Boards Transition

The trustees meeting of Sunday 19 February 2012 was a quiet watershed in the history of TKE Beta-Pi.

Several years ago, the trustees began the process of separating the facilities management and collegiate supervision aspects of operations. The chapter was incorporated separately from the board and the one employee, the cook, was assigned to the chapter corporation.  This two-boards organization is not uncommon in fraternities that own property and both corporations are 501(c)(7)s under TKE HQ. Both are on good standing with the state and with the IRS.

On Sunday, the corporations took giant steps toward completing that separation.

Separate Portfolios

The property corporation, “TKE of Georgia, Inc.” has existed for decades as the only corporation of record for TKE at Georgia Tech. This corporation is governed by the trustees–the BOT that everyone knows. Going forward, the trustees will concern themselves with all things about facilities, including the ongoing construction. This will greatly shorten and focus BOT meetings.

The chapter corporation, “Tau Kappa Epsilon Beta-Pi Chapter, Inc.” is governed by the advisers–referred to as the BOA. The advisers will concern themselves with everything about membership from recruiting through alumni relations. Alumni communications and event planning are now the responsibility of the chapter corporation and it will assume control of the bank account that receives alumni annual fund donations. It will also assume responsibility for oversight of all collegiate chapter operations including finances and member development. The resident adviser will report to the BOA. Member development will be the prime area of focus in the coming year for the BOA as this area of operations has not seen the same level of improvements as facilities and management and kitchen operations have recently.

TKE HQ has been notified to transfer its charter from the property corporation to the chapter corporation, completing that separation from HQ’s point of view.

Both boards will contribute to the management of the upcoming capital campaign.

Membership

The boards will cooperate formally as lessor and lessee. There will be a joint meeting each spring but there will be no overlapping membership.

At the meeting on Sunday, three BOT members resigned from that board in anticipation of moving to the BOA.  Michael Smith, Richard Sapp and Karl Paul will join David Adcock as members of the governing board of the chapter corporation. David is currently talking with other alumni about rounding out the membership of that board.

John Reagan, Gary Minor, Scott Smelter and Darrell Sumner will remain with the property corporation–the BOT. John will serve as chairman and Gary as vice-chairman through the end of 2012.

Expect more news regarding membership and officers of both boards soon.

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