Lambda Theta Phi Latin Fraternity INC EIN 22-3404044 Form 990 (PDF) Claim this org

Lambda Theta Phi Latin Fraternity INC FY2023 filing

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Empowers Latin men through scholarships, brotherhood, and protecting identity and equality. For fiscal year 2023 it reported $224K in revenue, $285K in expenses, and $293K in net assets.Pt I

Type
Mutual-benefit / member-serving · Mutual/Membership
Location
Parsippany, NJ
Website
www.lambda1975.org
Filings
5 on file (2020–2023)
Revenue
$224KFY2023
Expenses
$285K
Net assets
$293K
People
13
Filings
5
Updates
0
More identity details & actions ⌄
EIN  22-3404044 Mutual-benefit / member-serving Parsippany, NJ
Form 990 (PDF)
You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →
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Size
$100K–1M
What they do
Empowers Latin men through scholarships, brotherhood, and protecting identity and equality.
Leadership
Andrew Ramjit · Executive Di · $27K
Money in and out
$224K revenue, $285K expenses
Bottom line
-27% surplus margin
Reported financial activity · FY2023
Total revenue
$224K
Pt VIII · Ln 12
Total expenses
$285K
Pt IX · Ln 25
Net assets
$293K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$61K
Where spending went · Part IX cols B–D
Program services $1.00
Surplus margin
-27%
revenue over expenses, this year
Program spending
100%
of expenses reach programs

Summary of the Filing

Part I · fiscal year 2023 · Form 990
Revenue
$224K
FY2023▲ +17%
Expenses
$285K
FY2023▲ +134%
Total assets
$293K
FY2023▼ -17%
Total liabilities
$0
FY2023▼ -100%
Total revenue
$224K
Pt VIII · Ln 12
Total expenses
$285K
Pt IX · Ln 25
Net assets
$293K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$61K
Total assetsPt X · Ln 16$293K
Program-expense ratioPt IX · col B100%
Voting members of governing bodyPt I · Ln 314
Independent voting membersPt I · Ln 414

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CLambda Theta Phi Latin Fraternity INC
EINHdr · item D22-3404044
Principal addressHdr · item CParsippany, NJ
WebsiteHdr · item Jwww.lambda1975.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MNJ
Exempt statusHdr · item I501(c)(7) · active
NTEE classificationIRS BMFMutual/Membership (Y42)
Ruling yearIRS BMFApr 2000

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a14
Independent voting membersPt VI · Ln 1b14
Conflict-of-interest policyPt VI · Ln 12aNo
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
Executive Di
$27,076Pt VII · Sec A
Director of
$0Pt VII · Sec A
Public Perfo
$0Pt VII · Sec A
Collegiate a
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Community De
$0Pt VII · Sec A
Alumni Affai
$0Pt VII · Sec A

Andrew Ramjit’s $39K as Executive Di is at the 80th percentile of top reported officer pay among 537 $100K–1M mutual/membership nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 3 named individuals · Part VII

NameFY2024FY2023FY2022
Andrew Ramjit$39,000$27,076
Dr Andrew Ramjit$30,000
Enmanuel Valerio$12,000

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Mission & Programs · Part III

Where the work happens

1 program service, described in the organization's own filed words · FY2022.
01

For exempt purpose

Pt IX · col B

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Statement of Revenue

Part VIII
Program service revenue$221K · 99%
Other revenue$3K · 1%
Program service revenue99%$221K
Other revenue1%$3K
Investment income$251
Total revenueLn 12$224K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $1.00
Program services100%$285K
Total functional expensesLn 25$285K

Balance Sheet

Part X · end of year
CashLn 1$293K
Total assetsLn 16$293K
Total liabilitiesLn 26$0
Total net assetsLn 32$293K
Months of cash on handcomputed12.3

Financial Metrics

Form 990 · FY2023 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $293K · Operating expenses/yr $285K
12.3 months
Where the money goes
Program services
Program services $285K · Total expenses $285K
100%
Management & General
Management & general $0 · Total expenses $285K
0%
Fundraising
Fundraising $0 · Total expenses $285K
0%
Cost to raise $1
Fundraising expense (2-yr avg) $0 · Solicited contributions (2-yr avg) $0
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $0 · Total revenue $224K
0%
Government reliance
Government grants — · Total revenue $224K
Earned-income share
Program service revenue $221K · Total revenue $224K
99%
Investment reliance
Investment income $251 · Total revenue $224K
+0.1%
Program self-sufficiency
Program service revenue $221K · Total expenses $285K
77%
Growth & trend
Revenue growth (YoY)
This year $224K · Prior year $191K
+17%
Net-asset trend (YoY)
End of year $293K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $224K · Expenses $285K
-27%
Liabilities-to-Assets
Total liabilities — · Total assets $293K
Net-asset ratio
Net assets $293K · Total assets $293K
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $293K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Andrew Ramjit · Reported title EXECUTIVE DI · Highest reported compensation $27K · Total expenses $285K
9%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $27K · Total expenses $285K
9%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 100%
Overhead ratio 0%
Revenue growth 17%
Legal fee ratio 0.03%
Accounting fee ratio 2%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024$389K revenue · ⤓ 990 PDF
FY2023$224K revenue · viewing · ⤓ 990 PDF
FY2022$191K revenue · ⤓ 990 PDF
FY2021$192K revenue · ⤓ 990 PDF
FY2020$196K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2023IRS
Classification, formation year, addressIRS Business Master File
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