BIENNIAL REPORT 2014-2016
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DEAR BROTHERS AND FRIENDS: Enhancing the Theta Chi Experience and ensuring the long-term viability of Theta Chi were the major priorities of the Fraternity during the 2014/2016 biennium. As you will note in the pages ahead, the Fraternity enacted landmark initiatives, took steps to advance its existing programs, and strengthened infrastructure to ensure that future generations will enjoy the same benefits as our members do today. The Constitution and Bylaws of Theta Chi Fraternity, Inc. call for reports from the International President, International Treasurer, and Executive Director to be presented biennially to the International Convention. This report serves that purpose and will be presented to delegates at the 160th Anniversary Convention. This report contains information on the following areas of focus for the Fraternity: • • • • • •
Growth Chapter and Member Support Character, Influence, and Accomplishments Housing and Infrastructure Communications Fiscal Management
We hope you will find this report useful in understanding Theta Chi’s current condition. We hope it will inspire continued interest and become an impetus for your involvement in the ongoing success of our Fraternity.
Fraternally and Sincerely,
Richard D. Elder
International President
Herbert W. Morgan
International Treasurer
Michael J. Mayer Executive Director
FOREWORD
Theta Chi Fraternity, Inc. is a 501(c)(7) New York corporation registered in the state of Indiana. Our supreme governing document is The Constitution and Bylaws of Theta Chi Fraternity, Inc. The International Convention meets biennially and is composed of undergraduate and alumnus delegates from every active chapter. The board of directors of Theta Chi Fraternity, Inc. is known as the Grand Chapter. The members of the Grand Chapter are elected by the International Convention. The International President and International Vice President, who lead the Grand Chapter and the greater Fraternity, are elected by the International Convention. Theta Chi Fraternity maintains an International Headquarters in Carmel, Indiana and employs a professional staff of 31 employees. The International Headquarters is charged with leading and executing the strategic vision promulgated by the Grand Chapter as well as managing the day-today operations of the Fraternity. In addition to Theta Chi Fraternity, Inc., there are two other affiliated entities that support the work of the Fraternity. The Foundation Chapter of Theta Chi Fraternity, Inc. is a 501(c)(3) public foundation. The Foundation Chapter’s mission is to provide and develop financial resources to promote the academic, leadership, and service ideals of Theta Chi Fraternity. The Norwich Housing Corporation is a 501(c)(7) corporation that provides loans to Theta Chi house corporations. The goal of Norwich Housing Corporation is to help provide safe, clean residential living environments for Theta Chi’s chapters that are conducive to the ideals of the Fraternity. With the exception of financial information and other select data for comparison purposes, this report covers activities that have occurred between the close of the 158th Anniversary Convention on July 20, 2014, and this report’s publication date, June 30, 2016. The Fraternity’s incorporated entities operate on fiscal years commencing each July 1. As the 2015/2016 fiscal year has not yet been completed at the time this report was prepared, financial information covers the two prior fiscal years. Upon the completion and audit of the 2015/2016 fiscal year financials, an updated version of this report will be made available upon request.
GROWTH
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RECRUITMENT/MEMBERSHIP Theta Chi Fraternity once again experienced a record-breaking period for initiations during the 2014/2016 biennium. More men were initiated into Theta Chi between July 1, 2014 and June 30, 2016 than in any other two-year period in the history of the Fraternity. The Fraternity broke Theta Chi’s all-time record for men initiated in a single academic year during 2014/2015, initiating 3,256 men. While the spring 2016 data is still being finalized, it is projected that the final initiation figures for 2015/2016 will be 3,152, making it our second most successful year. As of April 10, 2016, Theta Chi maintained a collegiate membership of 8,187 members and pledges. Illustrations of Theta Chi Fraternity’s membership trends over the last decade are below. PLEDGED
INITIATED
2005/2006
1,972
1,622
2006/2007
1,947
1,740
2007/2008
2,281
1,937
2008/2009
2,410
1,951
2009/2010
2,503
2,063
3000
2010/2011
2,662
2,224
2800
2011/2012
3,071
2,668
2600
2012/2013
3,322
2,830
2400
2013/2014
3,452
3,019
2200
2014/2015
3,624
3,256
2000
2015/2016*
3,539
3,152
4000
3800
NUMBER OF MEN
3600
3400
Pledged
3200
Initiated
1800
2014/2015 - Record Year for Initiations
1600
2015/2016 - Projected second-most successful year for initiations 04-05
05-06
06-07
07-08
08-09
09-10
10-11
11-12 12-13
13-14 14-15 15-16*
ACADEMIC YEAR
The average chapter size was recorded at 58.5 during the spring of 2014, 60 during the spring of 2015, and 55.3 during the spring of 2016.
