Supporting the Literary, Scientific, and Charitable Activities of
America's oldest continuous college fraternity
Organized as a trust under the laws of New York and recognized by the Internal Revenue Service as an approved charity under section 501(c)(3) of the tax code, the Foundation exists to support the educational, leadership, and charitable activities of the fraternity and its members. The Foundation is governed by a self-perpetuating Board of Trustees that manages the endowment, oversees solicitations, and approves scholarship and grant applications.
An important advantage enjoyed by the Foundation is its tax-exempt, tax-deductible status under the IRS code. This means that those making contributions to the St. Elmo Foundation are able to receive valuable tax benefits for their support of the Foundation. Unfortunately, because of the structure of the law, contributions to any general fraternity are not likewise deductible.
The Foundation's flagship efforts center around its two scholarship programs, each named for a prominent alumnus. Scholarships are competitively awarded based on grades, leadership, recommendations, and financial need. The applications are reviewed by a scholarship and grants committee which then makes recommendations to the Trustees. Awards are generally made twice per year.