ALPHA THETA CHAPTER OF SIGMA CHI FRATERNITY, INC. Alpha Theta Chapter M.I.T. founded 1882 founded 1861 March 21, 2002 Minutes of the meeting of the Corporate Board, held February 7, 2003. The meeting was called to order at 7:35 PM in the Chapter House Library. Present: Karl Büttner (Board) Josh Littlefield (Board), Doug Bailey (Board), P. K. Hadley (Board), Jay Krone (Board), Adam d'Amico (Chapter Advisor), Mark Curtiss, Herb Mower (Board), Mike Kahan, Rory Foster (Consul, Board) Tae Kim (Pro Consul), Ben Wang (Quaestor, Board), Raudel Rodriguez (G.Z., Board), Dan Kim (Rush Chair), Devjit Chakravarti (House Mgr., Board), Danny Craig (Spring Board Rep.), Soojin Lee (Quaestor elect) Absent: Neelesh Kantak (Fall Board Rep.), Tom Faust (Board), Alex Chernyakov (Spring Board Rep.), Mike DeLaus (Board) Minutes of the November 18, 2002 meeting were accepted as distributed. CHAPTER REPORTS Consul Report – Rory Foster 1. I-Week: moved to last week of IAP, went well (9 new brothers initiated), pledges showed lots of commitment (even through 18.02A final, skiing, etc.), alumni participation was good. 2. Derby Days (April 4, 5): focus expanded to MIT groups. Going to co-sponsor with a dorm. Goal: get our name out and raise money for Children’s Miracle Network. Friday - free concert, Saturday – brunch, athletic events. Want more sponsorship from MIT, businesses this year. Planning it w/ Harvard last year was more trouble than it was worth. 3. Province Conference (Feb. 21-23): possibly caravan up to Halifax w/ B.U. + Harvard? 4. Housing Crunch: 8 of 9 new brothers planning to move in next year – Alex pledged on condition that could live on campus for 2 yrs (parental push to get good grades). Don’t know the senior’s housing plans (most sticking around another year for various reasons). Projected to be OK financially without this year’s seniors in the house next year. 5. Dinners w/ MIT people: faculty dinner, inviting on campus people to eat w/ us (e.g. Dr. Siegle (head of MIT Medical), R.S.L.P. office personnel). 6. Alumni Dinner/Softball: sometime in April? Quaestor Report – Ben Wang 1. House finances are OK. We are running a slight deficit (~$2,000), but MIT’s residence transition plan assistance check will help balance that. We have $5,000 from Alumni relations award won last year that is unspent. 2. Need to go over what the Chapter owes the Corporation with Josh Littlefield – expecting to write a check to the Corporation next month. House Manager Report – Devjit Chakravarti 1. We insulated the house a little better: weather-strips on doors, shrink wrap in 3LB. 2. Replaced the gas valve on the boiler 3. Step in 0 floor rear stairway is loose (shoddy construction) – will need to be fixed during work week. Work Week Report – Devjit for Brady Young 1. Budget, hours reflect the class of 2006 not having lived in the house. 2. Need to fix 2nd floor urinal (now?)– put in automatic flush sensor? 3. The Board approved a motion authorizing P.K. to use $300 to solve the urinal problem. 4. Budget for 2003 work week will be finalized at the April Corp. Board meeting. Steward Report – Tae Won Kim 1. We are looking for a cook (it’s a better use of brother’s time during rush to not be cooking). 2. A cook might add $5,500 - $7,000 additional cost / term. 3. Most of chapter wants to continue to have brothers cook – motion to employ a cook will probably fail. 4. We will look into possibly sharing a cook with other fraternities on Beacon St. Webmaster Report – Mike Kahan 1. Improved website to be up shortly – new Alumni section (database of info obtained from nationals), calendar, and photos sections as well. It will hopefully include an alumni login, though I will discuss the security ramifications with Adam d’Amico before enabling this. CORPORATE REPORTS President – Karl Büttner 1. There is a new report out on the Fraternity system written by some students and a professor or two. I’ll send it out to those interested. Treasurer – Josh Littlefield 1. Year end statement of finances (included at end of minutes). We still have money in the bank. Cash is going down, though house accounts are stable now (and not enough info to tell if cash will go up in the near future). 