philanthropy.org | 990 Resource | FAQ Verify yourself
Sign in

Phi Iota Alpha Fraternity INC

Not tax-deductible

Brooklyn, NY501(c)(7)EducationEIN 20-0319711Revenue $210K in FY2024

On file with the IRSphiota.org9322 3rd Avenue 412, 11209-6876 · Brooklyn, NYTax-exempt since Sep 2012

This page gets seen. Tell your story. Claim this org.

To promote fraternal unity amongst members

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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 5
filings with a surplus
Average deficit $24K a year · 16% of revenue · last 5 filings
Concern: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Cash reserves
5 mo
of spending, in cash
Looks good: 4.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$14K
19% of total assets
Looks good: liabilities are 19% of assets; 50% or less.
Pt X · Ln 26
Independent board members
12
of 12 voting members
Looks good: 12 of 12 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$210K
-1% vs prior year
Spent
$182K
Net assets
$61K
By yearFY2020–FY2024
Revenue
$210K
FY2024▼ -1%
Tap a bar for its year
Revenue by fiscal year
FY2020$130K
FY2021$112K
FY2022$104K
FY2023$212K
FY2024$210K
Expenses
$182K
FY2024▼ -21%
Tap a bar for its year
Expenses by fiscal year
FY2020$140K
FY2021$191K
FY2022$144K
FY2023$232K
FY2024$182K
Net assets
$61K
FY2024▲ +86%
Tap a bar for its year
Net assets by fiscal year
FY2020$151K
FY2021$97K
FY2022$57K
FY2023$33K
FY2024$61K

From the FY2024 Form 990 · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Sep 2012.

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

Who runs it and what they're paid

12 people listed on the 990.

Part VII, Section A · reportable compensation
Eric Gonzalez
Chairman of the Board
$0Pt VII · Sec A
Robert Gomez
Executive Director
$0Pt VII · Sec A
Chris Gale
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
Danny Rojas
Board Member
$0Pt VII · Sec A
Ruben Garcia
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A
Roberto Perez
Board Member
$0Pt VII · Sec A
See Phi Iota Alpha Fraternity INC executive salaries →

Are you one of these people? Claim this org to confirm your role

Something off? The org can add a note here. Request edit privileges.

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 15aYes

Programs and updates

Fosters brotherhood and connection among its members.

Provided by the organization

Know this organization? Claim it to add your story

2 programs · in their own filed words · FY2024
01

National convention, which is held every two years, reaches out to our membership base of over 1000 members. Workshops include financial management, job development skills, and educational advancement.

Pt IX · col B
02

National leadership training institute is an annual weekend workshop which focuses on public speaking, leadership skills, best practices for study habits and job searches.

Pt IX · col B

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$210K
Ln 12
Gifts and grantsLn 1h$206K
Investment incomeLn 3$2K
Other incomeLn 4–11$1K
Money outPt IX
$182K
Ln 25
Owns and owesPt X
$61K
net assets · Ln 32
Cash and savingsLn 1–2$74K
Total assetsLn 16$74K
LiabilitiesLn 26$14K
PeoplePt VI, VII
12
listed · VII A
PaidVII A0
Voting boardVI 1a12
IndependentVI 1b12
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$206K
Fees for servicesLn 2g$280
Investment incomeLn 3$2K
Other incomeLn 4–11$1K
Total revenueLn 12$210K
Assets in detailPt X, end of year
CashLn 1$2K
SavingsLn 2$73K
Cash and savings togetherLn 1–2$74K
Total assetsLn 16$74K
LiabilitiesLn 26$14K
Net assetsLn 32$61K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$74K$74K
Total assetsLn 16$74K$74K
LiabilitiesLn 26$41K$14K
Net assetsLn 32$33K$61K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$1K
Investment management feesLn 11f$5K
Advertising and promotionLn 12$3K
TravelLn 17$30K
Conferences, conventions and meetingsLn 19$14K
InsuranceLn 23$45K
Other expenses (24a–d)Ln 24$82K
All other expensesLn 24e$2K
Total functional expensesLn 25$182K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $210K$182K$28K$61K 990 PDF
FY2023 $212K$232K−$19K$33K 990 PDF
FY2022 $104K$144K−$40K$57K 990 PDF
FY2021 $112K$191K−$79K$97K 990 PDF
FY2020 $130K$140K−$10K$151K 990 PDF

