Phi Kappa Psi Fraternity: Nonprofit Profile, Financials & Form 990 (EIN 16-6089737)

Revenue by fiscal year
FY2020	$369K
FY2021	$11K

Expenses by fiscal year
FY2020	$384K
FY2021	$37K

Net assets by fiscal year
FY2020	$64K
FY2021	$0

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2021.

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

Who runs it and what they're paid

1 person listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII

Chet Osadchey

Alumni President

$0Pt VII · Sec A

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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 to Phi Kappa Psi members at Cornell University.

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Provided by the organization

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1 program · in their own filed words · FY2020

01

To provide housing and fellowship to members of college fraternity.

Pt IX · col B

By the numbers

The FY2021 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$11K

Ln 12

Fees for servicesLn 2g$11K

Money outPt IX

$37K

Ln 25

Owns and owesPt X

$0

net assets · Ln 32

Total assetsLn 16$0

LiabilitiesLn 26$0

PeoplePt VI, VII

1

listed · VII A

PaidVII A0

Voting boardVI 1a2

IndependentVI 1b2

2In more detail

Revenue in detailPt VIII

Fees for servicesLn 2g$11K

Total revenueLn 12$11K

Assets in detailPt X, end of year

CashLn 1$0

SavingsLn 2$0

InvestmentsLn 11–13$0

Land, buildings, equipmentLn 10c$0

Other assetsLn 15$0

Total assetsLn 16$0

LiabilitiesLn 26$0

Net assetsLn 32$0

OperationsPt I, VI

EmployeesI 51

VolunteersI 62

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

Line	Start FY21	End FY21
Cash and savingsLn 1–2	$55K	$0
InvestmentsLn 11–13		$0
Land, buildings, equipmentLn 10c		$0
Total assetsLn 16	$64K	$0
LiabilitiesLn 26	$0	$0
Net assetsLn 32	$64K	$0

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Payroll taxesLn 10	$2K
Other fees for servicesLn 11g	$60
Other expenses (24a–d)Ln 24	$35K
Total functional expensesLn 25	$37K

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2021 Latest Viewing	$11K	$37K	−$26K	$0	990 PDF
FY2020	$369K	$384K	−$15K	$64K	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 FY2021 990 (6 parts)

Part I · Summary $11,349 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $0$0

I-9 Program service revenuePrior year $369,055$11,349

I-10 Investment incomePrior year $0$0

I-11 Other revenuePrior year $0$0

I-12 Total revenuePrior year $369,055$11,349

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 $68,299$1,646

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $315,756$35,452

I-18 Total expensesPrior year $384,055$37,098

I-19 Revenue less expensesPrior year −$15,000−$25,749

Part VI · Governance 2 of 2 board members independent, 4 to look at

VI-1a Voting members of the governing body2

VI-1b Independent voting members2

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 $11,349 across 2 lines filed

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $11,349$11,349

VIII-12 Total revenueRelated to mission $11,349 · Unrelated business $0 · Excluded from tax $0$11,349

Part IX · Statement of functional expenses $37,098 across 3 lines filed

IX-10 Payroll taxes$1,646

IX-11g Other fees for services$60

IX-24 Other expenses (24a–d)$35,392

IX-25 Total functional expenses$37,098

Part X · Balance sheet $0 assets, 16 lines filed

X-1 Cash, non-interest-bearingStart of year $55,060$0

X-2 Savings and temporary cash investments$0

X-3 Pledges and grants receivable$0

X-4 Accounts receivableStart of year $7,036$0

X-8 Inventories for sale or use$0

X-9 Prepaid expenses and deferred charges$0

X-10c Land, buildings and equipment, net$0

X-11 Publicly traded securities$0

X-12 Other securities$0

X-13 Program-related investments$0

X-14 Intangible assets$0

X-15 Other assetsStart of year $2,250$0

X-16 Total assetsStart of year $64,346$0

X-26 Total liabilitiesStart of year $0$0

X-32 Total net assets or fund balancesStart of year $64,346$0

X-33 Total liabilities and net assetsStart of year $64,346$0

Part XI · Reconciliation of net assets $0 net assets at year end

XI-1 Total revenue$11,349

XI-2 Total expenses$37,098

XI-3 Revenue less expenses−$25,749

XI-4 Net assets at start of year$64,346

XI-9 Other changes in net assets−$38,597

XI-10 Net assets at end of year$0

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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