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Psi Psi Chapter Syracuse University

Not tax-deductible

Ithaca, NY501(c)(7)Education EIN 20-8718395Revenue $235K in FY2024

On file with the IRSCo Sciarabba Walker 410 E Upland Rd, 14850-0000 · Ithaca, NYTax-exempt since Feb 1937

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To provide housing and fellowship to matriculated undergraduate members of sigma chi fraternity at Syracuse University.

501(c)(7) social or recreational club; gifts are not tax-deductible as charitable contributions.
Run by 13 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · People: Part I, lines 5–6

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 2
filings with a surplus
Average deficit $8K a year · 4% of revenue · last 2 filings
Worth a look: a surplus in 1 of the last 2 filings.
Pt I · Ln 19 · 2 filings
Cash reserves
4 mo
of spending, in cash
Looks good: 3.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$148K
97% of total assets
Concern: liabilities are 97% of assets; over 80%.
Pt X · Ln 26
Independent board members
13
of 13 voting members
Looks good: 13 of 13 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$235K
+0.8% vs prior year
Spent
$188K
Net assets
$5K
By yearFY2021–FY2024
Revenue
$235K
FY2024▲ +0.8%
Tap a bar for its year
Revenue by fiscal year
FY2021$105K
FY2022$99K
FY2023$233K
FY2024$235K
Expenses
$188K
FY2024▼ -37%
Tap a bar for its year
Expenses by fiscal year
FY2021Not on file
FY2022Not on file
FY2023$297K
FY2024$188K
Net assets
$5K
FY2024▲ +115%
Tap a bar for its year
Net assets by fiscal year
FY2021$538
FY2022$31K
FY2023−$33K
FY2024$5K

From the FY2024 Form 990 · see the original

990 PDF Claim

Is it real?

Yes. Exemption reinstated (2010-11-15). Per the IRS revocation list. Latest filing on record: FY2024. IRS ruling in Feb 1937.

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

Who runs it and what they're paid

13 people listed on the 990.

Part VII, Section A · reportable compensation
Andrew Sondej
Chapter Consul
$0Pt VII · Sec A
Andres Jara
Chapter Board Club Steward
$0Pt VII · Sec A
Edward Garcia
Chapter Philanthrophy Chai
$0Pt VII · Sec A
Henry O' Connor
Chapter Pro Consul
$0Pt VII · Sec A
Nate Margolin
Chapter Quaestor
$0Pt VII · Sec A
Pierce Honeyman
Chapter Risk Manager
$0Pt VII · Sec A
Amaan Punjabi
Chapter Kustos
$0Pt VII · Sec A
Gavin Johnston
Chapter Ritual Chairman
$0Pt VII · Sec A
See Psi Psi Chapter Syracuse University 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 to Sigma Chi fraternity members at Syracuse University.

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Provided by the organization

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1 program · in their own filed words · FY2024
01

To provide housing and fellowship to matriculated undergraduate members of sigma chi fraternity at syracuse university.

Pt IX · col B

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$235K
Ln 12
Fees for servicesLn 2g$234K
Gifts and grantsLn 1h$4K
Money outPt IX
$188K
Ln 25
Owns and owesPt X
$5K
net assets · Ln 32
Cash and savingsLn 1–2$58K
Total assetsLn 16$153K
LiabilitiesLn 26$148K
PeoplePt VI, VII
13
listed · VII A
PaidVII A0
Voting boardVI 1a13
IndependentVI 1b13
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$4K
Fundraising eventsLn 1c$4K
Fees for servicesLn 2g$234K
Total revenueLn 12$235K
Assets in detailPt X, end of year
CashLn 1$58K
Cash and savings togetherLn 1–2$58K
Other assetsLn 15$95K
Total assetsLn 16$153K
LiabilitiesLn 26$148K
Net assetsLn 32$5K
OperationsPt I, VI
EmployeesI 50
VolunteersI 613
Fiscal year endsHeaderDecember
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 FY24End FY24
Cash and savingsLn 1–2$30K$58K
Total assetsLn 16$115K$153K
LiabilitiesLn 26$148K$148K
Net assetsLn 32−$33K$5K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$4K
Professional fundraising feesLn 11e$6K
Other fees for servicesLn 11g$31K
InsuranceLn 23$14K
Other expenses (24a–d)Ln 24$133K
All other expensesLn 24e−$898
Total functional expensesLn 25$188K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $235K$188K$47K$5K 990 PDF
FY2023 $233K$297K−$64K−$33K 990 PDF
FY2022 $99K$31K 990 PDF
FY2021 $105K$538 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $235,115 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$3,950
I-9 Program service revenuePrior year $226,235$233,595
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $6,994−$2,430
I-12 Total revenuePrior year $233,229$235,115
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$6,380
I-17 Other expensesPrior year $296,879$181,534
I-18 Total expensesPrior year $296,879$187,914
I-19 Revenue less expensesPrior year −$63,650$47,201
Part VI · Governance 13 of 13 board members independent, 4 to look at
VI-1a Voting members of the governing body13
VI-1b Independent voting members13
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 $235,115 across 5 lines filed
VIII-1c Fundraising events$3,950
VIII-1h Total contributions, gifts and grants$3,950
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $233,595$233,595
VIII-8 Net income from fundraising eventsExcluded from tax −$2,430−$2,430
VIII-12 Total revenueRelated to mission $233,595 · Unrelated business $0 · Excluded from tax −$2,430$235,115
Part IX · Statement of functional expenses $187,914 across 6 lines filed
IX-11c Accounting fees$4,175
IX-11g Other fees for services$31,260
IX-23 Insurance$13,694
IX-24 Other expenses (24a–d)$133,303
IX-24e All other expenses−$898
IX-25 Total functional expenses$187,914
Part X · Balance sheet $152,768 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $29,973$57,773
X-15 Other assetsStart of year $84,900$94,995
X-16 Total assetsStart of year $114,873$152,768
X-17 Accounts payable and accrued expensesStart of year $60,128$65,736
X-19 Deferred revenueStart of year $87,600$82,258
X-26 Total liabilitiesStart of year $147,728$147,994
X-32 Total net assets or fund balancesStart of year −$32,855$4,774
X-33 Total liabilities and net assetsStart of year $114,873$152,768
Part XI · Reconciliation of net assets $4,774 net assets at year end
XI-1 Total revenue$235,115
XI-2 Total expenses$187,914
XI-3 Revenue less expenses$47,201
XI-4 Net assets at start of year−$32,855
XI-8 Prior period adjustments−$9,572
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$4,774

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

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