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They used to. Back in the late ‘90s/early ‘00s, it became completely futile for them to do it—they were spending tons of money to try and compete with the rest of the houses, only to miss quota by big margins every year. Eventually their numbers got so low they couldn’t afford to keep up their house. Their HQ let them operate as a niche sorority for the kind of girl who doesn’t want the stereotypical rush/sorority experience. Since then, and without the pressure to fill a huge house, their numbers have recovered somewhat. But I think they’re still pretty reluctant to change it up and participate in formal again, since they would be at a significant size disadvantage compared to other groups—and because there still are a lot of girls who want to be in a sorority but don’t want to go through formal rush or be in a huge house.