Once every biennium, each chapter has the opportunity to adjust the renewal fees charged to its members. In order to process chapters' requests for fee adjustments, the Chapter Verification of Renewal Fees Form can be submitted no later than 15 March.The new chapter renewal fee takes effect 1 July of the year the form was submitted.
The Verification of Renewal Fees Form is now open in the Chapter Management System.
Although the form is available annually, chapters wishing to increase their chapter renewal fees are restricted by STTI's bylaws to one increase per biennium, not to exceed the cumulative Consumer Price Index (CPI) percentage rate in the United States.
Chapters planning to adjust their renewal fees are encouraged to start planning early by bringing the topic to the full chapter board for consideration. It is also important to keep in mind that each member is also charged the STTI international fee, which cannot be changed by individual chapters.
Chapters are asked to submit revised fees for three separate membership types: regular members, life members, and new members.
- Regular member- a regular member is any non-life or new member
- Life member- Life membership was offered at the chapter level until 1976. Every chapter must set this fee even to accommodate any life members who may transfer into the chapter in the future.
- New member- This gives chapters the option of assessing new inductees a lesser amount at the time of induction than the regular member amount. This amount does not include ceremony or additional costs. This lower amount allows the chapter to make induction costs more affordable to new inductees.
Things to Consider
When adjusting chapter renewal fees, there are several issues that need to be considered. If the chapter wishes to increase the fees, it is critical that there is just cause. Chapter board members should ask why fees need to be increased.
When chapters need to adjust fees to cover the increased cost of benefits currently being offered for reasons such as increased postage, higher printing costs, or rising meeting space rental costs, the board should first consider the following:
- Is there another way to deliver current services to members?
- Are there other vendors that may be able to offer a better price for the same services?
- Does alternative meeting space exist that is less costly?
If the chapter plans to introduce new benefits such as additional seminars or workshops, complementary printed materials, or increased scholarships or grants and needs to increase fees to cover the additional expense, the following should be considered:
- Are the proposed benefits desired by the chapter membership?
- Would fundraising efforts be more effective?
- Should increased program expenses be covered by increasing the registration cost?
Once the chapter's board has determined that a fees' increase is warranted, it is time to determine the appropriate amount. Since most chapters maintain fees ranging from US $20 to US $35, small incremental increases may yield better retention results than larger increases.
It may seem odd at first, but there are circumstances that could lead a chapter to reducing its chapter renewal fee. For instance, if the school of nursing at a given chapter closes and the chapter decides to become an alumni chapter, the chapter's board may determine that some benefits will no longer be relevant, therefore, allowing renewal fees to be lowered. Or perhaps a vital chapter has received a generous gift from a member, or fundraising efforts have produces phenomenal results allowing the chapter to use funds to cover some annual operating expenses and thus permitting the chapter to lower renewal fees. If the latter is the case, chapters should be cautious not to reduce fees temporarily, only to raise them drastically when the additional funding has been expended.
Submitting the required form
The online chapter verification of renewal fees form will be available in January of each year on STTI's website. Once the form is available, a notice will be sent to each chapter's officers. To ensure that requested adjustments are made and take effect on 1 July of the same year, chapters must submit the form by the 15 March deadline.
When submitting the form, chapters are also requested to confirm the chapter's contact information that appears in the chapter directory on STTI's website.
The form may be found in the Chapter Management System.
If you have additional questions about the verification of fees form please contact us at email@example.com or 888.634.7575 (U.S./Canada toll-free) and +1.317.634.8171 (International).