*Projected figures, subject to adjustment at close of fiscal year
UNDERGRADUATE MEMBERSHIP 2005/2006
4664
2006/2007
5026
2007/2008
5351
2008/2009
5480
The closure/suspension of four chapters at the 2009/2010 5726 conclusion of the 2014/2015 academic year, three 2010/2011 6086 of which traditionally maintained larger chapter 2011/2012 6741 sizes, has impacted 2015/2016 membership 2012/2013 7530 figures. Additionally, chapters suspended or 2013/2014 8131 expelled an additional 146 members during the 2014/2015 8520 2015/2016 academic year than during the prior 2015/2016 8187 year. While it is never desirable to suspend or revoke the charter of a chapter or suspend/expel a member, the Fraternity believes in maintaining high standards of quality men by holding nonperforming groups and members accountable. The Fraternity’s leadership is carefully monitoring membership trends to ensure Theta Chi is best positioned moving forward.
EXPANSION The Fraternity has and will continue to place priority not only on future expansion, but also on rebuilding non-performing chapters. Fourteen chapters were installed or reinstalled during the 2014/2016 biennium, which included the completion of the Iota series: • • • • •
Zeta/New Hampshire Omicron/Richmond Epsilon Eta/Indiana University of Pennsylvania (IUP) Zeta Psi/Western Illinois Eta Upsilon/Texas A&M
• • • • •
Theta Tau/Western Michigan Iota Phi/South Carolina Iota Chi/Binghamton Iota Psi/Rochester Institute of Technology (RIT) Iota Omega/SUNY-Cortland
• • • •
Kappa Alpha/Spokane, WA Kappa Beta/Long Island University-Post Kappa Gamma/North Florida Kappa Delta/University of Texas – El Paso (UTEP)
In addition, the Fraternity rebuilt the membership bases of the following chapters during the biennium: •
Beta Lambda/Akron
•
Iota Kappa/Northern Arizona
As of the date of this report, Theta Chi maintains 148 active chapters. The Fraternity enters the 2016/2017 academic year with 11 colonies, expansion sites, and active chapter rebuild efforts: • • • • • •
Alpha Lambda/Ohio State (expansion) Alpha Sigma Colony/Oregon Alpha Tau/Ohio (rebuild) Beta Iota/Arizona (rebuild) Beta Psi/Presbyterian (rebuild) Epsilon Delta/Youngstown State (expansion)
• • • •
Epsilon Mu Colony/Eastern Michigan Theta Psi Colony/Wisconsin – Oshkosh Iota Gamma Colony/Grand Valley State (rebuild) Salisbury University Colony
•
SUNY – Oswego Colony
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Theta Chi continuously seeks opportunities for new chapter expansion. The expansion selection process typically involves securing a formal invitation from a host institution. As many host institutions often do not issue expansion invitations until as late as 3-6 months prior to colonization, the list of future expansion sites is continuously growing. As of June 30, 2016, Theta Chi has secured future expansion invitations from the following campuses: SPRING 2017 •
Zeta Omicron/Shippensburg
•
SUNY - Geneseo
FALL 2017 • •
Gamma Mu/Bowling Green State University Beta Upsilon/Fresno State University
SPRING 2018 •
Columbus State University
FALL 2018 • • •
Delta Upsilon/Arizona State Beta Zeta/Michigan State Gamma Nu/New Mexico State University
FALL 2019 •
Delta Rho/NC State
FALL 2020 •
Alpha Beta/Pittsburgh
•
Epsilon Pi/Northern Illinois
CHAPTER AND MEMBER SUPPORT SACRED PURPOSE
At the close of the biennium, Theta Chi completed its third academic year with its health and safety initiative, Sacred Purpose. Rooted in the ideals expressed in our Fraternity’s Creed, Sacred Purpose advances Theta Chi Fraternity’s commitment to ensuring the health, safety, and protection of its members. Under the leadership of the Vice President of Health and Safety, each chapter is charged with sponsoring programming and practices designed to promote the health and safety of Theta Chi’s members and friends. Each year since its inception, chapters have progressively held an increasing number of educational programs for the benefit of its members and the campus as a whole: PROGRAM TOPIC
2013/2014
2014/2015
2015/2016
Alcohol/Drug Abuse Prevention
36
63
58
Mental Health
35
43
51
Sexual Assault Prevention
25
71
60
Fire/Life Safety
11
16
46
Hazing Prevention
0
9
32
Other
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TOTAL PROGRAMS
119
335
367
In 2016, Sacred Purpose was recognized by the North-American Interfraternity Conference (NIC) with the prestigious Laurel Wreath Award. The Laurel Wreath is presented to individuals or groups in recognition of unique programs, collaborations, or outreach that have advanced the mission of fraternity.
