An excerpt from the Fall Alumni Newsletter:Â
Alumni dues are akin to SUâ€™s annual giving, or a public radio fundraising campaign, and like every other non-profit, the Iota Alumni Association fundraising goes to support operating costs for our fraternity, of which we all still derive great benefit.
Operating costs pay for the following in priority order:
- Loan repayment
- House repairs (Next up: stove, vent hood, and plumbing)
- Homecoming and Alumni weekends
- Scholarship and rush
We spent many years fundraising in a â€œcrisis environmentâ€ and we still need to make the shift toward fundraising in a â€œnormalâ€ environment for simple fi scal and operational health.
Membership dues averaged $158 per alumni last year with gifts ranging from the minimum of $60 to $5,000.
Recent Financial History:
- Summer 2003: Iota Alumni Association took out a 15 year note of $150,000 at 5.5% interest per annum from Southwestern University for House improvements including, but not limited to kitchen, deck, floor, windows, fire alarm and security.
- 2004: More than 110 alumni and friends contributed in $15 to $5,000 contributions.
- 2005: More than 70 alumni contributed in $25 to $5,000.
- Fall 2006: Our first scholarship of approximately $1000 is granted for this fall semester for Robert Atkinson, a sophomore active from San Diego. The next scholarship awarded should be for approximately $3000
- Fall 2006: Several alumni and an alumni pledge class paid dues for three Active brothers who were unable to pay. This enabled the Active Chapter to be 100% prepaid for the entire semester (dues and rent) for the first time in history.
- Beyond 2007, whatâ€™s the picture for long-term financial stability?
Please join the Iota Alumni Association today by sending in a check or contact:
24 Greenway Plaza Suite 440
Houston, TX 77046
bedard at ephorgroup dot com