You remember what it's like to be poor and humble, don't you? Now that you're neither, please help out the men who are just starting the journey you've been doing so well on.
There are three ways you can help out:
1) Automatic monthly withdrawls via EFT (electronic funds transfer)
2) One-time donations via personal check mailed to Paul
3) One-time donations via credit card through Paypal (on the internet)
Donations will help DU establish permanent roots on the U of M campus. We are hoping to purchase a permanent house for the Chapter, offer substantial scholarships to attend DU conferences, and finally to have a healthy slush fund for the current needs of the alumni and undergrads as they may arise. (Newsletter, furniture) But we need all the help we can get. (See more details below)
Over the past several years, Minnesota alumni have met on a monthly basis in order to move towards the goal of home ownership. To do so, we've focused on three main areas: 1) Supportive Memberships 2) Scholarships 3) House Fundraising We recently reviewed these areas and have now set up for your convenience the pay On Line or scheduled withdrawals from your checking account.
Please read on and set up your contribution plan.
The Delta Upsilon Housing Fund account has been established. But don't let the name fool you. It is for of the purposes listed above: 1)Supportive Memberships; 2)Scholarships; and 3) House Fundraising.
Donation Options
Automatic Transfers can be accomplished by using the attached form. Anyone can set up a periodic payment into this account.
Requirements:
- Only a checking account can be used.
- Signature - both husband / wife must sign, if using joint account.
- Date by each signature.
- Attach a voided check
- Amount to be debitedf
- Amount directed towards each purpose can be written anywhere on form (i.e. $5 to Supportive Membership, $5 to Scholarships, $10 to House Fund ; or $10 to Scholarships and nothing else)
- Date of the month to be debited
- Frequency of debit
- $10 minimum donation
Download and print off the Automatic Donation Authorization Agreement Form.
Send the completed forms to :
Paul Humphrey
Securus Wealth Management, LLC
401 South First Street, #1702
Minneapolis, MN 55401
One-time donations by check can also be sent to Paul at the address above.
One-Time Internet Donation Via Paypal
Being that it's the Inernet Age, we went ahead and set up a paypal account too. You can make one-time donations using the following link
Further Details
1) Supportive Membership We recognized a need to reestablish relations with Minnesota alumni. We started by reaching out to those alumni who had not been in contact with the Minnesota Chapter in recent years. Next, we started holding monthly alumni gatherings and increasing the communication with alumni via newsletters and phone calls. Most recently, the committee completed a massive update of our contact lists to make sure that we can reach as many of you as possible. Alumni are the backbone of any strong chapter and typically have a strong hand in both the procurement, ownership, and stewardship of chapter facilities. Possible expenditures: Newsletters, assist chapter operation small needs, social events when necessary.
2) Scholarship Program - We offer several scholarships. The Tom Virnig and the Rick Bennett scholarships. Both could become even more generous from this supportive category. We also find that The Leadership Conference, Winter Education Conference, are two areas that we could send more participants to if we had funding to aid in airfare and tuition where necessary. We usually send at least 2 members to each of these valuable opportunities to bring back enthusiasm and ideas for a stronger Minnesota DU.
3) Housing Fundraising - The committee has worked diligently to understand the income and expenses of the chapter and to develop a financial proforma that considers long term operating expenses. The committee began exploring both the needs of the Chapter and those of modern students. We felt that the current house fits most of our critical needs and has the ability to meet them all once owned. Of course, no repair can be done without money so the next step was to explore finances.
The committee hired a commercial appraiser to study the house and deliver a report along with a purchase estimate. The committee then took an inventory of all upcoming maintenance needs and developed a long-range schedule of anticipated replacement expenses. There are certain upgrades such as life safety and electrical that can be made to bring the house into conformity with students' and the chapter's needs.
The great news is that owning the chapter house will provide DU with enough money to easily afford a mortgage and to put away ample dollars for future repairs and improvements. The committee has also worked with several local banks to understand the lending requirements for a chapter house purchase. Even though there is more than enough cash flow to support the purchase, the biggest hurdle is to deliver a down payment.
