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Chi Psi Fraternity FY2022 filing

Ithaca, NY501(c)(7)EIN 16-1464280

To provide room and fellowship to members of college 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
2 of 3
filings with a surplus
Average surplus $2K a year · 1% of revenue · last 3 filings
Fine: a surplus in 2 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Cash reserves
<1 mo
of spending, in cash
Concern: 0.1 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $6K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$68K
78% of total assets
Worth a look: liabilities are 78% of assets; over 65%.
Pt X · Ln 26
Independent board members
17
of 17 voting members
Looks good: 17 of 17 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$219K
+38% vs prior year
Spent
$250K
Net assets
$19K
By yearFY2021–FY2025
Revenue
$219K
FY2022▲ +38%
Revenue by fiscal year
FY2021$159K
FY2022$219K
FY2023$198K
FY2024$209K
FY2025$257K
Expenses
$250K
FY2022
Expenses by fiscal year
FY2021Not on file
FY2022$250K
FY2023Not on file
FY2024$188K
FY2025$240K
Net assets
$19K
FY2022▼ -62%
Net assets by fiscal year
FY2021$50K
FY2022$19K
FY2023$14K
FY2024$32K
FY2025$49K

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

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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 May 1947.

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

Who runs it and what they're paid

17 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
Noah Lavine
President
$0Pt VII · Sec A
Quinn Strasburg
Vice President
$0Pt VII · Sec A
Zachary Ashen
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
Matthew Weinstein
Junior Treasurer
$0Pt VII · Sec A
Jeremy Herring
Sergeant at Arms
$0Pt VII · Sec A
Damien Kerner
Risk Manager
$0Pt VII · Sec A
Rocco Delorenzo
Junior Risk
$0Pt VII · Sec A
See Chi Psi 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

Offers housing and community for college fraternity members.

Provided by the organization

This section is blank until Chi Psi Fraternity claims this page.

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1 program service, described in the organization's own filed words · FY2021.
01

To provide room and fellowship to members of college fraternity.

Pt IX · col B

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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 · FY2020
Chi Psi FraternityFY2020$6K
Total grants receivedfrom 1 funder$6K

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$219K
Ln 12
Fees for servicesLn 2g$219K
Money outPt IX
$250K
Ln 25
Owns and owesPt X
$19K
net assets · Ln 32
Cash and savingsLn 1–2$2K
Total assetsLn 16$88K
LiabilitiesLn 26$68K
PeoplePt VI, VII
17
listed · VII A
PaidVII A0
Voting boardVI 1a17
IndependentVI 1b17
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$219K
Total revenueLn 12$219K
Assets in detailPt X, end of year
CashLn 1$2K
Cash and savings togetherLn 1–2$2K
Land, buildings, equipmentLn 10c$3K
Other assetsLn 15$39K
Total assetsLn 16$88K
LiabilitiesLn 26$68K
Net assetsLn 32$19K
OperationsPt I, VI
EmployeesI 50
VolunteersI 617
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$20K$2K
Land, buildings, equipmentLn 10c$0$3K
Total assetsLn 16$113K$88K
LiabilitiesLn 26$63K$68K
Net assetsLn 32$50K$19K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$8K
Other fees for servicesLn 11g$671
Depreciation, depletion and amortizationLn 22$412
InsuranceLn 23$16K
Other expenses (24a–d)Ln 24$183K
All other expensesLn 24e$42K
Total functional expensesLn 25$250K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $257K$240K$17K$49K 990 PDF
FY2024 $209K$188K$21K$32K 990 PDF
FY2023 $198K$14K 990 PDF
FY2022 Viewing $219K$250K−$31K$19K 990 PDF
FY2021 $159K$50K 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 (4 parts)
Part VIII · Statement of revenue $219,206 across 2 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $219,206$219,206
VIII-12 Total revenueRelated to mission $219,206 · Unrelated business $0 · Excluded from tax $0$219,206
Part IX · Statement of functional expenses $250,407 across 6 lines filed
IX-11c Accounting fees$8,500
IX-11g Other fees for services$671
IX-22 Depreciation, depletion and amortization$412
IX-23 Insurance$16,270
IX-24 Other expenses (24a–d)$182,959
IX-24e All other expenses$41,595
IX-25 Total functional expenses$250,407
Part X · Balance sheet $87,584 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $19,746$1,594
X-4 Accounts receivableStart of year $10,260$10,260
X-9 Prepaid expenses and deferred chargesStart of year $38,670$34,260
X-10c Land, buildings and equipment, netStart of year $0$2,675
X-15 Other assetsStart of year $44,500$38,795
X-16 Total assetsStart of year $113,176$87,584
X-17 Accounts payable and accrued expensesStart of year $21,250$29,050
X-25 Other liabilitiesStart of year $41,472$39,281
X-26 Total liabilitiesStart of year $62,722$68,331
X-32 Total net assets or fund balancesStart of year $50,454$19,253
X-33 Total liabilities and net assetsStart of year $113,176$87,584
Part XI · Reconciliation of net assets $19,253 net assets at year end
XI-1 Total revenue$219,206
XI-2 Total expenses$250,407
XI-3 Revenue less expenses−$31,201
XI-4 Net assets at start of year$50,454
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$19,253

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

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