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Year End Deadline for CARES Act Tax Advantage

As we approach the end of the calendar year, I wanted to remind you of the following tax provisions provided by the CARES Act that may impact your charitable giving for 2020. You can explore ways of giving at http://www.PsiU.org/give

  • Are you itemizing your deductions this year? Under the CARES Act, itemizers may deduct up to 100% of their adjusted gross income (AGI) for cash contributions made to Psi Upsilon in 2020. This is up from the standard 60% limit in prior years.
  • Do you plan on taking the standard deduction? The CARES Act allows for an additional, “above the line” deduction for cash contributions made to Psi Upsilon in 2020.  This deduction is limited to $300 for an individual of $600 for couples. Normally, no additional deduction is permitted when taking the standard deduction.
  • Are you considering a corporate gift? The AGI limit for cash contributions was also increased for corporate donors, allowing corporations to deduct up to 25% of their taxable income. This is an increase from the 10% limit in prior years.
  • The CARES Act has suspended required minimum distributions from retirement accounts for 2020.  However, individuals may still make a quailed charitable distribution of up to $100,000 from their IRAs, without the distribution being added to taxable income.

Should your donations in 2020 exceed your AGI deduction limits, you may still carry forward excess deductions for up to five subsequent tax years.

As always, I encourage you to consult with your tax and legal advisors when considering how these provisions may impact your charitable giving this year.

Thank you for your support and for being such an important part of the Psi Upsilon community.  On behalf of all of us, we send warmest wishes for a safe and happy holiday season.

Year End Deadline for CARES Act Tax Advantage Read More »

Fall 2020 Update

Brothers,

To say this Fall has been unique would be an understatement and as Executive Director of Psi Upsilon I wanted to take a moment to pass along a progress report to let you know how our chapters are performing. This summer, as we were trying to predict the fall, there was a lot of uncertainty and anxiety. Now that we are into October, and most campuses are starting to learn their new routines, we are finding that ‘fraternity’ can truly endure in this environment. While no one will deny that this semester has offered distinctive challenges, an organization that offers “A Mighty Friendship” has a place on college campuses, possibly more so now than ever before. If you aren’t familiar with how your chapter’s campus has responded COVID-19 The Chronicle of Higher Education has created a helpful resource (you will need to create an account to view the webpage, but it is free).

Retention was a primary concern with most of our campuses offering few opportunities for in-person classes. Like many fraternities, we anticipated a drop in membership of about 30% from prior years. As of now I am thrilled to report that we only saw a 15% drop in membership. Recruitment is the next concern, and while our Fall statistics are still incomplete, chapters are performing similar to prior years and are reporting an average reduction of only 10% of their Fall New Member classes. I have been impressed with the adaptability of our members to pivot to a hybrid, or even completely virtual, recruitment environment. The good thing is the feedback we’re receiving from many of our chapters is that since they are recruiting and taking classes in a remote environment, transitioning New Member Education to a virtual experience isn’t as daunting a task as we anticipated for them.

Our chapter support model has changed a lot without in person chapter visits, but I think this has accelerated some necessary modifications rather than hindered the support we offer. I would break this new model into four components: Improved Assessment, Consistent Support, Chapter Collaboration and New Opportunities.

Improved Assessment: We’ve had a committee reviewing how we measure chapter performance, and prior to COVID-19 were developing a way to better evaluate chapter performance and mindsets over time – we’ve collected many quantifiable items for years (GPA, Service hours and money raised, retention of new members, size) in the past but knew this was an area to improve and only tells a part of a story. We just introduced a new survey this fall, asking every chapter to report back on their perceived performance, strengths, and weaknesses. This data will help us guide our conversations and over time should lead to some meaningful observations about how to better assist chapters.

Consistent Support: While staff have always made it a priority to visit chapters and respond to needs as they arise we’ve found ourselves to be more proactive in this environment. Jason Allen, our Director of Chapter Services and I have had regular contact with the leadership of our chapters and pivoting to remote meeting software has facilitated this. While I still believe the in person handshake matters, no one can deny the ability to set up regular Zoom chats with leadership has built some stronger relationships. The fact that remote meetings are more normalized in the current environment has helped greatly.

Chapter Collaboration: One of the advantages of an organization like Psi Upsilon is our membership. We have been holding regular Town Hall meetings between alumni advisors and leadership, as well as chapter officers, to not only improve transparency but allow one another to connect and share best practices. The input and ideas shared during and in between these meetings from our leaders was indispensable as we designed guidance for this year. An example of this in action is the fact that undergraduate members of our Delta (NYU), Phi (Michigan), Eta (Lehigh) and Alpha Omicron (NJIT) chapters have been developing an e-sports league to encourage interaction between chapters.

New Opportunities: Another development that has been evident in this current environment is a more collaborative effort across organizations and our professional partners. Whether this is town hall meetings from our insurance company, the fact we were able to make the annual Foundation for Fraternal Excellence seminar accessible to all our board members or finding other events that would be meaningful to our members like “Dignity U” (A program for Chapter Officers to consider how dignity impacts a person’s own thoughts and actions, in both their lives and in their respective organizations) or “Brotherhood, Sisterhood and the Power on Belonging” (A program for advisors hosted by Pennington and Company). We have been able to distribute this information to those who need it. Even 10 years ago these opportunities were not as widely available. The fraternal marketplace has always been incredibly collaborative on a professional level, and I am truly excited about being able to make that collaboration accessible to more of our brothers. We have also been making these opportunities available on our website when we can – either on our events page or our Covid-19 resource page.

