-Caveat Lector-

from:
http://www.yaledailynews.com/news/Article.asp?type=live&AID=12090
Click Here: <A
HREF="http://www.yaledailynews.com/news/Article.asp?type=live&AID=12090">Yale
Daily News</A>
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Published Friday, April 14, 2000
Secret societies swimming in cash, IRS reports show

BY PERRY BACON
YDN Staff Reporter
While a new film may not paint the brightest picture, membership in secret
societies certainly means today's chosen juniors will receive lavish
treatment on Sunday and Thursday evenings, according to federal tax filings.

Four of the best-known societies -- Book and Snake, Scroll and Key, Wolf's
Head, and Skull and Bones -- spent over $80,000 a year on their programs,
including $270,938 from Scroll and Key. Part of these expenses, however, is
incurred through maintaining the societies' huge tombs, which are valued at
more than $400,000 each, according to filings.

These figures, obtained from recent filings of the federal 990 forms --
required for non-profit groups such as the societies -- show some of their
financial details while retaining the secrecy of their activities.

Scroll and Key's 1998 tax filings were among the most detailed, showing that
the society spends over $16,000 arranging "conferences, conventions, and
meetings," according to the form. It also gave specific prizes to members,
which ranged from $50 to $2,500, although it is unclear whether this is the
only money members of the society will receive. Although the tax forms do not
reveal this information, Skull and Bones reportedly gives each new member
$15,000.

The highest portion of the money spent by Scroll and Key -- $20,440 -- goes
toward investment fees, but a close $17,119 is spent on the group's
undergraduate meetings at the tomb on 484 College Street. The tomb was valued
at just over $500,000 at the time of the filing and could be worth more with
the society's completed renovations.

Scroll and Key also reported the highest value of assets on May 31, 1999 --
at over $5 million -- with Skull and Bones registering over $4 million in
assets.

While the tax filings showed the many financial dealings of the societies,
the actual activities remained largely secret.

All four defined their purposes very vaguely, ranging in detail from Skull
and Bones' "educational programs" to Book and Snake, which "provides a forum
for the exercise of the student's intelligence and the formation of their
character in the presence of contemporary students -- as well as outside
speakers having many diverse backgrounds and interests." Wolf's Head and
Scroll and Key's descriptions of their societies both described the financial
assistance they offer members and graduates.

Book and Snake, located on 145 High Street and formed in 1863, also included
some information about the society's founding in its filings.

The by-laws of the society, created in 1961, include a number of stipulations
about how the society should prove "the intellectual and moral improvement of
its members" including calling for the preparation and delivery of speeches
or papers by the members on the bi-weekly sessions, which would be followed
by questions and analysis by the members.

Copyright © 2000 Yale Daily News. All rights reserved.

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