2. Do we have enough cash? Yes – we haven’t even tapped into the $100,000 IRDF loan for Building Needs project. 3. Chapter owes the Corporation Spring rent (which is due now), but the Corporation owes the chapter for various expenses (insurance, work week, etc.) – net probably is close to zero. 4. There is ~$22k in the bank now. 5. Transition from previous treasurer is proceeding slowly (still need to change the signatures on the accounts) 6. The board approved a motion authorizing that the signatures on the Corporate Bank accounts at Middlesex Bank be changed from Mark Curtiss and Tom Faust to Karl Büttner and Josh Littlefield passed unanimously. Building Needs Committee – Doug Bailey for Mike DeLaus 1. Nothing new to report. NEW BUSINESS IAP Report – Raudel Rodriguez 1. We housed a Wellesley student over IAP, which turned out fine. 2. Replaced the front door lock. 3. Superbowl party at the house with the Harvard and B.U. Sigs was packed. Spring Rush – Dan Kim 1. MIT is hiring a consulting firm (Campus Speak) to help with rush. 2. Long term: spring rush will take on greater importance across campus for everyone and tend toward a more one-on-one approach. 3. Spring rush: underway, we will not be recruiting hyper-actively. 4. Fall rush dates: pushed up to 9/5 or 9/12. Questionable as to whether a longer rush helped us. 5. Studies: several regarding rush being circulated (e.g. “MIT Fraternity System in the 21st Century” – Prof. John Carroll), questionable as to whether they mesh with actual participants’ experiences, or how scientific they are. 6. Using our freshman: we plan to exploit their dorm contacts to build our list of prospects. 7. Spring pledges: would be put into the next fall pledge program. We might need to run two pledge programs in 1-2 years. Capital Campaign – Doug Bailey 1. The Capital Campaign Committee met last night. They discussed the strategy for our campaign and what we can learn from the way MIT runs its capital campaign. Findings include: a) We need to re-organize our Alumni data for the purposes of a capital campaign, starting from the Stewart Howe database. b) Beyond our alumni, we should also look at foundations outside of MIT that may be interested in supporting our campaign. c) Need a solid business plan (contingencies). d) Maximize tax-deductibility. Conclusions: a) Need to start a permanent “sinking fund” to pay for future upkeep/renovations. b) We have to develop a model strategy for survival/success in MIT’s new residential environment. c) Will draft a timeline for completing this model strategy over the next few weeks. d) Find ways to use MIT or other qualifying charities to allow tax-breaks on some donations. e) Cultivate persistence in donors. 1. Useful people on the national level: Mike Ursillo (Leadership Training Board), Dan Harrop (Grand Trustee), John Piotti. 2. Legal counsel in MA: Mike Ursillo and Kurt Gerstner. 3. National fund to look into (the specifics): Carlisle fund. Swanson + Powell Scholarship dinner 1. Possibly host it at the house this year. 2. Make it an annual event (maybe not always at the house). Senior Dinner + other important dates 1. Senior dinner set for Thursday, May 29. 2. Adam d’Amico (as Chapter Advisor) to remind the chapter/help schedule important Alumni dates: senior dinner, pledge dinner, I, Swanson dinner, Alumni day, Reunion. Corporation Email List 1. To aid communication, Mike Kahan will set up a Corporation email list: sigscorp@mit.edu, whose members will include all the current Corporation members. The next meeting will be April 16, 7:15 PM at the chapter house. The meeting adjourned at 9:35 PM. Respectfully submitted, Mike Kahan, class of 2003 Corporate Clerk ALPHA THETA CHAPTER OF SIGMA CHI FRATERNITY, INC.