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Iota Foundation FY2021 filing

Tax-deductible

Petaluma, CA501(c)(3)EducationEIN 20-1194576

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The Iota foundation's mission is to (a) support the educational and charitable programs and activities of the Iota chapter of zeta psi fraternity (the "fraternity") at the university of california, berkeley (berkeley); (b) promote and further academic excellence at berkeley; (c) provide academic scholarships and support to qualified needy and deserving individuals; (d) conduct and support the charitable and other community service programs and projects of the fraternity and berkeley; and (e) performing such other activities as are consistent with its exempt purposes.

501(c)(3) charity; gifts are tax-deductible.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
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
Yes
Donations are tax-deductible
Looks good: the IRS lists 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
4 of 4
filings with a surplus
Average surplus $13K a year · 24% of revenue · last 4 filings
Looks good: a surplus in 4 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
47 mo
of spending, in cash
Looks good: 47.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $12K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$41K
Spent
$2K
To programs
0%
Net assets
$437K
By yearFY2021–FY2025
Revenue
$41K
FY2021
Revenue by fiscal year
FY2021$41K
FY2022$27K
FY2023−$540
FY2024$133K
FY2025$21K
Expenses
$2K
FY2021
Expenses by fiscal year
FY2021$2K
FY2022$23K
FY2023Not on file
FY2024$125K
FY2025$19K
Net assets
$437K
FY2021
Net assets by fiscal year
FY2021$437K
FY2022$440K
FY2023$402K
FY2024$410K
FY2025$412K

From the FY2021 Form 990 · see the original

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You’re viewing the FY2021 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 Mar 2009.

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

Where the money goes

What each dollar paid for.

Management & general 65% · $1K Fundraising 35% · $648

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

6 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Mike Marino
Secretary
$0Pt VII · Sec A
Ray Pounds
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Iota Foundation 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

Supports educational programs, scholarships, and community service for students at UC Berkeley.

Provided by the organization

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

Support of the zeta psi fraternity at the university of california, berkeley

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 · received and paid
Grants received · FY2024
Barbara and Tom Witter FoundationFY2024$12K
Total grants receivedfrom 1 funder$12K
Grants paid · 3 grants · $118K · 2022–2024
Zeta Psi Fraternity of North AmericaCA · FY2024$91,234
Unitemized GrantFY2024$9,000
Unitemized GrantFY2022$18,000

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$41K
Ln 12
Investment incomeLn 3$24K
Gifts and grantsLn 1h$17K
Money outPt IX
$2K
Ln 25
Managementcol C$1K
Fundraisingcol D$648
Owns and owesPt X
$437K
net assets · Ln 32
Cash and savingsLn 1–2$7K
Total assetsLn 16$437K
LiabilitiesLn 26$0
PeoplePt VI, VII
6
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$17K
Investment incomeLn 3$24K
Gains on assetsLn 7$8K
Total revenueLn 12$41K
Assets in detailPt X, end of year
CashLn 1$7K
Cash and savings togetherLn 1–2$7K
InvestmentsLn 11–13$335K
Total assetsLn 16$437K
LiabilitiesLn 26$0
Net assetsLn 32$437K
OperationsPt I, VI
EmployeesI 50
VolunteersI 66
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 FY21End FY21
Cash and savingsLn 1–2$7K$7K
InvestmentsLn 11–13$311K$335K
Total assetsLn 16$398K$437K
LiabilitiesLn 26$0$0
Net assetsLn 32$398K$437K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$1K$1K
Office expensesLn 13$663$15$648
Total functional expensesLn 25$2K$0$1K$648

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $21K$19K$2K$412K 990 PDF
FY2024 $133K$125K$8K$410K 990 PDF
FY2023 −$540$402K 990 PDF
FY2022 $27K$23K$3K$440K 990 PDF
FY2021 Viewing $41K$2K$39K$437K 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 (4 parts)
Part VIII · Statement of revenue $40,792 across 5 lines filed
VIII-1f All other contributions, gifts and grants$16,550
VIII-1h Total contributions, gifts and grants$16,550
VIII-3 Investment incomeExcluded from tax $16,039$16,039
VIII-7 Net gain or loss on sales of assetsExcluded from tax $8,203$8,203
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $24,242$40,792
Part IX · Statement of functional expenses $1,827 across 2 lines filed
IX-11c Accounting feesManagement $1,164$1,164
IX-13 Office expensesManagement $15 · Fundraising $648$663
IX-25 Total functional expensesPrograms $0 · Management $1,179 · Fundraising $648$1,827
Part X · Balance sheet $437,166 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $7,184$7,192
X-4 Accounts receivableStart of year $80,250$95,250
X-11 Publicly traded securitiesStart of year $310,767$334,724
X-16 Total assetsStart of year $398,201$437,166
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $398,201$437,166
X-32 Total net assets or fund balancesStart of year $398,201$437,166
X-33 Total liabilities and net assetsStart of year $398,201$437,166
Part XI · Reconciliation of net assets $437,166 net assets at year end
XI-1 Total revenue$40,792
XI-2 Total expenses$1,827
XI-3 Revenue less expenses$38,965
XI-4 Net assets at start of year$398,201
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$437,166

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

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