|Establish a Scholarship|
A general endowed scholarship may be established with a fund of not less than $30,000 or a guarantee of annual support for one or more recipients totaling at least $2,500 per recipient. If a donor wishes to establish a named scholarship fund but is unable to make the minimum $30,000 required donation in a single year, the Foundation will allow four years for the completion of the donation. A minimum donation of $5,000 must establish the fund for it to be eligible for the four-year waiting period. Once fully funded, the annual award amount is to be at least 3% of the fund and will not exceed 8%. The Board of Directors will decide the amount of the annual award amount. Named scholarship funds are not administered separately, but as part of the general endowment investment.
The donor of the scholarship fund shall be considered a member of the Clara Bradley Burdette Society of Alpha Phi Foundation; the Society recognizes donors who have provided for the Foundation in their estate planning, and the Board of Directors believes that setting up scholarship funds entitles donors to membership in the Society.