Frequently Asked Questions

Why Give to the Foundation?

Your tax-deductible gift to the Foundation is one way to help minimize the spiraling costs of post-secondary education. It is also an opportunity to give back to the Chapter that gave you so much as an undergraduate. Your generous support will go to ease the cost burden of today’s student.

Gifts from you, the alumni, make up the majority of the Foundation’s income each year. For instance, in an average year, only about 5-10% of the growth of the fund currently comes from capital gains, dividends, and interest. It is gifts from donors at the 25th Anniversary that provided a stable foundation upon which we are building. However, we have a long road ahead in order to achieve the amount and frequency of scholarships and grants that we envision the Foundation providing. Your gift takes us one step closer. Please give as generously as you can.

How Is My Gift Invested?

The investment policy of the Foundation is to produce a reasonable annual income, coupled with capital appreciation, while conservatively maintaining safety. The Trustees are committed to maintaining the integrity of the Foundation. As such, Foundation policy and bylaws dictate that the corpus will never be invaded; only the income and capital gains generated will be used for scholarships.

It is also the policy of the Foundation to honor a request by a donor that his or her contribution be used for a specified award whenever such a request is consistent with the educational purposes of the Foundation and with its exempt status under applicable federal income tax laws and regulations.

Is My Gift Tax-deductible?

Yes. Ohio Lambda Foundation is a 501(c)(3), not-for-profit, public educational charity incorporated under the laws of Ohio. As such, it is the only charitable arm of Ohio Lambda Chapter of Phi Kappa Psi entitling its donors to a full tax deduction within the limits set by the Internal Revenue Code.

Will I Receive Recognition?

Unless you instruct us otherwise, all contributors to the Foundation are recognized on this Web site as well as in the Fall electronic newsletter.

What is the "Oxford Society"?

The Oxford Society was established to recognize and honor alumni of Ohio Lambda Chapter who have made provisions for future generations of undergraduates through bequests, life insurance, trusts, or other planned gifts.

Can My Gift Be Matched?

A resounding YES! As a qualified 501(c)(3) organization, we may be eligible for matching funds from your employer that may double or even triple your contribution. You get credit for the entire donation. Request a form from the appropriate personnel at your office and include it in with your gift that you send to us.

What about Gifts-in-Kind?

Gifts of materials and services are highly sought and welcomed by the Foundation. The Trustees will consider all all gift-in-kind proposals.

Is the Foundation the Same as the Undergraduate-sponsored "Alumni Association"?

No. As outlined in the Mission of the Foundation, this organization is an independent entity overseen by Trustees elected by you, the alumni of Ohio Lambda. The goal of the Foundation is to help provide for educational opportunities to deserving undergraduates for many years to come. We have a very long-term vision. In contrast, the Alumni Association is often used to satisfy short-term needs. As such, the Foundation does not consider itself in competition for dollars with the Alumni Association. Donors make choices based on where they would like their money to be used. However, please keep in mind that the Foundation is the only charitable arm of the Ohio Lambda Chapter of Phi Kappa Psi entitling its donors to a full tax deduction within the limits set by the Internal Revenue Code.

Are the Foundation and Company Related?

Yes and No. As noted in the Mission of the Foundation, Ohio Lambda Foundation and Ohio Lambda Company are two separate and distinct entities, free from control of one another. However, the two organizations are linked via one common member. This individual is an ex-officio Trustee of the Foundation by virtue of his position as Vice President of Ohio Lambda Company. Such an arrangement allows for an efficient and independent relationship between all parties with a fiduciary responsibility and/or a vested interest in the local Chapter and its undergraduates.