On June 24, 2008, the Sigma Beta Tau Alumni Association held its “reorganizational meeting” at Ocean Fire Co. No. 1  located in Point Pleasant Beach, NJ.  Greg Young was declared the Chairman by unanimous agreement of those present. There were many items discussed during this reorganizational meeting, one of which was that this newly formed group hoped to one day have a Sigma Beta Tau Alumni Scholarship available to an Active brother of Tau. To that end, $500 from a dormant account  was set up in a separate account as seed money for this future scholarship. The remaining $200 in the long dormant account became operating funds for our newly formed Association.  We discussed the possibility of declaring ourselves a tax-exempt organization, but after much discussion over many months, it was decided that our best avenue would be to link up our organization with the Kean Foundation. We entered into an agreement with The Kean Foundation and began to ask our Alumni Brothers to contribute towards our newly formed Sigma Beta Tau Scholarship Fund. On December 31, 2010 we were informed that the Sigma Beta Tau Scholarship fund had surpassed $25,000 and was now a fully endowed fund, and would choose its first recipient in 2011.  The first recipient of this scholarship was Sigma Beta Tau Brother, Zachary Naspinski, the 2012 recipient was Brother Emanuel (Manny) Marques, and the 2013 recipient was Brother Kyle Frankenfield.

In order to qualify for this Scholarship one must be an Active member of the Sigma Beta Tau fraternity which is located on Kean University, Union, NJ. They can be from either the Junior or Senior class, must show due diligence in their class work, have shown that they were involved in service projects both on campus and off, and clearly show that there was financial need.