Phi Iota Alpha Fraternity INC

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To promote fraternal unity amongst members

Form 990 Part I, line 1, FY2024. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 20-0319711) · Dispute this line
501(c)(7) social or recreational club; gifts are not tax-deductible as charitable contributions.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78

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
Listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
No
Donations are not tax-deductible
The IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
The latest return is for FY2024, 2 tax years back.
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
A surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
4.9 mo
of spending, in cash
4.9 months of spending in cash.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$14K
19% of total assets
Liabilities are 19% of assets.
Pt X · Ln 26
Independent board members
12
of 12 voting members
12 of 12 voting members are independent.
Pt VI · Ln 1a–1b
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

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
Chairman of the Board
$0Pt VII · Sec A
Executive Director
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
See Phi Iota Alpha Fraternity INC executive salaries →

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.

Questions for Phi Iota Alpha Fraternity INC

Tap to ask. Phi Iota Alpha Fraternity INC sees how many people are interested.

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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.

Form 990 Part III, line 4, FY2024. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 20-0319711) · Dispute this line
Pt IX · Ln 25 · 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.

Form 990 Part III, line 4, FY2024. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 20-0319711) · Dispute this line
Pt IX · Ln 25 · col B

By the numbers

The FY2024 990, line by line.

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 ViewingFiled with the IRS Sep 15, 2025 $210K$182K$28K$61K 990 PDF
FY2023Filed with the IRS Nov 5, 2024 $212K$232K−$19K$33K 990 PDF
FY2022Filed with the IRS Nov 3, 2023 $104K$144K−$40K$57K 990 PDF
FY2021Filed with the IRS Dec 21, 2022 $112K$191K−$79K$97K 990 PDF
FY2020Filed with the IRS Nov 19, 2021 $130K$140K−$10K$151K 990 PDF

Schedules filed Part IV

A · Public support I · Grants O · Explanations
See the full FY2024 990
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 FY2024 from the IRS (about our sources) · Classification, formation year and address from the IRS Business Master File

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