Iota Alumni Association

Financial Records

Just What Are My Dues Doing Anyway?

§ Overview:

You've paid your dues, but where did that money go? Was it allocated for a project? Did it go toward some National Fee? Is it sitting in a box by the door? Did the treasurer run off to Aruba on it? oops... Fear not for herein lies all that you would ever want to know (and all that I'm going to stick out for public perusal!)

§ Account Information:

• Regions Bank
• Established: December 2nd, 2000
• Business Checking Account with Not-For-Profit Status†

§ Dues Breakdown:

$50.00 Total Dues

$25.00 to National Dues††

$ 5.00 to National Alumni Association Programs
$ 5.00 to District Allotment
$ 7.00 to Administrative Costs
$ 8.00 to Insurance Costs

$25.00 to Local Dues‡

$ 5.00 to Iota Candidate Fund
$20.00 to Operating Budget

§ Current Balance:

• $489.17

§ Current Allocations:

• Iota Candidate Fund: ±$100.00 per Semester 2003-2004 School Year
• Programs (unspecified) $75.00

§ Current Operating Balance:

• $214.17

§ Annual Budget Reports:

• 2000-2001 • 2001-2002 • 2002-2003 • 2003-2004 • 2004-2005 • 2005-2006 •

§ Anticipated Expenses:

• Spring 2004: $100.00 Iota Candidate Fund
• Spring 2004: $5.00 Local Alumni Annual Assocaition Fee
• Fall 2004: $100.00 Iota Candidate Fund

§ Ledgers:

• 2000 • 2001 • 2002 • 2003 • 2004 • 2005 •

§ Additional Notes
† Non-interest bearing account with monthly fee waived
†† The National Alumni Association Definitions:

NAA Programs: These are programs which the NAA has developed to serve KKY and TBS. These programs include the Chapter Delegate Grants, which assists chapters to send delegates to National Convention; and the Special Projects Assistance Fund, which provides financial assistance to chapters to help with worthwhile projects.
District Allotment: This amount is sent to your designated district (not necessarily the one you were an active member of) to be used at the discretion of the district officers.
Administrative Costs Covers maintaining of alumni records, processing, printing, postage, etc.
Insurance: All actives and alumni are required to pay for coverage protecting the National Organizations from lawsuits and liability claims.

‡ The Iota Alumni Association Definitions:

Iota Candidate Fund: For each Membership Class, the Iota Alumni Association will contribute a given amount toward the Initiate Registration Fees owed by the Candidates. Initially set at $100.00 per Semester (to be equally distributed amongst the candidates), it is the intent and hope of the IAA to eventually pay all of the Initiate Registration Fees. The previous allocation of $5.00 from each IAA member's dues intended for the Scholarship has been amended to be allocated for the Initiate Registration Fee. Please direct comments or concerns to the Board of Trustees.
Operating Expenses: At the present time the defined operating expenses are the "Annual" Newletter (intended to be sent each spring), the Annual Local Alumni Association Fee, and the Initiate Registration Fee Program.

• Respectfully updated this 8th day of January, 2004

§ Diclaimer

The content of this page is not intended to reflect or imply any opinions of the Iota Alumni Association, the Iota chapter of Kappa Kappa Psi,the National Alumni Association of Kappa Kappa Psi and Tau Beta Sigma, the National Chapters of Kappa Kappa Psi and Tau Beta Sigma, the Georgia Institute of Technology, or the Georgia Tech Music Department. Any inference or apparent insinuation of any such activity is strictly due to the interpretation of the reader. It is however intended solely as a visible and public means of realying a picture of the financial status of the Iota Alumni Association. Aruba is nice this time of year...