E-CHI
"Educational
- Chapter Housing Initiative"
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| A
tax-favored “bricks and mortar” program approved by the
IRS to benefit fraternity housing. A convenient way to collect Tax-Deductible
contributions to offset building and maintenance expenses associated
with a college fraternity house. All costs associated with the "educational
component"of the building can qualify for grants. |
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Who
Needs E-Chi ?
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All
Chapters and Colonies!
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| E-Chi
Accounts are beneficial to Chapters in various stages of building |
Chapters and colonies
looking to initially build a chapter house can utilize an E-Chi
Account to accumulate tax-free donations to be applied towards
the future construction project. This also applies to all types
of renovation projects.
- Chapters with a
house that have no plans to remodel or renovate can utilize
an E-Chi Account to set aside funds for the future needs.
- Chapters can utilize
this program to reduce their mortgage balance faster with tax-deductible
donations.
- Chapters and colonies
who need an educational library, computer room or to remodel
bedroom space for studying will find this account most beneficial.
- Chapters needing
to upgrade or install fire safety systems and /or internet wiring
can utilize an E-Chi account.
- Housing Corporations
can become their own "Mortgage Bank" with sufficient
fund.
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| Typical
Costs Reimbursed via E-Chi Housing Account Grants |
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Study
rooms, libraries, computer rooms, drafting and educational work
rooms, leadership training rooms, and educational storage rooms
in the fraternity house, as well as a percentage of the design
and construction costs for those areas. |
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| Housing
Account Agreement and Support Documents: |
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you are interested in exploring the establishment of an E-Chi Housing
Account for your Chapter, we have some resources on how to proceed
including a sample contract outlining all associated fees and costs.
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