Fraternity Management Group

Financial, Operational & Property Management

Click here to fill out our Financial, Operations & Property Management Questionnaire/Quote

There are three assets that together lead to a successful fraternity or sorority operation:

National and Local Alumni Organization – Professional Staff and Local/Regional Alumni Volunteer Support
Undergraduate Chapter – Chapter Operations
Chapter House – The Physical Property

FMG will help your chapter develop and maintain a financial & property management plan. We consider the following when developing the plan:

100% managed by the undergraduate chapter or
100% managed by the undergraduate chapter & alumni volunteers or
Partnership between FMG and the undergraduate chapter and/or alumni volunteers

Fraternity and sorority houses can be valued in the $500,000 to $5,000,000 range. Annual budgets can be from $100,000 to $700,000. Undergraduate members and/or alumni volunteers typically will not have the time and/or capabilities to handle day to day financial & property management. FMG is there to help you meet these needs.

Financial Management Services

You may choose from the following services:

Accounts Payable – Bill Paying
Accounts Receivable – Invoicing For Dues, Meal Plan, Rent, Campaign Pledge Collection, Late Payment Invoices &/or Calls, Etc.
Budgeting – Financial Management Plan, Undergraduate Chapter Budgeting & House Corporation Budgeting
Cost Market Analysis – Dues, Food & Rent
Monthly/Quarterly Financial Statements – Balance Sheet, Trial Balance, Income & Expense Statement, Detailed General Ledger & Bank Reconciliation
Payroll – Preparation of Payroll, Quarterly Payroll Reports & Annual Payroll Reports
Resource Development – Resources Are Developed for The Chapter Website (Master Lease, Individual leases, Financial Management Plan, Sample Budgets, Etc.)
Tools – Web-Based Financial Management Tools Will Depend On Your Level of Service

FMG staff will help with budgeting, cost market analysis and resource development. All other accounting/financial services will be provided by our partner: Sherry’s Accounting Service (SAS). Fees will depend on the level of service needed but will range from one-time fees of $200-$500 and monthly fees of $100-$750 per month (most chapters would likely be in the $100-$500 per month range). There are also the options for lower monthly fees and using a rate based on collections (fee will depend if just financial management contract or if also using facility management contract but can range from 2-8%). Please fill out the questionnaire below for an exact quote.

Operational Management Services

Your may choose from the following services:

Chapter Resources – Print & Website Materials Can Be Developed For Alumni Advisory Board, Educational Foundation, House Corporation & Undergraduate Chapter
Calls/Meetings – Bi-Weekly To Monthly Calls or Meetings With Chapter Officers or Volunteers Are Available
Strategic Assessment – A complete assessment of alumni volunteer, housing operations & undergraduate chapter operations (more information under the discounts area)
Web-Based Software – Tracking of All Contact Information For Alumni, Parents & Undergraduates As Well As Campus/Chapter Involvement, Contributions, Events, Scholarship, Service/Philanthropy, Etc.

FMG staff will oversee all of the above. Fees will depend on the level of service needed but will range from one-time fees of $250-$500 and/or monthly fees of $75-$250 per month (most chapters would be in the $75-$150 per month range) and expenses. The strategic assessment is a one-time fee of $750 plus expenses. Please fill out the questionnaire below for an exact quote.

Property Management Services

You may choose from the following services:

Facility Assessments – Comprehensive inspection of the property, document required repairs including photographs, prepare order of magnitude cost estimates for the repairs, categorize the repairs into three areas (Life & Safety, Fit For Use & Physical Appearance), develop short & long-term maintenance priority list, identify areas of future cost savings by changing how some things are done, and identify other inspections that may be necessary.
Inspections – for the Tucson and Phoenix areas weekly, bi-weekly, monthly or bi-monthly inspections can be scheduled to monitor the condition of the property on an ongoing basis. This is done after a base-line condition of the physical property is completed.
Construction Project Management – a construction project manager can be provided to oversee your construction project at Arizona, Arizona State & Cal Berkley.
Full-Service Property/Financial Management – full-service property/financial management is available for chapters at Arizona, Arizona State & Cal Berkley, as well as on campuses that we can identify at least 3-4 chapters interested in the services.

FMG staff will help the chapter with coordination with the firms hired. FMG will also place on the chapter website (if managed) or provide print/email copies of any pertinent housing documents. All other property management services will be provided by our partners: Smith and Taylor Professional Property Management (full-service accounting & property management on many campuses), Greek House Facility Assessment Services (property management at Arizona & Arizona State Universities and facility assessments on any campus) or other firms we contract with. Fees will depend on the level of service needed but will range from one-time fees of $1,200 plus expenses for most facility assessments to 5-8% of accounts receivable collections for full service financial/property management. House inspections and construction project management will be quoted after an initial inspection is complete (inspections will likely range from $100-$250 per month plus expenses and construction management will likely range from $250-$1,000 per month depending on how detailed of a service). Please click the link below to fill out our questionnaire for an exact quote.

Financial, Operations & Property Management Questionnaire/Quote

Discounts Available

For chapters working with the Fraternal Property Management Association and HRH/Kirklin & Company there are several discounts available. Please click the link below to find out information on all discounts available to you with your property insurance.

Discounts available to you with your property insurance