1855 Club Frequently Asked Questions
What is the money used for?
How do the automatic drafts work?
Are these automatic drafts secure?
When do the monthly drafts occur?
Can I cancel automatic drafts?
Can I make a single, lump-sum payment instead of monthly drafts?
Can I pay with credit card?
Are my contributions tax-deductible?
Where do I send my printed authorization form?
What are the different membership options?
What is the money used for?
The money that is raised from the 1855 Club is put primarily into long-term savings. A very small amount (approximately 10%) is used for minor renovations to the house when we have an opportunity to improve living conditions such as updating bathrooms or making general house improvements. We have, however, been focused on keeping these funds completely separated from day to day operations. 1855 Club contributions will not go towards such things as payments to Risk Management Foundation (insurance) or ongoing maintenance costs as these types of expenses are funded by rent collected from the actives.
How do the automatic drafts work?
Eta Iota House Corp has purchased software that allows us to create bank
drafts from the information you provide us from your checking account. This is similar software to what is used by major companies that accept virtual checks over the phone. All we need is your bank information and account information along with your signed authorization to make monthly drafts.
Are these automatic drafts secure?
Absolutely. House Corp does not, and will never, share your bank account information with ANYONE! The software allows us to make the drafts completely in-house so it is just as safe as writing a check. Furthermore, the drafts are printed on special stock check paper that has security micro-printing on it to prevent any unauthorized copying of checks.
When do the monthly drafts occur?
The automatic drafts are deposited to the House Corporation
account on or around the 20th of each month. There may be a slight delay depending on
how long your bank takes to process the withdrawal.
Can I cancel automatic drafts?
Yes. Automatic drafts can be put on hold temporarily or completely canceled right away. Just call or email House Corporation President, John Banta, and your contributions (starting with your next one) will be stopped.
Can I make a single, lump-sum payment instead of monthly drafts?
Yes you can, and you have 2 options to do so:
Can I pay with a credit card?
Yes, contributions may now be made using any major credit card. All you need is a Paypal account. Simply click on one of the links in the table below to purchase your 1855 Club membership using a credit card. If you are not yet a member, please indicate that we referred you by entering 1855club@etaiota.org in the appropriate field when prompted and House Corp will earn $5 for each referral.
Are my contributions tax-deductible?
Legally, No. But what you do with your taxes is your business.
Where do I send my printed authorization form?
If you choose to print out the form and mail it in, you may send the completed authorization forms should be sent (along with a voided check, if available) to the following address:
What are the different membership options?
The 1855 Club has six unique membership options, each with it's own level of recognition:
| Level | Payment Options | Join Now! | |
| Monthly | Annually | ||
|
Blue |
$9.27 | $111.30 | |
|
Gold |
$18.55 | $222.60 | |
|
White Cross |
$41.67 | $500 | |
|
Norman Shield |
$62.50 |
$750 |
|
|
Founder
|
$100 |
$1200 |
|
|
Constantine |
$154.58 | $1,855 | |