ADVISORY SUPPORT
The Fraternity believes that effective advisory support is an essential element of chapter success. As such, the Fraternity has proactively sought to recruit and train local advisers for its chapters. As of June 30, 2016, 95% of active chapters have at least one trained adviser. Eighty-three percent of chapters have three or more trained advisors. The recruitment and training of advisers will remain an ongoing and continuous process. During the 2014/2016 biennium, a total of 22 in-person volunteer training events were sponsored by the Fraternity at various locations. These include alumni programming at the 36th School of Fraternity Practices in 2014, the Summer 2015 Alumni Leaders Forum, and various Mid-Year Leadership Conferences/Summits. These 22 events collectively attracted 370 participants. Five volunteer-focused webinars were held during the biennium, with 104 participants.
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THE FOUNDATION CHAPTER OF THETA CHI FRATERNITY, INC.
The Foundation Chapter solicits tax-deductible contributions from alumni and friends of Theta Chi Fraternity. Those funds are invested and used to provide grants to the Fraternity and its members to underwrite its leadership and education program activities as well as to provide academic scholarships to deserving members in pursuit of a continuing education. The projected total net assets of The Foundation Chapter of Theta Chi Fraternity, Inc. as of June 30, 2016 is $11,977,418.54. During the 2014/2016 biennium, the Foundation Chapter provided $859,000 in support of the Fraternity’s education programs, communications, and academic scholarships. The Foundation Chapter also completed its largest fundraising effort to date with the completion of The Cornerstone Capital Campaign. The Cornerstone Capital Campaign raised $1,519,525 from 245 alumni representing 94 chapters. Funds raised from the campaign were placed in an endowment to ensure that every chapter President can attend the Fraternity’s annual Presidents Conference every year. In honor of Cornerstone’s lead donors, the Presidents conference was renamed for Bob and Pam Sasser and officially became the Sasser Presidents Conference in January 2016. Brother Bob Sasser is an alumnus of Theta Chi’s Gamma Rho Chapter at Florida State University and is CEO of Dollar Tree. The Fraternity is most grateful to all of the participants in the Cornerstone Capital Campaign.
INTERNATIONAL/REGIONAL EDUCATIONAL EVENTS SASSER PRESIDENTS CONFERENCE
The Sasser Presidents Conference is Theta Chi Fraternity’s premier educational event. The event, hosted every January, is designed to provide our Chapter Presidents with the skills they need to lead their chapters to success. Attendance at the Sasser Presidents Conference is mandatory for all Chapter Presidents. The event is for Presidents only and substitutions are not permitted. As a result of the generosity of donors to the Cornerstone Capital Campaign, all registration and lodging is funded by the Fraternity. In addition, each Chapter President is provided with a transportation stipend. In 2015, 96% of Theta Chi’s Chapter Presidents attended the Presidents Conference. In 2016, 98% of Chapter Presidents attended the conference.
THETA CHI INITIATIVE ACADEMY
The Initiative Academy’s main purpose is to inspire and equip the next generation of leaders in Theta Chi. This event is unlike any other offered by the Fraternity. It is not an officers’ conference, nor is it a chapter operations school. The Initiative Academy is designed for the unique needs and perspectives of our emerging leaders. From day one, participants engage in challenging exercises that are designed to provide them with growth and confidence. They are challenged to think quickly, solve problems, create strategies, make decisions, debate ideas, learn more about themselves, and define their personal values and mission. During the summers of 2014 and 2015, the Eta, Theta, Iota, and Kappa classes were held at our Alpha Iota / Indiana University chapter house. A total of 217 men attended the Initiative Academy this biennium.
