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HISTORY
Bequests from wills resulted in establishment of the R. C. Roberson, P
1939 Fund in 1986 and the W. F. Davey, P 1933 Fund in 1988, the latter
largely through the efforts of "Wa" Babcock, P 1933, an early beneficiary of
the Alumni Association assistance program predating the Foundation.
Also during 1988, partly as a result in changes in the income tax law,
several contributions of appreciated stock were made, resulting, after their
sale, in over a 35% increase in Principal Funds. At the end of the 1988-1989
fiscal year (August 31, 1989) the total amount contributed over the years
stood at $118,235. With these funds invested, increased income permitted
adding two categories of Scholarship Awards, one to recognize the five most
improved scholars, the other to reward the Alpha for improvement in its GPA
as a whole. Incentive Award eligibility was also revised to benefit brothers
living outside the Lodge who were unable, due to space limitations or other
valid reasons, to live there, providing their activity in Fraternity affairs
was exemplary.
After receipt of a $5,400 gift earmarked for the purpose, the Foundation
added funds to complete a $10,000 payment to the Chi Psi Educational Trust
to perpetually endow delivery to active Rho Brothers both the Alpha
Management Retreat (to train active officer candidates) and the Program for
Self Development (to promote individual growth). In recognition and
appreciation for the first such funding by an Alpha Foundation, an award was
presented during the 148th Convention at New Brunswick to T. Girard Wharton,
P 1925, President of the Foundation since 1952.
By 1989, the Foundation had provided 166 Grants in Aid totaling $46,611
and 425 Awards totaling $39,200, which, added to the grant for AMR/PSD,
totals $95,411 given for the benefit of the brotherhood.
Approximately one of every three Brothers had received a monetary benefit
of some kind by 1993 and the Foundation had provided over 450 awards
totaling over $47,000 and more than 180 Grants-in-Aid totaling over $57,000.
In addition, it had financially supported Academic Forums and had
contributed $10,000 to the Chi Psi Educational Trust to assure that an Alpha
Management Retreat and the National Leadership Training Program would take
place at Alpha Rho every year as long as the Trust offers these programs.
More than half of these benefits had been provided since January, 1984,
during the last one fifth of the Foundation's existence.
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