Want to add your own materials alongside these filings? Claim this org

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 $209,819 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $179,037$206,349
I-9 Program service revenuePrior year $31,194$280
I-10 Investment incomePrior year $1,068$2,046
I-11 Other revenuePrior year $1,201$1,144
I-12 Total revenuePrior year $212,500$209,819
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 $231,537$181,848
I-18 Total expensesPrior year $231,537$181,848
I-19 Revenue less expensesPrior year −$19,037$27,971
Part VI · Governance 12 of 12 board members independent, no flags
VI-1a Voting members of the governing body12
VI-1b Independent voting members12
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $209,819 across 6 lines filed
VIII-1b Membership dues$206,349
VIII-1h Total contributions, gifts and grants$206,349
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $280$280
VIII-3 Investment incomeRelated to mission $2,046$2,046
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $1,144$1,144
VIII-12 Total revenueRelated to mission $3,470 · Unrelated business $0 · Excluded from tax $0$209,819
Part IX · Statement of functional expenses $181,848 across 8 lines filed
IX-11c Accounting fees$1,420
IX-11f Investment management fees$5,000
IX-12 Advertising and promotion$3,202
IX-17 Travel$29,594
IX-19 Conferences, conventions and meetings$13,500
IX-23 Insurance$44,737
IX-24 Other expenses (24a–d)$82,425
IX-24e All other expenses$1,970
IX-25 Total functional expenses$181,848
Part X · Balance sheet $74,383 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $2,000$1,556
X-2 Savings and temporary cash investmentsStart of year $71,988$72,827
X-16 Total assetsStart of year $73,988$74,383
X-25 Other liabilitiesStart of year $41,416$13,840
X-26 Total liabilitiesStart of year $41,416$13,840
X-27 Net assets without donor restrictionsStart of year $32,572$60,543
X-32 Total net assets or fund balancesStart of year $32,572$60,543
X-33 Total liabilities and net assetsStart of year $73,988$74,383
Part XI · Reconciliation of net assets $60,543 net assets at year end
XI-1 Total revenue$209,819
XI-2 Total expenses$181,848
XI-3 Revenue less expenses$27,971
XI-4 Net assets at start of year$32,572
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$60,543

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

Similar organizations you could support · Compare with another nonprofit

Names, privacy, and removal requests More

The names, titles, and compensation shown on this page are reproduced from IRS Form 990 filings, which are public records.

Philanthropy.org does not alter the content of those filings. All information appears exactly as reported by the filing organization for the tax year shown.

We publish only information contained in the public IRS filing — and less than the filing contains. Our profile pages do not display street addresses, telephone numbers, personal email addresses, or other personal contact information, even where the filing includes them.

Many people share the same name. A name shown on this page reflects only what one organization reported in one IRS filing for one tax year. It should not be interpreted as identifying any other individual with the same or a similar name.

If you are no longer affiliated with the organization, your name will generally stop appearing in future IRS filings once the organization no longer reports you. Pages for tax years in which you were reported remain published because those filings remain part of the public record.

Philanthropy.org does not alter or remove IRS filing records. Removing a page from this website would not remove the underlying IRS filing, which remains publicly available from the IRS and other publishers of the same information.

If you believe the IRS filing itself is inaccurate, corrections must be made by the filing organization or the IRS directly.

If you ARE the filing organization, claim this org and add context

Made it to the end? Claim this organization

Keep this kind of thing free
Keep public charity data easy to read.

Free to the public, because obviously. Like this? Pay it forward. Don't like this? Help us get better.

Card, Apple Pay or Google Pay through Stripe. One time.
Keep this kind of thing free
Keep public charity data easy to read.

Free to the public, because obviously. Like this? Pay it forward. Don't like this? Help us get better.

Card, Apple Pay or Google Pay through Stripe. One time.

All figures are derived from public IRS Form 990 filings and are presented without evaluation of any organization. philanthropy.org does not rate, score, or rank organizations, including the pay comparisons above.