MID-YEAR LEADERSHIP CONFERENCES & SUMMITS
The Mid-Year Leadership Conferences and Summits were held annually in the spring on campuses and cities across North America. During these weekend events, attendees had the opportunity to interact with Theta Chi brothers from nearby chapters, learn basic Fraternity operations, and practice leadership skills. In addition, at city-based Mid-Year Leadership Summit locations, receptions for local alumni were held to provide the opportunity to reconnect with Theta Chi and our collegiate members. A total of 1,388 members attended the 2015 Mid-Year Leadership Conferences. One thousand two hundred and eighteen attended the 2016 Mid-Year Leadership Conferences/Summits.
RECRUITMENT BOOT CAMP
The Recruitment Boot Camp program, held annually in conjunction with the Sasser Presidents Conference, provides an intense curriculum designed to help chapters and colonies succeed at recruitment. One hundred thirteen members attended the 2015 Recruitment Boot Camp. One hundred twentythree members attended the 2016 Recruitment Boot Camp.
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NORTH-AMERICAN INTERFRATERNITY CONFERENCE (NIC) Founded in 1909, the North-American Interfraternity Conference (NIC) is the trade association representing 70 inter/national men’s fraternities. Theta Chi became a member of the NIC in 1912. In 2015, a group of leading NIC fraternities, including Theta Chi, came together to develop and enact a number of landmark reforms designed to enhance the fraternity experience and increase standards and accountability among member organizations. The reforms became colloquially known as NIC 2.0. Key components of the NIC 2.0 reforms include: •
Creating an effective support program for Intefraternity Councils (IFCs)
•
Developing consistent educational programming for all IFC officers, staff, and volunteers
•
Creating a database that allows members to make data-driven decisions, share best practices, and streamline operations
•
Leading a sophisticated public relations effort to advance the “Fraternity brand”
•
Producing effective advocacy programs that strengthen higher education partnerships and utilize governmental and legal affairs
Theta Chi currently holds a seat on the NIC’s Governing Council. More information regarding NIC 2.0 can be found at www.nicindy.org
CHARACTER, INFLUENCE, AND ACCOMPLISHMENTS ALTER AWARD RECIPIENTS
The Howard R. Alter, Jr. Award is the highest honor that can be bestowed upon an active chapter. Those recipients of the Alter Award have achieved excellence in every area of chapter operations. The 2014/2015 Alter Award recipients were: • Theta/Massachusetts
• Iota Beta/Missouri State
• Beta Delta/Rutgers
• Iota Lambda/Longwood
• Epsilon Kappa/Idaho
• Iota Sigma/Towson
The 2015/2016 Alter Award recipients will be announced at the opening of the 37th School of Fraternity practices. Of particular note, in 2016, Iota Beta Chapter at Missouri State University was presented with the North-American Interfraternity Conference’s (NIC) Chapter Award of Distinction. The Chapter Award of Distinction recognizes the most outstanding chapters among all national/international fraternities. Impressively, this is the fourth time Iota Beta has received this recognition.
THE RESOLUTE MAN
The Resolute Man, Theta Chi Fraternity’s new education and recognition program, was officially launched in 2016. The Resolute Man represents the future of Theta Chi Fraternity. For the first time in our history, Theta Chi is defining the desired outcomes of membership in a measurable fashion. The initiative will provide collegiate members with a road map to get the most out of their Theta Chi experience. It will also prove a useful tool in explaining to our external stakeholders (parents, college/university administrators, potential members, etc.), the leadership skills and knowledge Theta Chi imparts to its members. The Resolute Man outlines the basic requirements for an individual to pledge the Fraternity and the requirements for initiation. Most excitingly, it illuminates a path by which initiated members can achieve a new distinction within Theta Chi Fraternity – The Resolute Man. Those collegians who complete the requirements for The Resolute Man will participate in a new Ritual ceremony during his final academic term. During this ceremony, he will receive the insignia of The Resolute Man: a diamond-shaped guard that attaches to his Badge. For more information regarding The Resolute Man, visit www.thetachi.org/resoluteman
USO PHILANTHROPIC PARTNERSHIP
Theta Chi has maintained an international philanthropic partnership with the USO since the 2013/2014 academic year. A very encouraging number of chapters have responded to the call to support the USO and have hosted numerous service/philanthropic activities, often titled “G.I. Theta Chi.” During the 2014/2016 biennium, our chapters have self-reported raising $302,937.68 and offering 41,371 man hours in volunteer service
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ACADEMIC AND GRADUATION RATES Remaining true to the Fraternity’s Maxim of “Alma Mater First, and Theta Chi for Alma Mater,” Theta Chi places a high emphasis on academic success. A key indicator of that success is each of our chapter’s grade point averages (GPA) compared to the all-men’s GPA on the respective campus. The following table shows the percentage of Theta Chi chapters above the all-men’s grade point average on their campus by semester: •
Spring 2014 – 49%
•
Fall 2014 – 50%
•
Spring 2015 – 56%
•
Fall 2015 – 61%
Theta Chi began tracking its undergraduate member’s graduation completion rate beginning in the 2010/2011 academic year. Based upon that five-year tracking data, 74.6% of men initiated into Theta Chi Fraternity during the 2010/2011 academic year graduated from college as reported by their chapter. The National Center for Educational Statistics tracks a six-year graduation rate and reports the national average for male college students of 56%. At the conclusion of the 2016/2017 academic year, Theta Chi will have its first true six-year graduate rate to more accurately compare the graduation rate of its members against the national average. Based upon the data gathered thus far, it appears that the Theta Chi graduation rate is at least 18% higher than the national average.
