Chapter Endowment Initiative FAQs

1. Which chapters can I endow?
2. What is the amount needed to endow a chapter?
3. What is the minimum gift acceptable for this initiative?
4. Why is the minimum gift $5,000?
5. How will the money be spent?
6. Can pledges be accepted? Over how many years? Can I back-end load or front-end load a pledge?
7. Are naming opportunities available?
8. What if a chapter receives more than $100,000?
9. What if we raise no funds or only a small amount for a chapter? Is the chapter's status in danger?
10. Who manages Tau Beta Pi's endowment?
11. Is my gift tax-deductible?
12. Okay, I'm interested. How do I make a gift?
13. Will my name and gift be published in The Bent and be included on the website?
14. Can I make this gift and remain anonymous?
15. Will a gift to this initiative be reflected in my total giving to TBP?
16. Whom should I contact to make a gift or learn more?

1. Which chapters can I endow?
   Any of our 250 chapters can be endowed. You can support your initiating chapter or another one. In some cases, alumni have voiced a preference for making a gift but allowing their gift for this effort to support "any" chapter. We have decided to establish a designation specifically for this purpose. (Back to Top)
   
   
2. What is the amount needed to endow a chapter?
   $100,000 is the minimum amount needed. (Back to Top)
   
   
3. What is the minimum gift acceptable for this initiative?
   The minimum gift for this initiative is $5,000 payable in one lump sum. (Back to Top)
   
   
4. Why is the minimum gift $5,000?
   Gifts toward endowments are often a bit larger than gifts for an annual fund. If we begin to accept gifts toward this initiative in lower amounts, we would incur additional overhead in maintaining the accounting for the endowment. Gifts of less than $5,000 still support our chapters, but through our annual Alumni Giving Program. (Back to Top)
   
   
5. How will the money be spent?
   The $100,000 for a chapter will be put into TBP's endowment. Our current annual payout is 5 percent of the 48-month rolling average of the value of the endowment. It is our hope that within a few years, the fund will pay out approximately $5,000 a year. As detailed in Curt's editorial (pages 4-5), this will provide permanent funding for students of the endowed chapter to attend the annual TBP Convention, receive officer leadership training through the District Program, obtain professional development through Engineering Futures, participate and facilitate K-12 MindSET activities, support Headquarters operations, and conduct chapter-directed activities on the college campus and in the local community. (Back to Top)
   
   
6. Can pledges be accepted? Over how many years? Can I back-end load or front-end load a pledge?
   Yes, pledges are being accepted; the minimum gift/pledge is $5,000. Larger gifts may be accepted over a period of 3-5 years. We will work with you to determine how a pledge may be set up to best suit your situation. For example, a gift of $25,000 could be made over five years at $5,000/year. We can also "back-end" or "front-load" pledges. (Back to Top)
   
   
7. Are naming opportunities available?
   Yes, there are two distinct ways to create naming opportunities:
   1. An individual, company, or foundation will be recognized with a minimum gift of $100,000.
   2. A trusted advisor, former professor, or friend, etc., can be recognized, honored, or memorialized if a group of individuals pool their funding to reach a total of $100,000 within a one-year timeframe.
   (Back to Top)
   
   
8. What if a chapter receives more than $100,000?
   That is something we would like to happen! Our goal is to endow each chapter with a minimum of $100,000. (Back to Top)
   
   
9. What if we raise no funds or only a small amount for a chapter? Is the chapter's status in danger?
   No, the chapter's status is not in danger. For now, we have enough funding to cover all the chapters. What we are concerned about is making sure that we continue to have enough funds to support them all. (Back to Top)
   
   
10. Who manages Tau Beta Pi's endowment?
    The Trust Advisory Committee (TAC), created by the 1964 Convention, is charged with instructing Tau Beta Pi's corporate trustee on the purchase and sale of assets. Members include: Brent S. Beardsley, TX D '93, W. Johnson, Jr., NC A '77, Harry W. Lange, MI Z '75, Yung B. Lim, NJ D '87, and David A. Liu, PA D '93. (Back to Top)
    
    
11. Is my gift tax-deductible?
    As a non-profit organization, Tau Beta Pi is exempt from federal income taxes under Section 501(c)(3) of the Internal Revenue Code. Therefore, your gift is tax-deductible to the full extent provided by the law. (Back to Top)
    
    
12. Okay, I'm interested. How do I make a gift?
    We would be happy to speak with you about your specific situation. There are a number of ways to support this initiative. Checks can be made out to "Tau Beta Pi—The Engineering Honor Society" and sent to Tau Beta Pi, Attention: Curtis Gomulinski, , P.O. Box 2697, Knoxville, TN 37901-2697. In the memo line of the check, please write the name of the chapter or the name of the college/university so we know where to credit your gift. Or, if your gift is for "any" chapter, then please indicate this as well. Other options include gifts of highly appreciated stock held for over one year as well as including Tau Beta Pi in your estate plans. (Back to Top)
    
    
13. Will my name and gift be published in The Bent and be included on the website?
    Yes, we intend to provide an update at least once each year in The Bent listing the name of the donor, chapter supported or "any" chapter as the case may be, and the amount of the gift. (Back to Top)
    
    
14. Can I make this gift and remain anonymous?
    Yes, you can retain your confidentiality within this initiative; just let us know. (Back to Top)
    
    
15. Will a gift to this initiative be reflected in my total giving to TBP?
    Yes. (Back to Top)
    
    
16. Whom should I contact to make a gift or learn more?
    Please direct all inquiries about this program to Sherry Jennings-King, Director of Development, by phone at (612) 226-2922 or by email to . (Back to Top)