Since then, it has become a fund solely for Pi Kappa Phi Properties to lend to undergraduate chapters and house corporations. At the 53rd (2012) Supreme Chapter the fund was renamed the Stpehen P. DePalma Infrastructure Loan Fund to honor past National President Stephen P. DePalma who was instrumental in the formation of the ILF .Today the fund has grown to $1.6 Million and is administered by Pi Kappa Phi Properties Inc., and approved by the Properties Board of Directors.
Pi Kappa Phi Properties has funds available to help your chapter with housing projects! Here are some frequently asked questions.
Q: How is the ILF funded?
A:$20 of every new initiates $195 initiation fee is allocated to the Stephen P. DePalma ILF up to the maximum of $50,000 per year.
Q: Who can apply for a loan?
A: All student chapters of Pi Kappa Phi Fraternity including associate chapters, alumni housing corporations, and alumni chapters.
Q: What purposes can the ILF be applied to?
A: Real estate acquisitions, real estate loan, security deposit, leasehold improvements, repairs and maintenance, furniture, fixtures, and equipment, retirement and restructuring of third party debt, loan to preserve and protect housing assets, and short term bridge financing.
Q: Is there a minimum or maximum amount that can be borrowed?
A: Pi Kappa Phi Properties strives to maintain a diverse portfolio, in terms of number, size, and types of loans outstanding, with the intent of serving as many Pi Kappa Phi chapters as possible. The Administrator has established a transaction limit of 25% of total fund, per the Balance Sheet. There is no minimum borrowing amount.