Securing Our Future
W
e are so thankful for those who chose to support the Lambda: Proud Past — Promising Future to Make Better Men campaign. It was
a huge success, raising more than $2.7 million. The new chapter facility is truly outstanding, and we are proud to call it our home.
The ability for rental income from the chapter to cover the cost to operate and maintain the facility is crucial to the next 25 years for
Lambda. We needed alumni funding to get where we are today but do not want to rely on it regularly. Analyzing our financial situation
led to the following items to secure our finances for the next few decades:
CAMPAIGN PRIORITIES
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3
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A Sustainable Future for Lambda
Investing and Remaining Competitive
$350,000
$350,000
$350,000
$200,000
Pay down remaining debt on Carter Avenue property from 2014 renovation
Retiring the debt will allow the facility to be operated and maintained annually
through rental income.
Development of Clocker property
The acquired property sits empty. We hope to excavate, build a parking lot on
half (as the city allows), and landscape the remainder.
Retire debt associated with acquisition of Clocker property
The Lambda alumni board delivered on our long-term goal to purchase the
Clocker property. We have already cleared and prepped the land for future
use. Currently, the alumni board is making interest-only
payments on the loan for the Clocker property.
House maintenance, expenses, and contingency
Total Debt: $700,000
Total New Investments: $550,000
As alumni, we
have a choice to
make. The rent we can
charge is not enough to
fund both maintenance
and debt service.
We know alumni do
not want to receive
continual fundraising
asks, so to ensure our
future is sustainable,
we need to retire all
debt. Supporting this
campaign was an
easy decision, as it
ensures that we have
a financially stable
and thriving chapter
for years to come. Join
me in making a multi-
year commitment to
this campaign to
secure our future.
–Steve Kozolek #1241,
Campaign Co-Chairman
