Beta Financial Assistance
August 30, 2020
I am writing to follow-up on last week’s Fraternity-wide update, which alluded to impending financial relief for all chapters in the coming school year.
Today, the Board of Trustees is announcing additional measures it is taking to provide important financial and operational assistance as – together – we forge a path for our brotherhood in the face of the global pandemic.
In recap, on June 10 the Trustees announced initial financial adjustments and support for all chapters totaling $255,500 thanks to the strong partnership between the General Fraternity and Beta Foundation:
- Men of Principle Scholarship Grants – $500 per chapter increase (for a total of $1,000) in Men of Principle Scholarship Grants to help with recruitment
- Relief Scholarships – $500 per chapter in COVID-19 Relief Scholarships to help brothers struggling financially
- Convention Rebate – $749 per chapter rebate due to cancelled 181st General Convention
- Recruitment Support – At-cost recruitment marketing materials made available to all chapters at BetaSpirit.com
- Recruitment Support – Multi-faceted summer recruitment coaching program to prepare all chapters for the coming year
- Billing Modification – Delayed fall billing 30 days to provide chapters time to adjust their fall budget and update rosters by September 1
While the methods and tactics may look and feel a little different this year given COVID-19 limitations, the Trustees believe strongly the General Fraternity’s servicing of all chapters and volunteers must be maintained at Beta’s traditionally high standard:
- Operational Support – All volunteers and chapters will continue to receive professional and timely coaching and support from Beta’s Administrative Office staff and business partners.
- Recruitment – All chapters will receive innovative coaching and resources as it relates to recruitment and the evolving campus landscape.
- Officer Transition – All officers and volunteers will receive effective support leading up to and throughout the upcoming officer transition period.
Recognizing short- and long-term needs must be balanced responsibly as we manage the Fraternity’s affairs, your Trustees also believe additional financial assistance is necessary to help chapters juggle a number of local stressors. As a result, chapters will notice adjustments on their forthcoming monthly statements and in succeeding communication:
- Relief Scholarships – $750 per chapter will be provided in additional COVID-19 Relief Scholarships (for a total of $1,250) from the Beta Foundation to help brothers struggling financially. A new resource to help chapters consider how best to distribute these funds is located here.
- Keystone Registration Fees – $1,750 per chapter in annual Keystone Leadership Conference registration fees will be suspended in light of the program being moved to a virtual experience this academic year.
- New Member Fee – $30 reduction in Beta’s new member fee ($151 -> $121) to lower the barrier to entry for men from all walks of life aspiring to join our Fraternity.
- Initiation Fee – $15 reduction in Beta’s initiation fee ($288 -> $273) for all holdover new members from last year and men joining the Fraternity this fall.
- Virtual Brotherhood Credit – Up to $15 per member credit for chapters whose institutions have moved entirely to a virtual education model. This credit may be prorated for chapters whose campus moves to a virtual education model later in the term.
- Zoom License – At a cost of $150 per Zoom license, the Fraternity will assist any chapter if their host institution does not provide a similar digital meeting service.
On average, this equates to an additional $3,250 in financial support per chapter or, roughly, $50 per member in a 70-man chapter. Totaling nearly $450,000 across all chapters, the Board of Trustees encourages chapter officers to also scrub their own local budgets to identify creative ways to provide important financial relief to all brothers.
Fee reductions will appear automatically on the monthly chapter statement as members are reported in MyBeta. Discounts will apply retroactively for those that have reported new members or initiations since July 1.
Chapter officers and volunteers should use this link to inquire about General Fraternity fees, request financial consulting assistance, apply for the Virtual Brotherhood Credit or request a Zoom license. A member of the Administrative Office staff will follow-up accordingly.
Ultimately, Beta Theta Pi is for life, and we have a duty to take temporary measures to ensure current brothers maintain their membership and faithfully honor the lifelong loyalty that comes with it. Certainly, the Board of Trustees and Administrative Office staff are doing all we can to modify Beta’s service and support platform while maintaining the high standards of operation our Fraternity is known for.
Brothers, together we are going to sustain Beta’s position as a leading fraternity in North America. You have that commitment from the Board of Trustees, and I look forward to staying in touch as we navigate the days ahead.
Yours in ___kai___,
S. Wayne Kay, Virginia Tech ’73
General Secretary and Chairman of the Board
House Corporation Members
General Fraternity Officers
Board of Trustees
Beta Theta Pi Foundation Board of Directors
General Fraternity House Corporation Board of Directors
Administrative Office Staff