Donations?

The1calledTKE · #1 10-10-2001, 02:32 PM

Is it better to just donate money to your local chapter or just go to you chapter and help out as much as you can? I think helping out is better because more than likely they would just spend the money for a social party.

33girl · #2 10-10-2001, 07:57 PM

It all depends what the chapter needs...if it's help repairing the house or something, your presence would help more than money. But if they are broke (been there done that) or need rent, etc trust them enough to give them a little $$$. If you are wary, write a check to the landlord or whoever they owe instead of giving $$$ to the chapter directly.

Tom Earp · #3 10-10-2001, 09:49 PM

Znteke, donating is tuff accrding to IRS for deductions for taxes!

I do not know how TKE does it so cannot speak from first hand!

If you donate to your chapter you cannot deduct it! If you donate to the chapter, unless you have a strong Exec. you may not know where the money goes!

LXA, has an Ed. Foundation that is deducable for taxes!

We are doing a building fund that is not deductable! I had it set up that the money went into a seperate fund run by the Core Group and the money was only sent to it and could not be released without certain Sigs.!

It is like a contract, do it that way or is null and void! Ha, not if they have the money at the House!

The best of luck, we learned the hard way also!

That is why we are doing it the way we are. We have contro as Alums!

AKPsiZY · #4 02-27-2002, 04:43 PM

well, for my chapter of AKPsi i started an alumni giving fund through which alumni can specify exactly how the money is to be used...with 3 options (house payment, scholarship fund, and investment for the chapter). therefore, there's no concern the money will go to a keg, which i think will help with our alumni.

if a chapter doesnt have one of these types of programs, it could be beneficial.

FuzzieAlum · #5 02-27-2002, 05:08 PM

AKPsi, that is absolutely a terrific idea .... I wish more chapters did that!

AKPsiZY · #6 03-01-2002, 02:40 PM

thanks, im hoping that it takes off...its still in the final planning stages and we're planning on rolling it out at our Spring alumni picnic.
i know that when i become an alumni, it will be a lot easier for me to try and help the chapter when i know my money will address the chapter's biggest needs, rather than not know what will be done with it.

Tom Earp · #7 03-01-2002, 05:13 PM

AKP, While we are in the Throws of looking to build a new House, we can use all of the money we can get!

But; one Brother who just Graduated last year, donated $150.00 for a Scholarship fund and Charged other new Grads to do the same!

On the other side of the coin, # 6 who has doanted over 3000.00 to the new house building fund, donated $1250.00 in the name of a Brother Who just Passed this last year! So in essence He has donated well over $4000.00.

Thanks to the IRS, the last loop hole was closed, and the U Kansas was the last one able to do it!

You used to be abler to donate money for the Chapter if it went for Educational portions of the House. Study Rooms, PC Rooms, and Librarys!

Well NO MORE!

While I have Pledged $1250.00 for the House Building Fund, I already have my will set up that all assests, will go to the Chapter or the International if the Chapter is closed! Held in escrow for a period of time to reopen my Chapter. If not it will Go to International!

Pi Kapp 142 · #8 07-10-2002, 01:22 AM

Seriously, I hope to be as dedicated to my chapter and Fraternity in the years to come as you are to yours, Tom.

Kevin · #9 07-10-2002, 01:27 AM

The Sigma Nu Educational Foundation handles tax deductable donations of alums and can be earmarked to the chapters for certain uses. I'm sure different types of donations are treated differently for tax status.

AOIIalum · #10 07-10-2002, 10:30 AM

My dime's worth

I think a donation of any kind is wonderful for a chapter, whether it's a donation of time or money. Some alumni (referring to both men's and women's groups here!) don't have a lot of extra money, especially younger ones trying to establish a career and life outside of college. They may have more time to help out and be actively involved. Older alumni may be busier with career and family, but have financial resources to make monetary donations to the chapter.

Remember that a collegiate chapter depends on area alums to support them. Chapters need dedicated advisers and (house) corporation officers to function successfully. Chapters depend on an active organization of area alums for support, especially when it comes to recruitment! Be actively involved where you can, whether it be as a member of your local alumni chapter or as an adviser or officer. If you're a collegian and see a lot of alums on a regular basis, I'd bet you will be more likely to remain involved when you are an alumni.

Most, if not all organizations have a Foundation on the national or international level. There are different tax laws and such for donations, so a donation I make to the AOII Foundation may be tax-deductable. However if I make a cash donation to my collegiate chapter or corporation board I believe it usually isn't tax-deductable. Of course, check with your personal financial adviser if you want to donate money and get a tax-deduction!

One last donation tip, some employers will match your donations, up to $X per year. Check and see if your employer does so and any requirements (such as must be a tax-deductable donation or whatever). If they match, make sure to take advantage of that when you make your annual donations to your organization's Foundation!

Christin

Kevin · #11 07-10-2002, 11:06 AM

Most chapters are under tax code 501 c(7). This is the designation for social fraternties. It is generally what most describes a traditional GLO.

Donations to a 501 c(7) organization are not tax deductable.

We're in the process of filing for this right now...

The Sigma Nu Foundation will probably be how our future major contributions are handled.

