Help Needed

[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.