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02-08-2006, 07:07 PM
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Banned
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Join Date: May 2001
Location: Taking lessons at Cobra Kai Karate!
Posts: 14,928
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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.
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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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02-08-2006, 07:08 PM
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Banned
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Join Date: May 2001
Location: Taking lessons at Cobra Kai Karate!
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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?
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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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02-08-2006, 07:16 PM
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Moderator
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Join Date: Jun 2000
Location: Mile High America
Posts: 17,088
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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.
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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.
__________________
Fraternally,
DeltAlum
DTD
The above is the opinion of the poster which may or may not be based in known facts and does not necessarily reflect the views of Delta Tau Delta or Greek Chat -- but it might.
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02-08-2006, 07:22 PM
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Banned
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Join Date: May 2001
Location: Taking lessons at Cobra Kai Karate!
Posts: 14,928
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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.
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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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02-08-2006, 09:16 PM
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GreekChat Member
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Join Date: Jun 2004
Location: Moving to a new level of Faith
Posts: 553
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 How sad- may the Grace of God sustain the Zetas!
__________________
ALPHA KAPPA ALPHA
A serious matter since 1908
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02-08-2006, 11:18 PM
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GreekChat Member
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Join Date: Apr 2001
Location: TX
Posts: 3,760
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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
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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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02-08-2006, 11:34 PM
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GreekChat Member
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Join Date: Mar 2005
Location: Down the street
Posts: 9,791
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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.
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Local founders = a charter member (of your chapter, of course) who lives in the area?
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02-08-2006, 11:39 PM
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GreekChat Member
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Join Date: Apr 2001
Location: In the fraternal Twin Cities
Posts: 6,433
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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
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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.
__________________
DSQ
Born: Epsilon Xi / Zeta Chi, SIUC
Raised: Minneapolis/St. Paul Alumnae
Reaffirmed: Glen Ellyn Area Alumnae
All in the MIGHTY MIDWEST REGION!
Last edited by ladygreek; 02-08-2006 at 11:48 PM.
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02-08-2006, 11:46 PM
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GreekChat Member
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Join Date: Apr 2001
Location: TX
Posts: 3,760
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Quote:
Originally posted by DSTCHAOS
Local founders = a charter member (of your chapter, of course) who lives in the area?
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Yeah
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02-09-2006, 06:12 AM
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GreekChat Member
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Join Date: Jun 2002
Location: Babyville!!! Yay!!!
Posts: 10,635
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http://www.wjla.com/news/stories/0206/301191.html
Follow up story. Seems the feds are involved now
__________________
Yes, I will judge you for your tackiness.
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02-09-2006, 10:37 AM
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GreekChat Member
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Join Date: Mar 2005
Location: A Groovy Place
Posts: 95
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Quote:
Originally posted by Rudey
And you said they owned houses at campuses.
I will pray for your sins.
-Rudey
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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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02-09-2006, 10:39 AM
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GreekChat Member
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Join Date: Mar 2005
Location: A Groovy Place
Posts: 95
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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.
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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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02-09-2006, 10:42 AM
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GreekChat Member
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Join Date: Mar 2005
Location: A Groovy Place
Posts: 95
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This is really unfortunate.
Thanks for the update, kddani.
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02-09-2006, 10:45 AM
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GreekChat Member
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Join Date: Mar 2005
Location: A Groovy Place
Posts: 95
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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
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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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02-09-2006, 11:02 AM
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Banned
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Join Date: May 2001
Location: Taking lessons at Cobra Kai Karate!
Posts: 14,928
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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.
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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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