Alpha Rho Memorial Foundation

History of the Foundation - Alpha Refounding to Today

Article Index
History of the Foundation
The Early Years to 1978
100th Anniversary of Alpha Rho
The 1990's
Alpha Refounding to Today
All Pages

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.

In 2006, the Foundation was especially pleased to award $12,790 in scholarships and awards. The Foundation also received a very generous gift in 2006. As set forth in his will, Brother T. Girard Wharton's estate contributed a remainder estate worth $58, 292 to the Foundation. The contribution was recorded to the T. G. Wharton P 1925 Fund.

Also in 2006, the Foundation acted on Brother Ray Katz's vision to streamline the investment operations of the Foundation with an investment advisor. In late November 2006, the Foundation's Investment Committee voted to reallocate the Foundation's portfolio from one existing investment account with limited diversification into three accounts; two separate investment accounts (Fixed Income & Growth) with broader diversification and specific objectives and one operating account (Checking). Because the Foundation's assets were primarily in individual bonds, stocks or specific sector or indexed mutual funds (primarily large capitalization entities), the Investment Committee, on the advice of the Foundation's investment advisor, agreed it was prudent to better diversify the Foundation's portfolio with the twin goals of increasing return on a portion of the portfolio and establishing a fixed income account to meet the Foundation's annual expenses.

In sum, three accounts replaced the former investment account: (1) a fixed income account, aptly named 'Fixed Income" and invested in fixed income assets that are expected to provide about $18,000 in annual income for the Foundation's programs and expenses; (2) an investment account invested in growth assets and focused on growing the Foundation's corpus for the road ahead named "Compass" and (3) a checking account for paying awards and expenses named "Checking."

The Foundation was delighted to learn that the Alpha had won the Thayer Trophy at the 2007 Chi Psi National Convention. The Trustees were especially pleased about the almost $11,000 in scholarship awards and academic programs funded by the Foundation for our undergraduate Brothers in the same year.

The Foundation ended the 2007 fiscal year with a record net worth of approximately $605,000. With the revised strategy paying handsome returns, the Alpha Rho Memorial Foundation continues to be well endowed to carry on its core mission of providing educational programs, scholarships and awards to Brothers of Alpha Rho of Chi Psi Fraternity.


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