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Beta Eta Corporation

IRS exemption revoked

Memphis, TNMutual-benefit / member-servingEIN 06-6089864Revenue $453K in FY2023

On file with the IRS8347 W Range Cv, 38125-0721 · Memphis, TNTax-exempt since May 1945

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Providing and atmosphere of brotherly achievement through mutual goals and aspirations through the provision of student housing

Run by 1 volunteers.
Mission: Form 990 Part I, line 1 · People: Part I, lines 5–6

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FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
Revoked
IRS exemption revoked
Concern: the IRS revoked its tax exemption.
IRS Auto-Revocation List
Latest return
FY2023
latest Form 990
Fine: the latest return is for FY2023, 3 tax years back; within 3 tax years.
IRS e-file · Filing history
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Concern: 0.2 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$4.1M
90% of total assets
Concern: liabilities are 90% of assets; over 80%.
Pt X · Ln 26
Independent board members
4
of 4 voting members
Looks good: 4 of 4 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$453K
Spent
$571K
To programs
0%
Net assets
$456K

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

990 PDF Claim
IRS revoked this organization's tax-exempt status on November 15, 2023

Is it real?

No. The IRS revoked its tax exemption. Latest filing on record: FY2023. IRS ruling in May 1945.

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

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
Kevin McDonnell
Acting President
$0Pt VII · Sec A
JR Parsons
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Chris Ward
Director
$0Pt VII · Sec A
See Beta Eta Corporation 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

Offers student housing to foster mutual achievement and brotherhood.

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Provided by the organization

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1 program · $479K · in their own filed words · FY2022
01

Providing an atmosphere of brotherly achievement through mutual goals and aspirations through the provision of student housing.

$479Kprogram expense

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$453K
Ln 12
Fees for servicesLn 2g$453K
Money outPt IX
$571K
Ln 25
Owns and owesPt X
$456K
net assets · Ln 32
Cash and savingsLn 1–2$8K
Total assetsLn 16$4.6M
LiabilitiesLn 26$4.1M
PeoplePt VI, VII
4
listed · VII A
PaidVII A0
Voting boardVI 1a4
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$453K
Total revenueLn 12$453K
Assets in detailPt X, end of year
CashLn 1$8K
Cash and savings togetherLn 1–2$8K
Land, buildings, equipmentLn 10c$4.1M
Total assetsLn 16$4.6M
LiabilitiesLn 26$4.1M
Net assetsLn 32$456K
OperationsPt I, VI
EmployeesI 50
VolunteersI 61
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 FY23End FY23
Cash and savingsLn 1–2$6K$8K
Land, buildings, equipmentLn 10c$4.3M$4.1M
Total assetsLn 16$4.7M$4.6M
LiabilitiesLn 26$4.2M$4.1M
Net assetsLn 32$573K$456K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$9K
Accounting feesLn 11c$4K
Other fees for servicesLn 11g$595
OccupancyLn 16$63K
InterestLn 20$156K
Depreciation, depletion and amortizationLn 22$166K
InsuranceLn 23$27K
Other expenses (24a–d)Ln 24$146K
Total functional expensesLn 25$571K$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2023 Latest Viewing $453K$571K−$117K$456K 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 O · Explanations
See the full FY2023 990 (6 parts)
Part I · Summary $453,357 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $421,500$453,357
I-10 Investment income$0
I-11 Other revenue$0
I-12 Total revenuePrior year $421,500$453,357
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 $478,930$570,773
I-18 Total expensesPrior year $478,930$570,773
I-19 Revenue less expensesPrior year −$57,430−$117,416
Part VI · Governance 4 of 4 board members independent, 4 to look at
VI-1a Voting members of the governing body4
VI-1b Independent voting members4
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 $453,357 across 3 lines filed
VIII-1h Total contributions, gifts and grants$0
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $453,357 · Unrelated business $0 · Excluded from tax $0$453,357
VIII-12 Total revenueRelated to mission $453,357 · Unrelated business $0 · Excluded from tax $0$453,357
Part IX · Statement of functional expenses $570,773 across 8 lines filed
IX-11a Management fees$9,000
IX-11c Accounting fees$3,500
IX-11g Other fees for services$595
IX-16 Occupancy$62,809
IX-20 Interest$155,824
IX-22 Depreciation, depletion and amortization$166,461
IX-23 Insurance$27,070
IX-24 Other expenses (24a–d)$145,514
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$570,773
Part X · Balance sheet $4,577,521 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $5,819$7,611
X-4 Accounts receivableStart of year $243,765$280,100
X-9 Prepaid expenses and deferred charges$145,124
X-10c Land, buildings and equipment, netStart of year $4,289,756$4,122,859
X-14 Intangible assetsStart of year $28,543$21,827
X-16 Total assetsStart of year $4,729,603$4,577,521
X-17 Accounts payable and accrued expenses$84,726
X-25 Other liabilitiesStart of year $128,000$140,000
X-26 Total liabilitiesStart of year $4,157,096$4,121,620
X-27 Net assets without donor restrictionsStart of year $572,507$455,901
X-28 Net assets with donor restrictionsStart of year $0$0
X-32 Total net assets or fund balancesStart of year $572,507$455,901
X-33 Total liabilities and net assetsStart of year $4,729,603$4,577,521
Part XI · Reconciliation of net assets $455,901 net assets at year end
XI-1 Total revenue$453,357
XI-2 Total expenses$570,773
XI-3 Revenue less expenses−$117,416
XI-4 Net assets at start of year$572,507
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$810
XI-10 Net assets at end of year$455,901

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

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