The Mark S. Phillips Memorial Trust is an endowment created by the alumni association in 1987. Mark Phillips was a brother on Line 10. He served as Chapter President in 1962 and was the first brother to truly invigorate the service program. He passed away in 1971 from Leukemia. In 1987, the Mu Alpha Chapter created the Mark S. Phillips Memorial Trust in his memory.
The Trust is supervised by a board of five trustees:
- Current Treasurer of the Mu Alpha Alumni Association (Chair)
- Current Treasurer of the undergraduate Chapter
- Current Alumni Secretary of the undergraduate Chapter
- Two additional Alumni brothers elected at-large by the Alumni Association (2-year terms)
- Both the Alumni Association President and the undergraduate President serve as ex-officio, non-voting members
Alumni continue to donate to the trust today to support the service efforts of the chapter.