Chi Psi Educational Trust INC: FY2021 Nonprofit Profile & Form 990 (EIN 03-0386312)

Revenue by fiscal year
FY2020	$11.9M
FY2021	$3.6M
FY2022	$4.8M
FY2023	$5.3M
FY2024	$11.1M
FY2025	$3.1M

Expenses by fiscal year
FY2020	$1.3M
FY2021	$1.2M
FY2022	$2.1M
FY2023	$3.0M
FY2024	$3.2M
FY2025	$2.8M

Net assets by fiscal year
FY2020	$16.0M
FY2021	$20.8M
FY2022	$20.0M
FY2023	$24.2M
FY2024	$34.0M
FY2025	$36.7M

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Oct 2003.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

59 cents of each dollar spent went to programs.

59%

30%

Program services 59% · $693K Management & general 11% · $125K Fundraising 30% · $350K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

12 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII

Steven L Crow

Chairman

$0Pt VII · Sec A

Harold G Arnwine II

Trustee

$0Pt VII · Sec A

Richard R Burns

Trustee

$0Pt VII · Sec A

Douglas a Basile

Trustee

$0Pt VII · Sec A

Charles V O'Boyle

Trustee

$0Pt VII · Sec A

Julian B Emerson

Trustee

$0Pt VII · Sec A

William J Green

Trustee

$0Pt VII · Sec A

V Seenu Reddy

Trustee

$0Pt VII · Sec A

See Chi Psi Educational Trust INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

Family or business ties among officersPt VI · Ln 2No
Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Develops, funds, and implements leadership and service programs for fraternity members.

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Provided by the organization

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2 programs · $693K · in their own filed words · FY2020

01

Fellowships, Grants, and Scholarships

Provides the promotion of higher education. Awarded 42 merit-based academic financial awards.

$404Kprogram expense

02

Educational Conventions and Seminars

Promotes higher education and self development. 11 educational programs were provided and 10 facilitators completed these programs. 4 leadership programs were provided with 133 delegates at the 179TH spencer institute, 36 delegates at the 10TH virtual mid-year leadership retreat, and 156 delegates at the virtual rowe regional conferences.

$290Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid

Grants received · FY2025

Foundation for the Promotion of Individual Opportunity INCFY2025$3K

Total grants receivedfrom 1 funder$3K

Grants paid · 45 grants · $4.4M · 2019–2024

Chi Psi FraternityTN · FY2024$380,000

Unitemized GrantFY2024$177,667

Iota Court Preservation Association INCWI · FY2024$150,000

University of South CarolinaFY2024$109,255

Alpha Beta of Chi Psi Alumni CorpFY2024$100,000

Alpha Psi Delta Corporation of Chi PhiCO · FY2024$52,884

Washington and Lee UniversityVA · FY2024$50,000

Alpha Alpha Delta of Chi Psi Lodge Assn INCGA · FY2024$50,000

Corporation of Alpha Zeta Delta of Chi PsiIL · FY2024$45,909

Epsilon Trustee CorporationMI · FY2024$41,700

Chi Psi Association of Alpha Eta DeFY2024$25,683

Alpha Psi Corporation of Chi Psi of Cornell UnivesityNY · FY2024$22,700

Alpha Xi Alumni AssociationNJ · FY2024$20,000

Lubbock Chi Psi Lodge Group LLCFY2024$14,800

Alpha Pi DeltaFY2024$11,370

Alpha Omicron of Chi Psi CorporationVA · FY2024$10,000

Chi Psi FraternityTN · FY2023$333,000

The Robert B Plunkett Memorial Educational Trust INCTN · FY2023$240,000

See all 45 grants →

By the numbers

The FY2021 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$3.6M

Ln 12

Gifts and grantsLn 1h$2.8M

Investment incomeLn 3$868K

Money outPt IX

$1.2M

Ln 25

Programscol B$693K

Managementcol C$125K

Fundraisingcol D$350K

Owns and owesPt X

$20.8M

net assets · Ln 32

Cash and savingsLn 1–2$843K

Total assetsLn 16$21.5M

LiabilitiesLn 26$649K

PeoplePt VI, VII

12

listed · VII A

PaidVII A0

Voting boardVI 1a11

IndependentVI 1b11

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$2.8M

Noncash giftsLn 1g$126K

Investment incomeLn 3$868K

Gains on assetsLn 7$671K

Total revenueLn 12$3.6M

Assets in detailPt X, end of year

CashLn 1$162K

SavingsLn 2$681K

Cash and savings togetherLn 1–2$843K

InvestmentsLn 11–13$17.8M

Land, buildings, equipmentLn 10c$756K

Other assetsLn 15$51K

Total assetsLn 16$21.5M

LiabilitiesLn 26$649K

Net assetsLn 32$20.8M

OperationsPt I, VI

EmployeesI 50

VolunteersI 610

Fiscal year endsHeaderJune

Conflict-of-interest policyVI 12aYes

Whistleblower policyVI 13Yes

Records policyVI 14Yes

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY21	End FY21
Cash and savingsLn 1–2	$716K	$843K
InvestmentsLn 11–13	$7.0M	$17.8M
Land, buildings, equipmentLn 10c	$810K	$756K
Total assetsLn 16	$16.5M	$21.5M
LiabilitiesLn 26	$544K	$649K
Net assetsLn 32	$16.0M	$20.8M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic organizationsLn 1	$345K	$345K
Grants to domestic individualsLn 2	$134K	$134K
Legal feesLn 11b	$1K		$1K
Accounting feesLn 11c	$24K		$24K
Conferences, conventions and meetingsLn 19	$73K			$73K
InsuranceLn 23	$12K		$12K
Other expenses (24a–d)Ln 24	$578K	$214K	$87K	$277K
Total functional expensesLn 25	$1.2M	$693K	$125K	$350K

