House Corporations play
an important role in the operations of Phi Psi's
undergraduate chapters. The house corporation is the
organization that owns the house and awards
scholarships. It develops plans for future property
acquisition, and is one of the organizations that serve
as a repository for major donations to the chapter. (The
other is the Endowment Fund of Phi Kappa Psi, with which
the corporation coordinates some of its activities.)
The Texas Beta House Corporation is a Texas
corporation, the Phi Kappa Psi South Plains Educational
Foundation, Inc. (or SPEF), incorporated in 1980. All
alumni of the Texas Beta chapter and all undergraduates
who are in good standing are members of this
corporation.
The corporation is run by a board of directors of 7 to
12 men that is elected annually at a membership
meeting. Normally the chapter president and treasurer
are among those elected as directors, in accordance with
the fraternity's bylaws. The board is headed by a
Chairman and has two Vice-chairmen, a Secretary, and a
Treasurer.
The board has adopted the policy that it will meet at
least four times per year to address any issues that may
arise--- in October during Homecoming weekend, in
January or February prior to the Alumni Association and
House Corporation annual business meetings and
elections, and approximately in April and July.
SPEF is the owner of the Phi Kappa Psi lodge at 1406
Orlando. It is the lessee (that is, the tenant) of the
property on which the lodge sits, with a 99-year lease.
(All of the eight fraternities on Orlando Avenue, known
informally as "Greek Circle II", lease their property
with similar leases from the Texas Tech Interfraternity
Housing Corporation, which owns it.)
Recent practice has been to award scholarships
in the fall at Homecoming weekend and in
February at the Founders Day celebration.
Phi
Kappa Psi Fraternity
