The Beta Zeta Alumni Corporation has been approved for tax-deductible status in partnership with the Society for the Preservation of Greek Housing (SPGH), a 501(c)(3) foundation headquartered in Champaign, IL. All contributions of $1,000 or more are now fully tax-deductible according the current IRS Tax Code.
What is the Society for the Preservation of Greek Housing?
Originated at the University of Illinois in 1988. SPGH has held Public Foundation status since 1992. They have awarded over $20 Million in grants to date for Preservation and Renovation of chapter houses across the country. Awarding grants is based upon health and safety code requirements, major structural rehabilitation or restoration, and interior or exterior rehabilitation or restoration. The foundation’s main goal is to educate the public about the historical and architectural significance of fraternity and sorority houses, and to preserve and document the unique architecture of these houses.
A monetary gift to the Society for the Preservation of Greek Housing is tax deductible under section 501(c)(3), 170(c)(2)(B), 2055(a), and 2522(a)(2) of the Internal Revenue Code of 1986. Contributions to the Society can only be spent on historic renovation and not social or operational functions.
Gifts of Stocks and Bonds
Part of the benefit of our partnership with SPGH, alumni may contribute stocks and bonds to the foundation, and avoid a capital gains tax, as well as claiming the fair market value of the contributed securities on the day that the transfer is made. This is particularly advantageous for alumni who may own highly appreciated stock.
The broker for the Society is Deborah Arch at Busy Investments
Her number is 217-365-4829.
Gifts from your Retirement Account
If you’re 70 ½ years old, you may also make a direct transfer from an IRA, 401(k), or 403(b) plan to the SPGH—Theta Chi at Michigan State Fund, and avoid paying income tax on the funds withdrawn. It should be noted that these gifts are not tax-deductible, since no taxes were withheld from your retirement plan upon deposit. The advantage to giving through a retirement plan is that it keeps your taxable income lower by contributing the cash directly, rather than withdrawing it and having it count as regular taxable income.
Contributions by Check
Alumni who wish to contribute by check may simply make their contribution payable to:
SPGH—Theta Chi at Michigan State
Alumni Corporation of Beta Zeta
c/o John Ringlein
23050 Pilcher Road
Plainfield, IL 60544