View Single Post
  #11  
Old 04-06-2008, 12:11 PM
PhiGam PhiGam is offline
GreekChat Member
 
Join Date: Dec 2007
Location: Potbelly's
Posts: 1,289
Quote:
Originally Posted by Kevin View Post
The thing is -- most organizations have already started to take that ability away from alumni. For large, established chapters, alumni donations aren't turned around and used immediately. Often, for tax reasons, that money goes into a 501(c)(3) trust which is overseen by either your national, or a board of alumni directors with oversight from national. I'm working on organizing one such fund for my chapter right now. It's good stuff.

Even if your national doesn't control the funds in your foundation, the alumni who run the board still have a fiduciary duty as to the use of those funds. Refusing to disburse funds because the chapter refuses to engage in illegal activities, I'm afraid is not a valid use of that authority. In fact, if what you say came to pass, that sort of behavior on the alums' part could actually be enough for a plaintiff to reach them personally.

Now you can go underground or whatever, but how long would something like that be viable?
I just don't see southern fraternities giving away that power to nationals, most of us do not care for nationals.
Reply With Quote