Financial & Housing Corporation Seeks New Board Applicants

EVANSTON, IL - SAE Financial and Housing Corporation (F&H) is a nonprofit, tax exempt real estate development and investment company that focuses on both owning and managing SAE related housing properties.  F&H operates independent of the SAE Fraternity.  Presently, F&H owns thirteen SAE fraternity houses, manages one additional SAE property.  The F&H total market value of its housing portfolio is over $20 million.  

SUMMARY

In accordance with its bylaws, F&H is soliciting applications from eligible SAE members for three (3) open Board of Director positions.  Two F&H board members will complete their first four-year term in June 2019 and one will complete his second four-year term. Two are eligible to seek re-appointment to a second four-year term.   The newly appointed board members will begin their four (4) year term on or about June 20, 2019.

Additionally, F&H has a program of Honorary Board members which provides for the selection of up to two members who have an interest in the work of F&H and have special professional skills suited for special projects.  These members serve at the discretion of the president for the length of their assigned project.  

At a minimum, F&H board members are required to attend two (2) in-person board meetings each year (typically, a three-day weekend at locations across the U.S.), and they are also required to participate in monthly telephone calls of approximately one (1) hour each, usually held in the evening.  Each F&H board member will also be appointed as an officer of the corporation, and he will have additional duties and responsibilities depending upon the nature of his office.  Note: A professional staff handles the corporation’s daily operations and executes F&H board directives.

F&H board members may only serve two consecutive, four-year terms.  F&H board members serve on a volunteer basis and are reimbursed only for travel related expenses.

QUALIFICATIONS

Given the nature of the F&H business model and its drive for sustained growth in real estate focused investments related to the Fraternity, the work of the F&H Board is highly specialized, complex and demanding.  For our corporation to be successful, its board members must have high level of business maturity and demonstrated professional acumen in one or more of the following areas of expertise:

  • Property sales, leasing, investment, management or lending
  • Real estate lawCorporate finance or accounting
  • Construction or project management
  • Architecture, engineering and interior design
  • College and university administration
  • Food service and restaurant sales
  • Sales and marketing with a focus on collegiate customers

A successful candidate will meet the following Minimum Qualifications as prescribed by our Bylaws and board resolution:

  • He is a member in good standing of the SAE Fraternity; and
  • He is not a voting board member of the SAE Fraternity or SAE Foundation or, if so, his term will expire as of June 21, 2019; and
  • He is not a candidate to become a voting board member of the SAE Fraternity or SAE Foundation (whether contested or not); and
  • He has a minimum of 10 years professional experience in one or more of the Areas of Expertise, and he has demonstrated interest in the SAE Fraternity as an alumnus member, including at the chapter, province, regional or national level; and
  • He has timely submitted an application as prescribed by this announcement. 

 

APPLICATION PROCESS

To be considered for appointment to the F&H Board, all Applicants must submit the following three (3) items:

  • A one-page cover letter describing his interest in volunteering for the F&H board, including a short summary of qualifications and any additional information to the extent not addressed below, including home address, graduation chapter and year and contact information; and
  • A professional resume or similar summary that describes his academic achievements and professional experiences; and
  • A summary of his SAE Fraternity experiences, both as an undergraduate and as an alumnus.

 

The DEADLINE for all applications is March 31, 2019.  All three items outlined above must be timely received by the F&H Chief Executive Officer, Gregory P. Somers by email (gsomers@sae.net) or by US Mail: Gregory P. Somers, Chief Executive Officer, SAE Financial and Housing Corporation, 1856 Sheridan Avenue, Evanston, IL 60201.

In accordance with F&H Bylaws, the F&H board will thereafter certify applicants in accordance with the Minimum Qualifications.  Certified applications will then be forwarded to a Nominating Committee comprised of various SAE Fraternity representatives, both alumnus and undergraduate.  The Nominating Committee will assess each candidate’s qualifications to serve on the F&H board of directors and will advise the F&H board on its preferred candidates.  In certain instances, the Nominating Committee may ask an applicant to participate on a phone call interview as part of the Committee’s evaluation process.  The nominating process concludes when the F&H Board considers the Nominating Committee’s final recommendations and appoints members to fill the open board positions.  For the avoidance of any doubt, applicants do not need to be present at the SAE Fraternity Convention to be considered for appointment to the F&H board of directors.

All applicants will be notified by email once the F&H board selects its newest board members.

 
 

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1856 Sheridan Road · Evanston, IL 60201