Finance

Liability Protection Program (LPP) Assessment: This fee is assessed to each participant of the LPP, which protects participants from general tort liability in regard to fraternal activities subject to exclusions and the terms of any insurance policies. The LPP assessment also funds development of health and safety programs, education at PIKE University events, and chapter risk awareness recognition and awards.

Chartered & Provisional Chapter Assessment: This assessment helps fund chapter service and resource programs including annual consultant visits, educational material for members, officers, and chapter programming, quarterly publication of the Shield & Diamond magazine, and additional assistance as requested by chapters. In addition, a portion of the Chapter Assessment helps subsidize costs for attendance and participation in PIKE University educational programs and awards.

Per-Initiate Fee: This fee is assessed once in the fall and once in the spring in even increments of $34.50. The fee was voted and approved at the 2012 International Convention by the Convention Legislation. This helps fund the continued advancement and improvement of PIKE University. It helps fund chapter service and resource programs and helps in providing a more well-rounded approach to assisting and improving chapters.

One-time Membership Fee: This is charged to the chapter for each new initiate and is due five days prior to initiation. This fee pays for the administrative costs of initiation, membership certificate, membership card, initiate badge, and a copy of The Oak for each new member – all in the new welcome kit! There is no new member fee charged by the Fraternity; however, chapters are encouraged to charge a new member fee in addition to an initiation fee.

* Any facility or property owned, operated, or leased by a chapter, by its host institution for the purpose of housing chapter members, or by a recognized house corporation. Any facility that displays Pi Kappa Alpha letters or is regularly used to hold chapter meetings or host other chapter events may be considered chapter housing. Chapters that opt to go substance-free receive a credit equal to the amount of the housing assessment.

As the treasurer of your chapter, you serve in a similar position as the chief financial officer of a business. You sign off on all expenses, and, in turn, you will be held responsible for the financial security of the chapter. Your decisions, your communication, your organizational skills, and your integrity will play a big part in defining where the chapter will go in the future.

To build a thorough budget, you might try working backward. To work backward, you want to first determine your set costs and administrative expenses, then calculate how much you think you want to spend as a chapter, and then set chapter dues after that. Many chapters make the mistake of setting dues at an “affordable” number but then run into issues when their expenses are greater than what they can handle. The Budget Tool on myPIKE is a great starting point when building your chapter’s semester budget.

There are numerous collection tips, tricks, and strategies that will help you collect outstanding dues. First and foremost, be transparent. If the chapter membership doesn’t know where their money is going or why, they are going to be more reluctant to pay. If you’re being transparent and still having issues, here are some more ideas you can try:

• Social & athletic suspension
• Report them to the International Fraternity through the Delinquent Account Report Form via myPIKE
• Identify delinquent accounts during your report at a chapter meeting
• Payment plans
• Incentives to pay in full at the beginning of the semester

You will find several resources below to help you get started, and there are many more, including a handbook, available in the myPIKE Resource Center. This includes, but is not limited to, sample chapter financial policies, sample payment plan form, delinquent account report form, and more.

There is no “inactive” member status with Pi Kappa Alpha. The only member statuses are new member, initiate, and alumnus. All members wishing to leave the Fraternity will need to resign if they have a $0 balance with the chapter or be expelled if they owe money.