(Revised and Approved 10/2016)
To generate new ideas for resource development and management for professional development activities; to increase funding for professional development opportunities; and to review and monitor Epsilon Sigma Phi’s financial management plan.
See the policy section (Section O (Policies) - ESP Financial Holdings, Investment, and Development Fund Policies) for more information on ESP financial holdings, investment policies, the development fund, and development fund spending policies.
The National ESP Council took steps in 1985 to establish a National Epsilon Sigma Phi Foundation Fund to foster even greater emphasis on "Partnership in Professional Excellence" among ESP members and the Cooperative Extension System as a whole.
Epsilon Sigma Phi's most valuable asset is the quality of the Extension faculty/staff dedicated to serving people across the nation. Membership dues provide a base of financial support, within the chapters and nationally, for the ongoing operations of our organization. But, private tax-exempt contributions are necessary to provide an extra margin of excellence. After receiving legal counsel in 2002, the fund name of Foundation was dropped and Development Fund was determined to be the more appropriate designation.
Epsilon Sigma Phi has a commitment to future excellence through the Development Fund to:
To help reach a projected goal for an endowment fund of at least $500,000 in restricted member donations, each chapter is asked to name an Endowment Chair to give leadership to the local effort. The National Board named the Resource Development and Management Committee to give leadership and develop support materials for use with the chapter campaigns.
The Scholarship Auction at the National ESP Conference generates revenue for the Development Fund and the Organizational Fund (50/50 split).