kappa sig house
by: Fuqitup
Commentby: Ya
Nobody is moving out, all the boys there have signed leases for this full year. In accordance with spring rush, most the same boys will be renewing their lease for next year at Kappa Sig.
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by: lol
haha, you're obv a geed. the house isn't owned by ksig nationals or sig chi, it's owned by the chapter alumni. look up kappa sigma gamma rho housing corporation.
most frats setup separate 501(c)3 corporations for the house that is separate from the 501(c)7 social fraternity chapter to protect their investment in case the frat gets sued. it also means they don't have to pay the irs property taxes and can deduct donations to the housing corporation - you can't deduct fraternity dues.
pike, sig chi, beta, fiji, sig ep, sae, etc all have their own local housing corporations too. it's just a basic way of running the chapter.
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by: Bye
So it's going to sit there empty? I heard all of the guys have to move out after this semester.
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