LONG-TERM FINANCIAL WELLNESS
"Properly maintaining the KA house will give the Fraternity a
recruiting tool that can compete with the other top-tier fraternities
that have had major campaigns to upgrade their facilities."
– John Newlin '77
deBt Free By 2025
F
aced with the challenges of the past
five years, the house corporation
was forced to take on interim debt to
fund the defense of the house title as well as
shortcomings in occupancy. While Omicron
Chapter is happy to report the strength of
the undergraduate chapter today and our
overall solid foundation with the national
Kappa Alpha Order organization, we now
ask alumni to join together to ensure KA
Omicron is financially secure leading into the
next decade.
e plan will allow for the full repayment
of the first mortgage of $700,000 within the
note's timeline—2025—while still allowing
mid-term investment in the facility. is is
crucial to recruit and retain the best men at
the University of Texas by providing a safe
and competitive facility.
maintenance Fund
e current need to address deferred
maintenance is caused by a lack of
ongoing maintenance funds at the housing
Corporation's disposal. is comprehensive
plan includes a $250,000 maintenance fund.
By updating the house, and thus being able
to offer a premium facility and charge a
market rate to live-in brothers, this campaign
will allow for the corporation to continue
building the fund at an estimated $50,000
additional per year.
Any excess funds raised beyond the $2.25M
goal will be set aside for this specific purpose.
If you have an interest in helping to fund this
Maintenance Fund beyond the outlined goal
please contact D. Kent Lance '80 (dklance@
hpitx.com) or Jim McBride '80 (jim.
mcbride@bluesage.com).
totaL Project coStS
Short/Mid-Term Infrastructure Upgrade Costs $1,100,000
Long-Term Financial Wellness Costs
– Debt Free by 2025 $700,000
Maintenance Fund $250,000
Professional Fees $200,000
Total Hard and So Costs $2,250,000
