Everett & Marie Leedom
Career Preparation Track Leadership Fund
Established: June 6, 2016
Official Name: Everett & Marie Leedom Career Preparation Track Leadership Fund
Permanently Restricted Endowment Corpus: $15,000.00 (7/1/17)
Spendable Balance: $703.21 (7/1/17)
Statements: 2017 Annual Statement
History of Endowment
This endowment was created to provide scholarships for undergraduates to attend the Career Preparation Track at summer leadership programs.
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 national 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. Preferential consideration will be given to qualified undergraduate members in good standing from the Gamma Zeta Chapter. Selection of recipients will be determined by the Fraternity Headquarters staff or a Scholarship Committee appointed by the Fraternity President & CEO.