Officers

The Omicron Association Inc of the Phi Kappa Tau Fraternity (Omicron) was incorporated in 1930 for the purpose of owning and operating a Fraternity Chapter House (House) located at 408 East Fairmount Avenue. The major source of income for Omicron are rental fees for the House and Annex, usually through a lease agreement with the Resident Council. This income pays the property taxes, building insurance, major repairs and renovations to the House and Annex, and repayment of any loans. A secondary source of income is an annual alumni dues program and proceeds from which Omicron serves as an alumni association instead of the GC doing so. Omicron has a nine (9) member governing Board of Directors (BOD). Three (3) persons are elected each year for 3-year terms during Omicron’s annual meeting. Then BOD elects a Chairman, Vice-chairmen, and Secretary/Treasurer for 1-year terms. Omicron has an EIN (20-8860589), and the IRS considers it a 507 c1 organization (Social or Fraternal organization) and as such it does not have to pay taxes on income generated as part of its stated function.