A Publication of the Zeta Phi Chapter of Beta Theta Pi
The
Zeta Phi
SPRING 2015
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www.missouribeta.com
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Beta Theta Pi -
University of Missouri
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@Beta_Missouri
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Beta Theta Pi –
Zeta Phi Chapter
Stay Connected
with Zeta Phi
Chapter Advisors Continue to
Ensure Men of Principle Values
A
s has been noted all too often in recent months, the fraternity world is under additional scrutiny
because of bad behavior on the part of various chapters throughout the country. It is clear that
the universities, national fraternity offices, and the public have less and less tolerance for inappropriate
behavior. Our advisors at Zeta Phi continue to work with the chapter officers to help ensure that our
active members do what is right.
The chapter officers recently attended a conference that is part of the Men of Principle effort launched
by the General Fraternity many years ago. The purpose of these sessions is to provide leadership train-
ing so that the officers can guide the entire chapter in a direction that will avoid inappropriate behavior.
Granted, attendance at one three-day workshop is not going to teach the men everything they need to
know and do, but it is a good step in the right direction. In the end, the phrase that was stated to many
of us years ago—"Remember who you are and what you represent"—still rings with meaning in 2015.
Financial Accomplishment for
Zeta Phi and House Corporation
B
oth the chapter and the House Corporation
had a successful financial year for our fis-
cal year that ended June 30, 2014. On a consoli-
dated basis, the organizations had net operating
income of about $450,000. This cash profit was
used to pay down the debt on the new house in
accordance with our plan established
three years ago. In addition, about
$575,000 in collections were made on
pledges toward the new house. The
combination of operating profit and
collections allowed us to reduce the
debt about $680,000, along with the
associated interest due on the loan.
I am pleased to report that about 95% of all
the pledges made for the new house have been
collected and we still have a couple of years of
installment payments to collect in 2015 and 2016
on multiyear pledges. So far, there has been very
little in the way of uncollectible pledges.
Thanks to our good credit rating via payments
on our loan and due to the good work of Bill
Toalson '70, our bank loan has been renegoti-
ated with a reduction on the interest rate down
to 3.75% and the maturity date extended three
years to 2020. The loan balance at the time of
refinancing was right at $5,000,000
which was in line with earlier pro-
jections. Our loan is an interest-only
monthly payment with four $36,000
principal payments due each year.
These scheduled payments, plus the
application of remaining pledge col-
lections, should reduce the loan to less
than $3,500,000 by 2020. At that time we plan
on refinancing any remaining balance and pay-
ing it off over 10 years.
In _kai_,
John M. Hillhouse '69
