Quote:
Originally Posted by ramsey
So Econ Goon thinks 5% is not worth the features and benefits, huh? If dues at $900 per year, then 5% is $22.50 per semester..... So increase dues to $472.50 per semester to offset the cost. That's less than $6 a month if you bill in 4 monthly installments. If your members can't afford a $6 increase per month in order to benefit the whole chapter's financial situation which would also increase their quality of membership, then they have serious issues.
|
I was loling all through your post, don't know if it's because these all-nighters are getting to me but it just reminded me of a conversation I had with our old VP Finance and he was saying the exact thing you said about Econ Goon. Econ Goon proved himself right in the numbers game, though, according to this school year's numbers.
Quote:
Originally Posted by VandalSquirrel
While your econ major brother may be right, once he is out of the chapter the ability to do what he can do may be limited. What is great about Omega Fi is that they will be there beyond the current members and alumni/advisors, therefore able to hand these situations in the long term. Having this handled by someone who isn't a current member cuts down on internal issues. It now isn't a conflict between brothers, but a brother being handled by Omega Fi.
That 5% they take may or may not be less than the money your chapter would spend. When you look at the other costs, time mailing certified letters, filing in small claims court, kicking people out and all of the associated butt hurt and dramatics, that 5% may be worth it.
|
This is what I tried to advocate after he got the chapter behind him.
Quote:
Originally Posted by AGDee
One of the issues I frequently encountered with chapters who were having collections problems was that they didn't have the documentation required to use a collection agency. Omega builds all of that in so that there are invoices, etc. The threat of non-payment actually affecting a college student's credit rating gets them paying too. Additionally, collection agencies charge significantly more than 5%.
Enforcing payments usually means having to suspend the membership of a member or two before people start to take it seriously and you still don't get the money owed to you.
Pull some hard numbers to make your case. Figure out what that 5% means in dollars for your chapter and how much has gone uncollected.
|
We've suspended and expelled some members this semester and last semester. After we expel them for indebtedness, we usually don't see a dime from them.
Quote:
Originally Posted by Kevin
Agreed. I'm our chapter advisor and I also happen to be a lawyer. Those Omega Fi contracts are pretty airtight, and I haven't had to yet, but I may be taking a young man to small claims court pretty soon, and with the contract he signed, it'll be easy peasy for me to get a judgment.
|
We have our membership agreements and financial records via Quickbooks and a receiptbook, but that's all we have and I'm afraid it'll look less legit in the eyes of a judge.
Hybrid Mode
