CFI Frequently Asked Questions
How did the Capital Fundraising Initiative get started?
The first Capital Fundraising Initiative (CFI) started almost by accident during the 2004 alumni golf outing, when three brothers committed to each other they would contribute a combined $20,000 over the next five years to help ensure Epsilon Gamma would have the financial resources needed to make improvements to the chapter house and provide experiential learning scholarships for the undergraduate brothers. The first campaign ended in 2010, the current campaign will run from 2010-15. What are the goals of the CFI?To raise a minimum of $50,000, half of which will be used to fund 2010-15 house improvements. — the other $25,000 will be used to fund experiential learning sponsorships, academic scholarships, chapter events and communications. I’d like to contribute but am not in a position to give at the amounts listed in the brochure. Can I help?Yes. All contributors to the CFI from 2010-15 (other than those wishing to be “anonymous”) will be recognized on a plaque that will hang in the chapter house. Those who sponsor a room will get a bronze plaque mounted next to their sponsored room in the house. Annual pledges or one-time gifts of any amount are welcome and appreciated. All gifts of this type will be combined and applied to house improvements and experiential learning sponsorships or scholarships equally. Is my donation tax deductible?Donations to the Central Michigan Fund at the Beta Theta Pi Foundation are tax deductible. Donations for house improvements or chapter/alumni activities are not tax deductible. Will I receive a reminder when my CFI payments are due?Yes. You will receive a reminder along with instructions about who to make your check payable to and where to send it — depending on the type of donation you’ve chosen. What rooms are available in the house for sponsorship?Contact Scott Nadeau at scott.nadeau@epsilongamma.org. He will send you a floor plan of the house noting the available rooms. Are there other things that can be sponsored?Yes. If you have a strong desire to sponsor something you do not see mentioned above contact Scott Nadeau at scott.nadeau@epsilongamma.org. What happens after 2015? Does my name come off the room I sponsored?No. The room sponsorships will remain as long as our chapter resides in the current house at 814 South Main Street. Leadership experience sponsorships and academic scholarships will need to be renewed every five years. Can my gift be “anonymous”?Yes. Simply note this desire on your check or Letter of Intent. Why are we putting so much money into a house we plan to tear down?At one time in the 1980s and 90s, we had a grand plan to tear down the house and build a new one in its place by the year 2020. In the year 2020, we might tear down the house and build a new one — we might not. In 2020, the climate may be such that we decide to sell the house and use the money to acquire different property to build on. In 2020, we may not have the money we need to tear down and build new — so we might have to settle for a major renovation and/or an addition to the present house. Whatever the future holds for our chapter and our chapter house, we need to maintain the present structure in optimal condition until these things are decided for certain. Our chapter house was built in 1914. The house was occupied by individual families until 1937. Since 1938, an average of 14 college students has lived in the structure each school year including two fraternities and one sorority. The house had gone through major renovations at least twice prior to our acquisition of the house in 1987. The house is 4,944 square feet with 3 & 2-1/2 baths (including the basement.) From 1987 to 2002, all rent collected went directly to paying down the bank loans and taxes for the house and performing minor maintenance and repairs. Large items such as a hot water heater and bathroom renovations were covered in many cases by the undergraduate chapter through dues, house fees, etc. Major repairs — such as a new furnace, and fire inspections that required major repairs were paid for by alumni gifts made on an emergency basis. In 2002, the original bank loans for the chapter house were paid in full. We borrowed $55,000 to make major improvements to the safety and structure of the house as required by the city fire inspector. A portion of the $55,000 was used to replace original windows, the original roof and to cover the original wood siding with vinyl siding. In 2005, we borrowed an additional $110,000 to perform major renovations to the interior of the chapter house to ensure a safe, comfortable environment for the new undergraduate chapter to move in to. In 2010, we consolidated our equity loans (Less than $150k total) into one with the goal of paying it off by 2020. Today, our chapter has by far the nicest fraternity house and one of the most perfect locations on Main Street. All things considered, we can be very proud of the sweat equity, the financial stewardship and the thoughtful consideration of so many brothers in our chapter’s short history relative to the chapter house and the advising of the chapter. What happens to all of this money if the chapter closes again?Short-term or “temporary” closure: In the unfortunate event the Chapter would have to close again, it is hoped that the advisors and housing corporation board would work with the University (as was done in 2002) to create a plan that would allow us to re-colonize a couple of years later. In this case, the housing corporation is charged with maintaining the house in anticipation of the new colony moving in the next school year after it is organized. House improvements may continue during this time; experiential learning sponsorships and academic scholarships will be awarded to members of the new colony. Long-term or “permanent” closure: Should the Chapter ever be closed by the University or the City for something so severe that it is deemed a “permanent” closure, the housing corporation has an Asset Allocation plan in place in its by-laws. In short, if the Chapter were “permanently” closed, the housing corporation will seek written clarification of the definition of “permanent.” If it is determined by the housing corporation board that actual minimum length of the closure is greater in years than is realistically feasible to maintain the house, the housing corporation will sell the house. (This is consistent with the mission of the housing corporation — to provide a safe, comfortable environment for the undergraduate members of Epsilon Gamma — NOT to be in the real estate/leasing business in Mt. Pleasant.) Any proceeds from the sale of the property will be put into the Central Michigan Chapter Fund of the Beta Theta Pi Foundation. The Foundation will hold the money until such time when Beta Theta Pi is allowed to return to Central Michigan University. At that time, the money may be used to purchase a house for the new colony. If, after 25 years of permanent closure, there is still no chance of returning to the University, the monies in the Central Michigan Chapter Fund will be released to the Foundation to support other good works of the Fraternity. Note: This F.A.Q. is not intended to be exhaustive — it simply reflects the questions we have received to date. If you have a question about the Capital Fundraising Initiative that you do not see answered here please contact Scott Nadeau at scott.nadeau@epsilongamma.org. | 
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