – Nu Chi

University of Cincinnati – Eta

University of Florida – Alpha Phi

University of Georgia – Alpha Epsilon

University of Kentucky – Omicron Psi

University of Missouri – Upsilon

University of Nebraska, Lincoln – Zeta

University of Pittsburgh – Delta

University of Pittsburgh at Johnstown – Nu Phi

University of Tennessee, Knoxville – Zeta Lambda

University of Texas at San Antonio – Xi Omicron

University of Toledo – Gamma Eta

University of Washington – Rho

University of Wisconsin, Madison – Alpha Mu

Western Michigan University – Gamma Tau

 

Working toward Endowment

Auburn University -Mu Omega

Baruch College – Psi Nu

Binghamton University – Omega Zeta

Boise State University – Theta Omicron

Canisius College – Delta Tau

Central Washington University – Kappa Xi

Creighton University – Delta Pi

Drake University – Beta Phi

George Washington University – Beta Mu

Henderson State University – Iota Chi

Jacksonville State University – Psi Chi

Louisiana State University – Beta Chi

Louisiana Tech University – Eta Tau

Loyola University New Orleans – Sigma Psi

Nova Southeastern University – Omega Rho

Oregon State University – Theta

St. John’s University – Beta Sigma

Tulane University – Pi Chi

University of Alabama, Birmingham – Omega Tau

University of Connecticut – Psi Rho

University of Dayton – Delta Nu

University of Illinois, Chicago – Eta Rho

University of Iowa – Alpha Xi

University of Mississippi – Rho Tau

University of Oregon -Kappa

University of Pennsylvania – Epsilon Rho

University of Portland – Gamma Kappa

University of Richmond – Delta Zeta

University of Texas at Dallas – Mu Rho

University of Wisconsin, Milwaukee – Delta Phi

University of Wyoming – Beta Nu

West Virginia University – Beta Rho

 

Don’t see your chapter on the list? Contact foundation@akpsi.org to learn more about starting a chapter designated fund.