October 16, 1931 - Clemson suffered a surprising 6-0 loss against The Citadel in a game played in Florence. After the game, Coach Jess Neely, Captain Frank Jervey and others met in a car outside the stadium to discuss ways Clemson could help its football program get back on track. The meeting started the ball rolling towards the establishment of the IPTAY Foundation. Clemson would score just three touchdowns and win just one game during the 1931 season.
August 20, 1934 - IPTAY, the nation’s first scholarship fundraising organization, was founded. Dr. Rupert Fike, a cancer specialist from Atlanta and Clemson class of 1908, wrote Jess Neely a letter documenting the formation of the organization. “Last night we had a little meeting out at my house and organized the IPTAY Club,” Fike wrote. “The purpose (of IPTAY) shall be to provide financial support to the athletic department at Clemson and to assist in every other way possible to regain for Clemson the high athletic standing which rightfully belongs to her.” The organization was first established as a secret organization and initial membership dues were set at $10 a year. Many had suggested that $50 be the minimum donation, but Fike’s foresight thought it would be best to get as many Clemson supporters involved as possible, so he established the $10 minimum.