Sigma Alpha Epsilon - Purdue University

COst estimate Construction and Renovation $2,202,000 Furnishings $400,000 Purchase Neighboring Property $250,000 Landscaping $48,000 Architect Fee $200,000 Retire Mortgage $400,000 Project Total $3,500,000 Maintenance Endowment $1,500,000 Grand Total $5,000,000 O ver the years repairs and renovations were financed. The chapter had significant loss of operating income while the chapter was low in membership; this resulted in outstanding debt of nearly $400,000. The undergraduate chapter is currently servicing this loan but ideally we would retire this debt as part of our overall plan. A new façade and portico on the back of the house will create an inviting look the house has never had. On the main level, aesthetic updates and renovations to the foyer, dining room, kitchen, and bathrooms will provide a warm and inviting environment for all members, alumni, and their guests to enjoy. The second and third floor bedrooms will be remodeled and upgraded with new furniture. The lower level will be remodeled to keep the existing gathering and lounge space, as well as upgrade the bedrooms. In addition, bedrooms will be added above the dining room. The projected occupancy will be 114 members. The house is approximately 28,000 total square feet and the estimated total renovation cost is $3.1 million. We have our own 501(c)(3) foundation and obtained recognition to maximize the tax-deductible funding that can be applied to this project. Our goal is to fundraise $5 million, covering the entire renovation project, retiring current debt, and providing a capital maintenance fund for the future. We are securing contributions and pledges payable up to five years to the House Corporation or the Restoring the Pride Educational Foundation. Our Plan "My Purdue years were good to me, a large part due to my membership to Indiana Beta. The active members of the lodge and several of our brothers have worked hard to make Indiana Beta an excellent example of the best in fraternity life. They deserve our support; and I'm pleased to be able to give back." -Bill Madar '61

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