CHARACTER, INFLUENCE, AND ACCOMPLISHMENTS ENFORCEMENT OF STANDARDS
CHARTER RETIREMENT
Three chapters failed to maintain the standards of Theta Chi Fraternity, their academic institution, or both during the 2014/2016 biennium and had their charter revoked: •
Delta Rho/NC State
•
Delta Upsilon/Arizona State
•
Eta Zeta/Edinboro University
The charter of our Iota Rho Chapter at Southern Polytechnic State University was retired in 2015. The academic institution was merged into Kennesaw State University, where Theta Chi already maintained a chapter. As a result, the membership of our Iota Rho Chapter was absorbed into our Theta Epsilon Chapter at Kennesaw State University.
HOUSING AND INFRASTRUCTURE
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NORWICH HOUSING CORPORATION The Norwich Housing Corporation, formerly known as the National Board of Trustees (NBT) is one of the oldest fraternity housing corporations within the fraternal world. The funds held by the Norwich Housing Corporation are used to provide mortgage loans to local house/alumni corporations for life safety, renovations, new construction, refinancing, emergency housing issues, and funding alumni/ volunteer education. The Norwich Housing Corporation is a nonprofit 501(c)(7) corporation that provides loans to Theta Chi house corporations. The goal of the corporation is to help provide safe, clean residential living environments that are conducive to academics and the ideals of Theta Chi Fraternity.
NHC PROJECTED TOTAL NET ASSETS: NHC LOANS:
$9,113,680 as of June 30, 2016 Theta/Massachusetts Sigma/Oregon State Tau/Florida Omega/Penn State Alpha Delta/Purdue Alpha Nu/Georgia Tech Alpha Sigma Colony/ Oregon Alpha Psi/Maryland
LOANS FUNDED SINCE 2014 CONVENTION:
Beta Upsilon/Fresno State (inactive chapter) Gamma Theta/San Diego State Gamma Xi/San Jose State Gamma Phi/Nebraska Wesleyan Delta Beta/Georgia Delta Phi/North Texas
Eta Omicron/Northwestern State - Purchase Eta Omega/Chico State - Cash Out/Refinance Gamma Xi/San Jose State - Life Safety
NHC BASE INTEREST RATE:
7.50%
LOWEST AVAILABLE RATE:
5.75%
TOTAL AMOUNT IN OUTSTANDING LOANS:
Zeta Xi/UC-Davis Eta Omicron/ Northwestern State Eta Phi/Oakland Eta Omega/Chico State Theta Eta/Sam Houston State Iota Lambda/ Longwood
Gamma Theta/San Diego State - New Construction
Delta Kappa/Ball State - Ladue (Paid)
LIFE SAFETY LOAN RATE:
Epsilon Psi/NJIT
3.0% $5,352,862
COMMUNICATIONS
REBRAND & VISUAL STANDARDS UPDATE
Throughout 2015, Theta Chi Fraternity worked closely with RHB, an Indianapolis-based marketing and design firm, to refresh our various logos and themes. Most of the visual elements utilized by the Fraternity in recent years were developed in the 1990s and have been long-overdue for an update. As evident throughout the 2014/2016 Biennial Report, the new look evokes a modern and dignified design while also utilizing our classic imagery.
