Your Alumni Association agreed to pledge $1,000,000 to Stetson University and thus the Lambda Chi Alpha Alumni Association Endowed Scholarship Fund was created. This Stetson-controlled fund is to provide scholarships for Lambda Chi brothers and legacies. Fully-funded, with a historical investment return of 6%, it is providing about $60,000 worth of scholarship money for our brothers each year.
The scholarships for our Lambda Chi student brothers were already being funded by Stetson. The earnings, not the principal, from the Scholarship Endowment will be used to partially reimburse Stetson for already approved scholarships for Lambda Chi student brothers. Having another fund help carry the load was beneficial, so much so that Stetson agreed to provide ZTZ with a new chapter house. And what a beautiful house it is! Clearly, better than anything on fraternity row – and closer to the center of campus.