The National Housing Corporation (NHC) is a private, not-for-profit 501(c)(7) corporation which provide housing loans to alumni-led house corporations associated with chapters of Phi Kappa Sigma International Fraternity.
The National Housing Corporation was established in 2013. The corporation is controlled by a board of directors which consists of alumni volunteers. The current board of directors is composed of the following members:
How the NHC Works
The National Housing Corporation was created to provide housing solutions and alternatives for Phi Kappa Sigma chapters and local housing corporations. The NHC is based on models and best practices that have been in place with leading fraternities and sororities in the housing field. The NHC has three basic components:
The funding component will require an annual contribution by the undergraduates. The most successful programs started by requiring that one simple payment from all members in variable “situation-based” amounts. It will be our job to decide how we want to start the program and set up guidelines that will make the undergraduates confident in the management of their funds.
We should consider a possible funding/investment mechanism whereby individual Alumni and Alumni groups including local Housing Corps would be offered investment opportunities in our future NHC. This may include a guaranteed rate of return on these liquid investments (5% was mentioned). Also, borrowing power could be realized by leveraging equity from properties acquired by the NHC. This would create a stable source of initial funding to start our NHC operations (a much easier sell to Undergrads who could benefit immediately from the formation of a NHC and see a possible immediate return on their investment) and augment the longer-term accumulation of funding from Undergrad NHC fees.
Property Holding Component
The house holding portion will require the establishment of a legal entity to hold properties owned by the local housing corporations. This will be used to hold ownership of properties bought by or donated to the NHC.
Property Management Component
House management program will encompass establishing the best practices to be used in managing a property and assisting in the proper operations of local housing corporations. This would also include the development of individual strategic plans for properties that our NHC acquires.
For more information, or to request a loan, please visit our website at www.nhcpks.org.