Alumni / Foundations
Three Corporations Make Up The National Fraternity
The National Officers – elected and appointed – are the managing board between meetings annually of the National Council. The National Council is composed of all active and alumni chapters plus the National Officers. The National Council is the supreme legislative body to amend the constitution as needed, and prescribe new policies and principles to the entire Fraternity. The votes of the National Council are constructed so that a majority of power rests with the Active Chapters.
The Educational Foundation is a 50l-(C)-(3) Corporation under IRS guidelines. This means in a practical way that all contributions to the Foundation is tax deductible. The organization currently has over $1,000,000.00 in assets, and provides academic scholarships and awards. In addition it funds many of the National Fraternity’s educational programming. Several Chapters, including Zeta Chapter, use the Foundation as its repository for funds available for Chapter Scholarships. What this means is that the earnings of the principle are annually available for scholarships. In today’s world of ever increasing tuition, housing, and food costs, many young men could not survive without scholarship aid.
The Beta Sigma Psi Foundation (AKA -Housing Foundation) was incorporated to help lend money and provide guidance to Alumni and Active Chapters of the Fraternity. The present makeup of the Foundation’s Board of Directors includes five past National Presidents, an architect and several contractors. With limited assets of just over $400,000.00 we currently are not able to loan money to build a new chapter house, but its experienced board members are available to help Alumni Chapters make determinations of when and how to establish a capital Fund raising program. They also assist in creating model contracts for undergrads and provide guidance on acquiring necessary insurance coverages.