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HISTORY
In 1995 and in the spirit of “succor and assistance”, the Foundation
shared with the Alumni Association a sizable contribution from a Brother who
spent less than two years at Rho, then transferred and graduated from
another college and another Alpha. He had been financially assisted by Rho
before the Foundation was established, had never forgotten the help he
received and wished to acknowledge the favor after these many years. Another
more recent Brother "repaid" in full the amount of a Grant he had received
as an undergraduate.
The Trustees doubled the Foundation's underwriting of the Resident
Educational Advisor position in 1996. The Foundation revised its Awards
Program to emphasize Scholarship Achievement, recognizing real merit by
increasing the grade point averages required for awards and eliminating some
of the programs it felt were not very effective in stimulating educational
improvement. The Wharton Scholastic Excellence, Drake and Slifer Awards
would remain available, with better than half the Foundation’s income
budgeted for the Awards and Grant-in-Aid programs. Disappointingly, a
request to the Chi Psi Educational Trust to accommodate our unique Charter
requirements by adding a separate internal PSD account so that our late
1980s $10,000 endowment would support both PSD and AMR (as originally
intended, rather than AMR alone as at present) was not granted.
In 1997, Herb Young, P 1929, after nearly a third of a century of service
to the Foundation, decided not to accept another term as Trustee and
Chairman of the Board. Herb, a Brother of enthusiastic conviction to the
Foundation objective to assist other Brothers, thoroughly demonstrated his
zeal by establishing the Foundation's first endowment fund and by regularly
contributing both ideas and dollars throughout his tenure. Jack
Schwanhausser, P 1946, assumed the role of Chairman of the Board, vacated
with the departure of Brother Young from the Foundation board. Also in 1997,
the Foundation’s Principal Funds gained nearly forty thousand dollars,
mostly via a gift of stock from Hank Bartels, P 1945, in connection with the
"Bones Lundberg Lodge Renovation" program.
In 2004, the Chi Psi National Fraternity voted to restore Alpha Rho to
colony status after several years of dormancy. In 2005, the Foundation was
able to provide $5,150 in scholarship monies to 16 of the newest Brothers
given their academic accomplishments. By the end of August 2005, the
Foundation had a net worth of almost $504,000.
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