Alpha Rho Chapter Endowment Fund
The Alpha Rho Chapter Endowment Fund (chartered 27 October 2007) is the official endowment fund of Alpha Rho Chapter. It was established in 2007 by a group of Alpha Rho alumni, led by Mike & Carrie Owen. Soon after the events of April 16, 2007, the Owens shared their vision to establish an endowed scholarship in remembrance of the victims, and out of that desire grew the vision for the endowment fund. After months of research, planning and organization by the Owens, Herb Higginbotham, Tim Howland, and the 2007-08 Alpha Rho Alumni Advisory Board, the Alpha Rho Chapter Endowment Fund was officially chartered in late October 2007, becoming the first Chapter level endowment established with the Phi Sigma Pi Foundation.
About the Fund
The Alpha Rho Chapter Endowment Fund is managed by the Phi Sigma Pi Foundation. The usage of the endowment is closely monitored and managed by a Board of Trustees composed of Alpha Rho Alumni who span a broad range of the Chapter's history.
At the time the Endowment Fund was chartered, the Board of Trustees created an initial Fund Goal of $100,000 within 10 years. As of March 4, 2008 the Endowment contained approximately $13,000.
Vision of the Fund
The intent of the Alpha Rho Chapter Endowment is to fund scholarships and eventually other programming for Alpha Rho Chapter. The initial usage of the funds will be as follows:
4/16/07 Memorial Scholarship - An annual scholarship in memory of the 32 victims of April 16th will be awarded each spring to an Alpha Rho Brother who exemplifies the spirit of the University's motto Ut Prosim - That I May Serve. The initial scholarship will be awarded in Spring 2008 in the amount of $1,416.32, with the amount serving as a tribute to the date and victims of the tragedy.
Erin N. Peterson New Brother Grant - This grant program is in honor of Erin Peterson, who was among the victims of April 16th. Erin was tragically killed after completing all membership requirements, just days before her scheduled induction. In recognition that each and every new brother is cherished, this grant program will fund national dues for each Alpha Rho Brother in his/her first semester as a Brother. (Projected Start Date, pending sufficient funds: Fall 2008)
As the fund grows in size, additional uses for the fund will be determined at the discretion of the Board of Trustees, in communication with Alpha Rho Chapter.
