Chi Omega Fraternity FY2023 filing

Kingston, RI501(c)(7)EIN 05-6022503Revenue $214K in FY2023

On file with the IRS10 Quarry Rd, 02881-1237 · Kingston, RITax-exempt since Dec 1940

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Promotes education, social activities & unity amongst the sorority members

99¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

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FY2023 · 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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 2
filings with a surplus
Average surplus $23K a year · 10% of revenue · last 2 filings
Looks good: a surplus in 2 of the last 2 filings.
Pt I · Ln 19 · 2 filings
Spent on programs
99%
of spending
Looks good: 99% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
3 mo
of spending, in cash
Fine: 2.9 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$6K
12% of total assets
Looks good: liabilities are 12% of assets; 50% or less.
Pt X · Ln 26
Independent board members
0
of 4 voting members
Concern: none of 4 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$214K
+77% vs prior year
Spent
$211K
To programs
99%
Net assets
$45K
By yearFY2021–FY2024
Revenue
$214K
FY2023▲ +77%
Tap a bar for its year
Revenue by fiscal year
FY2021$121K
FY2022$121K
FY2023$214K
FY2024$261K
Expenses
$211K
FY2023
Tap a bar for its year
Expenses by fiscal year
FY2021Not on file
FY2022Not on file
FY2023$211K
FY2024$219K
Net assets
$45K
FY2023▲ +8%
Tap a bar for its year
Net assets by fiscal year
FY2021$48K
FY2022$42K
FY2023$45K
FY2024$57K

From the FY2023 Form 990 (year ending January 2023) · see the original

990 PDF Claim
You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Dec 1940.

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

Where the money goes

99 cents of each dollar spent went to programs.

Program services 99% · $209K Management & general 1% · $2K

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

4 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
Persident
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Chi Omega 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

Fosters education, social activities, and unity for sorority members.

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Provided by the organization

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1 program · in their own filed words · FY2022
01

Membership dues & assessments

Pt IX · col B

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$214K
Ln 12
Fees for servicesLn 2g$214K
Money outPt IX
$211K
Ln 25
Programscol B$209K
Managementcol C$2K
Owns and owesPt X
$45K
net assets · Ln 32
Cash and savingsLn 1–2$52K
Total assetsLn 16$52K
LiabilitiesLn 26$6K
PeoplePt VI, VII
4
listed · VII A
PaidVII A0
Voting boardVI 1a4
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$214K
Total revenueLn 12$214K
Assets in detailPt X, end of year
CashLn 1$52K
Cash and savings togetherLn 1–2$52K
Land, buildings, equipmentLn 10c$0
Total assetsLn 16$52K
LiabilitiesLn 26$6K
Net assetsLn 32$45K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderJanuary
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 FY23End FY23
Cash and savingsLn 1–2$45K$52K
Land, buildings, equipmentLn 10c$66$0
Total assetsLn 16$45K$52K
LiabilitiesLn 26$3K$6K
Net assetsLn 32$42K$45K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$2K$0$2K$0
Office expensesLn 13$1K$1K$0$0
Depreciation, depletion and amortizationLn 22$66$66$0$0
All other expensesLn 24e$207K$207K$0$0
Total functional expensesLn 25$211K$209K$2K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $261K$219K$43K$57K 990 PDF
FY2023 Viewing $214K$211K$3K$45K 990 PDF
FY2022 $121K$42K 990 PDF
FY2021 $121K$48K 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 FY2023 990 (6 parts)
Part I · Summary $213,813 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $120,931$213,813
I-10 Investment income$0
I-11 Other revenue$0
I-12 Total revenuePrior year $120,931$213,813
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $127,081$210,538
I-18 Total expensesPrior year $127,081$210,538
I-19 Revenue less expensesPrior year −$6,150$3,275
Part VI · Governance 0 of 4 board members independent, 4 to look at
VI-1a Voting members of the governing body4
VI-1b Independent voting members0
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 $213,813 across 2 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Unrelated business $0 · Excluded from tax $0$213,813
VIII-12 Total revenueRelated to mission $213,813 · Unrelated business $0 · Excluded from tax $0$213,813
Part IX · Statement of functional expenses $210,538 across 4 lines filed
IX-11c Accounting feesPrograms $0 · Management $1,673 · Fundraising $0$1,673
IX-13 Office expensesPrograms $1,489 · Management $0 · Fundraising $0$1,489
IX-22 Depreciation, depletion and amortizationPrograms $66 · Management $0 · Fundraising $0$66
IX-24e All other expensesPrograms $207,310 · Management $0 · Fundraising $0$207,310
IX-25 Total functional expensesPrograms $208,865 · Management $1,673 · Fundraising $0$210,538
Part X · Balance sheet $51,648 assets, 7 lines filed
X-1 Cash, non-interest-bearingStart of year $44,797$51,648
X-10c Land, buildings and equipment, netStart of year $66$0
X-16 Total assetsStart of year $44,863$51,648
X-25 Other liabilitiesStart of year $2,851$6,361
X-26 Total liabilitiesStart of year $2,851$6,361
X-32 Total net assets or fund balancesStart of year $42,012$45,287
X-33 Total liabilities and net assetsStart of year $44,863$51,648
Part XI · Reconciliation of net assets $45,287 net assets at year end
XI-1 Total revenue$213,813
XI-2 Total expenses$210,538
XI-3 Revenue less expenses$3,275
XI-4 Net assets at start of year$42,012
XI-10 Net assets at end of year$45,287

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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