Fraternity’s Cost of Membership at Lowest in Decades;
Financial Position Best in History and Continues to Strengthen
Separately, the organization today announced a further strengthening of its financial balance sheet by confirming that it paid off the remaining debt on the Fraternity’s office (condo) portion of the mortgage on its International Headquarters in Charlottesville, Virginia during its recently completed fiscal year.
“We are extremely proud of the Fraternity’s ability to keep undergraduate fees as low as possible, while effectively managing the non-profit organization’s cash flow and balance sheet,” said S. Christian Nascimento, Worthy Grand Master (President) of the Supreme Executive Committee (Board of Directors). “The Supreme Executive Committee takes very seriously its responsibility to be good stewards of our undergraduate brothers’ dues and the fraternity’s finances.”
The retirement of the Fraternity’s portion of the mortgage debt was achieved several years ahead of schedule. Overall, Kappa Sigma Fraternity reduced the total debt on its balance sheet by 50% during its recently completed fiscal year.
“The continued strengthening of the Fraternity’s financial position, which is at its best in our history, is a joint effort between our undergraduate chapters, alumni volunteers and our professional staff,” said Nascimento. “These achievements are the result of continued growth driven by our Champion Quest recruitment program, disciplined overhead expense management, and the ever-increasing maturity, accountability and responsibility of our undergraduate members in reducing risk and embracing Kappa Sigma’s Ritual and values-based fraternity experience.”