From the beginning, discussions with local lending institutions have led us to believe that a 20% down payment is needed to purchase a chapter house. Of course, the recent economic downturn has tightened the lending markets and raised the possibility of needing a larger down payment, but our ongoing relationship with potential banks and a stabilizing economy should help keep that requirement around the 20% mark. If so, then the alumni need to have approximately $110,000 for the down payment. Over the years, undergraduate members (including myself) have been contributing their hard-earned money towards a housing fund. There is more than $20,000 in that account that will be combined with alumni donations to purchase the house. In addition, we already have several alumni who have pledged to donate a good portion of the remaining down payment. Our fundraising campaign started at the Rick Bennett Memorial Poker Tournament a year ago when we mail off letters to each and every one of you, asking for you to consider contributing to the effort. We wanted each alumnus to help bridge the gap to our down payment goal. It would take both large and small donations to reach that goal and we sincerely hoped that you could help in some capacity. Since then, the campaign did not seem to be the right thing at the right time.
Now with a change in our appoach, we are hoping that your support and enthusiasm will be shown via our website and options to contribute.
We still are hoping a miracle will happen and several financially secure alums will come forward with most of the down payment we will be needing.
We also hope that funds will come in for the above Scholarships and Supportive Memberships.
Consider an amount that you can easily contribute (be it $10 or $50 or $5,000 whether monthly, semi monthly, or yearly) and then see if you can find the courage to donate a little more. Every dollar will help ensure a legacy for DU in Minnesota. This is a legacy that started in 1834, was brought to the University of Minnesota in 1890, and has been continued by each one of us ever since. We look forward to hearing from each one of you over the next several months.
-Andy Kahn MN DUAC -President
Why Purchase When Leasing Has Sufficed?
- - You pay a premium to lease facilities and they are rarely maintained up to a fraternity's standard; money is better spent on facility enhancement and building better men.
- - House ownership provides chapter security for years to come. Ownership encourages better maintenance and care for the facilities
- - Successful chapters need permanent housing to encourage membership growth.
Aren't Fraternities Declining In Membership?
- - Some fraternities are declining but Delta Upsilon is finding ways to expand.
- - After a few years to the contrary, the UMN Greek system is growing again. Membership in fraternities and sororities tends to run in cycles.
- - Greek institutions around the nation are finding better ways to espouse their values and attract new members to their organizations.
Does the University of Minnesota Support Greek Life?
- - The UMN does support Greek life.
- - Vice Provost Jerry Rinehart wrote a letter to Delta Upsilon stating the University's commitment to the Greek system and support of Greek life.
- - A Greek Partnership agreement was struck a few years ago between Greek Alums and the UMN.
- - A Greek Village concept has been fostered by both the University and Greek organizations.
How is the Minnesota Chapter Doing?
- - Active membership is in the twenties, on top of that are new recruits, and the chapter house is at full capacity.
- - The undergraduate leadership is filled with smart, mature men that have the enthusiasm and character to lead Delta Upsilon into the 21st Century
- - The Chapter has strong academics, strong intramurals, and a strong brotherhood.
What's Needed To Purchase A House?
- - A down payment for a home mortgage; approximately 20% of purchase price.
- - The estimated purchase price has been estimated and is currently being negotiated with the property owners.
- - A well-planned financial plan for long term operations is available upon request.
What Can You Tell Me About The House Being Considered For Purchase?
- - We want to purchase the current house located at 1011 4th Street SE, Minneapolis, MN. Some of the property information is listed below:
- - 7,000 sf GBA; built in 1950
- - 16 Bedrooms; 18 Person Capacity
- - 15 Parking Spaces
- - 2006 Assessed / 2007 Payable Tax Assessment: $6,041
- - Land: $203,300
- - Bldg: $161,200
- - Total: $364,500
A thorough property evaluation was undertaken to determine maintenance and capital improvement needs after purchase. Those needs are listed below:
- Immediate:
- - Lower level ceiling tiles
- - Loose wires, cables in hallways
- 5-10 years:
- - Electrical panels
- - Furnace
- - New tiles in 2nd Floor shower
- - Replace common hallway carpet
Why Should I Donate?
- - Previous alumni made a financial commitment that likely benefited you as an undergraduate and now it is your opportunity to provide that same benefit for future generations.
- - We all made a life-long commitment to Delta Upsilon when we joined.
- - It's a chance to give back to the organization that helped prepare you for the working world.
Can I Get More Information?
- - Yes! There is more information available upon request. If you are considering making a donation, feel free to contact Andy Kahn for more information at 612-220-7481 begin_of_the_skype_highlighting 612-220-7481 end_of_the_skype_highlighting.