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest	$3.1M	$2.8M	$357K	$36.7M	990 PDF
FY2024	$11.1M	$3.2M	$7.8M	$34.0M	990 PDF
FY2023	$5.3M	$3.0M	$2.3M	$24.2M	990 PDF
FY2022	$4.8M	$2.1M	$2.6M	$20.0M	990 PDF
FY2021 Viewing	$3.6M	$1.2M	$2.4M	$20.8M	990 PDF
FY2020	$11.9M	$1.3M	$10.6M	$16.0M	990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support M · Noncash O · Explanations

See the full FY2021 990 (6 parts)

Part I · Summary $3,559,500 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $11,340,057$2,812,992

I-9 Program service revenuePrior year $0$0

I-10 Investment incomePrior year $670,611$867,989

I-11 Other revenuePrior year −$90,699−$121,481

I-12 Total revenuePrior year $11,919,969$3,559,500

I-13 Grants and similar amounts paidPrior year $466,035$478,853

I-14 Benefits paid to membersPrior year $0$0

I-15 Salaries and benefitsPrior year $0$0

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $861,387$688,840

I-18 Total expensesPrior year $1,327,422$1,167,693

I-19 Revenue less expensesPrior year $10,592,547$2,391,807

Part VI · Governance 11 of 11 board members independent, no flags

VI-1a Voting members of the governing body11

VI-1b Independent voting members11

VI-2 Family or business relationship among officers or directorsNo

VI-12a Written conflict of interest policyYes

VI-13 Written whistleblower policyYes

VI-14 Document retention and destruction policyYes

VI-15a Process for setting top official's payYes

Part VIII · Statement of revenue $3,559,500 across 8 lines filed

VIII-1f All other contributions, gifts and grants$2,812,992

VIII-1g Noncash contributions (included above)$126,100

VIII-1h Total contributions, gifts and grants$2,812,992

VIII-3 Investment incomeExcluded from tax $196,538$196,538

VIII-6 Net rental income or lossUnrelated business −$63,987 · Excluded from tax −$64,565−$128,552

VIII-7 Net gain or loss on sales of assetsExcluded from tax $671,451$671,451

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $7,071$7,071

VIII-12 Total revenueRelated to mission $0 · Unrelated business −$63,987 · Excluded from tax $810,495$3,559,500

Part IX · Statement of functional expenses $1,167,693 across 7 lines filed

IX-1 Grants to domestic organizationsPrograms $344,853$344,853

IX-2 Grants to domestic individualsPrograms $134,000$134,000

IX-11b Legal feesManagement $1,320$1,320

IX-11c Accounting feesManagement $24,357$24,357

IX-19 Conferences, conventions and meetingsFundraising $72,936$72,936

IX-23 InsuranceManagement $12,471$12,471

IX-24 Other expenses (24a–d)Programs $214,407 · Management $86,576 · Fundraising $276,773$577,756

IX-25 Total functional expensesPrograms $693,260 · Management $124,724 · Fundraising $349,709$1,167,693

Part X · Balance sheet $21,451,813 assets, 14 lines filed

X-1 Cash, non-interest-bearingStart of year $429,082$162,141

X-2 Savings and temporary cash investmentsStart of year $286,618$681,086

X-3 Pledges and grants receivableStart of year $7,964,985$1,991,031

X-10c Land, buildings and equipment, netStart of year $810,436$755,781

X-11 Publicly traded securitiesStart of year $7,035,908$17,811,164

X-15 Other assetsStart of year $16,163$50,610

X-16 Total assetsStart of year $16,543,192$21,451,813

X-17 Accounts payable and accrued expensesStart of year $6,531$12,185

X-18 Grants payableStart of year $9,750$133,750

X-26 Total liabilitiesStart of year $543,713$648,995

X-27 Net assets without donor restrictionsStart of year $914,336$1,169,552

X-28 Net assets with donor restrictionsStart of year $15,085,143$19,633,266

X-32 Total net assets or fund balancesStart of year $15,999,479$20,802,818

X-33 Total liabilities and net assetsStart of year $16,543,192$21,451,813

Part XI · Reconciliation of net assets $20,802,818 net assets at year end

XI-1 Total revenue$3,559,500

XI-2 Total expenses$1,167,693

XI-3 Revenue less expenses$2,391,807

XI-4 Net assets at start of year$15,999,479

XI-5 Net unrealized gains (losses) on investments$2,411,532

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$20,802,818

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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Chi Psi Educational Trust INC FY2021 filing

Before you give

Is it real?

Where the money goes

Who runs it and what they're paid

Questions the 990 asks

Programs and updates

Questions for Chi Psi Educational Trust INC

Fellowships, Grants, and Scholarships

Educational Conventions and Seminars

Funders

Grants

By the numbers

Filing history

Schedules filed Part IV

Chi Psi Educational Trust INC FY2021 filing

Before you give

Is it real?

Where the money goes

Who runs it and what they're paid

Questions the 990 asks

Programs and updates

Questions for Chi Psi Educational Trust INC

Fellowships, Grants, and Scholarships

Educational Conventions and Seminars

Funders

Grants

Related Organizations

By the numbers

Filing history

Schedules filed Part IV