Alpha Tau Omega - Rose-Hulman Institute of Technology

ALPHA TAU OMEGA • GAMMA GAMMA CHAPTER ROSE-HULMAN INSTITUTE OF TECHNOLOGY • SPRING 2022 W hat began as a twinkle in the eye of Brother Ron Reeves '58 several years ago has now resulted in a fabulous and long overdue renovation of our iconic chapter house! The items that were still in progress at Homecoming 2021 have all been completed, and as of this writing, only the final landscaping and painting of the new basketball court remains to be completed. Design and construction costs stayed on budget, which is a fantastic outcome given the recent inflationary pressures on construction materials and labor. Kudos to Brother Bruce Ungethiem '77, who more than ably managed the physical project and all its complexities. We have included a few photos of the completed rooms and facilities that were still underway during Homecoming. As you will see in the article from Chapter President Jake Phillips '23 on page 6, the active chapter is doing well and is extremely grateful for the investment in the house—and the earlier-than-anticipated opportunity to use the upgraded facilities. Just as importantly, we now have over 300 brothers who have contributed or pledged $2.9 million toward our $3 million goal. As a result, we can say with 100% confidence that our goal—of having the best house, in the best location, for one of the most decorated and admired ATΩ chapters in the nation—has come to fruition! Our sincerest thanks go to the brothers who have made the financial commitments so far to make this happen. It is now important that we not only meet, but also exceed our goal, and we have established a target of at least $3.1 million to cover anticipated non-payment of a few pledges as well as additional projects that were not in the original scope but are needed to fully complete the restoration. As Bill Daugherty '87 (who led the initial campaign with limited resources and support for several years) can attest, running a campaign of this magnitude is quite an undertaking, and we are immensely grateful to the continued efforts of our 15-brother campaign board—as well as almost 60 other brothers who are soliciting donations from their classmates. We also greatly appreciate the support of the Housing Corporation Board (who owns the asset), the Board of Trustees (who advise and mentor the active chapter), and the active chapter (who, over time, are contributing almost $900,000 of the $3.9 million total cost of this project). One of the most welcomed collateral benefits of this capital campaign has been the renewed alumni interest and involvement in the chapter, which is always one of the key factors in the strength of any fraternity. We are seeing this with a larger and more engaged Housing Corporation Board, new and younger brothers joining the Board of Trustees, and new initiatives being developed with the active chapter, such as a broader risk assessment process. That process will not only ensure our investment in the house is well cared for going forward, but that other risks to chapter operations are also clearly understood, monitored, and actively managed by actives and alumni working together. (More information about this initiative is on page 5.) One of our campaign goals is to finish with a $350,000 capital endowment, which will fund future capital needs. Since 1969, the house has naturally required increased maintenance, replacement of obsolete fixtures, furniture, and hardware, and investment in new technology, such as modern digital infrastructure. Often, due to lack of discretionary funds, the chapter had to decide between limited scope upgrades or deferring both necessary maintenance and desired upgrades. We want our house to remain in top condition going forward, and rents are being increased to cover additional maintenance requirements—as well as the expected $600,000, 25-year mortgage coming out of this campaign. We also know there will be larger, unexpected maintenance items or desired upgrades in the future that will require funding beyond annual operating budgets. This endowment will ensure those requirements are funded and met without having to ask alumni for additional contributions in the foreseeable future (hopefully another 50 years!). Clear criteria have been established for which investments will be covered by the operational budget versus the capital endowment. GAMMA GAMMA CAMPAIGN STILL NEEDS YOUR SUPPORT! Please Don't Just Watch from the Sidelines—Act Today The new downstairs pledge study room. (Continued on page 3)

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