2010 Homecoming Meeting Oct. 9, 2010

A. Call to Order – 9:05am 1. Introduction of officers 2. Introduction of Alumni and Undergrads

B. Reading and Approval of Minutes from 2010 Founder’s Day Meeting

C. Reports of Officers and Committees:

1) Alumni Reports - Treasurer Report: Richard Maltz for Chris Burke

1. August 1st deadline for buying back the Chapter house from National 2. Chris Burke has been tasked with securing a mortgage – which he has

already started – Chris Burke’s main focus will be to bring all finances in order and to secure a loan

3. Need to touch base with National about getting a signed purchase agreement

4. Need to get a property appraisal 5. Richard Bartnik will work on capital campaign, but we need a couple

of volunteers to help. 6. See attached reports for more detail financial info

2) President Report: Richard Maltz

1. OmegaFi – will have to do this in some way. Looks like the minimum we can participate is to have them collect all the National Fraternity Fees (insurance, recharting fees and brother fees

National Partnership with Omega Financial The Grand Chapter has selected Omega Financial, Inc. to provide billing and financial services for all chapters. Omega currently works with 25 of our chapters, which gives them significant experience within Theta Chi. In addition, Omega has similar national partnerships with 12 other sororities and fraternities: Alpha Delta Pi, Alpha Gamma Delta, Alpha Kappa Lambda, Alpha Xi Delta, Delta Sigma Phi, Kappa Alpha Order, Phi Kappa Tau, Phi Sigma Kappa, Pi Kappa Alpha, Pi Kappa Phi, Sigma Tau Gamma and Sigma Pi. For those who may not be familiar with Omega Financial, their proprietary system allows members online access to their individual accounts and to pay chapter bills online. In addition, chapter officers, chapter advisers, house corporation officers, and other alumni volunteers will be able to

have real-time, online access to the chapter’s finances and membership information. Omega has proven itself to be a leader in fraternity financial management. After full implementation, Omega’s average collection rate for fraternity chapters is an impressive 96.01 percent. Based on these results, the vast majority of our chapters can expect to see an overall increase in cash flow. Rollout of this program will begin this fall, and all chapters will be required to begin using the service within the next 12-18 months. Specific deadlines for chapters to adopt this service will be announced at the Convention. If your chapter is currently required to use financial services provided by your college or university, exemptions to this requirement will be considered on a case-by-case basis. Omega Financial will provide this service to all Theta Chi chapters at a discount. Those chapters currently using Omega will also receive a reduction in rates. Each chapter’s rate will be assessed individually depending on budget and chapter size. Effective immediately, please do not contract independently with any other financial services provider or renew any existing relationships for these services. The International Headquarters staff stands ready to assist individual chapters as we fully implement this program. Further details on this partnership will be presented at this summer’s Convention and in subsequent mailings.

2. Discussion to figure out if the Penn State Collection system is

required and if so could we get a wavier from the OmegaFi program. 3. Need to form a nominations committee by Founder’s Day weekend

for elections at next year’s Homecoming. Looking for volunteers. 4. Need to produce and follow a calendar of due dates – a calendar of all

events, due dates, etc will be published online – see attached sample calendar

5. Undergraduates have issues with the raise in rent and the fact that they met their goal of having a certain number of brothers in the house.

a. Discussed possibility of given chapter a rebate – alumni to give it further discussion

6. Discussion of work needed to be done to chapter house. All work (no matter how small) must be approved by Jereme @ National.

a. Talk about basement French doors needing to open out, while they currently open in

7. Windows – plans to replace windows on first and second floor are for this coming summer. Depending on National and where we stand with purchasing chapter house will effect when this work can actual start.

