Theta Chi - Drake University

PAGE 2 Theta Chi T hanks to generous contributions from many of our alumni brothers, ΘX Building Corporation has some cash in the bank and is keeping your new chapter house in good working order. Keeping recruitment high in the active chapter, as well as the house at full capacity, is our greatest asset for managing the financial health of our ongoing expenses. There are a couple of items, however, that keep us up at night. The first is the $1,000,000 mortgage outstanding on the house. We received wonderful commitments and gifts from most of our alumni brothers, but due to fundraising costs, the cost of building the house, and contributions made to the Helping Hand Foundation (HHF), we have been unable to reduce the mortgage as much as expected by this time. Gifts made to the HHF were tax deductible for the donor, but carry some strings for us. The HHF funds can only be used for educational purposes. Thirty-three percent of the house square footage is deemed educational. HHF has assisted ΘX Building with grants for one-third of allowable annual expenses, which has helped, but it won't make a dent in the mortgage. The other looming expense coming in July 2020 is the increased real estate tax. In 2015, we were granted a five- year stay on our tax bill for making improvements to the property. Starting in 2020, we expect the tax bill to be approximately $38,000 for the new house, as opposed to the $8,000 we have been paying. We continue to need alumni support to make our Gamma Tau Chapter viable and successful for future generations. Please consider purchasing a brick for the patio or continuing your annual contribution from a previous pledge. If you have any questions or are interested in contributing, please reach out to our consultant, Allison, at amazzei@penningtonco.com or give online at http://drakethetachi.org/ theta-chi-campaign/donate-to-theta-chi/. We thank you for your support! Fraternally, Gregg Shaffer '87 Treasurer, ΘX Building Corporation Alumni Support Crucial for Financial Stability Help Gamma Tau by Contributing Today Number of years since Greek community established at Drake B ricks from our old home on 34th Street are still available for purchase, and we invite you to claim one as your own with a personal engraved message. Each brick may have four lines of text with 20 characters per line (including spaces and punctuation). The bricks will be featured in our new patio space. To claim your brick, a recurring donation of $500 a year (or $42/month) for five years is required. Alumni are encouraged to set up a recurring gift that will guarantee their giving participation every year. This is easy to set up and makes you a member of An Assisting Hand Society, which recognizes loyal alumni donors. Don't miss out on this limited opportunity. Bricks are available on a first-come, first-served basis! Set up your donation today at http://drakethetachi.org/theta-chi-campaign/ donate-to-theta-chi. Thanks to the following brothers for purchasing bricks: BRICKS STILL AVAILABLE Get Your Own or Honor a Brother Joseph F. Aiello '80 Tim Bellagamba '82 Chris Swan '86 Gregg Shaffer '87 Bob Gilles '89 Michael Thornton '13 Adam Graves '16 Did You Know? Fast Facts about the Drake Greek Community and Theta Chi 70 Number of years since Theta Chi was installed at Drake 1949 Year installed Greek chapters at Drake Over 175,000 Theta Chi members nationwide +++++ +++++ +++++ +++++ 20 14 New members 3.33 Chapter GPA All-fraternity average 3.22 3.17 All-men's average 75 Over

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