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Published Friday, April 14, 2000

Secret societies swimming in cash, IRS

reports show

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BY PERRY BACON
YDN Staff Reporter

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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.

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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.

Despite a sour market, Yale

dot-coms confident (Thursday, October
5, 2000)
Yalies struggle to juggle classes and
companies (Thursday, October 5, 2000)
SAS, Levin still at odds after summer
(Saturday, September 23, 2000)
Yale to evict WYBC (Friday, September
22, 2000)

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 cou ld 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 mill ion -with Skull and Bones registering over $4 million in assets.
While the tax filings showed the many financial dealings of the societies, the actual activ ities
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." Wol f's
Head and Scroll and Key's descriptions of their societies both described the financial assi stance
they offer members and graduates.
Book and Snake, located on 145 High Street and formed in 1863, also included some

12/28/2006 7:34 PM

yaledailynews.com - Secret societies swimming in cash, IRS reports show

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http://web.archive.org/web/20041030110856/http://www.yaledailynews...

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 call ing
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.

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