John and Ann Chaney Scholarship Fund
Established: October 2014
Official Name: John and Ann Chaney Scholarship Fund
Permanently Restricted Endowment Corpus: $0.00 (7/1/17)
Spendable Balance: $0.00 (7/1/17)
History of Endowment
This endowment was created to honor the incredible contributions made by John Chaney, Indiana ’67 to the Gamma Chi Chapter, Alpha Sigma Phi Fraternity and Alpha Sigma Phi Foundation spanning six decades. John’s service includes being a Founding Father of the Gamma Chi chapter (roster number 5), the first Executive Vice President of Alpha Sigma Phi Fraternity while simultaneously serving as President of the Alpha Sigma Phi Foundation and a loyal volunteer. As a volunteer, John was involved nationally as a Grand Province Chief, facilitator for the Burns Leadership Institute, Academy of Leadership and Elevate: National Leadership Conference; with the Gamma Chi Chapter, serving as the Grand Chapter Advisor and on the Housing Corporation; with the Beta Zeta Chapter, serving on both the Chapter Council and the Housing Corporation; and with the interest group at the University of North Carolina where he served as the group’s first Chapter Advisor.
As our Fraternity’s Executive Vice President, John was instrumental in re-engaging the legendary Ralph Burns with Fraternity activities and ensured that Ralph’s wife Ann was financially taken care of after Ralph’s passing into the Omega Chapter. John vastly expanded volunteer engagement within the organization and significantly increased staff support of our undergraduate chapters. In his dual role with the Fraternity and Foundation, John improved synergy between the two boards and had both the Grand Council and Foundation Board working together to advance Alpha Sigma Phi. John’s leadership with the Annual Fund appeal produced results that went unmatched for decades.
For John’s outstanding service, he was recognized with the Delta Beta Xi award in 2006 which is given to a maximum of ten alumni per year. John’s service would not have been possible were it not for the tremendous support of his wife Ann who is a true partner to John.
The legacy of John and Ann has been carried on in their two children, Zola and John Howard, and their three grandchildren. John is also a member of Alpha Sigma Phi, initiated at the Alpha Pi Chapter at Purdue University where he served as a record-setting Recruitment Director.
The Alpha Sigma Phi Foundation reviews each chapter endowment fund annually and makes available a percentage of the fair market value of the Chapter 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.
One of John’s passions in the Fraternity is recruitment and he often said, “If you ain’t growing, you are dying”. John wanted to create an endowment to recognize and incentivize Recruitment Directors for recruiting a high quantity of high quality men and by the Recruitment Director doing just that, the chapter roster will grow as new members will matriculate to initiation. This endowment will provide scholarships for the highest performing Recruitment Directors annually. To qualify, the Recruitment Director would have to meet or exceed established benchmarks and goals (revolving around men recruited, men initiated, chapter size, etc.) and/or think creatively and “outside the box” when it comes to growing the chapter in non-traditional ways which in turn would establish a new best practice for Alpha Sig chapters across the country.