Beta Brotherhood

Page 118


The Founders Fund “Also at the convention of 1919, the Founders Fund was established [an immediate outgrowth of the Baird Fund]. This was to be a general endowment fund accumulating legacies, gifts or donations. Its principal was to remain intact, and the interest could be used as directed by the Board. The discussion of possible uses of such a fund included some interesting ideas: …to help chapters in their house construction, to provide fellowships and scholarships as prizes to be contended for, to establish instructors or big brothers in chapter homes, to help members needing loans in order to continue their college work, to help those to enjoy Fraternity life who might be barred otherwise because of poverty, to enable the Fraternity to carry on more frequent and more helpful inspection, to make it possible to reduce the annual dues and other charges.”

Although the Founders Fund was created… with the object of furthering scholarship, the principal was not sufficient until 1949; most of it had been on loan for the construction of chapter houses. In 1949, the Founders Fund stood at just over $140,000, and 18 scholarships were awarded, totaling $5,250. By 1988, the Founders Fund had grown to over $1.1 million, and 44 scholarships totaling $44,000 were awarded.” — The Faithful Home of the Three Stars, pgs. 212-213; 283

In 1990 the Beta Theta Pi Foundation was established as a 501(c)3 charitable foundation and assumed management and oversight responsibility for all Founders Fund assets. By the 175th anniversary in 2014, the Beta Foundation had grown to $18.2 million in unrestricted and restricted funds (sans the Foundation and Administrative Office) geared toward the Fraternity’s scholarship and educational activities, including primary sponsor of the award-winning Men of Principle initiative.

Beta Brotherhood | page 104

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