2015-2016 Fee Structure Announcement
INDIANAPOLIS - The Offices of the Grand Chapter is pleased to announce the 2015-2016 Fee Structure for Tau Kappa Epsilon. Following a meeting between the Grand Council and several members from the Fraternity’s Professional Staff, the upcoming year’s fee structure has been finalized several months ahead of schedule.
Chief Executive Officer Donald E. Aldrich shared of the approved fee structure, "I'm very excited that our Professional Staff was able to design a budget approved by the Grand Council that kept fees flat for the upcoming year. After reducing fees last year, we continue to keep costs down and ensure our members' dollars are invested properly."
By finalizing the 2015-2016 Fee Structure months in advance, chapters and colonies will have the ability to properly plan for next year’s expenses earlier than ever before. Additionally, candidates and members can rest assured knowing that dues are not increasing.
Below is a description of each fee for the upcoming academic/fiscal year, which will take effect June 1, 2015.
Fee Structure 2015-2016
Candidate Fee - $75 per man
All candidates must pay this non-refundable fee, which is due within 15 days of bid acceptance. Officers must register each candidate using the TKE Chapter Module. Each candidate will receive a validation email to complete their registration process and pay their fees via MyTKE.org. After 15 days, the chapter or colony becomes responsible for the Candidate Fee even if the candidate drops out before initiation. Chapter officers should use the TKE Chapter Module to monitor which candidates have paid their fee to the Offices of the Grand Chapter.
Initiation Fee - $225 per man ($300 total with Candidate Fee) or One-time Initiation Fee Option - $675 per man ($750 total with Candidate Fee)
Prior to initiation, each candidate must pay an Initiation Fee, which should be done using MyTKE.org. Initiates who pay the One-time Initiation Fee Option will not have to pay Annual Membership Fees for the rest of their collegiate careers. If the Initiation Fee is not received within 15 days of initiation, a penalty equal to 40% of the Initiation Fee ($90) will be added your chapter statement.
Annual Membership Fees - $150 per man for the year (or $90 per man each semester)
The best option is to pay your AMF in full for the year, due by October 1. The chapter or colony will save $30 per man by paying in advance for the full year. If choosing the split option, the first installment of $90 per man is due October 1 and the second installment of $90 per man is due no later than March 1. All returning active members of TKE chapters and colonies are obligated to pay this fee.
Graduate students have the option to be active members of a TKE chapter or colony. Any graduate student wishing to be an active member must pay Annual Membership Fees. Graduate students include all students who have received a bachelor's degree but are still taking classes at a college or university.
Founders Housing Fund Fee - $10 per man per semester
Starting in 2014-2015, the Grand Council took steps to realize a long-standing dream for TKE Nation: to establish a long-term plan to help secure, maintain, improve and re-establish housing at active chapters. This action by the Grand Council incorporates a fee of $10 per semester for all initiated collegiate Fraters, due October 31 and March 31, to be used exclusively for the benefit of chapter housing through the Founders Housing Fund. Any member who initiates in the fall semester will be billed this fee in the spring.
Risk Management Fee - $200 per man per year
James R. Favor & Co. will bill and collect your Risk Management Fee. Each chapter/colony will receive their invoice from JRF & Co. by August 30, due by October 15. If the fee is paid in full by September 15, the group will receive a credit on their Chapter Statement for 10% of their Risk Management Fee, which can be used to pay for any other fees owed to the Offices of the Grand Chapter. Alternatively, a chapter can set up payment plan with the OGC with 50% due on October 15 and the remaining payment due on March 15.
Chapter Assessment Fee - $500 single payment; or 2 payments of $390 (Total of: $780) per Chapter
The chapter assessment fee is an annual fee each chapter pays to support the TKE Nation ensuring dependable access to chapter services and resources. For 2015-16 it will be due in two equal installments of $390, one due October 31 & the second due March 31, or a single payment of $500.
Conclave Savings Plan - $250 per semester
Conclave installment payments are due no later than October 31 for the fall semester and March 31 for the spring semester. The CSP is a savings plan offset the cost of sending a delegate from each chapter to the 2015 Conclave. There are 4 payments towards this per biennium.
For more information, please contact:
Brett Widner
Chief Financial Officer
317.872.6533 Ext. 282
bwidner@tke.org