Help us purchase the
Upsilon Chapter House

That money stays with the Foundation. We were not in a lease-to-own arrangement; we were tenants of the owner, the Foundation.

The working purchase price is $1,925,000, based on a May 2026 appraisal. The Foundation has indicated it intends to sell at the appraised value. The final price is subject to the Foundation's approval and the purchase documents.

Not exactly. The current planning scenario funds the purchase with about $500,000 in alumni gifts and $1,450,000 in alumni investments, which covers the price plus estimated closing costs of about $6,000. Neither amount is confirmed yet.

The final fundraising target is still being set. It also needs to cover legal, inspection and entity-setup costs, any immediate repairs, and an opening reserve of about $45,000 for taxes, insurance and unexpected expenses. Those costs haven't all been priced yet.

We can still make an offer on the house with the money raised.

Before the offer, we'll have the house inspected to identify any major deficiencies and send the findings to the Foundation. The Foundation will then either complete the necessary repairs before the sale, or the cost of those repairs will be deducted from the purchase price.

General upkeep of the house hasn't been great, and repairs from the Foundation have been slow. That means there's a lot we can note to bring the price down, and we're already putting together a list of everything that needs to be fixed.

Who is responsible for the Foundation's planned roof, mold and HVAC work, and what it will cost, is still being confirmed. Separately, the chapter's first-year budget sets aside $20,000 for painting, cleaning, appliances and minor updates.

The alumni-run Upsilon Property Holdings LLC will buy the house from the Foundation using alumni investments and any other approved funding. The LLC will then sell the house to the non-profit Upsilon Housing Corporation through seller financing (similar to rent-to-own), and the non-profit will make scheduled payments to the LLC until it fully owns the house.

The steps are:

1. Agree on purchase terms with the Foundation.
2. Finalize and fund the LLC.
3. Complete due diligence, financing and the purchase.
4. Set up the non-profit legally and operationally.
5. Sell the house from the LLC to the non-profit with seller financing.
6. The non-profit makes payments until it owns the house outright.

Whether the non-profit receives the deed at the start (secured by a note and mortgage) or at the end (a contract for deed) hasn't been decided. Either way, the date investors are fully repaid isn't necessarily the date the deed transfers.

Investing: you contribute capital to Upsilon Property Holdings LLC under signed agreements and become a member of the LLC. Investors are intended to be repaid over time with a 3% preferred return, though repayment isn't guaranteed.

Donating: you give a gift with no expectation of repayment, ownership or return. Donations are recorded separately from investments.

That hasn't been confirmed yet. Gifts to a fraternity-related housing effort aren't automatically deductible, and we're having qualified advisers confirm who receives gifts and their tax status before making any promises.

Yes. Gifts restricted to a purpose such as capital improvements or the purchase will be tracked separately and used only for that purpose.

No. A pledge is a non-binding statement of intent.

No. Everything described here is a proposal and is still under legal review. Final terms will be set out in the official LLC and non-profit documents before any investment is accepted.

Starting October 17th, we will reach out to you about payment options. All funds need to be collected by [DATE].

Yes. Check the "Pledge anonymously" box on the pledge form and your name won't appear in the public feed.

Investors earn a proposed 3% simple (non-compounding) annual return on the part of their investment that hasn't been paid back yet. As your capital is repaid, the return shrinks with it. The return is not guaranteed.

For example, a $50,000 investment accrues $1,500 of return over a full year (about $125 a month). That's the amount you're owed, not a promised monthly check; it's paid out when cash is available.

This 3% investor return is separate from the proposed 3% rate on the seller financing between the LLC and the non-profit.

This will be a slow return on investment. Investors are paid from the chapter's housing payments, after property costs and reserves, so payouts depend on chapter rent, occupancy and the house's expenses.

The current plan makes no distributions in years 1–3 so the house can build up its reserves; your 3% return keeps accruing during that time. Distributions are projected to begin in year 4, with a larger first payout that catches up the accrued return and starts repaying capital.

Under the current projection, all investor capital plus accrued return is repaid by about year 22. That's a planning estimate based on sample rents, assumed funding, costs and growth, not a guaranteed payoff date.

After required property costs are paid and reserves are protected, available cash is paid out in this order:

1. Any accrued, unpaid 3% return.
2. Your original investment.
3. Any remaining profit, split by ownership share.

You can request a buyout 36 months after your investment is accepted, with 90 days' written notice. This starts an orderly process; it isn't a right to immediate repayment, and the LLC isn't required to buy you out on demand.

In cases of hardship, death or disability, a request can be reviewed before 36 months, though approval isn't guaranteed.

The 36-month hold is separate from the plan's three years without distributions. The year-22 payoff projection doesn't include any early buyouts.

We'll first look for an approved existing or new alumni investor to buy your share. The LLC may buy it instead, but only when doing so is legally permitted and won't put reserves, tax payments or the house at risk. An approved buyout may be paid in installments.

The price is negotiated or set through an independent valuation. Your unpaid capital plus accrued return is a reference point, not a guaranteed price.

The current plan has a total chapter housing payment of $10,500 a month ($126,000 a year), rising about 3% a year. That payment comes from resident rent and parking income together, and it covers the house's property taxes, insurance and maintenance before anything goes to investors.

For comparison, the Foundation's current target is $137,000 a year in combined rent and chapter funding, so the new payment is about $11,000 a year lower. The two arrangements are structured differently, though, so that difference alone doesn't guarantee savings.

In the first year, the chapter's budget covers this payment, its usual expenses and $20,000 of one-time updates with a small surplus. If the chapter's budget can't keep up with scheduled increases in later years, payments are capped at what the chapter can afford while keeping a $25,000 bank balance, and investor repayment slows instead.

The non-profit, as the owner, collects resident rent and pays the property costs, while also making its purchase payments to the LLC. First-year property costs are estimated at about $44,500:

• Property taxes: about $28,500
• Building insurance: about $12,000 (estimate)
• Routine maintenance: $2,500
• Administration: $1,500

The chapter's budget covers utilities and its usual expenses such as dues, national fees and activities. Major roof, structural or mechanical work will need a separate condition review and capital plan.

To help, alumni volunteers will serve with the non-profit as managers (similar to a "regional director"), on a rotating basis.

Yes. The reserve target is 12 months of property taxes and insurance plus a $5,000 cushion for unexpected expenses, about $45,500 in the first year. Required property costs are paid and the reserve is protected before any investor distributions.

Tax funds, insurance funds, operating cash and emergency reserves will be tracked separately. The reserve is built from the housing payment, not charged to members on top of rent. Larger projects like a roof or structural work will be planned separately.

In the event that the chapter can no longer make the payments to the LLC to own the house, it may result in selling the house.

The LLC and the non-profit will keep separate books, bank accounts and records. Because some people may be involved in both, any dealings between the two require disclosure, recusal of anyone with a conflict, independent fair-market-value support and approval by members without a conflict.