Page 3 - Gamma Theta Fall 2014

Frequently Asked Questions (Continued)...

systems, as well. This house will provide our to charge around $750 per month, knowing a professional property manager that will
Undergraduate Brothers with the necessary they have room to charge more and remain deal with leasing, move in/move out, security
tools to succeed as a student at today’s SDSU. competitive. deposits, etc. They recognize the importance
What will the new house cost? What efforts are being made to of a well-managed property and have included
an on-site management apartment for a
Our total project cost is around $3.85 maintain a high membership Resident Manager (or House Mother/Parent).
standard?
million, including legal, architectural,
permitting, and fundraising fees, as well as Our Undergraduate Chapter is doing very How will my gift be recognized?
furnishing, kitchen, laundry, appliances and well. We took on a record setting pledge
All Building for Our Future gifts will be
accessories. class of 47 in September 2013, and have a recognized by Gamma Theta in publications
How will the new house be paid tremendous amount of support, leadership, sent throughout the campaign. All gifts will
and oversight provided by our alumni advisors
for and sustained? and Board of Trustees. be categorized into various giving societies
Gamma Theta enters this project in a solid What happens if the chapter is and pledges of $1,000 or more (payable
fnancial situation, but the success of this unable to fll all the beds in the over a period of 5 years) will be featured on
capital campaign will play a large role in a permanent recognition display wall in a
ensuring our future fnancial stability. Costs house? place of prominence in the new Gamma Theta
T?
for real estate taxes, utilities, insurance, and The house holds 40 brothers. So, the chapter house. Various gifts of $10,000 or more will be
building repairs and maintenance will be needs to be at least 50 brothers, and ideally eligible for dedication opportunities (relative
our responsibility, and our pro forma takes between 60 - 80 to comfortably make sure to the size of the gift) in the new house.
these necessary expenses into account. We’ll the house is full. But, the house is designed
be fnancing the project through a pair of in such a way that if, for whatever reason, the To whom should I make out my
mortgages. The frst will be for over half of chapter can’t fll the house, then sections can check?
the total project cost, and the second, which be closed off and rented to other students. As
will be through Theta Chi’s Norwich Housing it stands, Gamma Theta is currently a chapter • Checks for pledges should be made
Corporation, will be for $1 million. Our of over 100 young men. payable to “Gamma Theta Alumni
chapter’s income comes through the accrual of Association.”
rent payments from those living in the house. How are we going to manage the • Please mail pledges and payments to:
The average rent price for an undergraduate property?
on campus is over $800 per month, and our Gamma Theta Alumni Association
fnancial projections show us breaking even if The alumni board intends to run the P.O. Box 80828
we charge $550 per month. The board intends property like a business, and intends to have Atlanta, GA 30366
T? Project Timeline

October June Homecoming
Save the August September 2013 May 2014 Fall 2015
2013
Date 2013 2014 2015

San Diego
Founder’s Day Gamma Theta Capital Construction House

Banquet Re-Chartering Campaign on New House Dedication
Begins
Begins
Ceremony
Gamma Theta Current Construction
April 11, 2014 Recruits Largest Property on New House
Pledge Class (47) in Razed Completed &
Chapter History Chapter Moves in
Details to Follow