What significant action did the founders take before obtaining faculty approval for Omega Psi Phi?

The correct answer highlights that the founders of Omega Psi Phi took the initiative to place placards around campus as a significant action before obtaining faculty approval. This act was crucial because it served both to announce their presence and intentions to the campus community, as well as to recruit interest and potential members. By making their activities and aspirations visible, the founders were able to generate awareness and excitement about the new fraternity, which helped foster a community among students interested in joining.

The other options, while they represent common actions that organizations might undertake, do not reflect the specific historical actions taken by the founders during the establishment of Omega Psi Phi. For instance, organizing a formal ceremony and establishing a scholarship fund are actions that might have taken place later in the fraternity's history but were not the initial steps taken by the founders. Similarly, a campus-wide meeting could be a potential method to gain interest, but the specific act of placing placards was particularly noteworthy in the context of their early efforts to establish the fraternity.