2016-17 Assessment Schedule
Initiation Fee - $230 per initiate due at the time of initiation.
Entitles an initiate to lifetime membership in Psi Upsilon Fraternity pursuant to Psi Upsilon Constitution Article IX §1: "Membership in any chapter and payment to the Fraternity of the initiation fees shall constitute membership in the Fraternity."
Tax - $190 per active member (not including this year's initiates) due on October 1 or upon return from inactive status.
The initiation fee and tax provides the operating funds necessary to run Psi Upsilon Fraternity each year. The International Fraternity also receives revenue from educational grants from the Psi Upsilon Foundation and regular giving by dedicated alumni. The International Fraternity provides a wide range of services and resources to its chapters and alumni including campus visits, The Diamond, educational handbooks and manuals for officers and alumni, member database management, membership directories, newsletters (Legacy, The Review, Psi U Today e-newsletter), Archons Academy, Leadership Institute, Convention, scholarships, expansion and reactivation of chapters, chapter retreats, preservation of historical documents in the Archives, insurance program management, mailing services, web site, public relations, legislative advocacy, fund raising, crisis management, interfraternal relations, college and university relations, and event planning.
Chapter Services Fee - $1,900 per year paid in 2 installments on November 1 and March 1.
Provides the following for chapters:
Registration, travel and room for president to Archons Academy
Registration and room for two official delegates to Leadership Institute and Convention
Coordinate publication and mailing of newsletters (chapter pays for paper, postage and design)
Broadcast email to chapter undergraduate and alumni members
Alumni Key and certificate for Outstanding Junior
Awards at Convention
Risk Management Assessment - Provides $500,000 comprehensive general liability insurance for every chapter and alumni association and $2 million comprehensive general liability insurance for every house corporation. Assessment is based on a number of factors including:
Number of undergraduate members (as reported on the end of year report)
Housing (housed or unhoused)
Alcohol free chapter or chapter house
Past risk management history
This assessment also includes the Member Accident Protection Program (MAPP) for all undergraduate members and pledges ($100,000 coverage for medical expenses resulting from accidental injury incurred during the academic year). The Risk Management Assessment is not eligible for any sort of a payment plan and failure to pay on time can result is a suspension of operations until the chapter can pay in full.
Late Fees - Any chapter that has not paid its fees or taxes in full by its respective due date will receive a late fee of 1% per month, or $10 total per month, whichever amount is greater.