409 Elizabeth Restoration-Students arriving

Brothers,

We are gratified to be able to notify you that after a 5-year absence, the Gamma Eta Chapter of Phi Kappa Tau at East Carolina University is hitting the restart button. Through the persistence of several alumni, we have embarked upon reestablishing Phi Kappa Tau. Six years ago, the chapter was in disarray and ultimately suspended by the University and the National organization. The Board of Governors and the Alumni Association were able to make the best of a problematic situation and leased the house to another fraternity, which generated reasonable cash flow and covered basic maintenance costs. After much persuasion with the University and National Headquarters, we have established a new pledge class and taken control of the House.

While the allegations that led to the suspensions were unfounded, there is no doubt that many of our wounds were self-inflicted. Gamma Eta is emerging from an unhealthy and self-defeating period of internal strife and polarization. With this unique opportunity to hit reset, we must move forward with shared interests and goals. Financial stability is sorely needed in this organization. Too often, we have seen fiscal impropriety that is ultimately a contributing factor in taking Gamma Eta down.

It is time to establish transparent fraternal governance and transparency among alumni and members. We have found a fundraising entity to further this goal. This group has no interest in collecting dues or administering the chapter, board of governors, or the housing corporation. While we believe that financial governance, compliance, and transparency should be adopted across all these organizations, our goal with the fundraising arm for the Gamma Eta Chapter (Third and Rotary) is to act more strategically to preserve our legacy. Supporting the repairs to bring the house back to its original condition is our short-term priority. However, we have a more strategic vision of building an endowment that backstops the fraternity. We intend to operate openly and have the assets within Third and Rotary managed by a third-party accounting firm. By doing things this way, we can avoid the opportunity of abuse of the assets.

Important updates:

• We are currently in negotiations with Sig Tau regarding the damages to the house; we will provide updates as the situation is settled

• Repairs to the house are underway; we anticipate $75,000 will be needed before the initial needs are covered

• While the house needed significant repairs, financial we have been in solid shape from rent collections over the past five years with an approximate balance of $69,000 heading into the spring

• This Housing Corporation has been quickly preparing for the fall semester. The repairs are significant, funds were immediately needed, and the operating balance has been reduced accordingly

• We are launching a capital campaign of $160,000 by homecoming 2023 to replenish the housing corporation operating account and provide for the continued repairs needed in the house

• The new associates recruited by National are eager and anxious to meet our alums and learn the history of Gamma Eta

More fraternities are on campus than ever, and the competition is fierce in attracting quality pledges. Our house will always be our biggest draw; we need to make the necessary repairs and improvements to maintain such an essential part of our legacy. Most importantly, we will also have the proper oversight and relationship with the undergraduates to ensure the house is treated with respect in the future.

With the involvement of the alums and the dedicated fundraising corporation, the chapter will likely have increased resources to support the necessary repairs and further improve the House. This collaborative effort between alumni demonstrates a commitment to the fraternity's long-term success and enhances the chapter's facilities and experiences for future members.

There have been some strenuous efforts made by a small group to get us back on track. Please consider supporting their efforts financially, but also consider participating on one of the boards in the future.

Best regards,

Gamma Eta - Fundraising Council (Third and Rotary Corporation)

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