Monday, January 30, 2023

Board Meeting Tuesday January 24, 2023

 President Cole Harris opened the meeting at 6:07 PM. Two motions were passed, see below.


April 14 Events Past Active Chapter President Mike Hunger and John Bokum worked on this project. An email announcement will be distributed. 

Date: April 15 2023
Events: 
Board Meeting at the house, 10:30 AM
Social, leave for Lake Linda by 1 PM
Cost for meal and sundries: $20 to $30 TBD
Transportation will be "drive or catch a ride" this year. It is about a 30 minute drive.

Scholarships

John Bokum explained that we will be using WIU's 501c3 status to make donations tax deductible. Thanks to Vic Caricato and Bob Leoni for their work on this.

-> For donations to the scholarship fund: make check to "WIU Foundation/Theta Chi scholarship" and mail to:
WIU Foundation, 1 University Circle, Macomb, IL 61455

-> For donations to the house: 
  • contribute online at Link, or
  • make check payable to:
    • Janice Vogel
      All Phase Property Solutions
      403 Hampshire Street
      Quincy, IL 62301-2927
    • Make the check payable to Theta Chi Alumni Association and write in the note area, "for house fund."
House Insurance
John Bokum reported that our coverage from Holmes Murphy will go up 15 to 20% this year.
We will meet soon to vote on whether to include liability insurance or continue relying on National's insurance for liability.

Thompson Hall
Mike Hunger reported there was a fire in Thompson Hall. He said there is a chance four brothers may choose to live in the house. We discussed how much we might charge them for rent. We decided we would negotiate with the brothers starting at $250 a month. Terry Austin will work on this.

Finances
  • (The actives were dismissed at this point and thanked for attending.)
  • Treasurer Bob Eden reported:
    • Bob said we had a significant deficit last year. Donations were a significant help. We agreed we need to restart house donation efforts.
    • Our taxes are about $8k per year and payable in two installments. John Bokum reported that an appeal to the state of Illinois was not accepted.
    • Currently we are paying interest only on our mortgage. However, that will end soon. John said he will petition our bank to continue the interest only arrangement.
    • Bob said we have about $15k in our Vanguard account.
    • A motion was passed to update the signatories on our Vanguard account. 
Rent
A motion was made and passed to increase the house rent. The new rent rates are $450 for double bedroom occupancy, and $550 for single. The new rates start next fall.