Vision and Goals

The Mu Iota Chapter of Phi Gamma Delta
Perpetual Endowment Scholarship Program

The Graduate Brothers of the Mu Iota Chapter of Phi Gamma Delta have established an endowment to fund scholarships in perpetuity at our alma mater. The University of Idaho Foundation currently manages the endowment which distributes earnings to support annual scholarships for Phi Gamma Delta fraternity members. The Mu Iota Chapter of Phi Gamma Delta, the Board of Chapter Advisors (BCA) and AKE House Corporation define the scholarship criteria and selection process for the scholarship endowment which is exclusively for the benefit of Mu Iota undergraduates at the University of Idaho.

Vision

As we approach the 100 year anniversary of the installation of the Mu Iota Chapter of Phi Gamma Delta, the Board of Chapter Advisors (BCA) in collaboration with the AKE House Corporation has set a vision to build the perpetual scholarship endowment for future generations of young men who are selected to become members of the Phi Gamma Delta.

Goals

The goal of the endowment is to distribute scholarships which will attract and retain young men who share the core values of Phi Gamma Delta.

The intent of this scholarship program is to reward the behaviors we want to see in these young men: the behaviors of academic excellence, fiscal responsibility, and engagement with the fraternity. It is also our intent to provide an avenue for Graduate Brothers support of the chapter, to demonstrate the value of philanthropy and to illustrate that Phi Gamma Delta “is not for college days alone."

Distribution

Endowment gifts are held in perpetuity with the University of Idaho Foundation and annual distributions from investment earnings provide perpetual scholarships.

Scholarships shall be awarded on the basis of academic excellence, fiscal responsibility, and financial need. AKE and the BCA, with the support of the Chapter Scholarship committee, shall select eligible and deserving student-recipients.

Quick Facts

Contributions are 100 % tax deductible
The Mu Iota Chapter of Phi Gamma Delta Endowment is part of the University of Idaho Foundation’s Consolidated Investment Trust (CIT), a pooled endowment fund
Gifts to the Mu Iota Endowment qualify as part of your annual gift to the University of Idaho
Scholarship awards exclusively for the Mu Iota undergraduates are determined by AKE/BCA.
Investments and Accounting are managed by the University of Idaho Foundation
Phi Gamma Delta Headquarters has no involvement in the management of the endowment funds or distribution of scholarships
The University of Idaho Foundation Board of Directors sets the spending (distribution) rate, currently at 4.4%
The Foundation’s 10 year annualized total rate of return is 8.4%
In the event that Mu Iota ceases to exist at the University of Idaho, the BCA/AKE and the University of Idaho Foundation will determine another purpose which is in keeping with the original spirit and intent of the endowment

Questions