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Corporations may establish accounts within the NC State Foundation to accept donations from alumni for the purpose of funding portions of their chapter house that are deemed for "educational use" by the IRS. Corporations may also fund their infrastructure assessments through the Foundation. Please contact the Department of Greek Life for further details.
In April of 2009, Congresswoman Shelley Berkley (D-NV) and Senator Pat Roberts (R-KS) introduced H.R. 1547 and S.781 respectively, to amend the Internal Revenue Code to permit organizations (such as many national fraternal organization foundations) to accept tax-deductible contributions for collegiate housing and infrastructure improvements. Currently, donations to these foundations or local Housing Corporations for non-educational housing improvements are not tax-deductible. This proposed legislation could greatly enhance the ability of organizations to fundraise.
Patton Boggs, a DC lobby firm, is working with the NIC, NPC and Association of Fraternity/Sorority Advisors on this important legislation, and many other items of interest to fraternities and sonorities. To find out how you can help (including template letters to contact your representatives), please visit their website at http://www.fraternalcaucus.org or petition your local congressmen and senators to support via Facebook at http://www.cfcfacebook.com.