Indianapolis, July 29, 2016 - Phi Kappa Psi Fraternity has partnered with OmegaFi to provide financial management software, training and support to undergraduate chapters and house corporations. Beginning in July, Phi Kappa Psi organizations are encouraged to use the chapter finance and management tools provided by OmegaFi to streamline operations, enrich data quality and improve financial performance.
"We recognize OmegaFi's unique ability to provide ongoing education and a robust suite of services to position our students, advisors and chapters for financial success and security," said Executive Director, Mark Guidi (Virginia Tech '84.)
A number of chapters already partner with OmegaFi—some for almost 20 years. Working with OmegaFi will help chapters file IRS paperwork, enjoy high collection rates, save time, reduce fraud and more easily pay National dues and fees. All chapters registered for OmegaFi's Vault for fall 2016 billing will be eligible for the following benefits: a reduced cost of service, a free mobile-friendly chapter website for one year and free IRS tax filing of the 990N or 990EZ. Other incentives will be announced at a later time.
"We are excited to work with Phi Kappa Psi and pleased we were chosen after a thorough review and comparison to other companies," said OmegaFi CEO Fred Maglione. "I envision great results from this partnership and OmegaFi is eager to help chapters generate more money, maintain their tax exempt status and safely spend fraternity funds. We even have a fun new awards program planned to recognize Phi Psi chapters with best financial management practices. It's a new day for Phi Kappa Psi, and we are proud to be aligned with this leader in the fraternal world."
The Phi Kappa Psi Fraternity, founded in 1852 at Jefferson College, engages men of integrity, further develops their intellect and enhances community involvement. With a legacy built on acceptance and trust, each brother realizes his highest potential through a lifelong experience of service and excellence. Today there are 106 undergraduate chapters, 51 alumni associations and more than 124,000 lifetime initiates.