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Financial Obligations

It is important for chapters to continue monitoring and planning for the financial impact caused by the disruption of normal operations.

While a delay or cancelation of philanthropic, community service or social activities of the chapter might reduce or delay certain expenses, there are other costs associated with a chapter’s operations – and a chapter house – that will continue whether a chapter is operating normally or not. Further, a postponement or cancelation of activities could result in unexpected costs. It is important that chapter officers, with the assistance of advisors, consider these financial matters , and plan accordingly.

Chapter officers and alumni advisors – working with the house corporation, if applicable – should actively monitor, and update as may be necessary, the chapter budget, in a hierarchical manner, to first account for fixed operational costs and then for variable expenses.

The fixed operational costs of the chapter will include…

- Dues and fees to the local IFC and college or university.
- Dues, fees, and assessments to the General Fraternity, such as:

  • Initiate Dues.
  • Risk Management Assessments.
  • Conclave Fees.
  • Candidate and Initiation Fees.

- Other items the chapter may be contractually obligated to pay.
- If applicable, items paid in support of the chapter’s home such as parlor fees, facility services, etc.

Plans for the continued payment of fixed operational costs during any period of disruption should be confirmed to maintain essential services, including insurance coverage and utilities.

Alternatively, a chapter’s variable costs may change due to a disruption in regular activities. Such variable costs are most often related to activities and events, including philanthropic, community service, and social activities and events.

Chapter officers and alumni advisors should confirm all such planned activities and events and evaluate whether the activity or event will need to be canceled or postponed. If cancelation or postponement is necessary, any contractual or other agreements related to the activity or event should be reviewed. Outreach should be made to all parties, including vendors, to discuss options for rescheduling or canceling the activity or event, in a way that minimizes cost to the chapter.

Chapters should maintain their dues structure and the collection of dues during any period of disruption. Only after careful consideration by the chapter officers and alumni advisors should any adjustment be made to the dues structure, and only to the extent that certain variable costs will no longer be incurred by the chapter due to cancelation.

Communication with all chapter members regarding these financial plans will be key to ensuring their understanding while positioning the chapter to promptly restore full operations as soon as possible.

© 2015-2022 Sigma Nu Fraternity, Inc.
9 North Lewis Street, P.O. Box 1869, Lexington, Virginia 24450
Phone: (540) 463-1869 | Fax: (540) 463-1669 | Email: headquarters@sigmanu.org

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