That’s right the 1855 Club was created in May 2000.  I asked John Banta to share some of his early thoughts in creating the 1855 club:

Perpetual.  One of the frustrations I wanted to avoid with the 1855 Club was the fact that most formal fund raising campaigns consist of a massive drive to get one-time donations from their donors.  These are often tough checks to write and the sales cycle often starts all over again the following year with the next campaign.  I designed Eta Iota’s 1855 Club to consist of recurring transactions of smaller dollar amounts, making it as pain-free as possible to both the chapter and our brotherhood with payment options available as low as $9.27 per month – key to the 2nd objective:

Affordable for members.  Keeping the monthly donation amounts small but repeating allows more people to participate and join.  Think about it – who can’t spare $9 a month (the cost of less than 3 gallons of gas these days or maybe 3 drinks at Starbucks) for a cause they really believe in and want to support?  The amounts are hardly missed, but the fact that it is a recurring transaction each month gives the chapter the important benefit of growth potential over time and a consistent revenue stream.   Of course the member can pause or change their donations any time but the small amounts hopefully minimize the need to do so.

Low overhead.  With so many professional fund raising organizations out there wanting to design and manage a program for groups like Eta Iota, they may provide an easy option but the costs would be painful to the fraternity – some charge as much as 50% of all revenues received.  I wanted something where we would keep as much revenue as possible for the bottom line.  Costs had to be minimal and with the 1855 Club approach, this requirement was met quite successfully with negligible operating costs to cover mailings and recognition gifts for our donors.