Has anyone heard of an official statement from Zeta Phi Beta or any attorneys involved?

It wasn't an issue with the IRS b/c they haven't filed taxes since 2002 (just b4 their current president took office). You have 3 years to file a tax return for any given year, although penalties can still be assessed for any money owed.

Since they haven't filed a return during their current president's administration, the IRS had no way of knowing what was going on. I'm sure that the IRS is going to be all over them soon, though.

Re: Re: Re: this is sad
 

There were some comments made on the actual article. If they are still there.

What makes you think their organization doesn't own any real estate?

Re: Re: this is sad
 

Ditto

Are there ZPB houses on campuses across the country, let alone ones owned by their IHQ?

-Rudey

Some of their chapters do have houses. And they own their international headquarters in DC.

Any other questions? lol

If there aren't, are sorority houses the only real estate a IHQ can own?

Who owns those houses?

-Rudey

Re: Re: this is sad
 

Co-sign. (((Zetas)))

I did not know that their president lives in Columba and works for Benedict. My uncle graduated there in the 80s and is highly involved in alumni and recruiting future students. And this will not be good news for BC either, since they have been under a lot of scurtiny the last few years.

Also, the website could have taked off the caps on the story and had it not look like it came from a telepromp.:p

Re: Re: Re: this is sad
 

That is one of a few reasons why I was questioning the authenticity of the story. Until I watched the video.

I'm gonna let you figure that out, since this little exchange is about whether or not their organization owns any real estate. lol

lol

That website has a place for feedback on that article, and after reading what has been posted there, I can see that some members of Zeta Phi Beta are upset that this has become public. Others seem to be happy that it's being made public.

I can understand wanting to keep dirty laundry to yourselves. But this is more than just dirty laundry- it's a crime. It's also a public matter. Nonprofit organizations all undergo a great deal of scrutiny and are subject to very specific rules and regulations, by both the IRS and their state attorney generals. It goes along with the tax benefits. The accused, and anyone else who may have helped in the abuse of funds, was put in trust of the money. $400,000 is a LOT of money to a GLO.

If these allegations are true, and it seems like there's a lot of documentation, this may be an eye opener for all GLOs. Not only to have stricter regulations and policies for safeguarding the funds of the organization, but also to deter anyone else in a position of power in a GLO to think about doing something like this.

I'm sorry it had to happen to ZPhiB, and I feel for its members, but i'm glad that this is public. It is something that we should all be aware of.

Answer the question since you know so much.

Most GLOs have local corporations that own houses, not the IHQ. Many GLOs rent. And I doubt that any of the D9 have as many houses as other types of GLOs to begin with.

So really is there a vast empire of real estate in their portfolios creating a complex web of financial transactions? You know so much about ZPB so I thought you would know.

-Rudey