Theta Chi - Drake University

ALUMNI BOARD UPDATES W hen the board speaks with brothers, there seems to be some confusion about the differ- ence between the ΘX Building Corporation (ΘXBC) and the Helping Hand Founda- tion (HHF). ΘXBC is the primary organization that supports the fraternity. It owns the house, employs House Director Chris Miller, oversees the undergraduates, and communicates with the alumni. ΘXBC is a 501(c)(7) not-for-profit corporation. Donations to ΘXBC are not tax-de- ductible for federal purposes, but because of changes to the tax law deductions today, this might not be as important to small donors as it was five years ago. Therefore, please consider giving directly to ΘX Building. The Helping Hand Foundation is a 501(c)(3), so donations are tax-deductible. However, we can only use this money for scholarships or to pay for 33% of our annual operating expenses, not in- cluding the mortgage, food, fundraising, accounting and payroll. Consequently, we get grants from HHF for about $30,000 annually, which is a relatively small amount. Each board is run by different members and meets at different times to discuss their operations. Below are the brothers who volunteer on each board. PAGE 2 Theta Chi OXBC President Chris Swan '86 Physical Structure Al Kopec '79 Treasurer Gregg Shaffer '87 Secretary Adam Graves '16 Board Member and Legal John Riley '84 Fundraising Tom Rossley '82 John Felsenthal '19 Undergraduate President William Krane '22 General Board Members Kurt Bowermaster '86 Joe Aiello '80 Michael Thornton '13 Adam Sickley '16 Helping Hand Foundation President Davis Heck '19 Treasurer Jack Haben '20 General Board Members John Riley '84 Joe Eilers '85 Al Kepler '85 Matt Harding '17 Information from ΘXBC Treasurer Gregg Shaffer • Food and mortgage: $159K • Other operating expenses: $140K • Mold: $88,510 • HHF payments to OXBC: $30K • Revenue from room & board: $260K • COVID year room & board: $230K Is Your Pledge Payment Up to Date? ΘXBC Needs Your support T he fundraising arm of the ΘX Building Corporation has been hard at work reaching out to brothers who made pledges to the capital campaign but have not fulfilled their obligation. As reported in the last newsletter, there were outstanding balances to ΘXBC and the Helping Hand Foundation of $181,000. Since then, the fundraising group has collected nearly $20,000 to bring the outstanding balance of commitments to $161,046.55. As Chris mentioned on the prior page 2020 was a year filled with financial burdens for Gamma Tau, and thanks to the support of our brotherhood, we weathered the bulk of the storm but are not out of the woods yet. COVID-19 is forcing Greek systems nationwide into a rebuilding phase in 2021 and 2022. Because of this, ΘXBC needs your help to pay down the mortgage and guarantee a future for the fraternity for decades to come. Please consider making a reoccurring pledge to ΘXBC by donating a monthly or annual contribution through our secure contributions form, tinyurl.com/ OXBuildingCorp. Every donation helps support a better college experience for future generations of Drake Theta Chi graduates. The Drake college experience that we all love and cherish was made possible by those who came before us; now it is up to us to pay it back. Tristan Alcorta '21 Major: Digital media production, rhetoric minor, LEAD concentration Intended career path: Video work in the music industry Destination after graduation: Des Moines, Chicago, Atlanta, or either coast www.linkedin.com/in/tristan-alcorta-2ab047186 Dalton Bach '21 Major: Finance, economics minor Intended career path: Business valuation and investment banking Destination after graduation: Minneapolis, but open to anywhere www.linkedin.com/in/dalton-bach-37a5b6154 Calvin Blume '21 Major: Quantitative economics and data analytics Intended career path: Data analyst Destination after graduation: Des Moines www.linkedin.com/in/calvin-blume-523a16173 Charles DeMerit '21 Major: Accounting, biology minor Intended career path: Architecture Destination after graduation: Seattle, Phoenix, Denver www.linkedin.com/in/charlesdemerit Jason Grady '21 Major: Clinical and applied health sciences Intended career path: Doctor, PA, surgical sales Destination after graduation: Somewhere warm! www.linkedin.com/in/jason-grady121898 Isaac Franks '21 Major: Finance Intended career path: Financial advisor Deserving of Pomp and Circumstance Congratulations, Seniors!

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