| Financial InformationEach member of Sigma Nu pays about $7,910 per year, almost the same as living in a university dorm.
Detailed description of the fees
Room and board
Each member pays $7,000 room and board for one academic year. Board covers the member eating three meals each weekday, plus a Saturday brunch. Standard room accommodations include two or three members sharing a bedroom with a closet space, bunk bed system, renovated community shower/bathroom on the second and third floors, living room, computer room, dining room, study room and recreation room. A wireless database tied into the University's IT system runs throughout the first three floors.
Building fee
Each member pays an annual, non-refundable $200 building fee that covers any unexpected building expenses and selective house improvements.
Social fee
Each member pays to the undergraduate treasurer each semester, a non-refundable $200 social fee that covers chapter-sanctioned and University-approved activities including philanthropic endeavors, homecoming, Greek Week, formal recruitment week, and exchanges with sororities.
Risk management annual insurance premium
Each member living in the chapter house pays an annual, non-refundable $300 premium to Sigma Nu National for reasonably-priced, blanket, risk management insurance coverage.
Membership fee
Each member pays at the beginning of each semester a non-refundable $110 membership fee to Sigma Nu National.
Conclave fee
At the start of each semester the chapter pays $1,250 to Sigma Nu National. This covers the annual summer convention and related activities. Each member pays an equal portion of the conclave fee.
One-time new member fee
Each new member pays on-line to Sigma Nu National a one-time, non-refundable $90 new members fee. Due at the signing of the housing contract, this fee covers the new member's pin, fraternity manual, other materials and enrollment into Sigma Nu Nationals records.
One-time new initiate fee
Each member pays on-line to Sigma Nu National a one-time, non-refundable $220 new initiates fee. After a new member's first semester living in the house and he satisfies his GPA and Sigma Nu education requirements, he gets formally initiated into the fraternity as a lifelong member. The initiation fee covers his initiation pin, certificate, initiation card and permanent placement in the records of Sigma Nu at headquarters in Lexington, Virginia.
Security deposit
Each new member pays a one-time $500 security deposit. Due along with the first payment as outlined and agreed to in the housing contract, the security fee is held by the chapter in a non-interest bearing account. The member receives his security deposit at the termination or expiration of his housing contract, less any outstanding charges, payments, assessments, or any other amounts owed to the chapter. The member may not use the security deposit as partial payment for any delinquent or unpaid fees.
Out-of-house members fee
If approved by the Rho Chapter Alumni House Corporation, a fourth-year member may be allowed to live outside the chapter house providing the member pays at the beginning of each semester a non-refundable $525 out-of-house fee which includes the national insurance, dues and conclave fees.
Special assessment
In the event of an operating deficit by the chapter and upon written notice to the membership as outlined in the housing contract, a Special Assessment may be levied for the sole purpose of paying the operating deficit. This Special Assessment shall not exceed $800 per member for any one academic calendar year.
Please feel free to contact us with any questions about Rhos finances. We will get right back to you with an answer.
Elliot Rubenstein, treasurer, (513) 260-8336, emrt46@mail.mizzou.edu |
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