T R E A S U R E R ‘ S R E P O R T
Clarity Regarding Chapter Funds versus AVC Funds
First of all, let me say thank you to all of those who have donated in any way to support the AVC. We really appreciate your support as we are able to utilize the funds and time commitments to organize events and bring brothers together.
For those of you who are unfamiliar with the situation, I’d like to explain the financial standing we find ourselves in presently. As of 10/20/2021, we have a positive balance with Nationals of roughly $12,500. This money has restrictions on it’s use as it was set up for the purpose of serving the undergraduate chapter of St John’s University. We are currently discussing the limits and restrictions of these funds with our District Governor, Ryan Hayes. It is our belief that we will be able to use this money in the event that we are permitted to reestablish our charter at St John’s. However, since we don’t currently have an active undergraduate chapter, these funds are effectively locked to us at the moment. We can neither donate to nor withdraw from these Chapter Funds.
On the other hand, since the Alumni and Volunteer Corporation is set up as its own legal entity, we can establish for ourselves an account that will house New York Rho’s AVC general fund. This fund will be the operational budget and is intended to support alumni activities & events such as: Celebrations & Events; Education & Learning; Volunteer & Services; Sports, Teams & Clubs; Accidents & Emergencies; Medical, Illness & Healing; as well as Funerals & Memorials. Ultimately, the AVC’s general fund will be for the betterment of the NY Rho Alumni Experience, but will support events for our brothers, nationwide. Many of you have been able to attend recent events, like the Barbeque and the Dominoes Tournament. The AVC was also able to purchase a flower wreath for the memorial of Stephen LoRusso’s mom. These are examples of the kinds of events and gestures the AVC would like to continue to provide through the use of the general fund. To do this, we need your support as fellow NY Rho Alumni. So far, 100% of the funding to date (with the exception of the funds raised for Conclave) has come from less than a dozen brothers. Just imagine what we’ll be able to do with the support of the entire Alumni base.
We have recently set up a GoFundMe page which will serve as a system where brothers who want to donate to the NY Rho AVC general fund are able to do so. I’ve set a current goal of $15,000, which assumes that 300 brothers can donate $50 a piece. I feel this is a reasonable starting point for us to raise over the course of the next 12 months. Please note that any donations to the AVC general fund will not be tax deductible.
At this point in time, we will also be holding individual fundraisers, periodically, in the form of raffles and swag sales. Look for more information about these events on future newsletters, Facebook, and/or Discord. We are currently selling raffle tickets for a custom YETI® tumbler. For more information please read the article below.
FUNDS & RAISERS
Recent Raisers:
Conclave: $2,681
50/50 Raffle: $115
Current Funds:
Chapter Balance: $12,500
AVC Balance: $5
Upcoming Raisers:
YETI Cup Raffle: November 01, 2021 – November 08, 2021
Drawing: November 09, 2021
Special shoutout to the highest donor of the year, Cesar Pozo, who has not only donated $906 directly to the AVC thus far, but also funded his remaining costs for the trip to Conclave (an estimated $1,500) as well as a $1,200 donation to SigEp while at Conclave. In addition to the financial donations, Cesar has contributed a large amount of time in his efforts to help the AVC with all that they’ve accomplished this past year.
Thank you to our handful of primary donors thus far whose support has funded 100% of the Barbeque, Dominoes Tournament, Memorial Wreath, and First Annual Awards:
Johnny Sang Yan, Ryan Costello, Steve Fils-Aime, JP Diaz, Rico Otway, John O’Dowd, Anthony Ayala, Gabriel Vazquez, Cesar Pozo, Bolivar Rodgriguez, & Jorge Marte