Finance Overview

While COVID-19 disrupts our lives and communities, Phi Sigma Sigma is committed to providing connection and support for our sisters around the world.

We recognize that COVID-19 has financially impacted many of our members. We are grateful for those who supported the Sapphire Circle Emergency Assistance Grant, which to date, has provided over $36,000 in immediate financial support to our sisters.

As we are perpetually in search of providing the premier membership experiences for today's sisters, we need your assistance in mobilizing progress by investing in our future.

STEPS SUPREME COUNCIL & HEADQUARTERS HAS TAKEN TO REDUCE EXPENSES AND COSTS TO MEMBERS

• In Spring 2020, the Phi Sigma Sigma Fraternity and National Housing Corporation refunded over $2 million in dues and room and board fees from the disrupted spring 2020 semester.

• Phi Sigma Sigma Fraternity has eliminated all travel and in-person events through June 30, 2021.

• Phi Sigma Sigma Fraternity and the National Housing Corporation made the difficult decision to both furlough and terminate employees to decrease overhead expenses. Phi Sigma Sigma implemented a hiring freeze.

• Phi Sigma Sigma Fraternity is eliminating office space to further reduce overhead costs and recognize the virtual nature of our current climate.

• This year, Phi Sigma Sigma expanded our alumnae dues program to help offset overhead costs.

Phi Sigma Sigma Fraternity is a non-profit corporation. As a non-profit, our goal remains to reallocate in the form of member services and deliverables. We are fortunate that our operations do not rely on individual donors and we remain focused on operating only with what we need to sustain the Fraternity’s core mission.

ANNUAL FRATERNITY DUES & FEES

For 2020-2021 Phi Sigma Sigma moved to an all-inclusive Fraternity dues model, consolidating additional fees previously billed to members or chapters including insurance, Convention tax, technology fees, etc. Fraternity dues and fees are due each year and are paid in the fall semester. This year’s Fraternity dues fully or partially fund the following receivables:

CHAPTER LOCAL DUES

Historically each chapter establishes local dues to fund chapter activities and programming. Due to COVID-19 and the limitations on in-person chapter activities, Phi Sigma Sigma has temporarily instituted a pay-as-you-go fee structure to reduce cost and allow members to control their financial stability. Local dues for fall 2020 may include the following:

• Activities & Events – For the fall, we encourage chapters to prioritize a balanced calendar that includes programming that does not have an associated cost. However, programs that require a budget will be optional and individuals must prepay on Billhighway. This will enable members to customize their participation and make any necessary accommodations due to the financial or health impacts of COVID-19.

• Panhellenic / Greek Council Dues – paid by each member as determined by the campus Panhellenic or Greek Council.

• Recruitment Fee – Limited only to critical recruitment costs as determined by the campus’ chosen format. Members may be billed a recruitment fee to cover associated costs (video production, technology, apparel, supplies, etc.)

• Composite Fee – If a chapter is already under contract and able to schedule and shoot a composite this semester, members may be billed a sitting fee on Billhighway.

• Apparel – Orders limited to vendors that offer group orders, purchased individually for financial and safety purposes.

• Formal Ticket – Chapters with a contract for a social event that was unable to take place in spring 2020, will be able to reschedule with the venue once it is safe. If state, county and university restrictions permit, members will have the option to purchase a formal ticket.

HOUSING COSTS:

Phi Sigma Sigma and the National House Corporation have thoughtfully prepared for the return of our residents. In the interest of health and safety, the NHC will include the following at all facilities: cleaning seven days a week, hand sanitizer stations and new toilet seats with lids in all bathrooms. Additionally, we have reduced capacity at several facilities to ensure social distancing. Facility-specific plans can be viewed here. Action taken:

• Suspended Parlor Fees – Until otherwise notified, parlor fees have been suspended. Non-residents will not have access to the chapter facility until further notice. We will continue to re-evaluate access for each facility every 4-6 weeks with an option to reinstate entry with a prorated fee.

• Extended Room Agreements at No Additional Cost – We have extended the length of the room agreement by opening our facilities early to accommodate an extended move-in and our facilities will remain open continuously until December 22.

• Guaranteed a Secure Place for Residents to Stay Regardless of Course Delivery –The chapter facility will remain open to residents in the event of the university commencing or transitioning to online instruction or if the university shuts down the campus for any reason directly or indirectly to COVID-19. Should a resident choose to vacate the facility for any reason, refunds of room and/or board will not be provided while the facility remains open.

PHI SIGMA SIGMA FOUNDATION AND PHILANTHROPIC GIVING:

• In 2018, Phi Sigma Sigma discontinued the requirement for a minimum donation of $35 per sister to the Phi Sigma Sigma Foundation. While chapters are still encouraged to host philanthropic events to benefit the Foundation, there is no required minimum chapter or member donation. Instead, we encourage individual donations to the Phi Sigma Sigma Foundation to model the responsibility of philanthropic engagement and giving.

• We encourage our individual members to make direct donations to support organizations and causes, as they see fit. Phi Sigma Sigma Fraternity does not make direct donations to outside organizations, including but not limited to FSPAC, BLM, etc.