Chapter Designated Funds
The AKPsi Foundation collects tax-deductible contributions and puts them in chapter specific endowments. Interest income from these endowments is annually returned to each chapter in the form of a Chapter Designated Fund.
Chapter Designated Fund FAQ
What chapters can start Chapter Designated Fund endowments?
Any chapter can create an endowment. Three things need to happen for a chapter to start a fund:
- The chapter must approve it
- A fund agreement is signed by the chapter president and the Alpha Kappa Psi Foundation
- A “kick-off” contribution of $250 or more is received by the foundation from the chapter or an individual
What can chapters spend funds on?
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.
Who makes contributions to endowments?
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).
When can a chapter award money, and how much will it be?
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.
Does my chapter have a fund?
American University – Lambda Nu
Arizona State University – Iota Xi
Ball State University – Upsilon 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
Binghamton University – Omega Zeta
Boise State University – Theta Omicron
Central Washington University – Kappa Xi
Creighton University – Delta Pi
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
University of Alabama, Birmingham – Omega Tau
University of Connecticut – Psi Rho
University of Dayton – Delta Nu
University of Illinois, Chicago – Eta Rho
University of Mississippi – Rho Tau
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 email@example.com to learn more about starting a chapter designated fund.