Chi Phi Fraternity INC FY2024 filing

Not tax-deductible

Ithaca, NY501(c)(7)EIN 15-0536988Revenue $311K in FY2024

On file with the IRS2255 N Triphammer Rd, 14850-1576 · Ithaca, NYTax-exempt since May 1941

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Provide a home like setting for room, board and social functions.

Mission: Form 990 Part I, line 1

Before you give

FY2024 · 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
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
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
0 of 4
filings with a surplus
Average deficit $26K a year · 9% of revenue · last 4 filings
Concern: a surplus in 0 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
4 mo
of spending, in cash
Looks good: 4.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$333K
171% of total assets
Concern: liabilities are 171% of assets; over 80%.
Pt X · Ln 26
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$311K
-9% vs prior year
Spent
$320K
To programs
0%
Net assets
−$138K
By yearFY2022–FY2025
Revenue
$311K
FY2024▼ -9%
Tap a bar for its year
Revenue by fiscal year
FY2022$327K
FY2023$341K
FY2024$311K
FY2025$164K
Expenses
$320K
FY2024▼ -10%
Tap a bar for its year
Expenses by fiscal year
FY2022$388K
FY2023$358K
FY2024$320K
FY2025$181K
Net assets
−$138K
FY2024▼ -7%
Tap a bar for its year
Net assets by fiscal year
FY2022−$112K
FY2023−$129K
FY2024−$138K
FY2025−$154K

From the FY2024 Form 990 (year ending June 2024) · see the original

Form 990 (PDF) Claim
You’re viewing the FY2024 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 May 1941.

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

Who runs it and what they're paid

7 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
President
$0Pt VII · Sec A
$0Pt VII · Sec A
Alumni Offic
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
Live in Advi
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
See Chi Phi Fraternity 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 15aNo

Programs and updates

Offers a home-like setting for lodging, meals, and social gatherings.

Questions for Chi Phi Fraternity INC

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Provided by the organization

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1 program · in their own filed words · FY2023
01

Provide a home like setting for room, board and social functions.

Pt IX · col B

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$311K
Ln 12
Fees for servicesLn 2g$311K
Investment incomeLn 3$37
Money outPt IX
$320K
Ln 25
Owns and owesPt X
−$138K
net assets · Ln 32
Cash and savingsLn 1–2$116K
Total assetsLn 16$195K
LiabilitiesLn 26$333K
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a0
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$311K
Investment incomeLn 3$37
Total revenueLn 12$311K
Assets in detailPt X, end of year
CashLn 1$116K
Cash and savings togetherLn 1–2$116K
Other assetsLn 15$49K
Total assetsLn 16$195K
LiabilitiesLn 26$333K
Net assetsLn 32−$138K
OperationsPt I, VI
EmployeesI 51
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 FY24End FY24
Cash and savingsLn 1–2$116K$116K
Total assetsLn 16$189K$195K
LiabilitiesLn 26$317K$333K
Net assetsLn 32−$129K−$138K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$36K
Other employee benefitsLn 9$9K
Payroll taxesLn 10$6K
Management feesLn 11a$6K
Accounting feesLn 11c$5K
Other expenses (24a–d)Ln 24$251K
All other expensesLn 24e$7K
Total functional expensesLn 25$320K$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $164K$181K−$16K−$154K 990 PDF
FY2024 Viewing $311K$320K−$10K−$138K 990 PDF
FY2023 $341K$358K−$16K−$129K 990 PDF
FY2022 $327K$388K−$61K−$112K 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 FY2024 990 (6 parts)
Part I · Summary $310,707 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $341,105$310,670
I-10 Investment incomePrior year $36$37
I-11 Other revenue$0
I-12 Total revenuePrior year $341,141$310,707
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $53,688$50,840
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $303,880$269,448
I-18 Total expensesPrior year $357,568$320,288
I-19 Revenue less expensesPrior year −$16,427−$9,581
Part VI · Governance 4 to look at
VI-1a Voting members of the governing body0
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 $310,707 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $310,670$310,670
VIII-3 Investment incomeRelated to mission $37$37
VIII-12 Total revenueRelated to mission $310,707$310,707
Part IX · Statement of functional expenses $320,288 across 7 lines filed
IX-7 Other salaries and wages$36,239
IX-9 Other employee benefits$8,613
IX-10 Payroll taxes$5,988
IX-11a Management fees$6,320
IX-11c Accounting fees$5,250
IX-24 Other expenses (24a–d)$250,936
IX-24e All other expenses$6,942
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$320,288
Part X · Balance sheet $194,891 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $116,014$115,926
X-4 Accounts receivableStart of year $22,344$28,515
X-9 Prepaid expenses and deferred chargesStart of year $1,032$1,098
X-15 Other assetsStart of year $49,352$49,352
X-16 Total assetsStart of year $188,742$194,891
X-25 Other liabilitiesStart of year $317,271$333,001
X-26 Total liabilitiesStart of year $317,271$333,001
X-32 Total net assets or fund balancesStart of year −$128,529−$138,110
X-33 Total liabilities and net assetsStart of year $188,742$194,891
Part XI · Reconciliation of net assets −$138,110 net assets at year end
XI-1 Total revenue$310,707
XI-2 Total expenses$320,288
XI-3 Revenue less expenses−$9,581
XI-4 Net assets at start of year−$128,529
XI-10 Net assets at end of year−$138,110

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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