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April 24, 2004
The meeting was called to order at 4:40 p.m.
Minutes of the 2003 Homecoming meeting were reviewed and approved.
Fund Drive Committee Chairman Dennis Foley, together with Mark Luellen from Affinity Connection, reviewed the status of the financial feasibility study. Dennis is meeting with Charlie Frick, our Lead Gift Officer, between May 10 and 13 in Pittsburgh. Mr. Frick will also be meeting with other brothers in the Pittsburgh area. A “project summary” is being finalized and should be mailed in the next two weeks. The summary will include surveys to gauge support of our project and get general feedback. It is hoped that the financial feasibility study will be completed by mid-summer. A discussion was also had regarding pending legislation that may make donations to the alumni association for a brick and mortar project tax deductible.
Alumni President Ed Brown indicated that Jim Thompson from the Norwich Housing Corporation had called earlier in the week to reaffirm Norwich’s continued backing of Omega’s ongoing rebuilding effort. Ed and Br. Thompson will speak again soon regarding our upcoming financial needs.
Alumni Treasurer Jim Stuhltrager reviewed our financial needs. Insurance - $12,000.00; real estate taxes - $7,000.00; our first mortgage has a balance of around $32,000.00. We need between $28,000.00 and $32,000.00 annually to meet operating expenses.
UNDERGRADUATE REPORTS
Undergraduate President Jacob Wolf reported on
academics (GPA of 3.32 – ranked #2 of fraternities), extensive
involvement with philanthropies, including Dance Marathon, and
member attendance at conferences and conventions. There have been
no problems with alcohol free housing. There are currently 14 undergraduate
members with only half that number living in house due to contract
obligations. The last pledge class produced 6 brothers; the goal
for Fall Semester is a pledge class of 15. The Chapter House will
be closed for the summer.
Undergraduate Treasurer Avi Sadiky presented the
undergraduate budget and a detailed breakdown of expenses for Spring
semester 2004. The house bill is $2,700.00 per semester and includes
5 dinners a week. It was noted that this figure is below our house
bill in April 2001 of $2,775.00 and less than the 2003 PSU charge
of $2,970.00 for a standard double room and 12-13 meals a week. Chapter
rent to the alumni corporation is $5,000.00 per semester; this is
down from $15,000.00 pending an increase in undergraduate occupancy.
The undergraduates will purchase a mower to cut down on the cost
we are paying through FPA for lawn maintenance. It was stressed by
the alumni that the lawn must be maintained to avoid fines from the
Borough. The undergraduates were also going to have members with
housing arrangements check on the cost of canceling leases and contracts;
it may be worth having the undergraduate chapter pay the member’s
termination fee in order to get another paying member living in house.
OLD BUSINESS
Elections for President, Vice President and Secretary will be held
at Homecoming – October 23, 2004 – for a 2 year term.
The Board of Directors will also appoint a Treasurer and Financial
Advisor for a 2 year term. All interested persons are to contact
either Ed or Jim for additional information and to be placed on
the ballot.
(Brian Spencer expressed an interest in the Treasurer position).
Rich Maltz reports 4,000 hits thus far on our web page and asked for updates and information.
For the good – Rich Maltz was again
commended for his work on the web page.
No further business at hand, the meeting was adjourned with “It is to
Thee, Dear Old Theta Chi”.
