Restricted Funds Program

The Educational Foundation supports the establishment of Chapter Restricted Endowments. The Foundation currently manages endowed Chapter funds for the following Chapters:

  • Drexel University
  • University of Florida
  • Florida State University
  • University of Virginia

 

Criteria & Key Information

  • A minimum balance of $10,000 is required to be a restricted and endowed fund.
  • Each fund is recorded separately on the Foundation’s General Ledger.
  • Funds are invested to leverage the fund’s financial growth opportunity.
  • Alumni can designate their donations in part or completely to their Chapter’s fund.

 

Chapter Engagement and Control

  • Withdrawals must be authorized by the Foundation’s President and the Chapter fund’s designated representative(s).
  • Withdrawals are made by the fund representative(s) designated by the Chapter. Requests are reviewed for compliance with IRS regulations.

 

Establishing an Endowed Fund

To begin the process, contact foundation@pilambdaphi.org