Many alumni are unaware that the Sigma Chi Foundation has a restricted fund in place for many undergraduate chapters. In fact, thousands of dollars in scholarships and grants from these funds are given to benefit young Sigs each year. This document is an overview of the common uses and related procedures for these funds.
Money from chapter designated funds may only be used for educational purposes. Examples include the chapter’s participation in the leadership programs, scholarships, scholarship recognition banquets, chapter house computers, internet wiring, expenses to and from the Balfour Leadership Training Workshop, alcohol education seminars or speakers. If the chapter elects, the funds can be used to support its participation in Sigma Chi’s key leadership and mentoring programs: Balfour Leadership Training Workshop, Horizons, Journey, and Crossroads, through the Bell Chapter Challenge. Through the Educational Housing Program, chapters may also use these funds to renovate educational portions of the chapter house. We are proud that hundreds of thousands of dollars in scholarships and grants are given each year by local house corporations to deserving young Sigs.
To establish a Chapter Designated Fund, please contact Ashley Woods at firstname.lastname@example.org or 847-869-3655 ext. 209.
To draw money from the fund, the Chapter Designated Fund Request form must be completed, click here to download a copy of this form. Each request must be signed by two of the following chapter officers: Consul, Chapter Advisor, House Corporation President or House Corporation Treasurer. Be certain to include any invoices or receipts for reimbursement. Excluding requests for scholarships or house renovation projects, this process usually takes between five to seven business days.
To comply with revised Internal Revenue Service guidelines, we now require additional steps for disbursing scholarship and chapter house renovation funds.
If the request is for a scholarship check, provide the recipient name, and amount of the check. Please also include a brief statement of why the chapter selected the recipient for the scholarship award. Along with the check, we will send an award verification form (click here to download a copy of this form) which will need to be completed by the award recipient and returned to Heidi Holley via e-mail (email@example.com) or fax (847-869-4906). The verification form confirms that he will use the award for educational purposes and that he is enrolled at the university. Additionally, we disburse scholarship checks in the name of the recipient and his university. This process usually takes five to seven business days.
If the request is for a chapter house renovation project, please contact the Foundation about the new Educational Housing Program. The program helps chapters maximize educational space and therefore increase the ability to raise tax-deductible contributions to support a renovation project. The program is the Foundation’s exclusive means of funding chapter house renovation projects.