Pike4Life · #12 07-10-2002, 12:45 PM

In the past, alumni for my chapter just gave the chapter money...which was VERY bad because it often did not go towards a productive aspect of the chapter. Many alumni became bitter that their donations were not recognized, used inappropriately, or simply disappeared.

Now we have an Alumni Assoc. that serves as a "clearinghouse" of sorts for all alumni donations. Alumni give money to the Alumni Assoc., and the Alumni Assoc. doles it out to the Chapter for specific areas of programming - rush, scholarship, leadership conference costs, etc. The Alumni Assoc. also splits the cost of production of the alumni newsletter with the chapter. At the end of the fiscal year, the money remaining in the Alumni Assoc. account is tallied, and 15% is placed in the housing fund and the remaining amount it rolled over for the next year.

The Housing fund is even more secure than the Alumni Assoc. fund because it requires full approval of the Housing Corp. board to take out any money. As alumni donate to the Housing Fund, the account balance is reflected on a website so alumni can see it grow. Once the fund reaches a predetermined goal with any money be taken from that fund for use to purchase or build a house.

Ideally, all alumni would contribute both money and time to the fraternity. But we all know how unlikely that is. As long as there are comparable levels of donations versus actual alumni participation, then I think it balances out fine. The key is to identify and cultivate those alumni according to what they are more likely to contribute - money or time - and use each group as best as possible.

dzrose93 · #13 07-10-2002, 02:04 PM

Quote:

Originally posted by zntke711
Is it better to just donate money to your local chapter or just go to you chapter and help out as much as you can? I think helping out is better because more than likely they would just spend the money for a social party.

This is a great question, zntke711, and as the alumnae relations advisor to a DZ chapter, I'm really happy to see it!

When it comes to supporting your chapter, I think it all depends on what you as an alum feel comfortable doing. Collegiate chapters need financial as well as physical support, so whatever an alum is willing to donate is going to be valuable, regardless of whether it's a $5,000 check to the housing fund or simply attendance at a rush party.

In regard to your comment about spending money for a social party: I don't know how other chapters are, but in DZ, we have a Housing Corporation -- made up of alumnae -- that is in charge of all funds that are related to the upkeep of the house. If an alumna wants to contribute monetarily to that fund, then I think they feel pretty confident doing so because they are sure that their donation will be going to the house and not just some random social event.

If you feel that physical support is the best route for you, then my suggestion is this: Although chapters can always use money, I think my girls right now would be satisfied to just have some more physical alumnae support. Having alums attend rituals, reunion events, and Rush parties is really important to the chapter. It means so much to the girls to see an alumna walk into the house, and I think it helps to instill the idea in them that "DZ is for life, not just college".

Support your chapter in whatever way you can. If you're just out of school and don't have a ton of cash in the bank, then let your collegiate brothers/sisters know that they're in your thoughts by swinging by the house on occasion and making a point to get to know them by name.

During mid-terms or finals, get together with some of your alum sisters/brothers and make the chapter some individual goodie bags with snacks for them to munch on during their studying and a brief handwritten note inside to wish them good luck!

On the other hand, if you're the President of your company and are having no trouble making ends meet, then visit the chapter and find out what they're lacking that would help make them a stronger presence on campus. Write a check to the housing fund for some new wallpaper in the parlor. If you don't have a housing fund, and are a little concerned about where that check might go, then maybe you can go out and buy them a TV for their den to replace the old one that's on its last legs, or call a local landscaper and have him plant some new shrubs or flowers out front to spruce up the house.

As I said before, just do what you feel secure in doing. They're going to appreciate it - guaranteed.

FuzzieAlum · #14 07-10-2002, 02:16 PM

If you're an alum far away from your chapter, or your chapter is closed (both true of me), you can do a couple of things - give money or adopt another chapter. I know I give a little money to Foundation, but I don't have much - I don't know how much it helps, but every little bit helps, right? Most of us young'uns just don't have the funds to be big donors.

You can give your time, though. I know I'll be back like a shot if I can for our recolonization and initiation, even if I can't give them the same kind of support the loal alums can!

Tom Earp · #15 07-10-2002, 04:39 PM

Time is money! So if you spend time like I do, not only in my work on the Puter, but at the Chapter 2 Hrs away or if you can give money so be it!

Remember, that all Houses are under the gun for time and money!

Nationals do not have the deep pockets to delve out money. They too are under the gun!

Do what you can, it is just a shame that all of the Alums dont put a little in as that adds up to a hell of a lot more than if a few put in!

I am fortunate that I have 3 chapters within an 1/2 drive give or take and I try to stop by once in a while!

The thing to remember, is what yor Organiztion did for you so what have you done for your Organization lately! Local or International?

It is a damn shame there are not so many more of us out in the feild so to speak to get this message to all of the rest of the Alums!

To show what Brotherhood is, I have a Brother who is paying my way to come to his 30 the Founders Day, I also had mentioned a Brother I met 3 years ago from U Wyomning at a Regional Conclave. He has worked on getting him there!

Remember, I am In KC and the Founders Day is In Orlando, well near there!

I know that there are so many of us who have lived the B/S hood and still love it! I still do as so many do after years of working in the real shitty world!