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  #46  
Old 02-08-2006, 07:07 PM
Rudey Rudey is offline
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Quote:
Originally posted by Boom_Quack13
Houses aren't the only form of real estate.

They do own their IHQ, which is a piece of prime real estate, located on New Hampshire Ave. in D.C.
Well in that case, my point is that there isn't a ton of payments being made across the country. 400K isn't something that you just don't see.

-Rudey
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  #47  
Old 02-08-2006, 07:08 PM
Rudey Rudey is offline
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Quote:
Originally posted by DeltAlum
Don't some organizations help finance housing for certain chapters? That would make them owners until the loan is retired wouldn't it?
I asked about this earlier on GC and was told nobody does it. I know my org actually owns its houses as opposed to the local corporations. I'd be interested in knowing the dynamics for others.

-Rudey
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  #48  
Old 02-08-2006, 07:16 PM
DeltAlum DeltAlum is offline
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Quote:
Originally posted by Rudey
I asked about this earlier on GC and was told nobody does it. I know my org actually owns its houses as opposed to the local corporations. I'd be interested in knowing the dynamics for others.
I'm pretty sure that Delt does -- or at least has in the past -- offer loans to chapters that can qualify.

I'm not aware of any houses owned totally by the Fraternity, but that doesn't mean they don't exist.

We do own our International Headquarters building.
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  #49  
Old 02-08-2006, 07:22 PM
Rudey Rudey is offline
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Quote:
Originally posted by DeltAlum
I'm pretty sure that Delt does -- or at least has in the past -- offer loans to chapters that can qualify.

I'm not aware of any houses owned totally by the Fraternity, but that doesn't mean they don't exist.

We do own our International Headquarters building.
I feel bad about this tangent so I apologize.

If they offer loans, they don't own it. Also do they offer the loan from your own funds or act as co-signor?

My curiousities kill cats every day.

-Rudey
--I'm trying to throw great lines like that into all my posts
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  #50  
Old 02-08-2006, 09:16 PM
Lady of Pearl Lady of Pearl is offline
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  #51  
Old 02-08-2006, 11:18 PM
PiKA2001 PiKA2001 is offline
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Quote:
Originally posted by Rudey
I asked about this earlier on GC and was told nobody does it. I know my org actually owns its houses as opposed to the local corporations. I'd be interested in knowing the dynamics for others.

-Rudey
My chapter owned it's own house, well actually the deed was in the name of one of our local founders. I know that most of our chapters have their own Housing Corp. and a lot of chapters live in houses that the university owns so I 'm not to sure if HQ has any holds on chapter houses.
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  #52  
Old 02-08-2006, 11:34 PM
DSTCHAOS DSTCHAOS is offline
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Quote:
Originally posted by PiKA2001
My chapter owned it's own house, well actually the deed was in the name of one of our local founders. I know that most of our chapters have their own Housing Corp. and a lot of chapters live in houses that the university owns so I 'm not to sure if HQ has any holds on chapter houses.
Local founders = a charter member (of your chapter, of course) who lives in the area?
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  #53  
Old 02-08-2006, 11:39 PM
ladygreek ladygreek is offline
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Quote:
Originally posted by Rudey
Of course not. Enron, Worldcom, Healthsouth...the list goes on.

My favorite is when a CEO used the word EBITDAB with me. I know what EBITDA is but evidently EBITDAB is Earnings before interest, taxes, depreciation, amortization and Bob.

-Rudey
I wasn't clear. I meant it is not unique that it happens in the nonprofit world. Sorry about that.

Another point of clarification. DST's Grand Chapter owns the real estate that houses our HQ--four contiguous addresses in Dupont Circle of DC. Many alumnae chapters own, houses, comunity centers, early childhood education centers, etc. These transactions do not go though HQ.

But I do get your point. $300K of questionable HQ expenses could not be overlooked.
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Last edited by ladygreek; 02-08-2006 at 11:48 PM.
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  #54  
Old 02-08-2006, 11:46 PM
PiKA2001 PiKA2001 is offline
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Quote:
Originally posted by DSTCHAOS
Local founders = a charter member (of your chapter, of course) who lives in the area?
Yeah
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  #55  
Old 02-09-2006, 06:12 AM
kddani kddani is offline
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http://www.wjla.com/news/stories/0206/301191.html

Follow up story. Seems the feds are involved now
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  #56  
Old 02-09-2006, 10:37 AM
GangsterOfLove GangsterOfLove is offline
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Quote:
Originally posted by Rudey
And you said they owned houses at campuses.

I will pray for your sins.

-Rudey
I'm going to let you run back and re-read what I actually typed, since you seem to be confused.
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  #57  
Old 02-09-2006, 10:39 AM
GangsterOfLove GangsterOfLove is offline
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Quote:
Originally posted by ladygreek
I wasn't clear. I meant it is not unique that it happens in the nonprofit world. Sorry about that.

Another point of clarification. DST's Grand Chapter owns the real estate that houses our HQ--four contiguous addresses in Dupont Circle of DC. Many alumnae chapters own, houses, comunity centers, early childhood education centers, etc. These transactions do not go though HQ.

But I do get your point. $300K of questionable HQ expenses could not be overlooked.
I don't see how even $500 dollars of questionable expenses in any non-profit could be missed, let alone in ZPB.

Last edited by GangsterOfLove; 02-09-2006 at 10:45 AM.
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  #58  
Old 02-09-2006, 10:42 AM
GangsterOfLove GangsterOfLove is offline
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Quote:
Originally posted by kddani
http://www.wjla.com/news/stories/0206/301191.html

Follow up story. Seems the feds are involved now
This is really unfortunate.

Thanks for the update, kddani.
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  #59  
Old 02-09-2006, 10:45 AM
GangsterOfLove GangsterOfLove is offline
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Quote:
Originally posted by Rudey
Well in that case, my point is that there isn't a ton of payments being made across the country. 400K isn't something that you just don't see.

-Rudey
We get that point, fella. You just put your foot in your mouth by saying that ZPB didn't have ANY real estate to worry about.
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  #60  
Old 02-09-2006, 11:02 AM
Rudey Rudey is offline
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Quote:
Originally posted by GangsterOfLove
We get that point, fella. You just put your foot in your mouth by saying that ZPB didn't have ANY real estate to worry about.
Hey dude you know so much about ZPB but you keep avoiding the question on what houses they own. You did say that.

-Rudey
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