THE RATTLE
The Rattle is Theta Chi Fraternity’s official magazine. It has been published for over 104 years. The Fraternity has made significant strides in increasing the printed distribution of The Rattle during the 2014/2016 biennium. Circulation statistics from the 2014/2016 biennium are provided below:
SOCIAL MEDIA & THETA CHI ONLINE
ISSUE
PRINT ELECTRONIC CIRCULATION CIRCULATION
Fall 2014
3,276
35,873
Spring 2015
93,208
36,061
Fall 2015
94,507
44,312
Members and visitors are invited to connect with Theta Chi at any time via our various digital mediums: WEBSITE: www.thetachi.org FACEBOOK: www.facebook.com/thetachiihq LINKEDIN: www.linkedin.com/company/theta-chi-fraternity TWITTER:
@ThetaChiIHQ
INSTAGRAM: @ThetaChiIHQ SNAPCHAT: thetachi_ihq
FISCAL MANAGEMENT
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Theta Chi Fraternity, Inc. engaged the audit firm of Blue & Company, LLC of Carmel, IN for fiscal years 2013/2014 and 2014/2015. The reports were delivered during the 2014/2016 biennium. The accompanying management letter from these reports for fiscal years 2013/2014 and 2014/2015 showed no significant difficulties in performing the audits and no disagreements with management in regards to financial accounting, reporting, or auditing.
T H E TA C H I F R AT E R N I T Y, I N C . Statement of Financial Position Years ended June 30, 2015 and 2014 (Pro-Forma)
ASSETS
2014
2015
$1,608,684
$1,509,152
1,735,197
1,806,307
59,042
57,295
Administrative Fees due to Theta Chi, Inc
221,193
124,410
Prepaid Expenses
250,933
245,341
24,934
32,884
144,812
144,812
2,546,858
2,556,165
6,591,653
6,476,366
79,244
35,552
135,144
150,336
35,188
102,563
216,913
126,390
1,786,264
2,327,011
2,252,753
2,741,852
Unrestricted
2,534,987
2,188,760
Board Designated
1,803,913
1,926,376
0
20,000
4,338,900
4,135,136
$6,591,653
$6,876,988
Cash and cash equivalents Investments & Limited Investments Accounts Receivable
Inventories Capital Contribution for Insurance Membership Property, Furniture and Equipment TOTAL ASSETS
LIABILITIES AND NET ASSETS Accounts payable Accrued expenses and other liabilities Deferred Registration Fees Self Insured Retention Accrual Mortgage Note Payable TOTAL LIABILITIES
NET ASSETS
Temporary restricted TOTAL NET ASSETS
TOTAL LIABILITIES AND NET ASSETS (Continued on Next Page)
FISCAL MANAGEMENT
T H E TA C H I F R AT E R N I T Y, I N C . Combined Statements of Activities Years ended June 30, 2015 and 2014 (Pro-Forma)
REVENUES AND SUPPORT: $1,040,315
980,990
Chapter Assessments
1,070,250
1,011,375
Program Assessments
1,200,296
1,117,330
Administrative Reimbursements
346,877
305,132
Grants (Foundation Chapter)
120,000
90,000
Registration Fees
131,013
19,975
44,924
36,687
Rental Income
138,000
88,353
Royalties & Other Income
138,604
82,576
20,000
11,725
4,250,279
3,744,143
1,191,649
1,020,645
Chapter Services & Expansion
247,570
226,831
Conferences
397,632
369,330
81,111
41,153
Grand Chapter
215,256
153,915
International Headquarters
254,296
236,620
1,596,913
1,578,265
29,690
31,602
4,014,117
3,658,361
Change in net assets before unrealized gain on appreciation of investments
236,162
85,782
Realized & Unrealized gain (loss) on investments
(12,398)
120,341
Changes in Temporarily Restricted Net Assets
(20,000)
(11,725)
Changes in net assets
203,764
214,398
$4,338,900
$4,135,136
Alumni & Undergraduate Membership Fees
Interest, Dividends & Realized Gains
Net assets released from restrictions TOTAL REVENUES AND SUPPORT
EXPENSES Insurance Program Services
Communications Management and General
IHQ Administration Other TOTAL EXPENSES
NET ASSETS, END OF YEAR
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INTERNATIONAL HEADQUARTERS PO BOX 503 | Carmel, IN 46082 Phone: 317-848-1856 | Fax: 317-824-1908 E-Mail: ihq@thetachi.org
WWW.THETACHI.ORG