Magazine article Phi Kappa Phi Forum

Funding Foundation Programs

Magazine article Phi Kappa Phi Forum

Funding Foundation Programs

Article excerpt

The Phi Kappa Phi Foundation endowment fund was established in 1972 to help finance the numerous awards, fellowships, and grants that the Society gives its members. Annual contributions to the Foundation account are added to the fund's principal, and only the income generated is used to offer an average of nearly $500,000 annually in member awards. The programs and amounts awarded are reviewed each triennium by a Board-appointed committee. For the current triennium, the Foundation supports six different programs: Fellowship, Promotion of Excellence Grants, Study Abroad Grants, National Artist Award, National Scholar Award, and Literacy Grants. Each triennium, approximately five hundred Phi Kappa Phi members receive these grants and awards.

The generosity of Phi Kappa Phi members sustains funding for these programs at their current levels. Twice a year, Phi Kappa Phi members are given the opportunity to contribute to the Foundation fund: at renewal time and during the annual mail appeal. Unlike membership dues, donations to the Foundation are fully tax deductible. A thank-you letter stating the amount of the gift is sent to every donor.

Life members also are sent a statement once a year to give these members the chance to donate to the Foundation or to the Chapter Scholarship Fund. …

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