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Home >> Questions?
QUESTIONS?

  • What are the benefits of maintaining ownership of the house?
Maintaining ownership of the chapter house is one of the best ways to insure the chapter will survive.
1. As administrations change there is no guarantee that policies and commitments will be kept. By having a strong land lease and owning the chapter we allow ourselves to have financial autonomy, financial options for recolonization based on having equity in property.
2. With a presence of an active and participating house corporation made up of Phi Psi alumni, we will be able to react much quicker to the changing environment. We retain the ability to ensure that our brothers have the chapter house as the backbone of their learning experience in Phi Psi.
3. The chapter house provides our brothers with extraordinary leadership experiences. They must manage and run a small corporation including managing a property and a commissary. It creates a unique opportunity for our brothers that would be lost with a non-owned facility.
  • What happens to the Chapter house, and money raised if the chapter goes under?
The house continues to be the property of the House Corporation, who may choose to sell it or rent it to another group. The Fraternity and Penn Theta alumni will want to return to campus as soon as we are able. The ability to do so depends on why the chapter closed and the relationship with Lafayette College at the time. The most recent chapter to depart the Lafayette campus is planning to return to Lafayette in the fall of 2008.
If it were sold, the House Corporation would pay off any loans and preserve the capital for another house later. Funds remaining in the Penn Theta Account at the national Endowment of Phi Psi would remain in the restricted Penn Theta Chapter Account for at least 21 years. They can provide scholarships for sons or daughters of Penn Theta Theta alumni, or could fund an annual Phi Psi Greek leadership scholarship at Lafayette College to keep the name in the public eye until we are ready to return. The Trustees of the Endowment Fund can make extensions on the 21-year period, if necessary and with intent to reorganize.
  • What assurances do we have that if we raise the money and do the work that Phi Psi will remain on Lafayette campus?
We know that the administration wants organizations that provide benefits to the campus. As we are a positive influence to the Lafayette community, we will continue to thrive. We are the only ones who can control our fate. A state-of-the-art chapter house raised via our capital campaign and tens of thousands of dollars of scholarships from the national Phi Psi endowment will provide tangible benefits to the school as will engaging some of our college's brightest alumni - bringing them back to the campus. The house and the scholarships will allow us to recruit the best and brightest on campus. This cycle will make Phi Psi an invaluable asset to Lafayette College.
  • What is the attitude towards Phi Psi on Campus?
Phi Psi has a reputation as a strong academic chapter. The brothers are very active and well respected on campus. The chapter house is considered one of the best-maintained on campus. The brothers recently took the largest spring pledge class on campus and have a head start in next year's rush taking 6 freshmen - prospective members with them on spring break to Cabo Alpha - American Leadership Academy's spring break.
  • What is the attitude towards Phi Psi by the administration?
The administration views Phi Psi as a good house with strong alumni involvement. We have a good reputation amongst administrators as upstanding chapter that leads the Greek community. A member of the Lafayette College administration has a seat on the Penn Theta Building Committee as to recommend student housing trends. President Dan Weiss has publicly and officially endorsed our campaign [click on letter from President Dan Weiss on home page].
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