3) Undergraduate Reports - Vice President Greg Smith for Nick Geyer

1. Fall pledge class of 11 and initiated 7 brothers this past spring 2. So far for Homecoming they have placed 3rd in talent and have

brother Daniel Cartwright on the Homecoming court and we are paired with Sigma Alpha Sorority

3. KICKS had 24 teams and raised $2000 for Autism Speaks. 4. Chapter finished spring semester with a 3.19 GPA 5. top 10 spot in the Penn State Intramural Standings with promise in

our soccer and volleyball teams. Brother Jim Barrett earned first place in the IM 5K for the second straight year and our Softball team went 1-4

6. The chapter has become even more involved on this campus by rejoining the Greek Week festivities during April and were paired with Sigma Nu Fraternity and Sigma Sigma Sigma Sorority

7. We are participating in our first Greek Sing with Delta Upsilon Fraternity and Sigma Sigma Sigma Sorority

8. As for our recognition, the chapter has earned the Chapter Achievement Award for the second straight year with our goal to boost our efforts to try for the Alter Award next year and on campus we have also earned another consecutive Chapter of Excellence award by Penn State

9. National no longer bans alcohol in chapter house, but chapter will follow all state, local and IFC rules governing alcohol and parties at chapter house.

Decentralization of Alcohol-Free Housing (AFH) Policy Continuing efforts to decentralize the Fraternity, the Grand Chapter has repealed Article V, Section 13(b) of The Constitution and Bylaws of Theta Chi Fraternity, Inc. As a result of this action, the Grand Chapter has delegated the authority to regulate use or possession of alcohol within chapter houses to the host institution, property owners, and the active chapter, which is subject to all federal, state, and local laws. The Fraternity continues to encourage all chapters to maintain living facilities that are free of alcohol use, as it promotes a safe, clean environment that is conducive to academic achievement. The Fraternity also recognizes that for Alcohol-Free Housing to be successful, individual chapters must have ownership in the policy and provide enforcement at the local level.

All chapters and members must understand that this change does not affect their expected compliance with The Constitution and Bylaws of Theta Chi Fraternity, Inc., Theta Chi Risk Management Policies, or any policies of their host institution. Any chapter that applied for an Alcohol-Free Housing waiver for the 2010-2011 academic year will have its application fee refunded or applied to its outstanding balance owed to the International Headquarters. Prior to the opening of the 2010-2011 academic year, active chapters with housing should confer with their property owners to determine what policies will be adopted at the local level regarding use and possession of alcohol on chapter property. The International Headquarters staff is more than happy to consult with any chapter in crafting its local policies. 1.

4) Treasurer- David Stoltzfus for Jeremy Railing (has Blue Band)

1. Collections are great, due to the university collection funds. Brothers cannot schedule classes or graduate owing money to house.

2. Alumni now receive money from Penn State to pay all house bills. Chapter is given money to pay for none house operation money – as budgeted.

3. Been working with Chris Burke to bring financial books in order 4. See attached reports for more detail financial info

5) Other undergrads Officers: 1. THON – last year raised over $30,000. Goal this year is $40,000 and

are hoping alumni can help support THON a. THON Chairman will write something up for next Omegaphone

newsletter b. Omega’s THON child passed away several months ago.

D. Old Business

1. None

E. New Business 1. Proposal for creating scholarship by Tim Uhrich – see attached

proposal a. Discussion on what to give scholarship for b. Discussion as to who would handle scholarship – Penn State,

National or another organization c. Discussion on how to raise money. Ideal of selling alumni

brothers unused football tickets

2. Proposal to make national brothers who were involved with restaring chapter honorary Omega brothers – Tim Uhrich

a. Vote taken in support to encourage undergraduate chapter to make those 3 brothers Honorary Omega brothers - approved

F. For the Good:

1. Br. Richard Bartnik (and Mrs Bartnik for all the time, effort and things they have done for the chapter house and the brothers.

