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Phi Kappa Psi

Lexington, VAUnknown exempt organizationEIN 23-7386398Revenue $586K in FY2024

On file with the IRSC/O Swisher Johnson Po Box 1489 · Lexington, VA

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College fraternity house corporation

Mission: Form 990 Part I, line 1

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
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
3 of 4
filings with a surplus
Average surplus $74K a year · 13% of revenue · last 4 filings
Fine: a surplus in 3 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
1 mo
of spending, in cash
Fine: 1.3 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
3
of 3 voting members
Looks good: 3 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$586K
-2% vs prior year
Spent
$545K
To programs
0%
Net assets
$676K
By yearFY2021–FY2024
Revenue
$586K
FY2024▼ -2%
Tap a bar for its year
Revenue by fiscal year
FY2021$551K
FY2022$614K
FY2023$597K
FY2024$586K
Expenses
$545K
FY2024▼ -10%
Tap a bar for its year
Expenses by fiscal year
FY2021$402K
FY2022$500K
FY2023$605K
FY2024$545K
Net assets
$676K
FY2024▲ +15%
Tap a bar for its year
Net assets by fiscal year
FY2021$568K
FY2022$587K
FY2023$589K
FY2024$676K

From the FY2024 Form 990 (year ending July 2024) · see the original

Form 990 (PDF) Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024.

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

Who runs it and what they're paid

3 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Robert Allan
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Phi Kappa Psi 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

Provides housing and support for college fraternity members.

Questions for Phi Kappa Psi

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Provided by the organization

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1 program · in their own filed words · FY2023
01

Provide room and board, supervision, and alumni contacts for undergraduate members of a local chapter of a national fraternal organization on the campus of an educational institution

Pt IX · col B

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$586K
Ln 12
Fees for servicesLn 2g$560K
Investment incomeLn 3$18K
Other incomeLn 4–11$9K
Money outPt IX
$545K
Ln 25
Owns and owesPt X
$676K
net assets · Ln 32
Cash and savingsLn 1–2$60K
Total assetsLn 16$676K
LiabilitiesLn 26$0
PeoplePt VI, VII
3
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$560K
Investment incomeLn 3$18K
Other incomeLn 4–11$9K
Gains on assetsLn 7$12K
Total revenueLn 12$586K
Assets in detailPt X, end of year
CashLn 1$54K
SavingsLn 2$6K
Cash and savings togetherLn 1–2$60K
InvestmentsLn 11–13$444K
Other assetsLn 15$172K
Total assetsLn 16$676K
LiabilitiesLn 26$0
Net assetsLn 32$676K
OperationsPt I, VI
EmployeesI 53
Fiscal year endsHeaderJuly
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
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$51K$60K
InvestmentsLn 11–13$380K$444K
Total assetsLn 16$590K$676K
LiabilitiesLn 26$916$0
Net assetsLn 32$589K$676K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$97K
Payroll taxesLn 10$7K
Accounting feesLn 11c$3K
Other fees for servicesLn 11g$5K
Office expensesLn 13$179
InsuranceLn 23$12K
Other expenses (24a–d)Ln 24$408K
All other expensesLn 24e$12K
Total functional expensesLn 25$545K$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $586K$545K$41K$676K 990 PDF
FY2023 $597K$605K−$8K$589K 990 PDF
FY2022 $614K$500K$114K$587K 990 PDF
FY2021 $551K$402K$149K$568K 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 FY2024 990 (6 parts)
Part I · Summary $585,788 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $573,828$559,530
I-10 Investment incomePrior year $20,138$17,507
I-11 Other revenuePrior year $2,603$8,751
I-12 Total revenuePrior year $596,569$585,788
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $116,129$104,104
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $488,519$440,756
I-18 Total expensesPrior year $604,648$544,860
I-19 Revenue less expensesPrior year −$8,079$40,928
Part VI · Governance 3 of 3 board members independent, 2 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members3
VI-13 Written whistleblower policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $585,788 across 5 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $559,530$559,530
VIII-3 Investment incomeUnrelated business $5,097$5,097
VIII-7 Net gain or loss on sales of assetsExcluded from tax $12,410$12,410
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $8,751$8,751
VIII-12 Total revenueRelated to mission $568,281 · Unrelated business $5,097 · Excluded from tax $12,410$585,788
Part IX · Statement of functional expenses $544,860 across 8 lines filed
IX-7 Other salaries and wages$96,609
IX-10 Payroll taxes$7,495
IX-11c Accounting fees$3,418
IX-11g Other fees for services$4,664
IX-13 Office expenses$179
IX-23 Insurance$12,412
IX-24 Other expenses (24a–d)$408,214
IX-24e All other expenses$11,869
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$544,860
Part X · Balance sheet $675,558 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $45,023$54,112
X-2 Savings and temporary cash investmentsStart of year $5,500$5,787
X-11 Publicly traded securitiesStart of year $380,355$443,544
X-15 Other assetsStart of year $158,700$172,115
X-16 Total assetsStart of year $589,578$675,558
X-26 Total liabilitiesStart of year $916$0
X-27 Net assets without donor restrictionsStart of year $568,662$655,558
X-28 Net assets with donor restrictionsStart of year $20,000$20,000
X-32 Total net assets or fund balancesStart of year $588,662$675,558
X-33 Total liabilities and net assetsStart of year $589,578$675,558
Part XI · Reconciliation of net assets $675,558 net assets at year end
XI-1 Total revenue$585,788
XI-2 Total expenses$544,860
XI-3 Revenue less expenses$40,928
XI-4 Net assets at start of year$588,662
XI-5 Net unrealized gains (losses) on investments$45,968
XI-10 Net assets at end of year$675,558

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

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