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Phi Delta Sigma INC FY2023 filing

Not tax-deductible

Ithaca, NY501(c)(7)EIN 16-0878766Revenue $126K in FY2023

On file with the IRScornell.phikappatau.orgCo Sciarabba Walker 410 E Upland, 14850-0000 · Ithaca, NYTax-exempt since Jun 1966

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Provide a residential facility for undergraduates to live, study, and participate in social activities and athletic events. The members also participate in volunteer activities to support the community. The organization provides a place for alumni to visit and participate in social events associated with cornell or organized by the chapter.

Mission: Form 990 Part I, line 1

Before you give

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
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
3 of 6
filings with a surplus
Average surplus $21K a year · 14% of revenue · last 6 filings
Worth a look: a surplus in 3 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Cash reserves
31 mo
of spending, in cash
Looks good: 31.2 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
$24K
2% of total assets
Looks good: liabilities are 2% of assets; 50% or less.
Pt X · Ln 26
Independent board members
8
of 8 voting members
Looks good: 8 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$126K
+13% vs prior year
Spent
$130K
Net assets
$1.2M
By yearFY2020–FY2025
Revenue
$126K
FY2023▲ +13%
Tap a bar for its year
Revenue by fiscal year
FY2020$207K
FY2021$158K
FY2022$111K
FY2023$126K
FY2024$120K
FY2025$155K
Expenses
$130K
FY2023+0.5%
Tap a bar for its year
Expenses by fiscal year
FY2020$105K
FY2021$119K
FY2022$130K
FY2023$130K
FY2024$129K
FY2025$140K
Net assets
$1.2M
FY2023-0.4%
Tap a bar for its year
Net assets by fiscal year
FY2020$1.2M
FY2021$1.3M
FY2022$1.3M
FY2023$1.2M
FY2024$1.2M
FY2025$1.3M

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

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You’re viewing the FY2023 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 Jun 1966.

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

Who runs it and what they're paid

8 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
$0Pt VII · Sec A
Eric Oberman
Treasurer
$0Pt VII · Sec A
Alexander Hydrean
Board Member
$0Pt VII · Sec A
Ted Saltz
Vice President/Board Membe
$0Pt VII · Sec A
Michael Bufano
Board Member
$0Pt VII · Sec A
Patrick Nowak
Board Member
$0Pt VII · Sec A
Jack Zinn
Board Member
$0Pt VII · Sec A
Sam Schnog
Secretary
$0Pt VII · Sec A
See Phi Delta Sigma 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 housing, study space, social events, and volunteer opportunities for undergraduates and alumni.

Questions for Phi Delta Sigma INC

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Provided by the organization

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3 programs · in their own filed words · FY2022
01

To provide safe and affordable housing to members of a college fraternity.

Pt IX · col B
02

To maintain graduate programming, newsletters, and social activities.

Pt IX · col B
03

To improve the facility, including energy efficiency.

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
Phi Kappa Tau FoundationFY2024$21K
Total grants receivedfrom 1 funder$21K

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$126K
Ln 12
Fees for servicesLn 2g$117K
Gifts and grantsLn 1h$9K
Money outPt IX
$130K
Ln 25
Owns and owesPt X
$1.2M
net assets · Ln 32
Cash and savingsLn 1–2$339K
Total assetsLn 16$1.3M
LiabilitiesLn 26$24K
PeoplePt VI, VII
8
listed · VII A
PaidVII A0
Voting boardVI 1a8
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$9K
Fees for servicesLn 2g$117K
Total revenueLn 12$126K
Assets in detailPt X, end of year
CashLn 1$339K
Cash and savings togetherLn 1–2$339K
Land, buildings, equipmentLn 10c$904K
Other assetsLn 15$27K
Total assetsLn 16$1.3M
LiabilitiesLn 26$24K
Net assetsLn 32$1.2M
OperationsPt I, VI
EmployeesI 50
VolunteersI 610
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$528K$339K
Land, buildings, equipmentLn 10c$731K$904K
Total assetsLn 16$1.3M$1.3M
LiabilitiesLn 26$28K$24K
Net assetsLn 32$1.3M$1.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Legal feesLn 11b$225
Accounting feesLn 11c$5K
Other fees for servicesLn 11g$313
Office expensesLn 13$504
OccupancyLn 16$85K
Depreciation, depletion and amortizationLn 22$18K
Other expenses (24a–d)Ln 24$22K
Total functional expensesLn 25$130K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $155K$140K$14K$1.3M 990 PDF
FY2024 $120K$129K−$9K$1.2M 990 PDF
FY2023 Viewing $126K$130K−$5K$1.2M 990 PDF
FY2022 $111K$130K−$18K$1.3M 990 PDF
FY2021 $158K$119K$39K$1.3M 990 PDF
FY2020 $207K$105K$102K$1.2M 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 $125,610 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $10,405$8,732
I-9 Program service revenuePrior year $101,000$116,878
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $111,405$125,610
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 $0$0
I-17 Other expensesPrior year $129,755$130,397
I-18 Total expensesPrior year $129,755$130,397
I-19 Revenue less expensesPrior year −$18,350−$4,787
Part VI · Governance 8 of 8 board members independent, 4 to look at
VI-1a Voting members of the governing body8
VI-1b Independent voting members8
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 $125,610 across 4 lines filed
VIII-1f All other contributions, gifts and grants$8,732
VIII-1h Total contributions, gifts and grants$8,732
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $116,878$116,878
VIII-12 Total revenueRelated to mission $116,878 · Unrelated business $0 · Excluded from tax $0$125,610
Part IX · Statement of functional expenses $130,397 across 7 lines filed
IX-11b Legal fees$225
IX-11c Accounting fees$5,266
IX-11g Other fees for services$313
IX-13 Office expenses$504
IX-16 Occupancy$84,529
IX-22 Depreciation, depletion and amortization$17,959
IX-24 Other expenses (24a–d)$21,601
IX-25 Total functional expenses$130,397
Part X · Balance sheet $1,269,724 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $527,642$338,651
X-10c Land, buildings and equipment, netStart of year $731,097$904,383
X-15 Other assetsStart of year $19,615$26,690
X-16 Total assetsStart of year $1,278,354$1,269,724
X-17 Accounts payable and accrued expensesStart of year $10,039$7,631
X-25 Other liabilitiesStart of year $17,796$16,361
X-26 Total liabilitiesStart of year $27,835$23,992
X-32 Total net assets or fund balancesStart of year $1,250,519$1,245,732
X-33 Total liabilities and net assetsStart of year $1,278,354$1,269,724
Part XI · Reconciliation of net assets $1,245,732 net assets at year end
XI-1 Total revenue$125,610
XI-2 Total expenses$130,397
XI-3 Revenue less expenses−$4,787
XI-4 Net assets at start of year$1,250,519
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$1,245,732

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

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