Establish an Endowed Award
Naming an Endowed Fund with The Foundation:
Significant permanent funding for Foundation programs such as awards, events and other mission aligned programs can come from endowment gifts. Named Funds not only ensure the longevity of the programs of the Foundation but also permanently honor a brother, group and chapters. A single donor or pool of donors may come together and build the fund over a period of time (three to five years) with pledges and outright donations.
Living within the endowment, the gift is invested, and only the interest income is used to support the program or award. The principal is never spent so the fund and the resulting scholarships remain in perpetuity. The donor may name the endowment and fund it with an outright gift of cash, appreciated securities, or through a bequest in the donor’s will.
Types of Named Funds include:
•Engagement Stipends: $25,000 minimum corpus providing $1,000 towards stipends for brothers to defer costs associated with participating in the programs of the Foundation and Fraternity. These are offered on a rolling basis in accordance with the policies of the Foundation and non-profit spending rules.
•Undergraduate and Graduate Scholarships: $50,000 minimum corpus providing $2,000-$2,500 annually. Candidates are reviewed annually by a selection committee in May.
•Social Impact Fellowships: $75,000 minimum corpus provides leadership development stipend to a fellow along with supporting the program activities throughout the year.
Donors may elect for the fund to show preference towards specific types of candidates (chapter, industry, demographic) and the selection committee will work to match qualified candidates as is applicable. To meet our mission and hold true to our values, the Foundation will utilize the funds available to the program even when a matching candidate is not available.
Recognition for Donors to Named Funds:
Each year, the Foundation publishes various communications in print and digitally to celebrate donors and the recipients of awards. Additionally, all donors will be listed on the Psi Upsilon website under each fund. Special communication about each awardee will be sent to all donors annually. Individually underwritten named funds may also join the selection committee as appropriate and as willing.
The Psi Upsilon Foundation is a 501(c)(3) charitable organization. Contributions are tax deductible to the extent allowed by law. Signed pledges may be fulfilled over a period of 3 years. Refer to the Ways of Giving document for details about the various methods to make a gift to the Foundation.
For more information, please contact Alex Senchak, President and Chair of the Foundation at ASenchak@psiu.org or 973.464.5654.