Epsilon Nu House Campaign
Capital Raise Details
Capital Campaigns
The Housing Corporation has designed multiple campaigns which we will systematically implement at key stages throughout this endeavor. As this effort progresses, donors will be recognized in a multitude of meaningful ways, including public acknowledgments, commemorative displays, and exclusive engagement opportunities. Beyond fundraising, our goal is for this initiative to serve as a platform to create meaningful and fun opportunities to reengage members of our over 1,600 living alumni, strengthening lifelong bonds founded in the most distinguished hallmark of Epsilon Nu - Brotherhood.
Estimated Construction Cost: $6M
The Housing Corporation has retained the services of the below Brothers to assist in the organization of this effort.
Architect: Former Consul Mark Hoesterey co-owner of SHM Architects.
Construction Cost Estimate: Former Consul Trey Strong owner of Trey Strong Custom Homes and co-owner of West Texas Land Guys .
Third-Party Investment/Expenses Auditor: Brother Dick Weisheit, CPA co-owner of Weisheit & Anson, LLP.
House Details
Square Feet: 13,800
Levels:
Includes a Great Room, Game Room, Dining Room, Conference Room, Library, Study, Display Room, Bathrooms
Includes the Chapter Room, Large Conference Room, Office, Ritual Storage Areas (large), Bathrooms
Includes Social Activities/Multipurpose Room, Lecture Hall, Storage Areas (3), Bathrooms
Covenant with Donors to the New Lodge Project
To sustain and advance the Sigma Chi Fraternity at Texas Tech, the Board of Directors of the Epsilon Nu Housing Corporation of Sigma Chi Fraternity (the House Corp Board) has undertaken a project (the Project) to construct a new lodge facility. The plan is to tear down the existing facility and rebuild on the current site, 16 Greek Circle in Lubbock. The House Corp Board has retained SHM Architects of Dallas to design the replacement facility. SHM has worked from a set of draft requirements created by the House Corp Board and with a committee of the House Corp Board, the Chapter Advisor, and representatives of the undergraduate chapter to develop a concept plan. To fund the Project, the House Corp Board has set about fundraising and is actively seeking donations.
Due to rulings about fraternity housing fundraising campaigns, most of the needed donations will not be tax deductible by the Donor and should be given to the Epsilon Nu Housing Corporation and noted “For New Lodge Project”. Recognition opportunities will exist, however, for those making contributions to the Project of $25,000 or more.
The House Corp Board has agreed all funds donated to the Project will be used solely for new construction, furnishings, and related planning and fundraising expenses. Further, the House Corp Board will make every reasonable effort to complete the Project. If the House Corp Board decides to terminate the Project for any reason, Donors will be refunded their pro rata share of the donations minus expenses approved by the House Corp Board. Should you decide to donate, the House Corp Board will have the power to do all things necessary, desirable, or expedient to carry out the Project. To ensure transparency, the House Corp Board has agreed all project expenses will be approved by an independent third-party member of the House Corp at large. Financial statements related to the project will be provided to Donors in a reasonable timeframe on written request.
Should tax deductibility of the gift be a necessity of the Donor, a dedicated account has been established at the Sigma Chi Foundation. These donations will support the construction and ongoing maintenance of portions of the new facility designated as Educational Space. Donations to that account will be governed by Foundation policies and those policies will be provided to the Donor by a representative of the House Corp Board. Please consult your professional tax advisor prior to making your donation. Donations to this account should be made payable to the Sigma Chi Foundation and noted “For the EN Ed Area Program”. The same recognition opportunities will apply as discussed above for non-deductible donations.