Quote:
Originally Posted by pshsx1
A portion of our National dues are put in an account for our chapter house through Nationals.
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Which is nice. My org has an independent property group that helps re-fi select houses to keep chapters from losing them, or to help with renovations necessary to make the business model work, or install fire sprinklers & such. It's backed by investment from our national foundation, but independent of both the foundation or the national fraternity. That's specifically so when we get sued they can't touch anyone's property. All our houses are locally owned by a housing corp that's technically not affiliated with the fraternity.
I know lambda chi's national housing corp melted down a few years ago. I know a few others just basically co-sign loans but don't actually give out any money or loans or own percentages of any houses. This is one of those things that varies widely between orgs. A lot of that I think is because housing donations are still not tax deductible.
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