this message was posted today on the Pi Beta Phi website
Elementary School and Arrowmont to Benefit From Sale of Gatlinburg Property
Grand Council announced that Pi Beta Phi Elementary School located in Gatlinburg, Tennessee, will be the recipient of a $1 million gift, which is to be used for an endowment or to establish a foundation.
Pi Phi has also clarified their intentions for Arrowmont School of Art and Crafts. Contingent on the contract as currently written the crafts school stands to receive up to $9 million from the Fraternity.
For this and other information concerning the sale of the Gatlinburg property read the FAQ
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