New membership fees are paid by a newly initiated brother upon his initiation into the fraternity. The national constitution states that no new member can be initiated without his fee being paid in full to the National Fraternity. The question arises, how much is this fee and what is it used for? A breakdown of the fee and its current amount is taken from the National Constitution and shown below.
The total Initiation Fee for each new Postulant shall be as follows:
For each Undergraduate or Local Alumni Postulant $335.00
For each Faculty/Administration Postulant $175.00
The Initiation Fee for an undergraduate or Local Alumni postulant shall be allocated as follows:
Registration Fee $75.00
General Fund $205.00
Reserve Fund $10.00
Garnet & White General Fund $40.00
Garnet & White Permanent Fund $5.00
The Initiation Fee for faculty and administration postulants shall be allocated as follows:
Registration Fee $65.00
General Fund $55.00
Reserve Fund $10.00
Garnet & White General Fund $40.00
Garnet & White Permanent Fund $5.00
The Registration fee is used to cover the cost of the badge, membership card and certificate that is issued to each new member.
The General Fund of the Fraternity is the current operating money for the Fraternity. This is a portion of the budgeted income used to fund the programs provided by the fraternity to each of the chapters.
The Reserve Fund of the Fraternity is the long-term investment funds or endowment of the Fraternity. The interest generated from these investments is used to fund operating expenditures of the Fraternity.
The Garnet & White is the regularly published magazine of the Fraternity. The amount received from each brother is about half of the projected cost of providing a new brother with a subscription to the magazine from the time of initiation until death. The additional cost is covered through the investment into the Garnet & White Permanent fund and the current endowment and savings of the magazine.