The TEP Foundation, Inc. is the 89 year old Charitable Arm of Tau Epsilon Phi Fraternity. Proudly awarding Scholarship, Award, & Education since 1934. 501(3)(3) The TEP Foundation is the 89-Year Old Charitable Arm of Tau Epsilon Phi Fraternity. NYS; NFP, 501(c)3 The TEP Foundation is a nonprofit corporation whose mission is to promote the values of the Tau Epsilon Phi Fraternity through academic scholarships, awards, and educational programming. The scholarships, as well as the academic and leadership programs, funded by the Foundation enhance educational, leadership, and ethical growth of our membership in Tau Epsilon Phi Fraternity by complementing the collegiate experience.