July 25, 2017

TEΦ Foundation

THE TEP FOUNDATION INC.
(Formerly, The Tau Epsilon Phi Scholarship & Student Aid Fund)
In May 1953, the Grand Council of Tau Epsilon Phi recognized the need
for an organization whose prime purpose would be to aid students through
college. A resolution was passed and the necessary funds allocated to establish a
Scholarship Fund that would be a separate corporation. Acting upon this
resolution, the Atlanta Alumni Club organized a corporation, which was known as
The Tau Epsilon Phi Scholarship and Student Aid Fund, Inc., whose prime purpose
would be to aid needy colege students regardless of race, color, creed, or
membership in the fraternity in completing their educations.
In 1964, the TEP Scholarship and Student Aid Fund, Inc., added a new
dimension to its program of scholarship assistance when Past Consul Louis L
Manes made a substantial contribution to the Fund (the largest one at that time).
In Brother Manes’ honor a scholarship was established, thus becoming the first of
almost 30 grants that now are offered to the undergraduate membership, made
possible by the generosity of alumni, families, and friends of the fraternity.
In 1982, in response to the complaints that the name of the scholarship
arm of the fraternity was too long and cumbersome, the trustees renamed the
organization, “The TEP Foundation, Inc.,” as it is known today.
The TEP Foundation, Inc., as it is presently known, is a tax-deductible
organization, governed by a thirty member Board of Trustees. The trustees are
selected at the annual meetings of the corporation and are elected for three-year
terms that overlap such that each year, the terms of 10 Trustees expire and are
replaced by other alumni, duly elected. The Trustees meet on call of the President
to consider applications for assistance and/or fund raising. Each member of the
fraternity, undergraduate or alumnus is a member of the corporate body and may
vote at the annual meeting of the corporation.

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