Giving to MIT
Giving money to MIT helps maintain MIT’s educational excellence and assists the current generation of MIT students to cope with eye-popping cost of an MIT education.
There are two funds of particular interest to MIT alumni of TEP:
The FredFund⌗
Fred Fenning was a beloved member of TEP who died after his airplane experienced a mechanical failure. Fred donated his time generously to the house after graduating and his technical abilities and warm-hearted nature were an inspiration to generations of TEPs.
The FredFund is an endowed scholarship at MIT that was set up by Fred’s parents after his death. The current principal in the FredFund is $513,082 (as of Dec 2013) and it has paid out $284,501 in scholarship funds since its inception in 1998.
Help support scholarships for undergraduates by directing your MIT gift to the FredFund.
The IRDF⌗
The IRDF (Independent Residence Development Fund) provides a pool of money that is used to subsidize loans to Independent Living Groups. The loans are generally used for capital improvement programs.
Xi chapter has made use of IRDF funds for a number of projects, including:
- Fire alarm systems
- Kitchen ventilation
- Double-pane windows
The IRDF provides loans at below-market rates and donations from alumni help make up the difference. Help support much-needed infrastructure improvements at MIT’s ILGs by directing your MIT gift to the IRDF.