Foundation Financial and Legal

The Beta Iota Foundation is a non-profit organization, classified as a 501(c)(3) private foundation. Under federal tax laws we are required to make qualifying distributions equal to 5% of our assets annually towards our stated purpose of undergraduate scholarships.

The majority of the Foundation's assets are currently managed by Dimensional Fund Advisors, in accounts carried with National Financial Services LLC, member NYSE, SIPC.

Please contact the Foundation at administrator@betaiotafoundation.org for additional questions and information regarding the Beta Iota Foundation's legal disclosure requirements according to Internal Revenue Code section 6104, including Form 1023, Form 990-PF, and the Foundation's determination letter.

Scholarships

The Executive Committee has outlined a set of application judging criteria as well as a prioritized hierarchy for consideration during the application selection process. This hierarchy aligns the selection process with the founding tenets of the Beta Iota Foundation, namely to prioritize those applications that originate from alumnus of the Beta Iota Chapter of Delta Tau Delta Fraternity at the University of Virginia or more generally to benefit the Greek community at the University.

Selection Criteria

· Leadership qualities evident within both academic and extracurricular environments

· Scholastic Achievement including current GPA, Honor Roll Membership and other awards

· Quality of essay responses - essay responses to receive a weighted average rating from the Selection Committee

· If applicable, philanthropy and leadership within the Greek community during the trailing calendar year

Selection Hierarchy

In descending order of priority, the Foundation will target current or potential students that meet the following criteria. The Foundation will continue to pursue eligible students for scholarship opportunities to an absolute dollar giving limit agreed to on annual basis by the Foundation’s Board of Directors.

· The immediate children of Beta Iota Alumnus applying to or currently enrolled in the University of Virginia

· Other Relatives of Beta Iota Alumnus applying to or currently enrolled in the University of Virginia

· The immediate children of Beta Iota Alumnus applying to or currently enrolled in an undergraduate program

Incoming undergraduate students recommended by a Beta Iota Alumnus

· Current undergraduate students at the University of Virginia that are members of the Greek community

Types of Scholarships Offered

· Target of four to eight $5,000 scholarships in calendar year 2020

· Payment structure my vary as one payment or structured over the course of the undergraduate enrollment

· Applicants not selected for scholarships are encouraged to re-apply in subsequent years

· Past Beta Iota scholarship winners are not eligible to apply again

Mission Statement

Founded in 2009, the Beta Iota Foundation is a non-profit organization focused primarily on delivering financial aid directly to prospective and current students in the form of merit-based scholarships. The Foundation has been seeded with the money raised from the alumni of Beta Iota Chapter of Delta Tau Delta Fraternity at the University of Virginia. The Foundation aims to serve as both a positive philanthropic force within the University community as well as a conduit for giving back for alumnus of Beta Iota who have taken so much from their experience at the University and associated Greek community and from membership in the Beta Iota Chapter of Delta Tau Delta.

A common thread amongst all of the brothers is the incredibly strong bond of friendship formed during each member's time at the University. In interest that others may continue to have this outstanding opportunity as the brothers of Beta Iota did, the Foundation will also prioritize those applicants who take leadership positions within the Fraternity system at the University.

As a secondary priority to merit-based aid, the Foundation will also aim to preserve its current capital base over the long term such that philanthropic activities may continue for many years to come. As part of this effort the Foundation will provide oversight over external organizations who will oversee the direct investment management activities of the Foundation.

Officers, Directors & Committee Members

Foundation Officers

 Andrew Wilson, President

 Benjamin Dekker, Treasurer

 Foundation Board of Directors

 Benjamin Dekker, Chairman
 Andrew Wilson
 Barton Harris
 Jason Beverage
 Daniel Stern
 Chris Casscells
 Victor Hanna

 Scholarship Selection Committee Members

 Jason Beverage
 Jon Ambler

 Jonathan Blank
 Chris Casscells
 Benjamin Dekker
 Bobby Dressel
 Adam Greene
 Victor Hanna
 Barton Harris
 Jonathan Havens
 Rob Manoso
 Michael Tarasovic
 Parker Tresemer
 Andrew Wilson