Page 3 - Delta Delta Delta - Texas Tech - Advance Packet
P. 3
Frequently Asked Questions
Why are we conducting a capital campaign to build a new lodge?
By constructing a new state of the art facility in place of the #13 Greek Cir. lodge we are not only positioning
ourselves for the future of the chapter, but also remaining competitive among the other sororities on campus
who have already begun updating and replacing their chapter lodges. This capital campaign will ensure that
the necessary funds are available to make this project possible.
What are the costs associated with the project?
The total cost for building our new lodge is estimated to be $2,360,000. We have currently set a fundraising
goal of $1,000,000, which will be paired with a bank loan to retire existing debt and finance the entire project.
Why don’t we renovate the existing lodge instead of building new?
Although renovating the existing structure was an option, we have come to the conclusion that the best course
of action is to move forward with constructing a brand new facility for the sorority. This new structure will be
commercial grade and designed with long term needs of the chapter in mind.
How long are pledges to the campaign payable?
Pledges to the campaign are made over a five year period. If you desire you can do it in a shorter period of
time and that’s welcome because it helps with cash flow and accelerates the project start date. But, we need
each sister to make the very best stretch pledge possible over the five year period.
Will my donation be tax deductible?
Due to IRS Tax Laws, we are unable to make all donations tax deductible – only portions of the lodge that are
deemed “educational space” are tax deductible. To ensure we are able to use all donated funds efficiently and
effectively we have set a tax deductible threshold. All pledges of $2,500 and greater, made over 5 years, will
be tax deductible, to the extent allowable by law, and can be routed through the Tri Delta Foundation.
What if I am unable to make a pledge of $2,500?
Donors pledging less than $2,500 over 5 years will make their payments directly to the Phi Eta House
Corporation Board. These funds will be deposited into the House Corporation account and used to pay for
non-educational portions of the lodge. All gifts will be recognized in a consistent manner
How can I make a gift?
Gifts may be made by cash, check, credit/debit card, or stock.
