Early History
In the words of Roxine Petzold, past president of Delta Omicron, "Delta Omicron Foundation, Inc., was born into an atmosphere of generosity," for a program of giving had been inaugurated by Delta Omicron Fraternity as early as 1918, when the first rotating chapter scholarships were made.
The Foundation was established as part of the Fraternity's 50th anniversary in 1958. At the 1957 Fraternity Board of Directors meeting, the board approved research into establishing a foundation (or incorporated, nonprofit trust), so that financial donations and gifts of members could be tax deductible. Roxine Petzold, the national fraternity president at the time, worked with Virginia Mikles, a Cincinnati attorney, and the Fraternity applied for the Foundation's charter. It was originally conceived as a separate but correlated organization of the Fraternity. The Foundation was chartered in 1958 as a nonprofit organization and was incorporated in the State of Ohio. The first meeting occurred on June 24, 1958 to elect officers and to approve the Foundation's Code of Regulations. The initial corporation members included members of the Fraternity's Board of Directors, as well as the immediate past president and two past national officers. Officers elected were Roxine Petzold, president; Helen Downie Bishop, vice president; Anna Marie Gantner, secretary; Agnes Holdreth Sena, treasurer; and Marie Marti, trustee. During 1959 and 1960, monies were transferred from various Fraternity funds to establish the startup principal for the Foundation. These included all donations from the Golden Anniversary Fund and other funds that were in existence. Tax-exempt status was granted to the Foundation on March 27, 1964. Over the years, the structure of the Foundation changed. In the late 1960's, Federal tax laws began to change, and by the 1990's, it became necessary to establish a separate board from the Fraternity. Currently, the Foundation has a separate board of seven trustees, with the Fraternity president serving ex officio. The Code of Regulations of the Foundation was most recently modified in 2012. Members of the Past National Officers Club of Delta Omicron are members of the Foundation corporation. The Foundation remains a 501c3 nonprofit organization, separate from the Fraternity's 501c7 designation. |