CAPEF

Cleveland Alumnae Panhellenic Endowment Fund

The Cleveland Alumnae Panhellenic Endowment Fund (CAPEF) was established in 1985 as a 501(C)(3)
Private Foundation by the Internal Revenue Service which allows us to provide greater protection and
oversight to manage the scholarship funds of the Cleveland Alumnae Panhellenic Association.

This means we are a non-profit organization which is solely established for charitable and/or
educational purposes. Along with being exempt from Federal Income tax, donations made to CAPEF are
tax deductible which is a huge fundraising benefit.

CAPEF provides local area sorority women the opportunity to access scholarship money for their
educational endeavors either undergraduate or graduate. The first recorded scholarships given in 1955
were for $200 each. As of today in 2021, we have increased the amount considerably to $2000 each.

Trustees function as the Investment Committee and have fiduciary responsibility for the funds.

  •  3 First Class Trustees, which are the immediate past president, current treasurer and current
    scholarship chair (one year term).
  •  4 Second Class Trustees, who are non-delegates of CAPA with a 3 year term, with a maximum of
    3 terms.
    • The President is the Statutory Agent
    • Treasurer writes all checks and balances accounts
    • Fund Administrator posts notices in the Legal News and brings suggestions for new
      investments to the committee
    • Secretary keeps minutes.