South Dakota Theta Chapter
South Dakota State University
© 2013 South Dakota Theta Chapter of Sigma Alpha Epsilon Fraternity
PO Box 271
Brookings, SD 57006
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THANK YOU ALUMNI, LITTLE SISTER ALUMNAE AND SAE FRIENDS!
CAMPAIGN SURPASSES $1 MILLION GOAL!
The SD Theta House Corporation Board of Directors is humbled to announce that we have surpassed the $1 million mark in the Rising from the Ashes, Building Our Future campaign!
All told, $1,045,000 has been committed to the $1.89 million, 10,200-square-foot house which opened last August.
Does that mean that fundraising is over, you might ask? No, fundraising is not over and we will continue to accept gifts and add to the donor list. We are just not actively soliciting gifts/commitments.
While we are still determining finances, we hope to have a mortgage of between $350,000 and $450,000. With some donors designating where funds go, the formula isn't as simple as one plus two. There will be two mortgage's one short term for the duration of the time pledges are being paid (2017) and the other long-term for the amount of costs minus commitments paid and initial funds on hand.
It is critical that all commitments be met or the House Corporation will be forced to obtain too much long-term debt that isn't sustainable. Currently, as the chapter transitions to the new house, there are 17 residents. Full capacity is 18.
This is an incredible accomplishment, noted House Corporation President Clark Schoening 87, especially form a donor pool of about 650 alumni. The amount generated includes a $15,000 commitment from the undergraduate chapter.
Schoening added that the House Corporation Board is incredibly thankful for the generosity and support of so many alumni. When we started this campaign, our campaign consultants told us to start with a working goal of $750,000 and we have surpassed that by 40 percent.
To date, more than 200 alumni and undergraduates have made commitments to the project. Anyone wishing to make a commitment should contact Loren Boone 72 at firstname.lastname@example.org , message on Facebook or call at 320-293-6692.
Others on the campaign committee have included Dennis Jones 69 and Arlie Houtkooper 70, honorary co-chairs; along with Steve Roberts 69, Richard Smith 69, Jeff Nelson 71, Thomas Graslie 73, Mark Buechler 8,m Cal Stengel 83, Wendell Bouwman 85, Scott Zweep 86, Clark Schoening 87, Michael Relf 88, Michael Evink 90, Dallas Bridges 92, Mike Jaspers 93, Mark Law 94 and Jim Seeley 00.
Loren J. Boone '72
If you have questions about making a donation please contact Campaign Co-Chair, Loren J. Boone @ email@example.com
Gifts of $5,000 and up now fully tax deductible
The SD Theta House Corporation and the SDSU Foundation have agreed that gifts of $5,000 and up will be fully tax deductible for the SAE house project. The determination of the amount of space for educational purposes was better than anticipated so the House Corporation broadened the tax deductibility scope in hopes of generating additional gifts.
For those alumni who have made partial gifts on pledges between $5,000 and $25,000, all future payments on pledges will be fully tax deductible. The initial scope was gifts of $10,000 to $24,999 were 50% tax deductible but now are fully deductible. Checks should be sent to the House Corporation and made out to the SDSU Foundation.
Alumni with questions should contact Loren Boone '72 at firstname.lastname@example.org or 320-293-6692 (cell).