Late last month, the Society for Preservation of Greek Housing approved Omega Chapter's application for membership. As part of the approval, $344,000 of the chapter's $398,000 of proposed renovations were deemed acceptable for tax deductibility.
The Society was formed to aid in the preservation of historically and architecturally significant Greek houses, to work to have additional houses listed on the National Register of Historic Places, to fund historical research/writing projects, and to conduct educational open houses and seminars to educate the public about these Greek-affiliated structures.
To aid in preservation and rehabilitation of the chapter houses, the Society will provide grants for:
• Health and safety code requirements that do not result in the loss of character
• Major structural rehabilitation or restoration
• Exterior rehabilitation or restoration
• Interior rehabilitation or restoration
All donations made to the Society may be deducted as provided in Section 170 of the Internal Revenue Code of 1986.
Direct gifts of appreciated securities, beneficiary designations under wills and/or living trusts, and other similar gifts are welcome. Bequests, legacies, devises, transfers, or gifts to the Society are deductible for Federal estate and gift tax purposes if they meet the applicable provisions of sections 2055, 2106, and 2522 of the Code.
For the capital campaign, the alumni Board of Directors is working to determine the processes for assignment of tax deductibility, and the contribution pledge process. These will be announced after the alumni board completes acquisition of the house from National HQ at the end of September.