I would personally like to thank the continued involvement of all our volunteers – at the chapter level to our Foundation and Executive Council. Without their ongoing commitment and generosity we would not be able to achieve so much. If you would be interested in getting more involved, please take a moment to review our involvement page, fill out an interest form, and feel free to contact me.

I am always honored and humbled to be able to serve as the Executive Director of Psi Upsilon and excited about the great future we have ahead.

Yours in the Bonds,

Thomas Fox, Omicron ’00 (Illinois)

Executive Director

Psi Upsilon Fraternity

Fall 2020 Update Read More »

New Study Shows Fraternity Members More Engaged and Satisfied

From the North American Interfraternity Conference:

Long-time prominent higher education researcher Dr. Gary R. Pike of Indiana University recently presented conclusions of a study on fraternity and sorority membership at the Foundation for Fraternal Excellence Seminar in advance of publishing these results. The study finds fraternity and sorority members are significantly more engaged than non-members, report greater gains in learning and are more satisfied with their college experiences.

Dr. Pike finds that fraternity and sorority membership is associated with significantly higher levels of engagement on a number of measures including high impact practices, collaborative learning, student-faculty interactions, perception of a supportive campus environment and discussions with diverse others.

Some specific conclusions found in Dr. Pike’s study included:

  • Fraternity/sorority membership also indirectly improved learning gains, acting through higher levels of student engagement.
  • Despite being less diverse than students in general, fraternity/sorority members reported higher levels of interaction with people different from themselves than did other students.
  • Membership in a fraternity or sorority is associated with greater involvement in curricular and co-curricular activities, promotes student learning and development, and promotes satisfaction with the college experiences.
  • The largest positive effects were generally found for first-year students, arguing against deferring recruitment until the second semester or second year.
  • The findings of this study indicate that fraternities and sororities are not antithetical to the values of American higher education.
  • Problems found throughout higher education including alcohol use and abuse, hazing, sexual assault and academic achievement (i.e., grades) remain in Greek-letter organizations as well. Effectively addressing these issues will better allow fraternities and sororities to contribute to the academic and social life of American colleges and universities.

Read the Full Press Release from the North American Interfraternity Conference Here.

Resources:

New Study Shows Fraternity Members More Engaged and Satisfied Read More »

25th Executive Council President Elected.

On Saturday, July 25th, Jeremy McKeon, Eta ’08 (Lehigh) became the 25th president of the Executive Council at its Annual Meeting of the Directors. Jeremy joined the Council in 2011 and has served as secretary and vice-president previously. He was also a past president of the Goodale Literary Association, the alumni association of the Eta Chapter.

Jeremy’s predecessor, Evan Terry, Epsilon Phi ’93 (McGill University) now joins his fellow past presidents as a Life Member of the Executive Council after over 20 years of service on both the Foundation and Executive Council.

Jeremy graduated from Lehigh University with a Bachelors degree in Civil Engineering and continued his studies at Columbia University and received his Master’s degree in 2011. He is currently the CEO of Azimuth Engineering Group, an engineering services firm he founded in 2018. He currently lives in Northern New Jersey with his wife, Vanessa, and son Caspian.

The other elected officers of the Executive Council are:

Vice President – Christian Brydges, Nu ’95 (Toronto)

Secretary – David Hollis, Gamma Tau ’11 (Georgia Tech)

Treasurer – Timothy Zepp, Chi Delta ’08 (Duke University)

25th Executive Council President Elected. Read More »

Psi U PPE Masks

Answering requests from many alumni and undergraduates, Psi Upsilon has some resources about masks to share.

#1 We’ve partnered with Threadless to create some Psi U branded cloth masks that are available in Premium, Regular, and youth (small & large) varieties.

100% of the profits from the sale of these masks goes to MedShare, a 501 c(3) humanitarian aid organization dedicated to improving the quality of life of people, communities, and out planet by sourcing and directly delivering surplus medical supplies and equipment to communities in need. Bulk orders of these designs may be possible by arrangement.
https://psiupsilon.threadless.com/accesso…/face-mask/premium

#2 Our vendor, GreekGear, has licensed Psi U masks and neck gaiters. https://www.greekgear.com/psup-hats.html

#3 If your chapter or alumni organization would like to order custom masks for Rush or an event, either singly or in bulk, you can create custom designs by ordering through CustomInk https://www.customink.com/ndx/#/productCatalog?rs=w

Psi U PPE Masks Read More »

Ashley Stein promoted to Director of Member Services

On July 1st Ashley Stein is being promoted from Administrative Assistant to Director of Member Services for Psi Upsilon Fraternity. Her role will now include working with alumni and undergraduate officers as they utilize MemberPlanet, our online database, to facilitate communication within chapters.

Ashley joined our staff in October of 2019 and prior to that worked in administration, working with animals, and taught English in South Korea. Originally from Fishers, IN, Ashley graduated from Purdue University and also took classes at the University of Rennes in France.

Ashley Stein promoted to Director of Member Services Read More »

From the 1982 Winter Issue of the Diamond comes “The Saga of the Missing Pin”…the story of the reunification of a brother with his missing badge over 40 years and many miles!

(Missing your brother’s badge? You can order a replacement, and other great Psi U gear like cufflinks, here! https://psiu.org/merchandise/)

Saga_2

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