Robert W. Kutz Scholarship Fund
Established: September 6, 2016
Official Name: Robert W. Kutz Scholarship Fund
Permanently Restricted Endowment Corpus: $20,800.00 (7/1/17)
Spendable Balance: $980.34 (7/1/17)
Statements: 2017 Annual Statement
History of Endowment
Victor B. Scott, Theta '39, was a founder of Phi Pi Phi and after the merger with Alpha Sigma Phi, an award was renamed in his honor for outstanding chapter scholarship. To our knowledge, it was only awarded in 1940 to the Phi Chapter at Iowa State University. This endowment was created to award annually chapters in good standing meeting certain academic criteria and present them with the Victor Scott Trophy.
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 to present the Victor Scott Trophy award and educational prize to the chapter or provisional chapter in good standing with the highest GPA in comparison to the campus all men's GPA (or if the all men's GPA is not published, the all Interfraternity Council (IFC) GPA).