Alpha Epsilon Pi's Founders were all young men of serious purpose, employed during the day, coming from middle-class homes, who sought to get ahead by obtaining the formal training offered at New York University in the evening sessions. The catalyst for the founding of Alpha Epsilon Pi was the transfer of Charles C. Moskowitz from the College of the City of New York to New York University's School of Commerce.

While enrolling at C.C.N.Y., Charles Moskowitz, a fine basketball player, was heavily sought after for his athletic skills. When he enrolled at New York University, his reputation had preceded him, and he was immediately rushed and given a bid by one of the fraternities. When Charles Moskowitz asked whether bids could also be extended to his friends, he was immediately told that the bid was for him alone. Brother Moskowitz had a circle of close Jewish friends which met after work for dinner before going to class. Evidently, Founder Moskowitz discussed this with his friends, and they decided that fraternities were good for the students, and, since there was no patent on the idea, they would start one of their own.

The group had its meals at German rathskeller on Second Avenue, within walking distance of the university. The basement was open to the public only in the evenings when business was especially brisk. The young men talked with the owner, who agreed that if six or eight men would eat there regularly every school night, he would give them a private area in the rathskeller. And that is how Alpha Epsilon Pi began.

When the founding group finally jelled, there were eleven founding members: Charles C. Moskowitz, David K. Schafer, Isador M. Glazer, Herman L. Kraus, Arthur E. Leopold, Benjamin M. Meyer, Arthur M. Lipkint, Charles J. Pintel, Maurice Plager, Hyman Shulman, and Emil J. Lustgarten.

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