Revenue and Expenses Associated With Establishing a Chapter


Item  Factors in Determining Actual Cost 
Induction Fee Members should pay an induction fee at the time they join the honor society. This fee may or may not be the same as the annual renewal fee. This fee pays for the services to a member for her/his first year. The average induction fee for honor societies is US $25-$30.

Members are to be asked to renew their membership in the honor society or chapter annually. A renewal fee should be charged to pay for services to the member for the next year. The average honor society/chapter renewal fee is US $25-$30. It is unrealistic to budget that 100 percent of members will renew. The average renewal rate for Sigma is about 70 percent.
Program/registration fees If culturally appropriate, there may be a charge for attending an honor society or chapter program.This amount should help pay the costs for having the meeting and perhaps an additional US $5-10 to apply to future chapter activities. Typically, honor societies and chapters charge non-members of the group a slightly higher registration fee.
Donations Some groups have been successful at raising money through donations or contributions. Contributions could be from individuals or companies, and in the form of money or services.For example, some schools of nursing allow the honor society to mail notices to members through the university or sometimes a review of the financial records can be performed free of charge by a business class at the university as a class project.
Sponsorships Some honor societies have been successful at getting sponsorship money for programs and activities. Common resources are pharmaceutical companies, nursing book publishers and/or distributors and medical equipment suppliers. Sometimes these companies are asked to “sponsor” an event by contributing enough money to pay for food or other supplies. Frequently, a sign indicating that the event is sponsored by the company is included.
Grants Occasionally, honor societies and chapters have found other non-governmental organizations to support the group through one or more grants.Grants are usually for specific purposes such as conferences, specific projects for improving health care, or community service events organized by the honor society or chapter.


Item Factors in Determining Actual Cost
Induction Ceremony  The induction ceremony can be as simple as a room appropriate for the event and perhaps some food and drinks or as elaborate as a sit down dinner with an ice sculpture! An induction ceremony need not be costly. Many honor societies/chapters save money by using a facility at the university free of charge. Providing food at the event may increase attendance but it is not required. Snacks could be provided instead of a full meal if preferred.
Programs/Meetings Programs or meetings should be combined with induction ceremonies when possible to help minimize costs. Most groups find presenters who will not charge for speaking. Occasionally, groups will invite a speaker who requires a fee to present at the meeting, and this cost can be paid for through methods such as grants, sponsorships, increased program registration fees or through a special chapter event to raise money for the meeting. The same ideas for reducing costs associated with a facility and food at an induction ceremony should also be used for meetings.
Some groups use printed or electronic newsletters to communicate events and information. Others have been able to use e-mail and/or websites. If a printed version is chosen, be sure to include costs for printing and mailing. If using a website, investigate if the honor society/chapter will have to pay housing fees.

Travel to Sigma Biennial Convention

STTI has a convention every other year. Developing honor societies are encouraged to send 1-2 representatives to the convention. Chapters are required to send 1-2 delegates to convention to attend the House of Delegates session(s). Chapters that are newly chartered within the current biennium will be recognized at the House of Delegates.
Chartering Fee/Annual Chapter Assessment

At the time an honor society has a chartering ceremony to officially become an Sigma chapter, the honor society is required to pay a chartering fee of US $450. This fee is used toward the expenses of a chapter chartering such as travel for a chartering officer, printing of a chapter charter and a coat-of-arms plaque.

In subsequent years following the official chartering ceremony, the chapter will be assessed an annual fee in September. This fee is based on the number of active members a chapter has as of 30 June of that year and the country in which the chapter is located.