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 primary 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 established as 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 primary purpose would be to aid needy college 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 have been established over the years, 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 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, as terms expire, Trustees 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.