Help Needed

[L.O.C.K.]

Hey all,
Hope everyone is doing well over here!

My Fraternity is in the process of establishing a 501c3 non-profit Foundation. From searching the internet and looking at various 501c3's of fraternities and sororities, DREF really impressed me from what I saw on the website and what I know from my friends who are Deltas.

In any case, I contacted your IHQ awhile back both by phone and email trying to find out more about it, but I didn't get any replies.

Basically, what I'd like to know is how it's structured to work. IE, how do chapters have their own scholarships managed by it? Or what kind of benchmarks are used?

I've been doing a lot of reading on how you set up a 501c3, etc. but these are usually geared towards non-profits that are totally seperate from other ones. Since DREF basically goes with the mission of DST, how does that all work?

I know I have a lot of questions that probably would be best addressed in PM or email, so if anyone is willing to help, our organization (and those we hope to help) would be much obliged!!!

Thanks!!!!!!!
Nate

[ladygreek]

In addition to DREFsome of our chapters have also set up separate 501(c)(3)s.

DREF is set up somewhat like a community foundation. It can receive donor designated funds. For example my chapter set up our scholarship with DREF. The advantage to us is that the capital gets invested with the larger pool of funds thus gaining us more interest than if we had invested it ourselves. In addition there are professionals administering the fund. We will not go into the capital but will issues scholarships from the interest we receive. We just need to do the proper parerwork to get the funds.

DREF also receives unrestricted funds that may be used for its programming and for giving program related grants.

It has a separate board of trustees--Deltas and non-Deltas (a requirement to maintain a separate identity) and it's own facility, albeit next door to our HQ. It also has its own vision and mission, and staff.

Chapters have set up such entities for similar purposes--to be able to receive tax-deductible dollars. But the entitiy must have a charitable purpose. An example is the Delta Early Childhood Center in East St. Louis, IL. During the weekday it is just that--an early childhood center with certified teachers and administrators. During the evenings and weekends it serves as the meeting location and community service facility for the chapter. It also has its own board of directors of Deltas and non-Deltas.

Again, because the (c)(3) must maintain a separate identity the full name of the sorority cannot be associated with it. So in most cases they will be named the Delta xyz, Inc., or as in one creative instance DSTEE, Inc.

PM me if you have more questions.