What does House Corp do?
737 Comstock Avenue Inc. (a/k/a House Corp.) is a 501 (c) (7) (social club) non-charitable tax-exempt corporation managed by officers elected by a Board of Directors (made of Sigma Chi Alumni) who volunteer their services for the operation and management of the Sigma Chi Chapter House located at 737 Comstock Avenue at Syracuse University. We collect the room rent, board fees, and parking and other fees. We are also responsible for overseeing preparation of financial statements, preparation and filing of tax returns and oversight of business controls. The undergraduate chapter will collect house dues for their own functions including chapter dues.
The House is operated on a “revenue is equal to operating expenses” basis. Room rent pays for property insurance, water, gas, electricity, real estate taxes, mortgage expenses, maintenance costs, trash removal, internet and cable T.V. expenses, snow removal, landscaping, reserves for replacements, and any other repair and maintenance items. Board fees pay for food costs, cook and kitchen staff salaries, kitchen and dining room utensils and equipment, equipment repairs, payroll taxes, and supplies. Typically, the cost of living in the Chapter House is around 10% less than the cost of university housing.
Hank Suominen PsiPsi 1974, SU 1978
President & Treasurer