2. Happy birthday Jeff Ziggy Damcott

G. Adjourn: “It is to thee Dear Old Theta Chi”

Notes on Starting a Scholarship Fund for Omega Chapter

It is in the best interest of the Omega Chapter of Theta Chi Fraternity to establish a scholarship fund for the purposes of promoting academic achievement and fraternity engagement among its undergraduates. To this end, some notes and findings are offered below for the purposes of educating members on any potential decisions. 3 main options for starting a scholarship fund:

• Start  a  ‘foundation’  for  the  purposes  of  administrating  the  fund  +   No  administration  fees  +     No  min/max  to  start  or  to  reach  -­‐   Considerable  annual  work  in  monitoring  investments,  maintaining  tax  status,  audits,  and       creating  a  mechanism  for  distributing  the  money    

• Utilize  the  existing  foundation  provided  by  Theta  Chi  + Administered for published fees + $2,500 to establish the fund + Flexibility of funds – can be used to award academic scholarships, pay fees for attending

conferences, or other qualified educational expenses + Theta Chi Street Cred – contributions published in the Rattle, favorable

outlook from IHQ and Foudation Chapter

-­‐ Fund  has  clauses  which  force  the  continuation  of  fundraising  through  $25,000  in  fund    

- $5,000 minimum to start awarding • Utilize  a  third  party  foundation  such  as  one  offered  locally  or  through  the  

university  + Administered for published fees + Less accessibility to the funds or to re-allocating the funds -­‐  No  positive  response  for  this  from  University  or  from  Theta  Chi  -­‐ Both  investigated  options  had  minimum  fund  sizes  of  $10,000  

If the organization has grand intention with regard to a scholarship fund, it is possible to incorporate tax-deductible fund raising estimates into a general capital campaign. This effort would provide pathways for achieving a larger fund over a short period of time. It also would provide an educated guess at how much could be raised, from whom, and over what time frame. The easiest way to get a fund of this nature started without a capital campaign, is with a large initial donation or a matching-funds program. For instance, if the alumni organization was to pledge $2,500 in matching funds, parents of undergraduates and alumni could be solicited for donations with the allure of double their contribution. Or, finding an alumnus willing to make the initial donation and author a letter to that effect can be another powerful tool. The Theta Chi “Chapter Specific Scholarship Fund” has what is known as a sunset clause. Though it only requires $5,000 to start awarding scholarships, the fund is

designed to be in excess of $25,000. In accordance with that, there is a diminishing administrative fee as the fund approaches $25,000 (and a further reduction on the fee after $50,000). The administrative fee only applies to investment income and not to the principal. If in a given fiscal year there is no contribution to the fund prior to it reaching $25,000, the fund will “sunset” and require contributions of at least $1,000 a year until the fund reaches $25,000 or the money will revert in the general Theta Chi Scholarship Fund. The two most successful chapters (both of whom have raised in excess of $100,000) that I talked to said that they don’t mess around with fundraising events. They bring pledge forms and send reminders of pledges to alums and parents quarterly. Two newer organizations I talked to said that they are focusing on raising funds through annual events – one through a golf tournament, the other through a benefit dinner. Minimum scholarship awards through Theta Chi are $100.

Upcoming Calendar of events and due dates DATES EVENTS Oct. 20, 2010 Fall Newsletter Articles Due Date Nov. 10, 2010 Lapse Donor Mailer Sent Out Nov. 12-13, 2010 Mid-Year Leadership Conference

@ George Mason University and UMass Nov. 15, 2010 Fall Newsletter Mailed Dec. 1, 2010 Mail Holiday Cards Jan. 24, 2011 2011 Donors Kick-Off Appeal Jan. 20, 2011 2011 Spring Newsletter Articles Due

Date Feb. 15, 2011 Spring Newsletter Mailed Feb. 18-20, 2011 Dance Marathon Weekend May 5, 2011 Mail Anniversary Cards May 6, 2011 Theta Chi Golf Open May 20, 2011 2011 Summer Newsletter Articles Due June 9-12, 2011 2011 Deranian Presidents Conference June 15, 2011 2011 Summer Newsletter Mailed Aug. 1, 2011 Deadline to Buy house from National Aug. 4-7, 2011 2011 Deranian Presidents Conference Aug. 25, 2011 2011 Mid-Year Appeal Mailed Aug. 30, 2011 Nominations due for Alumni Board

Elections and Ballot Mailed Oct. 20, 2011 2011 Fall Newsletter Articles Due Date Nov. 15, 2011 2011 Fall Newsletter Mailed Nov. 15, 2011 2011 Lapsed Donor Appeal July 4-7, 2012 156th Anniversary Convention

in Palm Springs, CA