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Pi Lambda Phi Fraternity FY2022 filing

Malden, MA501(c)(7)EIN 04-2721968Revenue $92K in FY2022

On file with the IRS374 Lebanon St, 02148-1729 · Malden, MATax-exempt since Mar 1941

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Maintain facilities to house the Massachusetts Theta chapter of Pi Lambda Phi fraternity

Mission: Form 990 Part I, line 1

Before you give

FY2022 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(7)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 5
filings with a surplus
Average deficit $17K a year · 19% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
15 mo
of spending, in cash
Looks good: 14.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $21K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$125K
97% of total assets
Concern: liabilities are 97% of assets; over 80%.
Pt X · Ln 26
Independent board members
12
of 12 voting members
Looks good: 12 of 12 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$92K
+89% vs prior year
Spent
$90K
To programs
0%
Net assets
$4K
By yearFY2021–FY2025
Revenue
$92K
FY2022▲ +89%
Tap a bar for its year
Revenue by fiscal year
FY2021$49K
FY2022$92K
FY2023$88K
FY2024$104K
FY2025$117K
Expenses
$90K
FY2022▼ -41%
Tap a bar for its year
Expenses by fiscal year
FY2021$153K
FY2022$90K
FY2023$107K
FY2024$68K
FY2025$116K
Net assets
$4K
FY2022▲ +135%
Tap a bar for its year
Net assets by fiscal year
FY2021$2K
FY2022$4K
FY2023−$15K
FY2024$21K
FY2025$22K

From the FY2022 Form 990 (year ending June 2022) · see the original

Form 990 (PDF) Claim
You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Mar 1941.

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

Who runs it and what they're paid

11 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
Marc Shuster
Director
$0Pt VII · Sec A
Kriss Aho
Director
$0Pt VII · Sec A
Jacob Haip
Director
$0Pt VII · Sec A
Jim Bricker
Director
$0Pt VII · Sec A
Jeremy Zhou
Director
$0Pt VII · Sec A
Thanh Nguyen
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Lee Kilpatrick
Vice President
$0Pt VII · Sec A
See Pi Lambda Phi Fraternity 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 15aNo

Programs and updates

Maintains facilities to house a fraternity chapter.

Questions for Pi Lambda Phi Fraternity

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Provided by the organization

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1 program · in their own filed words · FY2021
01

Maintained facilities and provided support to the Massachusetts Theta chapter of Pi Lambda Phi fraternity. Assured that appropriate educational and living spaces were available in a safe and secure environment.

Pt IX · col B

Funders

Who pays for it.

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

Grants

Schedule I · funders on record
Grants received · FY2024
Massachusetts Institute of TechnologyFY2024$21K
Total grants receivedfrom 1 funder$21K

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$92K
Ln 12
Other incomeLn 4–11$82K
Gifts and grantsLn 1h$10K
Investment incomeLn 3$25
Money outPt IX
$90K
Ln 25
Owns and owesPt X
$4K
net assets · Ln 32
Cash and savingsLn 1–2$111K
Total assetsLn 16$129K
LiabilitiesLn 26$125K
PeoplePt VI, VII
11
listed · VII A
PaidVII A0
Voting boardVI 1a12
IndependentVI 1b12
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$10K
Government grantsLn 1e$0
Noncash giftsLn 1g$0
Fundraising eventsLn 1c$0
Investment incomeLn 3$25
Other incomeLn 4–11$82K
Total revenueLn 12$92K
Assets in detailPt X, end of year
CashLn 1$111K
SavingsLn 2$0
Cash and savings togetherLn 1–2$111K
Total assetsLn 16$129K
LiabilitiesLn 26$125K
Net assetsLn 32$4K
OperationsPt I, VI
EmployeesI 50
VolunteersI 611
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$123K$111K
Total assetsLn 16$139K$129K
LiabilitiesLn 26$138K$125K
Net assetsLn 32$2K$4K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Professional fundraising feesLn 11e$12K
Office expensesLn 13$1K
InterestLn 20$5K
InsuranceLn 23$20K
All other expensesLn 24e$51K
Total functional expensesLn 25$90K$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $117K$116K$1K$22K 990 PDF
FY2024 $104K$68K$36K$21K 990 PDF
FY2023 $88K$107K−$19K−$15K 990 PDF
FY2022 Viewing $92K$90K$2K$4K 990 PDF
FY2021 $49K$153K−$104K$2K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2022 990 (6 parts)
Part I · Summary $92,086 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $11,301$10,120
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $16$25
I-11 Other revenuePrior year $37,448$81,941
I-12 Total revenuePrior year $48,765$92,086
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $7,289$12,415
I-17 Other expensesPrior year $145,321$77,605
I-18 Total expensesPrior year $152,610$90,020
I-19 Revenue less expensesPrior year −$103,845$2,066
Part VI · Governance 12 of 12 board members independent, 4 to look at
VI-1a Voting members of the governing body12
VI-1b Independent voting members12
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $92,086 across 12 lines filed
VIII-1a Federated campaigns$0
VIII-1b Membership dues$0
VIII-1c Fundraising events$0
VIII-1d Related organizations$0
VIII-1e Government grants$0
VIII-1f All other contributions, gifts and grants$10,120
VIII-1g Noncash contributions (included above)$0
VIII-1h Total contributions, gifts and grants$10,120
VIII-3 Investment incomeRelated to mission $25 · Unrelated business $0 · Excluded from tax $0$25
VIII-5 RoyaltiesRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$0
VIII-6 Net rental income or lossRelated to mission $81,941 · Unrelated business $0 · Excluded from tax $0$81,941
VIII-12 Total revenueRelated to mission $81,966 · Unrelated business $0 · Excluded from tax $0$92,086
Part IX · Statement of functional expenses $90,020 across 5 lines filed
IX-11e Professional fundraising fees$12,415
IX-13 Office expenses$1,166
IX-20 Interest$4,616
IX-23 Insurance$20,408
IX-24e All other expenses$51,415
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$90,020
Part X · Balance sheet $128,810 assets, 15 lines filed
X-1 Cash, non-interest-bearingStart of year $123,417$111,221
X-2 Savings and temporary cash investmentsStart of year $0$0
X-3 Pledges and grants receivableStart of year $0$0
X-4 Accounts receivableStart of year $867$1,622
X-8 Inventories for sale or useStart of year $0$0
X-9 Prepaid expenses and deferred chargesStart of year $15,086$15,967
X-16 Total assetsStart of year $139,370$128,810
X-17 Accounts payable and accrued expensesStart of year $13,573$5,494
X-18 Grants payableStart of year $0$0
X-19 Deferred revenueStart of year $0$0
X-20 Tax-exempt bond liabilitiesStart of year $0$0
X-24 Unsecured notes and loans payableStart of year $0$0
X-26 Total liabilitiesStart of year $137,836$125,210
X-32 Total net assets or fund balancesStart of year $1,534$3,600
X-33 Total liabilities and net assetsStart of year $139,370$128,810
Part XI · Reconciliation of net assets $3,600 net assets at year end
XI-1 Total revenue$92,086
XI-2 Total expenses$90,020
XI-3 Revenue less expenses$2,066
XI-4 Net assets at start of year$1,534
XI-5 Net unrealized gains (losses) on investments$0
XI-6 Donated services and use of facilities$0
XI-7 Investment expenses$0
XI-8 Prior period adjustments$0
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$3,600

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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